ableBanking – 1.7% APY Money Market Account (No Requirements Or Minimums)

Offer at a glance

• Interest Rate: 1.7% APY
• Minimum Balance: $0.01 (minimum opening balance is $250)
• Maximum Balance: None
• Availability: Nationwide
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Insured: FDIC

The Offer

Direct link to offer

• ableBanking is offering a 1.7% APY on their Money Market account. There are no requirements to receive this rate, you do need to deposit $250 initially when opening the account but after that as long as you have a balance of $0.01 you’ll earn the 1.7% APY rate.

The Fine Print

• Must be a United States Resident to apply online

Avoiding Fees

There are no monthly fees to worry about. As this is a money market account you’re limited to 6 withdrawals per month.

Our Verdict

Previously the best basic savings account rate was 1.6% APY with no requirements, so this is 0.1% higher than that and the new leader. There are of course rewards accounts that offer up to 5% APY, I’d recommend maxing out the easier ones of those first (e.g Insight) before considering an account like this. Please share your datapoints regarding this bank in the comments below.

Hat tip to reader Abhirup Dutta