| Feature | Money market account | Savings account | Checking account | Certificate of deposit |
|---|---|---|---|---|
| Average APY (as of June 2025) | 0.45% | 0.60% | 0.08% | 1.7%-2.01% |
| Access | Checks, debit card, transfers | Transfers, ATM | Unlimited transactions | None until maturity |
| Transaction limits | Often limited (6/month) | Often limited (6/month) | Unlimited | None allowed |
| Minimum balance | Often high ($1,000+) | Often low ($0-$100) | Often low ($0-$100) | Varies ($500+) |
| Best for | Emergency funds, short-term goals | Long-term savings | Daily transactions | Fixed-term savings |
| FDIC insurance | Yes, up to $250,000 | Yes, up to $250,000 | Yes, up to $250,000 | Yes, up to $250,000 |
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