Savings Calculators

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Money Market Comparison

Compare money market account features with other savings options

If you’ve ever wondered what the best longer-term savings option is for your money, then the Nationwide Bank^® money market comparison chart below is the resource for you. You can easily compare money market accounts, traditional savings accounts and CDs to help make the most of your money.

Whether you want to see the advantages of a money market vs. savings account side by side or you’re looking to compare money market vs. CD options, you can review each account’s features so you can choose the right savings solution for you.

Money market vs. savings

A money market account is a higher yielding savings account with Annual Percentage Yields (APYs) that may fluctuate based on market conditions. When you compare money market accounts to traditional savings accounts, you’ll find that a money market account offers many of the traditional savings account features that you’re used to, including free online banking.

When you are making a money market comparison, it is important to understand that a money market account is considered a higher yield savings vehicle, which typically requires a higher opening deposit than a traditional savings account. Savings accounts usually require a lower opening deposit, but often have lower interest rates.

Find out more about a Nationwide Bank money market account today.

Money market vs. CDs

If you are looking for an interest-bearing savings account with greater liquidity and convenient access to your money, you may want to consider a money market vs. CD. We’ll help you compare money market accounts with CDs to help you earn more on your money while giving you all the account features that you want.

Although money market accounts and CDs have many similar benefits, a money market account offers the advantages of a checking account. By providing a checkbook and ATM card to deposit and withdraw cash, a money market account gives you liquidity that CDs cannot provide due to the fixed term structure of CDs. (Some restrictions may apply.)

When you compare money market accounts to CDs, you will see that a CD will lock in your rate while a money market rate can change based on market conditions. Also, you will find that a money market is an attractive option if you’re looking higher-yield short-term gains.

Find out more about our attractive money market rates today.

Learn more with our money market comparison chart

Our money market comparison chart is designed to help you understand everything from account interest rates to other features so you can make a better decision when opening a new Nationwide Bank account.

If a money market account is the right choice for you, then open a money market account today.

Compare money market vs. savings vs. CDs

Learn more about the advantages of a money market vs. savings and CD accounts with our helpful money market comparison chart.

Account consideration	Advantages of a Nationwide Bank Money Market Account	Advantages of a Nationwide Bank Savings Account	Advantages of a Nationwide Bank CD Account
Best for you if	You already have money saved and want convenient access to your money when you need it.	You want a place to grow your money without higher fees or balance requirements.	You can afford to save your money and not access it for a specified period of time.
Interest features	Attractive interest rates no matter what your account balance. Traditionally higher interest rates than a savings account.	Attractive APY* that is the same for all balances.	APYs may vary by term, which range from three months to five years. Interest rates may increase depending on duration of maturity.
Monthly maintenance fee¹	No monthly maintenance fee when you maintain a minimum daily balance of $1,000. Otherwise, $8.	No monthly maintenance fee when you maintain a minimum daily balance of $300 or a monthly direct deposit of $25 or more. Otherwise, $3.	No monthly maintenance fee.
Minimum opening deposit	$1,000 minimum opening deposit $1,000 minimum daily balance	$50 minimum opening deposit $300 minimum daily balance	$500
Online Banking	Free	Free	Free
Transaction limitations¹	Up to 6 preauthorized withdrawals per monthly statement cycle, including telephone or electronic transfers, check or point-of-sale transactions.	Up to 6 preauthorized withdrawals per monthly statement cycle, including telephone or electronic transfers, check or point-of-sale transactions.	Penalty may apply for withdrawal of funds before CD matures.
Account access	First free order of checks. Free ATM card available upon request. Complete transactions online, by phone or at an ATM. Access to more than 70,000 surcharge-free ATMs within the Allpoint, PNC Bank, Alliance One and MoneyPass ATM networks. Two free non-Nationwide Bank ATM transactions per month ATM owner surcharges may apply.	Free ATM card available upon request. Complete transactions online, by phone or at an ATM. Access to more than 70,000 surcharge-free ATMs within the Allpoint, PNC Bank, Alliance One and MoneyPass ATM networks. Two free non-Nationwide Bank ATM transactions per month ATM owner surcharges may apply.	ATM card not available. Complete transactions online or by phone.
Account Statements	Free online statements. Paper statements available at no additional cost.	Free online statements. Paper statements available at no additional cost.	Free online statements. Paper statements available with linked checking account.
Overdraft protection	Yes – If linked to a Nationwide Bank checking account for overdraft protection.	Yes – If linked to a Nationwide Bank checking account for overdraft protection.	None
FDIC- insured²	Yes	Yes	Yes

You’ve compared money market advantages, now what?

Now that you’ve had the chance to compare money market, savings and CD account features, you have the information you need for your situation to earn more on your savings. However, if you’re still asking yourself, "What is a money market account?", check out our online FAQ page to help you solidify your choice.

If you have more questions, find more information about our traditional savings accounts and bank CD options.

If you’ve decided that a money market account is the right savings option for you, open a money market account today!

*APY refers to Annual Percentage Yield

¹ Limit does not apply to the number of withdrawals you can make at an ATM, by mail or at a Nationwide branch.

² Each depositor insured to at least $250,000.

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Nationwide Mutual Insurance Company, Nationwide Mutual Fire Insurance Company, Nationwide Life Insurance Company, Nationwide Life and Annuity Insurance Company and Nationwide Investment Services Corporation are affiliates of Nationwide Bank. The insurance products and services offered through these affiliates of Nationwide Bank are not insured by the FDIC or any federal government agency, nor are they guaranteed by, deposits of or obligations of Nationwide Bank. The products and services offered through Nationwide Investment Services Corporation are subject to investment risk, including possible loss of value.

Programs (including, without limit, fees, rates and features) are subject to change without notice.

Nationwide Bank, Member FDIC, is a federally chartered savings bank. Nationwide Bank is an Equal Credit Opportunity Lender.

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