Illinois Money Market Rates - September 2026
Brian McKay
Brian McKay
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Current Illinois money market deposit account rates include Great Lakes Credit UnionGreat Lakes Credit Union2525 Green Bay Rd, North Chicago, IL 60064A5.0 ★Texas Ratio: 6.33%Real return: +2.20%APY minus 2.8% CPI (February 2026) Money Market Account at 5.00% APY, De Witt Savings BankDe Witt Savings Bank302 W Main St, Clinton, IL 61727A5.0 ★Texas Ratio: 6.29%Real return: +1.27%APY minus 2.8% CPI (February 2026) N-Vest Money Market - Tier 7 at 4.07% APY, United Trust BankUnited Trust Bank12330 S Harlem Ave, Palos Heights, IL 60463A+5.0 ★Texas Ratio: 3.55%Real return: +1.20%APY minus 2.8% CPI (February 2026) Business Premium Money Market Special at 4.00% APY, FCB BanksFCB Banks201 N Commercial St, Albers, IL 62215A5.0 ★Texas Ratio: 7.31%Real return: +1.05%APY minus 2.8% CPI (February 2026) Hometown Money Market (with Direct Deposit) at 3.85% APY, and Consumers Credit UnionConsumers Credit Union2750 Washington St, Waukegan, IL 60085 4959A5.0 ★Texas Ratio: 6.46%Real return: +1.02%APY minus 2.8% CPI (February 2026) Business Money Market at 3.82% APY. Money market rates as of September 21, 2026 according to verified data from MonitorBankRates.
Use the tables below to compare money market rates across Illinois side-by-side. Illinois money market rates currently reach as high as 5.00% APY from Great Lakes Credit Union at 2525 Green Bay Rd, North Chicago, IL 60064. Rates are continually updated, so we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Illinois and surrounding area. Last Updated and Verified: September 21, 2026
Compare the Best Money Market Rates Today in Illinois
Qualifications Required: 40 or more transactions per month; enrolled in e-statements; Tier 3: Accounts with 40 or more transactions per month and e-statements. Balances $10,001 and above will earn .05% APY.
*** as of 1/6/2026
*** as of 1/6/2026
Balance: $1,000,000+
Balance: $0.01-$2,499.99
Balance: $0.01-$2,499.99
Balance: $500,000+
Annual Percentage Yield is accurate as of posting date and applies to new money deposits only. Rate is subject to change without notice after account opening. Fees and/or withdrawals could reduce the earnings on the account. $100,000 minimum required to earn stated rate for money market account. Fees could reduce the earnings on the account. A monthly service charge of $20 will be assessed if account does not maintain an average daily balance of $25,000.
No minimum balance to earn APY; APY may change after account opening; Limited to 6 preauthorized transfers or withdrawals per monthly statement cycle; Excess withdrawal fee for more than 6 withdrawals or transfers per month may reduce earnings on the account.
Balance: $500,000 - $999,999.99
Balance: $1,000,000+
Balance: $1,000,000+
Balance: $500,000 - $999,999.99
Balance: $500,000 - $999,999.99
Balance: $250,000 - $499,999.99
Balance: $100,000 - $249,999.99
Balance: $1,000,000+
Balance: $500,000+
Balance: $100,000 & above; New money only
Balance: $100,000 & above; New money only
$15,000+; Intro rate
$15,000+ Intro rate APY; Dividend Rate
Balance: $250,000 or more; Rate: Federal Funds Effective Rate minus 0.25%
Balance: $500,000 - $999,999.99
Balance: $250,000-$1,000,000; Credit Frequency: Monthly
Balance: $25,000.00 to $2,000,000.99
Balance: $25,000.00 to $2,000,000.99
Balance: $25,000.00 to $2,000,000.99
Balance: $250,000 - $499,999.99
Balance: $250,000; Credit Frequency: Monthly
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Balance: $250,000 - $499,999.99
Balance: $100,000 - $249,999.99
Balance: $1,000,001-$1,500,000; Credit Frequency: Monthly
Balance: $500,000 and up
Balance: $25,000.00 to $2,000,000.99
Balance: $250,000+
Annual Percentage Yield (APY) is accurate as of March 2, 2026, and is subject to change, including after account opening, without notice. A minimum deposit of $20,000 is required to open the account and earn the APY. If your daily balance is between $20,000 and $49,999.99, you will obtain an APY of 2.65%. If your daily balance is between $50,000 and $99,999.99, you will obtain an APY of 2.80%. If your daily balance is between $100,000 and $249,999.99, you will obtain an APY of 3.00%. If your daily balance is between $250,000 and $499,999.99, you will obtain an APY of 3.25%. If your daily balance is $500,000 or more, you will obtain an APY of 3.50%. A minimum balance fee of $20.00 will be imposed every statement cycle if the balance in the account falls below $20,000.00 any day of the cycle. Fees could reduce the earnings on the account.
Balance: $100,000 and greater
Balance: $250,000 plus; APY is paid on entire balance in accounts
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Qualifications Required: 21+ debit or credit card transactions per month; minimum of $1,500 in direct deposit(s) and/or mobile deposit into a qualifying account within the last 31 days; Level 2: All-In Required: 21+ debit or credit card transactions per month and a minimum of $1,500 in direct deposit(s) and/or mobile deposit into a qualifying account within the last 31 days. APY=Annual Percentage Yield. Rates may change after account is opened. Rate is accurate as of last dividend declaration date. Account opening deposit not required. Fees may reduce earnings on this account. Transaction count is NOT a combination of debit and credit card transactions. Debit Card transactions must be posted to the account within the last 31 days and be posted to the account by the end of business day of the last day of the month for it to be considered a qualifying transaction. Credit Card transactions must be posted between the 27th of the previous month and the 26th of the current month to be considered a qualifying transaction. Dividends are compounded and credited monthly and are calculated based on the daily balance method. Excludes ATM and cash transactions. For full terms and conditions, please refer to our Truth in Savings Disclosure. Rate = dividend rate.
Balance: $200,000.00+
Balance: $200,000 - $249,999.99
Balance: $250,000 - $499,999.99
Balance: $1,500,001; Credit Frequency: Monthly
Balance: $100,000 - $249,999.99; Balance: $100,000 - $249,999.99; Rate: Federal Funds Effective Rate minus 0.50%
APY of 3.15% is accurate as of 12/12/25 on balances of $10,000 and more. Interest paid monthly. A monthly fee of $25 will be assessed if the minimum daily balance falls below $10,000. Fees may reduce earnings on the account. Interest rates and APY may change at any time without notice at the Bank's discretion. We use the daily balance method to calculate interest on the account. New deposits only.
Qualifications Required: 21+ debit or credit card transactions per month; minimum of $1,500 in direct deposit(s) and/or mobile deposit into a qualifying account within the last 31 days; Level 2: All-In Required: 21+ debit or credit card transactions per month and a minimum of $1,500 in direct deposit(s) and/or mobile deposit into a qualifying account within the last 31 days. APY=Annual Percentage Yield. Rates may change after account is opened. Rate is accurate as of last dividend declaration date. Account opening deposit not required. Fees may reduce earnings on this account. Transaction count is NOT a combination of debit and credit card transactions. Debit Card transactions must be posted to the account within the last 31 days and be posted to the account by the end of business day of the last day of the month for it to be considered a qualifying transaction. Credit Card transactions must be posted between the 27th of the previous month and the 26th of the current month to be considered a qualifying transaction. Dividends are compounded and credited monthly and are calculated based on the daily balance method. Excludes ATM and cash transactions. For full terms and conditions, please refer to our Truth in Savings Disclosure. Rate = dividend rate.
Balance: $1,000,000.00 and greater
Balance: $100,000 - $199,999.99
Balance: $200,000 - $249,999.99
Term: $250,000.00 and above; Balance: $250,000.00 and above
Balance: $100,000; Credit Frequency: Monthly
Balance: $50,000 or more; Compounding and Crediting Frequency: Monthly
Maintain a minimum $2,500 daily balance to avoid $25 monthly maintenance fee
Balance: $1,000,000 and over
Balance: $1,000,000 and over
$250,000; Balance: $250,000 and over1 2
Balance: $125,000.00-$199,999.99
Balance: $25,000 - $49,999; Compounding and Crediting Frequency: Monthly
Tiered dividend rates reward higher balances, and you can still access your money whenever you need it.
Level 1. APY=Annual Percentage Yield. Rates may change after account is opened. Rate is accurate as of last dividend declaration date. Account opening deposit not required. Fees may reduce earnings on this account. Transaction count is NOT a combination of debit and credit card transactions. Debit Card transactions must be posted to the account within the last 31 days and be posted to the account by the end of business day of the last day of the month for it to be considered a qualifying transaction. Credit Card transactions must be posted between the 27th of the previous month and the 26th of the current month to be considered a qualifying transaction. Dividends are compounded and credited monthly and are calculated based on the daily balance method. Excludes ATM and cash transactions. For full terms and conditions, please refer to our Truth in Savings Disclosure. Rate = dividend rate.
Term: $100,000.00 - $249,999.99; Balance: $100,000.00 - $249,999.99
Balance: $250,000 - $499,999.99
Balance: $500,000.00 and over
Qualifications Required: 20-39 debit card transactions per month; enrolled in e-statements; Tier 2: Accounts with 20-39 debit card transactions per month and enrolled in e-statements. Balances $10,001 and above will earn .05% APY.
Balance: $75,000.00-$124,999.99
Balance: $150,000.00 or more*; Rate*: 2.75%
Level 1. APY=Annual Percentage Yield. Rates may change after account is opened. Rate is accurate as of last dividend declaration date. Account opening deposit not required. Fees may reduce earnings on this account. Transaction count is NOT a combination of debit and credit card transactions. Debit Card transactions must be posted to the account within the last 31 days and be posted to the account by the end of business day of the last day of the month for it to be considered a qualifying transaction. Credit Card transactions must be posted between the 27th of the previous month and the 26th of the current month to be considered a qualifying transaction. Dividends are compounded and credited monthly and are calculated based on the daily balance method. Excludes ATM and cash transactions. For full terms and conditions, please refer to our Truth in Savings Disclosure. Rate = dividend rate.
Balance: $250,000.00 and over
Qualifications Required: 21+ debit or credit card transactions per month; minimum of $1,500 in direct deposit(s) and/or mobile deposit into a qualifying account within the last 31 days; Level 2: All-In Required: 21+ debit or credit card transactions per month and a minimum of $1,500 in direct deposit(s) and/or mobile deposit into a qualifying account within the last 31 days. APY=Annual Percentage Yield. Rates may change after account is opened. Rate is accurate as of last dividend declaration date. Account opening deposit not required. Fees may reduce earnings on this account. Transaction count is NOT a combination of debit and credit card transactions. Debit Card transactions must be posted to the account within the last 31 days and be posted to the account by the end of business day of the last day of the month for it to be considered a qualifying transaction. Credit Card transactions must be posted between the 27th of the previous month and the 26th of the current month to be considered a qualifying transaction. Dividends are compounded and credited monthly and are calculated based on the daily balance method. Excludes ATM and cash transactions. For full terms and conditions, please refer to our Truth in Savings Disclosure. Rate = dividend rate.
Balance: Over $50,000
Balance: $100,000.00 and over
Balance: $75,000.01 and above
Term: $50,000.00 - $99,999.99; Balance: $50,000.00 - $99,999.99
Balance: $150,001 and Above
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Balance: $50,000.01 and greater; Dividend Paid: Quarterly
Balance: $250,000.00 - $499,999.99
$100,000 - $249,999.99; Balance: $100,000 - $249,999.991 2
Balance: $500,000 to $999,999.99
Balance: $500,000 to $999,999.99
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Illinois Money Market Rate Trends
Compare local Illinois money market quotes against the statewide average
Daily money market rate averages tracked across our database of 8,500+ banks and credit unions, updated every evening.
Illinois high-yield MMA rates rose 0.023 points over the past 7 days to 3.060% APY.
Illinois standard MMA rates fell 0.021 points over the past 7 days to 0.732% APY.
Illinois Money Market Rate Forecast, Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current IL high-yield MMA average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Money market account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current IL high-yield money market average of 3.060% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60–90 days. High-yield money market rates tend to adjust faster than standard branch-based accounts.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Illinois.
Money Market Account Earnings in Illinois
Annual interest earnings at current IL average APYs, based on the high-yield and standard money market averages tracked in our database. Balances reflect the higher minimums typical of money market accounts. Compounding assumed monthly.
| Balance | HY Money Market (3.060% APY) | Monthly Earnings | Standard MMA (0.732% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $306.00 / year | $25.50 | $73.15 / year | $6.10 |
| $25,000 | $765.00 / year | $63.75 | $182.88 / year | $15.24 |
| $50,000 | $1,530.00 / year | $127.50 | $365.75 / year | $30.48 |
| $100,000 | $3,060.00 / year | $255.00 | $731.50 / year | $60.96 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, rate tier, and daily balance maintained. Rates are variable and subject to change. Source: Illinois money market rate averages as of September 22, 2026. | ||||
About Our Illinois Money Market Rate Database
MonitorBankRates tracks 51 money market rates from 29 banks and 22 credit unions offering money market deposit accounts to Illinois residents, including community institutions, regional banks, and national online options. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website, no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio, objective financial health metrics calculated from FDIC and NCUA regulatory data, so you can compare yield and institutional safety in one place.
Current top rate: Great Lakes Credit Union offers a money market account at 5.00% APY. Use the rate table above to compare all current offers in Illinois.
How to Find the Best Money Market Rates in Illinois
What to compare when shopping for a money market account in Illinois
To find the best money market APYs in Illinois, start with credit unions and online-only banks: Illinois has 22 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate, and pay close attention to balance tiers. Many money market accounts only pay their advertised top rate above a minimum balance of $1,000–$25,000, with lower rates (or monthly fees) below that threshold. The current IL high-yield money market average is 3.060% but top local institutions are offering as high as 5.00%, so shopping around pays off.
Unlike a CD, money market rates are variable. Your rate can change at any time with Federal Reserve policy. Also check check-writing and debit card limits: most MMAs allow a set number of withdrawals per month, and exceeding the limit can trigger fees. Review your account periodically to ensure your APY remains competitive.
When a Money Market Account Makes Sense
- Emergency fund with flexibility: You get savings-level yields plus limited check-writing and debit access. Illinois high-yield money market rates currently average 3.060% APY, far above a typical checking account.
- Larger balances ($10,000+): Many MMAs pay tiered rates that rise with your balance, so bigger deposits often earn more than they would in a standard savings account.
- Parking cash between investments: A high-yield money market account at Illinois institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 51 institutions in Illinois report money market rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Illinois CD rates
- You don’t need check writing and want a lower minimum → Illinois savings rates
- You need daily transaction access → Illinois checking rates
Illinois Financial Snapshot
Local demographics and economic context for savers . Source: U.S. Census Bureau
17.0% of residents are 65 or older, in line with the national average of 17.3%. At today’s IL high-yield money market average of 3.060%, saving 10% of the local median salary ($4,839/year) would earn an additional $148 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other Illinois Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in Illinois.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current IL Avg APY | 3.060% | View Savings Rates | 0.732%(Standard MMA) | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✓ Often yes | ✗ No | ✗ No | ✗ No |
| Debit / ATM Card | ✓ Often yes | Some institutions | ✗ Rarely | ✗ No |
| Typical Min Deposit | $0 – $2,500 | $0 – $100 | $25 – $100 | $500 – $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | None, locked for term |
| Best For | Active savers wanting flexibility + check writing | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Locking in a rate for a defined period |
APY data reflects Illinois averages tracked in our database as of September 22, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Illinois Money Market Account Calculator
See how much a money market account can earn you. Enter your deposit, monthly contribution, and time frame, or click any current Illinois rate on the right to apply it instantly. Interest compounds monthly.
Assumes monthly compounding and a constant APY for the full period. Money market rates are variable and can change at any time, so actual earnings will differ. Estimates are for informational purposes only.
Money Market & Savings Calculators for Illinois
At IL’s top money market rate of 5.00% from Great Lakes Credit Union, a $10,000 deposit earns $500 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Illinois earner is roughly $12,100. At 3.060% APY in a money market account, saving $1,010/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountIllinois’s high-yield money market average is 3.060% APY, variable, always accessible, and often with check-writing. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Illinois earner makes $48,393/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 3.060% APY.
Retirement PlannerA $25,000 money market balance earning 3.060% APY grows to roughly $45,682 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Illinois money market rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Money Market Rate Data: We aggregate money market deposit account rates for Illinois directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every money market rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Illinois. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in IL.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update money market rates daily. Because MMA yields can fluctuate rapidly based on market conditions, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Money Market Accounts in Illinois
What is a Money Market Account (MMA)?
Are Money Market accounts in Illinois safe?
How often do MMA rates change in Illinois?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in Illinois?
Can I lose money in a Money Market Account?
What is the difference between a Money Market Account and a Money Market Fund?
Do I have to pay taxes on money market account interest?
Are online banks better than local banks in Illinois for money market accounts?
Best Money Market Rates in Illinois
- Great Lakes Credit Union
Money Market Account: 5.00% APY - De Witt Savings Bank
N-Vest Money Market - Tier 7: 4.07% APY - United Trust Bank
Business Premium Money Market Special: 4.00% APY - FCB Banks
Hometown Money Market (with Direct Deposit): 3.85% APY - Consumers Credit Union
Business Money Market: 3.82% APY
Cities in Illinois
