Rhode Island Money Market Rates - October 2026
Brian McKay
Brian McKay
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Rhode Island money market account rates range from 0.15% to 4.00% APY, verified by MonitorBankRates as of October 13, 2026. Current Rhode Island money market deposit account rates include Bank5 ConnectBank5 Connect590 Metacom Ave, Bristol, RI 02809A5.0 ★Texas Ratio: 7.62%Real return: +1.20%APY minus 2.8% CPI (February 2026) Connect Money Market at 4.00% APY, Eastern BankEastern Bank180 Washington St, Providence, RI 02903A+5.0 ★Texas Ratio: 2.61%Real return: +1.20%APY minus 2.8% CPI (February 2026) Money Market Plus at 4.00% APY, Citizens BankCitizens Bank8 Washington Sq, Newport, RI 02840A+5.0 ★Texas Ratio: 5.44%Real return: +0.70%APY minus 2.8% CPI (February 2026) Citizens Private Client Money Market at 3.50% APY, BrightBridge Credit UnionBrightBridge Credit Union1847 W Main Rd, Portsmouth, RI 02871 1037A+5.0 ★Texas Ratio: 5.49%Real return: +0.60%APY minus 2.8% CPI (February 2026) Business Money Market at 3.40% APY, and Beacon Bank and TrustBeacon Bank and Trust100 Bellevue Ave, Newport, RI 02840A+5.0 ★Texas Ratio: 5.36%Real return: +0.40%APY minus 2.8% CPI (February 2026) Beacon One Money Market at 3.20% APY. Money market rates as of October 13, 2026 according to verified data from MonitorBankRates.
Use the tables below to compare money market rates across Rhode Island side-by-side. Rhode Island money market rates currently reach as high as 4.00% APY from Bank5 Connect at 590 Metacom Ave, Bristol, RI 02809. Rates are continually updated, so we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Rhode Island and surrounding area. Last Updated and Verified: October 13, 2026
Compare the Best Money Market Rates Today in Rhode Island
Balance: $25,000-$10,000,000
Balance: $25,000-$10,000,000
Preferred rates; New money is required to qualify for preferred rates.
Preferred rates; New money required to qualify for preferred rates.
Balance: $1,000,000+
Balance: $1,000,000+; The minimum balance to avoid a service fee is $2,500.00. Fees may reduce earnings. Rates subject to change daily and may change after the account is opened.
Balance: $25,000-$10,000,000
Requires a Beacon Bank checking account with an ownership relationship. Balance cannot exceed $5,000,000. Interest rate paid on the entire balance.
- Oct 2, 20263.20%▲ from 3.05%
- Sep 28, 20263.05%first recorded
Requires a Beacon Bank checking account with an ownership relationship. Balance cannot exceed $5,000,000. Interest rate paid on the entire balance.
Balance: $250,000.00 and above; A minimum balance of $100 and an active eChecking account is required
For members with an excess of $250,000 on deposit at People's Credit Union; Balance: $2,500.00 minimum daily balance to earn APY; How to Open: Contact Us; Interest rates subject to change without notice after account opening
For members with an excess of $250,000 on deposit at People's Credit Union; How to Open: Contact Us
Balance: $50,000.00-and Greater
Balance: $250,000.00 and above; Requires a new or current Business Checking account
- Oct 13, 20262.80%▲ from 1.05%
- Sep 14, 20261.05%first recorded
Balance: $100,000.00 to $249,999.99; A minimum balance of $100 and an active eChecking account is required
Balance: $250,000.00 or Greater; Open Online: 401-739-4600 (phone, not a channel rate)
Tier 4: balances of $50,000 or more; advertised APY applies to Tier 4
Balance: $100,000.00 to $249,999.99; Requires a new or current Business Checking account
- Oct 13, 20262.55%▲ from 1.05%
- Sep 14, 20261.05%first recorded
Balance: $0.01 - $24,999.99
Balance: $100,000 - $24,999.99
Balance: $500,000.00 and over; How to Open: Contact Us
Balance: $50,000.00 to $99,999.99; A minimum balance of $100 and an active eChecking account is required
Balance: $10,000-$49,999.99; Tier 3; Minimum balance to open $2,500; Interest rate not stated for this tier
Balance: $500,000.00 or greater
Balance: $500,000 or greater
Balance: $50,000.00 minimum to earn APY; How to Open: Contact Us
Balance: $100,000.00-$249,999.99; Open Online: 401-739-4600 (phone, not a channel rate)
Balance: $250,000.00 or Greater
Balance: $1,000,000 and over
Balance: $250,000+
Balance: $250,00.00 - $499,999.99
Balance: $250,000-$499,999.99
Balance: $100,000 - $249,999.99
Balance: $2,500.00 minimum to earn APY; How to Open: Contact Us
Balance: $200,000.00 & Over; Interest Paid: Monthly
Balance: $75,000.00 and over; Interest Paid: Monthly
Balance: $500,000 - $999,999
Balance: $50,000.00 - $199,999.99; Interest Paid: Monthly
Balance: $50,000.00 - $74,999.99; Interest Paid: Monthly
Balance: $100,000.00 - $249,999.99
Balance: $100,000-$249,999.99
Balance: $250,000.00+
Balance: $500,000.00+
Balance: $250,000.00+
Balance: $250,000 - $499,999
Balance: $150,000.00-$249,999.99
Balance: $100,000 - $249,999
Balance: $25,000.00 - $49,999.99; Interest Paid: Monthly
Balance: $25,000.00 - $49,999.99; Interest Paid: Monthly
Balance: $50,000 - $99,999.99
Balance: $50,000-$99,999.99
Balance: $50,000 and over
Balance: $25,000.00 to $99,999.99; Requires a new or current Business Checking account
- Oct 13, 20261.55%▲ from 1.05%
- Sep 14, 20261.05%first recorded
Balance: $50,000 and over
Balance: $25,000.00-$99,999.99; Open Online: 401-739-4600 (phone, not a channel rate)
Balance: $2,500.00 - $24,999.99; Interest Paid: Monthly
Balance: $2,500.00 - $24,999.99; Interest Paid: Monthly
Balance: $250,000 - $999,999.99
Balance: $250,000-$999,999.99; The minimum balance to avoid a service fee is $2,500.00. Fees may reduce earnings. Rates subject to change daily and may change after the account is opened.
Balance: $25,000.00 - $49,999.99
Balance: $25,000-$49,999.99
Balance: $20,000.00 to $49,999.99; A minimum balance of $100 and an active eChecking account is required
Balance: $150,000 or more; Offer available to business accounts only; Interest credited monthly
Balance: $75,000.00 and over; Effective as of 10/01/26; Rates may change daily as determined by the Credit Union's Board of Directors
Balance: $50,000.00-$149,999.99
Balance: $0.01 - $24,999.99
Balance: $10,000.00 - 24,999.99
Balance: $10,000 - $24,999.99
Balance: $25,000 - $49,999
Balance: $100,000 - $249,999
Balance: $10,000 - $24,999
Balance: $50,000 - $99,999.99
Balance: $0.00 to $24,999.99; Requires a new or current Business Checking account
Balance: $2,500 - $9,999
Balance: $25,000 - $49,999
Balance: $75,000 and over
Balance: $25,000.00 - $74,999.99; Effective as of 10/01/26; Rates may change daily as determined by the Credit Union's Board of Directors
Balance: $100.00 to $19,999.99; A minimum balance of $100 and an active eChecking account is required
Balance: $50,000 - $99,999.99
- Oct 8, 20260.95%▼ from 1.21%
- Sep 30, 20261.21%first recorded
Balance: $25,000 - $49,999.99
Balance: $10-$24,999
Balance: $75,000.00 - $249,999.99
Balance: $250,000.00 - $499,999.99
Balance: $75,000.00 - $249,999.99
Balance: $0.01 - $24,999.99
Balance: $10,000 - $24,999.99
- Oct 8, 20260.45%▲ from 0.30%
- Sep 30, 20260.30%first recorded
Balance: $10-$24,999
Balance: $0.01 - $24,999.99
- Oct 8, 20260.30%▼ from 2.53%
- Sep 30, 20262.53%first recorded
Balance: $10,000 - $24,999.99
Balance: $100,000.00
Balance: $100,000.00
Balance: $75,000.00+
Balance: $100,000.00 - $249,999.99
Balance: $75,000.00+
Balance: $50,000.00
Balance: $50,000.00
Balance: $50,000.00 - $74,999.99
Balance: $25,000.00 - $74,999.99
Balance: $50,000.00 - $99,999.99
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.
Rhode Island Money Market Rate Trends
Compare local Rhode Island 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.
Rhode Island high-yield MMA rates rose 0.072 points over the past 7 days to 3.231% APY.
Rhode Island standard MMA rates fell 0.143 points over the past 7 days to 0.495% APY.
Rhode Island Money Market Rate Forecast, Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current RI high-yield MMA average and a Fed funds spread to project the likely rate trajectory for 2026 to 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 RI high-yield money market average of 3.231% 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 to 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 Rhode Island.
Money Market Account Earnings in Rhode Island
Annual interest earnings at current RI 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 (3.231% APY) | Monthly Earnings | Standard MMA (0.495% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $323.06 / year | $26.92 | $49.47 / year | $4.12 |
| $25,000 | $807.65 / year | $67.30 | $123.68 / year | $10.31 |
| $50,000 | $1,615.30 / year | $134.61 | $247.35 / year | $20.61 |
| $100,000 | $3,230.60 / year | $269.22 | $494.70 / year | $41.23 |
| 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: Rhode Island money market rate averages as of October 13, 2026. | ||||
About Our Rhode Island Money Market Rate Database
MonitorBankRates tracks 22 money market rates from 9 banks and 13 credit unions offering money market deposit accounts to Rhode Island 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 to 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: Bank5 Connect offers a money market account at 4.00% APY with a minimum deposit of $100. Use the rate table above to compare all current offers in Rhode Island.
How to Find the Best Money Market Rates in Rhode Island
What to compare when shopping for a money market account in Rhode Island
To find the best money market APYs in Rhode Island, start with credit unions and online-only banks: Rhode Island has 13 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 to $25,000, with lower rates (or monthly fees) below that threshold. The current RI high-yield money market average is 3.231% but top local institutions are offering as high as 4.00%, 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. Rhode Island high-yield money market rates currently average 3.231% 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 Rhode Island institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 22 institutions in Rhode Island report money market rates to our database.
- You’re among Rhode Island’s 18.7% of residents aged 65+ for whom liquid, accessible savings complement fixed-income holdings.
- 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 Rhode Island CD rates
- You don’t need check writing and want a lower minimum Rhode Island savings rates
- You need daily transaction access Rhode Island checking rates
Rhode Island Financial Snapshot
Local demographics and economic context for savers . Source: U.S. Census Bureau
18.7% of residents are 65 or older, in line with the national average of 17.3%. At today’s RI high-yield money market average of 3.231%, saving 10% of the local median salary ($4,929/year) would earn an additional $159 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other Rhode Island Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in Rhode Island.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current RI Avg APY | 3.231% | View Savings Rates | 0.495%(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 to $2,500 | $0 to $100 | $25 to $100 | $500 to $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 Rhode Island averages tracked in our database as of October 13, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Rhode Island 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 Rhode Island 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 Rhode Island
At RI’s top money market rate of 4.00% from Bank5 Connect, a $10,000 deposit earns $400 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Rhode Island earner is roughly $12,300. At 3.231% APY in a money market account, saving $1,030/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountRhode Island’s high-yield money market average is 3.231% 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 Rhode Island earner makes $49,299/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 3.231% APY.
Retirement PlannerA $25,000 money market balance earning 3.231% APY grows to roughly $47,218 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 Rhode Island 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 Rhode Island 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 Rhode Island. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in RI.
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 Rhode Island
What is a Money Market Account (MMA)?
Are Money Market accounts in Rhode Island safe?
How often do MMA rates change in Rhode Island?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in Rhode Island?
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 Rhode Island for money market accounts?
Best Money Market Rates in Rhode Island
- Bank5 Connect
Connect Money Market: 4.00% APY - Eastern Bank
Money Market Plus: 4.00% APY - Citizens Bank
Citizens Private Client Money Market: 3.50% APY - BrightBridge Credit Union
Business Money Market: 3.40% APY - Beacon Bank and Trust
Beacon One Money Market: 3.20% APY
Rhode Island Rates & Resources
Cities in Rhode Island
