Best Money Market Rates in Memphis, Tennessee - June 2026
Content reviewed by
Brian McKay
i
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Brian McKay
Brian McKay
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Editorial Disclosure
The rates displayed are actual, verified rates sourced directly from the official websites of banks and credit unions. Our editorial content is independent of any advertiser relationships.
Current Memphis, Tennessee and the surrounding area money market deposit account rates include U TU T910 Madison Ave, Memphis, TN 38103A+5.0 ★Texas Ratio: 1.45% Business Money Market at 3.85% APY, TruistTruist1895 Union Ave, Memphis, TN 38104A+5.0 ★Texas Ratio: 3.63% Small Business Money Market Account at 3.40% APY, Financial Federal BankFinancial Federal Bank1715 Aaron Brenner Dr, Memphis, TN 38120A+5.0 ★Texas Ratio: 0.01% Money Market at 3.30% APY, Firefighters First Federal Credit UnionFirefighters First Federal Credit Union5150 Stage Rd Ste 102, Memphis, TN 38134 3169A+5.0 ★Texas Ratio: 1.51% Traditional/Roth IRA Money Market at 1.75% APY, and FedEx Employees Credit Association Federal Credit UnionFedEx Employees Credit Association Federal Credit Union3670 Hacks Cross Rd, Memphis, TN 38125A5.0 ★Texas Ratio: 5.77% Money Market at 1.75% APY. Money market rates as of June 3, 2026 according to verified data from MonitorBankRates.
Memphis has 9 local institutions in our database, with money market rates as high as 3.85% APY from U T at 910 Madison Ave, Memphis, TN 38103. Use the table below to compare all available offers, including options from institutions serving the broader Tennessee area. Rates are continually updated — we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Memphis, Tennessee and surrounding area. Last Updated and Verified: June 3, 2026
Compare the Best Money Market Rates Today in Memphis, Tennessee & the Surrounding Area
Source: Verified Money Market Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Business Money Market
3.85%
$0
▼
Rate3.78%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Business Money Market and over
3.85%
$0
▼
Rate3.78%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
$250,000
Truist
Institution Rating:
A+5.0 ★ Texas Ratio: 3.63%
1895 Union Ave, Memphis, TN 38104
Small Business Money Market Account
3.40%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
Eligible clients can earn a 3.40% annual percentage yield (APY) with a new Truist Business Money Market account. Promotional Interest Rate is 3.34% and the Annual Percentage Yield (APY) is 3.40% for balances $0.01 and greater. Your new Money Market Account could initially earn a rate lower than 3.40% APY. However, within 10 calendar days of account opening, your eligible account will automatically upgrade to the 3.40% APY rate. The standard interest rate and APY are 0.01%. Fees may reduce earnings.
Financial Federal Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.01%
1715 Aaron Brenner Dr, Memphis, TN 38120
Money Market
3.30%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
Interest earned on the entire daily balance. Fees could reduce earnings on account.
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Business Money Market
3.30%
$0
▼
Rate3.25%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
$100,000-$249,999
Financial Federal Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.01%
1715 Aaron Brenner Dr, Memphis, TN 38120
Money Market
3.20%
$5,000
▼
Rate—
Min Deposit$5,000
Min Balance—
UpdatedJun 3, 2026
Details
Interest earned on the entire daily balance. Fees could reduce earnings on account.
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Business Money Market Account
1.75%
$0
▼
Rate1.74%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 5.77%
3670 Hacks Cross Rd, Memphis, TN 38125
Money Market
1.75%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Money Market
1.75%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Traditional/Roth IRA Money Market
1.75%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Traditional/Roth IRA Money Market
1.70%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Money Market
1.70%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Business Money Market Account
1.70%
$0
▼
Rate1.69%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Traditional/Roth IRA Money Market
1.65%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Money Market
1.65%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Business Money Market Account
1.65%
$0
▼
Rate1.64%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Business Money Market Account
1.60%
$0
▼
Rate1.59%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 5.77%
3670 Hacks Cross Rd, Memphis, TN 38125
Money Market
1.60%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Traditional/Roth IRA Money Market
1.60%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Money Market
1.60%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 5.77%
3670 Hacks Cross Rd, Memphis, TN 38125
Money Market
1.55%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 5.77%
3670 Hacks Cross Rd, Memphis, TN 38125
Money Market
1.50%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
LG&W Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.43%
1616 Whitten Rd, Memphis, TN 38134
Money Market
1.50%
$0
▼
Rate1.50%
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 5.77%
3670 Hacks Cross Rd, Memphis, TN 38125
Money Market
1.45%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Business Money Market
1.25%
$0
▼
Rate1.24%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
$25,000-$99,999
LG&W Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.43%
1616 Whitten Rd, Memphis, TN 38134
Money Market
1.00%
$0
▼
Rate1.00%
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
First Horizon
Institution Rating:
A+5.0 ★ Texas Ratio: 5.08%
165 Madison Ave, Memphis, TN 38103
TotalView Money Market Savings
0.75%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
First Horizon
Institution Rating:
A+5.0 ★ Texas Ratio: 5.08%
165 Madison Ave, Memphis, TN 38103
TotalView Money Market Savings
0.60%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
First Horizon
Institution Rating:
A+5.0 ★ Texas Ratio: 5.08%
165 Madison Ave, Memphis, TN 38103
TotalView Money Market Savings
0.50%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Business Money Market
0.50%
$0
▼
Rate0.50%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
$10,000-$24,999
First National Bank of Eastern Arkansas
Institution Rating:
A+5.0 ★ Texas Ratio: 3.22%
775 Ridge Lake Blvd, Memphis, TN 38120
Money Market Investment
0.25%
$0
▼
Rate0.25%
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
$0.01 - $49,999.99 / $50,000 & Above
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Traditional/Roth IRA Money Market
0.25%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Savings
0.25%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
UP TO 0.25% APY for Balances Over $10,000
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Account
0.25%
$0
▼
Rate0.25%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Savings for Businesses
0.25%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Balances over $100,000 earn dividends
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Business Money Market
0.25%
$0
▼
Rate0.25%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
Up to $9,999
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Money Market
0.20%
$0
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
LG&W Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.43%
1616 Whitten Rd, Memphis, TN 38134
Money Market
0.20%
$0
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Account
0.20%
$0
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Money Market
0.15%
$0
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
Qualifying balance up to $49,999.00
First Horizon
Institution Rating:
A+5.0 ★ Texas Ratio: 5.08%
165 Madison Ave, Memphis, TN 38103
Money Market Savings
0.15%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
First Horizon
Institution Rating:
A+5.0 ★ Texas Ratio: 5.08%
165 Madison Ave, Memphis, TN 38103
Money Market Savings
0.10%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Money Market
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
Qualifying balance up to $24,999.00
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Account
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Account
0.05%
$0
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Financial Federal Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.01%
1715 Aaron Brenner Dr, Memphis, TN 38120
Money Market
0.05%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
Interest earned on the entire daily balance. Fees could reduce earnings on account.
U T
Institution Rating:
A+5.0 ★ Texas Ratio: 1.45%
910 Madison Ave, Memphis, TN 38103
Money Market
0.05%
$0
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
Qualifying balance up to $1,999.00
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Money Market
0.05%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.51%
5150 Stage Rd Ste 102, Memphis, TN 38134 3169
Business Money Market Account
0.05%
$0
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.33%
3155 Millbranch Rd, Memphis, TN 38116 1917
Money Market Account
0.01%
$0
▼
Rate0.01%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Beacon Financial Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.23%
DO MORE Money Market Account
4.00%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 20, 2026
Details
with recurring monthly $500 Direct Deposit
Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.38%
Business Money Market
3.56%
$0
▼
Rate3.50%
Min Deposit$0
Min Balance—
UpdatedMay 29, 2026
Details
Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.38%
Traditional Money Market
3.56%
$0
▼
Rate3.50%
Min Deposit$0
Min Balance—
UpdatedMay 29, 2026
Details
Rate—
Min Deposit$0
Min Balance—
UpdatedMay 20, 2026
Details
as high as
Nashville Firemens Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.99%
Money Market
3.33%
$0
▼
Rate3.33%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
UNIFY Financial Federal Credit Union
Institution Rating:
B4.4 ★ Texas Ratio: 17.71%
Money Market Plus Account
3.25%
$0
▼
Rate3.20%
Min Deposit$0
Min Balance—
UpdatedMay 22, 2026
Details
Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.38%
High-Yield Money Market
3.14%
$0
▼
Rate3.10%
Min Deposit$0
Min Balance—
UpdatedMay 29, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Business Money Market Accounts
3.10%
$0
▼
Rate3.06%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Money Market Accounts
3.10%
$0
▼
Rate3.06%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Business Money Market Accounts
3.05%
$0
▼
Rate3.01%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Money Market Accounts
3.05%
$0
▼
Rate3.01%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Money Market Accounts
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Liberty Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.06%
Money Market Share Accounts
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Business Money Market Accounts
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Business Money Market Accounts
2.95%
$0
▼
Rate2.91%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Money Market Accounts
2.95%
$0
▼
Rate2.91%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Planters Bank & Trust Company
Institution Rating:
A+5.0 ★ Texas Ratio: 3.98%
High Yield Money Market
2.95%
$0
▼
Rate—
Min Deposit$0
Min Balance—
UpdatedJun 3, 2026
Details
Nashville Firemens Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.99%
Money Market
2.83%
$0
▼
Rate2.83%
Min Deposit$0
Min Balance—
UpdatedMay 23, 2026
Details
Heritage South Community Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.52%
Gold Share Money Market Account
2.78%
$0
▼
Rate2.75%
Min Deposit$0
Min Balance—
UpdatedMay 20, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Business Money Market Accounts
2.70%
$0
▼
Rate2.67%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.89%
Money Market Accounts
2.70%
$0
▼
Rate2.67%
Min Deposit$0
Min Balance—
UpdatedMay 17, 2026
Details
Rate1.74%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
Balances of $250,000 or more
Tennessee State Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.56%
Money Market
1.50%
$2,500
▼
Rate1.50%
Min Deposit$2,500
Min Balance—
UpdatedJun 3, 2026
Details
Tennessee State Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.56%
Commercial Money Market
1.50%
$2,500
▼
Rate1.50%
Min Deposit$2,500
Min Balance—
UpdatedJun 3, 2026
Details
Rate1.24%
Min Deposit$0
Min Balance—
UpdatedJun 1, 2026
Details
Balances of $100,000 - $249,999
Tennessee State Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.56%
Commercial Money Market
1.20%
$2,500
▼
Rate1.20%
Min Deposit$2,500
Min Balance—
UpdatedJun 3, 2026
Details
Tennessee State Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.56%
Money Market
1.20%
$2,500
▼
Rate1.20%
Min Deposit$2,500
Min Balance—
UpdatedJun 3, 2026
Details
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MonitorBankRates
The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice. Rates reflect recent market quotes and representative offers available to depositors in Memphis, Tennessee and the surrounding area.
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.
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.
Memphis, TN Money Market Rate Trends
Compare local Memphis, TN 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.
High-Yield MMA — TN Avg
3.244%
Unchanged vs 7 days ago
Tennessee high-yield MMA rates currently average 3.244% APY.
Standard MMA — TN Avg
0.485%
Unchanged vs 7 days ago
Tennessee standard MMA rates currently average 0.485% APY.
As of Jun 3, 2026 • Rate data sourced from 8,500+ monitored institutions
Powered by MonitorBankRates
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Memphis, Tennessee 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 Memphis, Tennessee 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 Memphis, Tennessee. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in TN.
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 Memphis, Tennessee
What is a Money Market Account (MMA)?
A Money Market Account (MMA), formally known as a money market deposit account (MMDA), is a type of deposit account that often pays higher interest rates than standard savings accounts. They usually come with check-writing privileges and debit card access, offering a balance of growth and liquidity for savers in Tennessee.
Are Money Market accounts in Memphis, Tennessee safe?
Yes, as long as the institution is FDIC insured (for banks) or NCUA insured (for credit unions). This provides federal protection for your deposits in Tennessee up to $250,000 per depositor, per institution.
How often do MMA rates change in Memphis, Tennessee?
Money market rates are variable and can change at any time based on market conditions and Federal Reserve decisions. We update our local Tennessee rate tables daily to ensure you see the most current high-yield options.
Can I write checks from a Money Market Account?
Yes, most Money Market Accounts allow you to write a limited number of checks or make debit card transactions each month (typically up to 6), making them more flexible than a standard savings account.
How much do I need to deposit to open a money market account in Memphis, Tennessee?
Minimum deposit requirements vary widely. Some online money market deposit accounts can be opened with no minimum, while many banks and credit unions in Memphis, Tennessee require an initial deposit of $1,000 to $2,500 to earn the highest advertised APY. Larger deposits often unlock higher rate tiers, and FDIC or NCUA insurance protects deposits up to $250,000 per depositor, per institution.
Best Money Market Rates in Memphis, Tennessee
Here are some of the highest money market account APYs currently available in Memphis, Tennessee and the surrounding area:
- U T
Business Money Market — 3.85% APY - Truist
Small Business Money Market Account — 3.40% APY - Financial Federal Bank
Money Market — 3.30% APY - Firefighters First Federal Credit Union
Traditional/Roth IRA Money Market — 1.75% APY - FedEx Employees Credit Association Federal Credit Union
Money Market — 1.75% APY
Money Market Rates reflect actual verified offers from banks and credit unions actively accepting deposits in Memphis, Tennessee. Your final available rate may depend on deposit amount and daily market movements. Last Updated and Verified: June 3, 2026
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