A money market account offered by an FDIC-insured bank is a safe place to stash an emergency fund. These types of accounts tend to have higher interest rates than a traditional savings account. But a money market account is still a lackluster option compared to a high-yield savings account. This type of savings account can come with interest rates as high as 2.00% APY (as of November 2019). Keeping an emergency fund in a high-interest savings account keeps your money on-hand and accessible, while also giving it the chance to grow faster and earn you more.