Savings Rates

The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.

For every review, our editorial team:

• Identifies five measurable aspects to compare across each brand
• Determines the rating criteria for each aspect score
• Averages the five aspect scores to produce a single SimpleScore

Here’s a breakdown of the five aspect scores and their rating criteria for our review of the best money market accounts of 2020.

Why do some brands have different SimpleScores on different pages?

To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For example, if we look at CD products for Ally, it scores a 4.6 out of 5 for our CD SimpleScore metrics. However, when we apply the metrics we measure for money market account SimpleScores, Ally scores a 4.4 out of 5. These two different financial products have two separate SimpleScore metric ratings to account for differences between them. We adjust our ratings based on industry standards for each category.

Have questions about our methodology?

Email Hayley Armstrong at hayley@thesimpledollar.com.