An emergency fund needs to do two things at once: earn a decent return and be available the moment you need it. High-yield savings accounts and money market accounts both promise that combination, and both usually pay far more than a traditional bank savings account. But they are not identical, and the differences matter for money you may need in a hurry.

The choice comes down to how you access the money, how the rate behaves, and what protections apply. This guide compares the two directly, so you can pick the account that fits your emergency fund rather than guessing.