Best money market account rates today, September 23, 2025 (Earn up to 4.40% APY)

Core Insights - Money market accounts (MMAs) offer higher interest rates compared to traditional savings accounts, along with liquidity and flexibility, making them suitable for long-term savings that may be accessed for purchases or bills [1] Interest Rates Overview - The national average interest rate for MMAs is currently 0.59%, while the best rates can exceed 4% APY, comparable to high-yield savings accounts [3][13] - As of late 2023, many MMAs are offering rates of 4.00% or higher, with some accounts providing rates above 5% APY throughout 2024 [7][8] Historical Context - MMA rates have fluctuated significantly due to changes in the Federal Reserve's target interest rate, particularly following the 2008 financial crisis and the COVID-19 pandemic [4][5][6] - The Federal Reserve's aggressive interest rate hikes starting in 2022 led to historically high deposit rates for MMAs [7] Considerations for Choosing MMAs - When selecting an MMA, factors beyond interest rates should be considered, such as minimum balance requirements, fees, and withdrawal limits [9][10] - Some MMAs may require a high minimum balance to earn the highest rates, and monthly maintenance fees can reduce interest earnings [10][16] - It is crucial to ensure that the chosen account is insured by the FDIC or NCUA, which protects deposits up to $250,000 per institution [11]