Best money market account rates today, September 28, 2025 (best account provides 4.4% APY)

Group 1 - The Federal Reserve has cut its target rate three times in 2024 and recently for the first time in 2025, leading to a decline in deposit rates, including money market account (MMA) rates [1] - The national average money market account rate is currently at 0.59%, while some top accounts are offering rates of 4% APY and higher, suggesting a potential opportunity for consumers to open accounts to benefit from these rates [2] - The interest earned from a money market account is determined by the annual percentage rate (APY), which reflects total earnings after one year, factoring in the base interest rate and compounding frequency [3] Group 2 - A $1,000 deposit in an MMA at the average interest rate of 0.59% with daily compounding would yield a balance of $1,005.92 after one year, resulting in $5.92 in interest [4] - In contrast, a high-yield money market account offering 4% APY would grow a $1,000 deposit to $1,040.81 over the same period, generating $40.81 in interest [4] - Increasing the deposit amount significantly impacts earnings; for example, a $10,000 deposit at 4% APY would result in a total balance of $10,408.08 after one year, yielding $408.08 in interest [5]