Best money market account rates today, September 29, 2025 (Earn up to 4.4% APY)

Core Insights - Money market accounts (MMAs) are highlighted as a favorable option for storing cash due to their relatively high interest rates, liquidity, and flexibility [1][2] - The current landscape shows that despite a recent decline in rates, many MMAs still offer rates exceeding 4% APY [3][7] Interest Rate Trends - Historical data indicates that MMA rates have experienced significant fluctuations, primarily influenced by the Federal Reserve's interest rate policies [4][6] - Following the 2008 financial crisis, MMA rates were extremely low, typically ranging from 0.10% to 0.50% due to the Fed's near-zero federal funds rate [5] - The Fed's aggressive rate hikes starting in 2022 led to historically high MMA rates, with many accounts offering 4% or higher by late 2023 [7][8] Account Comparison Factors - When selecting a money market account, it is crucial to consider factors beyond just the interest rate, such as minimum balance requirements, fees, and withdrawal limits [9][10] - Some MMAs may require a minimum balance of $5,000 or more to earn the highest advertised rates, while others may charge monthly maintenance fees [10] - There are competitive MMAs available that do not impose balance requirements or fees, emphasizing the importance of thorough comparison [10] Insurance and Safety - It is essential to ensure that the chosen money market account is insured by the FDIC or NCUA, which protects deposits up to $250,000 per institution, per depositor [11] - Most MMAs are federally insured, but verification is recommended to safeguard against potential financial institution failures [11] Current Market Rates - The national average interest rate for money market accounts is reported at 0.59%, while the best rates can reach around 4% to 4.50% APY [12] - As of now, no MMAs are offering 5% APY, although some high-yield savings accounts from online banks do [14]