Best money market account rates today, September 30, 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 - The national average interest rate for MMAs is currently 0.59%, while the best rates can exceed 4% APY, similar to high-yield savings accounts [3][13] - By late 2023, many MMAs were offering rates of 4.00% or higher, with some accounts providing rates above 5% APY throughout 2024 [7] - Rates have begun to decline following the Federal Reserve's cuts in late 2024, but they remain high by historical standards [8] Historical Context - MMA rates have fluctuated significantly due to changes in the Federal Reserve's target interest rate, particularly during economic events such as the 2008 financial crisis and the COVID-19 pandemic [4][5][6] - Following the 2008 crisis, MMA rates were low, typically between 0.10% and 0.50%, but increased as the economy improved and the Fed raised interest rates [5][6] Account Features - When selecting an MMA, factors beyond interest rates should be considered, such as minimum balance requirements, fees, and withdrawal limits, which can affect overall value [9][10] - Some MMAs may require a high minimum balance (up to $5,000) to earn the highest rates, and monthly maintenance fees can reduce interest earnings [10][16] - It is essential to ensure that the chosen account is insured by the FDIC or NCUA, which guarantees deposits up to $250,000 per institution, per depositor [11]