Best money market account rates today, October 12, 2025 (best account provides 4.4% APY)

Core Insights - The Federal Reserve has cut its target rate three times in 2024 and recently made its first cut in 2025, leading to a decline in deposit rates, including money market account (MMA) rates [1] - The national average MMA rate is currently at 0.59%, but some top accounts are offering rates of 4% APY and higher, prompting a recommendation to open accounts to take advantage of these rates [2] Group 1: Money Market Account Rates - The national average money market account rate is 0.59% according to the FDIC [2] - Some of the best MMA accounts are offering rates of 4% APY and above, which may not last long [2] - It is advisable to compare MMA rates to maximize earnings on deposits [1][2] Group 2: Interest Earnings from Money Market Accounts - Interest earned from a money market account is determined by the annual percentage rate (APY) and the frequency of compounding, which is typically daily [3] - A $1,000 deposit at an average rate of 0.59% would yield a total of $1,005.92 after one year, while a 4% APY would grow the balance to $1,040.81 [4] - Higher deposits lead to greater earnings; for example, a $10,000 deposit at 4% APY would result in a total of $10,408.08 after one year, earning $408.08 in interest [5]