Best money market account rates today, January 13, 2026 (Earn up to 4.1% 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 0.39%, while the best rates can exceed 4% APY, comparable to high-yield savings accounts [3] - By late 2023, many MMAs were offering rates of 4.00% or higher, with some accounts potentially exceeding 5% APY throughout 2024 [7] - Rates have been high historically but are trending downward following the Federal Reserve's rate cuts in late 2024 and three cuts in 2025 [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 began to rise as the economy improved and the Fed increased 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] - Some MMAs require a high minimum balance, often $5,000 or more, to earn the highest advertised rates, and monthly maintenance fees can reduce interest earnings [10] - There are competitive MMAs available without balance requirements or fees, emphasizing the importance of comparing options [10] Insurance and Safety - It is crucial to ensure that the chosen MMA is insured by the FDIC or NCUA, which guarantees deposits up to $250,000 per institution, per depositor [11] Earnings Example - For a deposit of $10,000 in an MMA with a 4% APY and monthly compounding, the account would yield approximately $407.44 in interest after one year, resulting in a total balance of $10,407.44 [14]