Best money market account rates today, January 18, 2026 (best account provides 4.1% APY)

Core Insights - The Federal Reserve has cut its target rate three times in 2025, leading to a steady decline in deposit rates, including money market account (MMA) rates [1] - The national average MMA rate is currently at 0.58%, while some top accounts offer rates of 4% APY and higher, suggesting a potential opportunity for consumers to maximize earnings [2] Group 1: Money Market Account Rates - The national average money market account rate is 0.58% according to the FDIC [2] - Some of the best MMA accounts are offering rates of 4% APY and above, indicating a significant opportunity for higher earnings [2] - Consumers are encouraged to open money market accounts now to take advantage of these high rates before they potentially decrease [2] Group 2: Interest Earnings - 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] - For a deposit of $1,000 at an average interest rate of 0.58% with daily compounding, the balance after one year would be $1,005.82, yielding $5.82 in interest [4] - In contrast, a high-yield MMA at 4% APY would grow a $1,000 deposit to $1,040.81, resulting in $40.81 in interest over the same period [4] Group 3: Impact of Deposit Amount - The potential earnings increase with larger deposits; for example, a $10,000 deposit in a 4% APY MMA would result in a total balance of $10,408.08 after one year, earning $408.08 in interest [5]