Best money market account rates today, January 27, 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 Overview - 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] - As of late 2023, many MMAs are offering rates of 4.00% or higher, with some accounts potentially exceeding 5% APY throughout 2024 [7][13] Historical Context - MMA rates have fluctuated significantly due to changes in the Federal Reserve's target interest rate, with rates dropping to as low as 0.10% to 0.50% during the 2008 financial crisis and again during the COVID-19 pandemic [5][6] - Following aggressive interest rate hikes by the Fed starting in 2022 to combat inflation, MMA rates reached historically high levels [7] Factors to Consider - When selecting an MMA, it is crucial to consider factors beyond just the interest rate, such as minimum balance requirements, fees, and withdrawal limits, which can affect overall value [9][10] - Some MMAs may require a minimum balance of $5,000 or more to earn the highest advertised rates, and monthly maintenance fees can reduce interest earnings [10] Safety and Insurance - It is important to ensure that the chosen MMA is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which protects deposits up to $250,000 per institution, per depositor [11]