Find out how much you could earn with today’s money market account rates. The Federal Reserve cut its target rate three times in 2025. So deposit rates — including money market account (MMA) rates — have been steadily declining. It’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Overview of money market account rates today The national average money market account rate stands at 0.58%, according to the FDIC. Even so, some of the top accounts are c ...

Find out how much you could earn with today’s money market account rates. Deposit interest rates (including money market account rates) have been falling over the past two years. That's why it’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Overview of money market account rates today The national average money market account rate stands at 0.58%, according to the FDIC. This might not seem like much, but consider that four years ago, it was just 0. ...

Core Insights - The article discusses the current state of money market accounts (MMAs) and highlights the importance of earning competitive rates on savings as interest rates decline following recent Federal Reserve rate cuts [1][5]. Group 1: Current MMA Rates - The national average interest rate for money market accounts is 0.58%, but top rates can exceed 4% APY, comparable to high-yield savings accounts [3][8]. - Some banks are offering MMA rates above 4.50%, although rates above 7% are not available in the current market [8][9]. Group 2: Federal Reserve Rate Cuts - The Federal Reserve maintained a target range for the federal funds rate of 5.25%–5.50% until September 2024, when it cut the rate by 50 basis points, followed by additional cuts in November and December [4]. - As of 2025, the federal funds rate stands at 3.50%–3.75%, leading to a decline in deposit account rates [5]. Group 3: Considerations for MMA - Money market accounts provide liquidity and easy access to funds, making them suitable for savers with short-term goals or those building an emergency fund [7]. - These accounts are appealing for conservative savers due to FDIC insurance, but long-term savings goals may require riskier investments for higher returns [7].

Find out how much you could earn with today’s money market account rates. The Federal Reserve cut its target rate three times in 2024 and recently cut rates for the third time in 2025. So deposit rates — including money market account (MMA) rates — have started falling. It’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Overview of money market account rates today The national average money market account rate stands at 0.58%, according to the FDIC ...

Find out how much you could earn with today’s money market account rates. Deposit interest rates (including money market account rates) have been falling over the past year. That's why it’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Overview of money market account rates today The national average money market account rate stands at 0.59%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.07%. ...

Core Insights - The Federal Reserve has cut the federal funds rate three times in 2024 and recently made a second cut in 2025, leading to a decline in deposit interest rates, including money market account (MMA) rates [1] - The national average rate for MMAs is currently 0.59%, while top high-yield accounts offer rates exceeding 4% APY, significantly higher than the national average [2][9] Group 1: Money Market Account Rates - The importance of comparing MMA rates is emphasized, as interest rates vary widely among banks, particularly online banks and credit unions, which offer competitive rates [3][4] - Online banks have lower overhead costs due to their web-based operations, allowing them to provide higher deposit rates and lower fees [4] - Credit unions, as not-for-profit entities, also offer competitive rates and fewer fees, although membership requirements may apply [5] Group 2: Features and Considerations of Money Market Accounts - Money market accounts are suitable for short-term savings goals, offering higher interest rates than regular savings accounts and easier access to funds compared to CDs [5][7] - MMAs are considered low-risk and are FDIC-insured up to $250,000 per depositor, per institution, making them safer than money market funds [6] - Many MMAs require a minimum balance to earn the highest advertised rates, and failure to maintain this balance may result in fees or lower rates [6] Group 3: Access and Usage of Funds - While MMAs allow for general access to funds, they may limit the number of transactions per month, which is a consideration for those needing frequent access [7] - MMAs are recommended for individuals looking to earn more interest than a regular savings account without locking funds in a CD, provided they can maintain the minimum balance [7][8]

Core Insights - The Federal Reserve has cut the federal funds rate three times in 2024 and recently made a second cut in 2025, leading to a decline in deposit interest rates, including money market account (MMA) rates [1] - The national average rate for MMAs is currently 0.59%, while top high-yield accounts offer rates exceeding 4% APY, significantly higher than the national average [2][9] - Online banks and credit unions are highlighted as the best sources for competitive MMA rates due to their lower overhead costs and not-for-profit structures, respectively [4][5] Group 1: Money Market Account Rates - The national average MMA rate is 0.59%, but high-yield accounts can offer rates over 4% APY, which is more than six times the national average [2] - Online banks typically provide the best MMA rates due to reduced operational costs, allowing them to offer higher deposit rates [4] - Credit unions also offer competitive rates, often ranging from 3% to 4% APY, but may have membership requirements [5] Group 2: Account Features and Considerations - Money market accounts are considered low-risk and are FDIC-insured up to $250,000 per depositor, per institution, making them safer than money market funds [6] - Many MMAs require a minimum balance to earn the highest advertised rates, and failing to maintain this balance may result in fees or lower rates [6] - While MMAs allow for easier access to funds compared to CDs, they may limit the number of transactions per month, which is a consideration for those needing frequent access [7]

Core Insights - Money market accounts (MMAs) are highlighted as a favorable option for storing cash due to their relatively high interest rates, liquidity, and flexibility [1][2] - Despite a recent decline in rates, some MMAs still offer interest rates exceeding 4% APY, making them competitive for savers [3][12] Interest Rate Trends - Historical fluctuations in MMA rates are largely influenced by changes in the Federal Reserve's target interest rate [4] - Following the 2008 financial crisis, MMA rates dropped to between 0.10% and 0.50% due to the Fed's near-zero federal funds rate [5] - The COVID-19 pandemic caused another decline in MMA rates as the Fed cut rates to combat economic fallout [6] - Starting in 2022, aggressive interest rate hikes by the Fed led to historically high MMA rates, with many accounts offering 4% or higher by late 2023 [7] - As of 2025, MMA rates remain elevated compared to historical standards but are beginning to decline following recent Fed rate cuts [8] Choosing a Money Market Account - When selecting an MMA, factors beyond interest rates, such as minimum balance requirements, fees, and withdrawal limits, are crucial for evaluating overall value [9][10] - Some MMAs require a minimum balance of $5,000 or more to earn the highest rates, while others may charge monthly maintenance fees [10] - There are competitive MMAs available without balance requirements or fees, emphasizing the importance of comparison shopping [10] - Ensuring that the chosen account is insured by the FDIC or NCUA is essential, as this guarantees deposits up to $250,000 per institution [11] Current Market Conditions - The national average interest rate for MMAs is currently 0.59%, while the best rates are around 4% to 4.50% APY [12] - There are no MMAs currently offering 5% APY, but some high-yield savings accounts from online banks do [14]

Core Insights - The national average money market account (MMA) rate is currently at 0.59%, a significant increase from 0.07% three years ago, indicating that MMA rates are historically high despite recent declines [2][5] - Some top accounts are offering rates over 4% APY, suggesting a potential opportunity for consumers to maximize earnings by opening a money market account now [2][5] Summary by Sections Money Market Account Rates Overview - The national average MMA rate is 0.59% as reported by the FDIC, which is a notable rise from 0.07% three years ago, reflecting a historical high [2] - Certain high-yield accounts are currently providing rates exceeding 4% APY, prompting a recommendation to consider opening an account to benefit from these rates [2] Earnings Potential - A $10,000 deposit in an MMA at the average rate of 0.59% with daily compounding would yield a total of $10,059.17 after one year, which includes $59.17 in interest [5] - Conversely, a high-yield MMA offering 4% APY would grow the same $10,000 to $10,408.08, resulting in $408.08 in interest over the same period [5] Frequently Asked Questions - Money market accounts may have more restrictions compared to traditional savings accounts, such as higher minimum balance requirements and limits on monthly withdrawals [6] - There are currently no banks offering a 7% interest rate on money market accounts, although some local banks and credit unions may have limited-time promotional rates that could reach this level [7]

Core Insights - The national average money market account (MMA) rate is currently at 0.59%, a significant increase from 0.07% three years ago, indicating that MMA rates are historically high despite recent declines [2][4] - Some top accounts are offering rates over 4% APY, suggesting that consumers should consider opening a money market account to capitalize on these high rates before they potentially decrease [2][5] Summary by Sections Money Market Account Rates Overview - The national average MMA rate is 0.59% as reported by the FDIC, which is a notable rise from 0.07% three years ago, reflecting a historical high [2] - Certain high-yield accounts are currently offering rates exceeding 4% APY, prompting a recommendation for consumers to open accounts now to benefit from these rates [2] Interest Earnings from Money Market Accounts - The interest earned from a money market account is contingent on the annual percentage rate (APY) and the frequency of interest compounding, which is typically daily [4] - For a $10,000 deposit at the average rate of 0.59% with daily compounding, the balance after one year would be $10,059.17, yielding $59.17 in interest [5] - Conversely, a high-yield MMA offering 4% APY would grow the same deposit to $10,408.08, resulting in $408.08 in interest over the same period [5] Frequently Asked Questions - Money market accounts may have more restrictions compared to traditional savings accounts, such as higher minimum balance requirements and limits on monthly withdrawals [6] - There are currently no banks offering a 7% interest rate on money market accounts, although some local banks and credit unions may have limited-time promotional rates that could reach this level [7]