February 10, 2025 (earn up to 4.75% APY)

Money Market Accounts (MMAS) can be a great place to keep your cash if you are looking for relatively high interest rates liquidity and flexibility.

Unlike traditional savings accounts, MMAS usually offers better income, and they can also provide check privileges. Debit card Login: This makes these accounts ideal for storing long-term savings you want to grow over time but still need to access certain purchases or bills.

Although the prices fall in the last few months, it is still possible to find money market accounts that pay more than 4% APY.

Here’s some look at today’s best money market calculations.

Interested in earning a possible maximum interest rate on your savings balance. Here are some of our approved partners to the best savings and money market account provisions today.

Money market account rates have significantly fluctuated in recent years, mainly due to changes in the target interest rate on the federal reserve.

As a result of the 2008 financial crisis, for example, interest rates were stored to promote the economy. Fed cut off The interest rate of the federal funds Nearest zero, which resulted in very low prices for MMA. During this time, the money market account rates usually accounted for 0.10% and made up 0.50%, and multiple accounts giving interest rates at the lower end of that range.

After all, Fed gradually began to increase interest rates, as the economy improved. This resulted in a higher yield of savings, including MMAS. However, in 2020, the 19th Soviet epidemic led to a brief, but sharp decline, and Fed once again cut its benchmark to combat our zero. This resulted in a sharp drop in MMA interest rates.

But since 2022, Fed began increasing a number of aggressive interest rates for the fight against inflation. This led to all the traditional high levels of the board. At the end of the 2023 money market account rates rose significantly, many accounts offered 4.00% or higher. However, Fed finally began to cut the pace at the end of 2024.

As of 2025, MMA’s rates remain with historical standards, although they have started a decline trajectory after the lowest reductions in Fed. Today, online banks and credit unions tend to offer the highest rates.

When comparing the money market accounts, it is important to just look at the interest rate. Other factors such as minimum balance requirements, fees and withdrawal limits may affect the total value you receive.

For example, in general for money market accounts large Minimum balance To earn the highest advertising rate, in some cases, $ 5,000 or more. Other accounts can be charged Monthly service fees that can eat your interest in your interest.

However, there are several MMAMs that offer competitive rates without equilibrium requirements, duties or other restrictions. That’s why it’s important to install and compare accounts before making decisions.

Also, make sure that your chosen account is insured Federal Deposit Insurance Corporation (FDIC) or Department of Credit Credit Union (NCUA), which guarantees deposits to one institution of up to $ 250,000 for each depositor. Most of the money market accounts are Federal Insured, but it is important to double-click the financial provision to double.

Read more: Money Market account against high income savings account. What is the best for you?

According to FDIC, the national average interest rate on the money market accounts is only 0.64%. However, the best estimates of the money market often pay about 4% and 4.75% APY – similar to the recommended interest rates High Income Savings AccountsA number

The amount you will receive at $ 50,000 in a money market depends on the annual interest rate (APY) and the period you leave the money. For example, if you pay $ 50,000 at the expense of the money market, which pays 4.5% apy and left it for a year, you will earn $ 2,303 at the interest rate.

There are currently no money market accounts paying 5% APY. However, they do highly profitable savings from online banks. You can also check with your local bank or credit union to find out if they offer a 5% APY account that matches your needs.