Money market account rates today, February 15, 2025 (best account provides 4.75% APY)

Recently, the Federal Reserve began reducing the federal interest rate. As a result, deposit interest rates, including money market account rates, have begun to fall. It is more important than ever to compare MMA rates and make sure you earn as much as possible in your balance sheet.

Is National Medium Money Market Account Rate According to FDIC, it is 0.64%. It may not seem very much, but consider that it was only 0.07% three years ago. Thus, according to historical standards, the money market account rates are still quite large.

Even so, some of the best accounts currently offer more than 4% APY. Because these rates may not be much longer, consider opening a money market account now that uses today’s high pace.

Here’s some look at the best MMA pace today.

See our options for today’s 10 Best Money Accounts >>

In addition, the table below shows the interest rates on the best savings and monetary calculation of our approved partners today.

You can earn the number of interest from the human market account Annual interest rate (APY). This is a criterion for your total earnings a year later, taking into account the basic interest rate and how often interest rates (money market account interests usually gives compounds every day).

Say that you put $ 10,000 at MMA by an average interest rate at a rate of 0.64% with daily complexity. At the end of one year, your balance will increase $ 10,064.20 – your initial $ 10,000 deposit plus $ 64.20.

Now let’s say that you choose a highly profitable money market account that offers 4% APY instead. In this case, your balance will increase to 10,408.08 dollars in the same period, which includes $ 408.08.

Compared to a relatively traditional savings account, the money market account can come with more restrictions. For example, money market accounts often require a higher minimum balance to earn the best interest rate and (or) fees. Some MMAM can also limit the number of recalls you can make a month (usually six).

In general, there are no banks that offer 7% interest rates for money market accounts or any other type of deposit. Thus, you may be able to find local banks and credit unions, which run limited time advertising rates on certain accounts that can be as high as 7%. However, advertising rates often apply to a limited balance at this level.

Read more: There are any more savings accounts of 7%.