If you are looking for relatively high interest rates as well as liquidity and flexibility, a money market account (MMA) may be a great place to store cash.
Unlike traditional savings accounts, MMAs generally offer better returns and can also provide check write privileges and debit card access. This makes these accounts perfect for holding long-term savings you want to grow over time, but can still be accessed on certain purchases or bills.
Although interest rates have been falling over the past few months, money market accounts that pay more than 4% APY can still be found.
Here are some of the best money market account prices today:
Interested in getting the best interest rate in your savings balance? Here are some of the best savings and money market account rates available today by our proven partners.
Money market account interest rates have fluctuated greatly in recent years, mainly due to changes in the Fed’s target interest rate.
For example, after the 2008 financial crisis, interest rates remained extremely low to stimulate the economy. The Fed cut federal funding rates to near zero, which led to very low MMA rates. During this period, money market account rates are typically around 0.10% to 0.50%, and many accounts offer the low end of the range.
Ultimately, as the economy improves, the Federal Reserve begins to gradually raise interest rates. This leads to higher production of savings products including MMA. However, in 2020, the 19020 pandemic led to a brief but dramatic recession, and the Fed once again lowered its benchmark rate to near zero to hit economic impacts. This leads to a sharp decline in MMA rates.
But starting in 2022, the Fed has begun a series of aggressive interest rate hikes to combat inflation. This has led to historically higher deposit rates. By the end of 2023, money market account interest rates have been greatly increased, with many accounts offering 4.00% or higher. However, the Fed finally began to lower the rate by the end of 2024.
As of 2025, by historical standards, the MMA rate remains high, although they have begun a decline trajectory at the Fed's recent decline rate. Today, online banks and credit unions tend to offer the highest interest rates.
When comparing money market accounts, it is important to go beyond interest rates. Other factors such as minimum balance requirements, fees and withdrawal restrictions may affect the total value you get from your account.
For example, money market accounts require a large amount of minimum balance to get the highest advertising rates, which is common – in some cases up to $5,000 or more. Other accounts may charge monthly maintenance fees that may drain your interest income.
However, there are several available MMAs that offer competitive interest rates without any balance requirements, fees or other restrictions. This is why it is important to shop around and compare accounts before making a decision.
Additionally, make sure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees up to $250,000 per deposit per institution per depositor. Most money market accounts are federally insured, but in rare cases where financial awareness fails, it is important to double check.
Read more: Money Market Account vs. High Yield Savings Account: Which one is best for you?
The average interest rate for money market accounts nationwide is only 0.64%, the FDIC said. However, the best money market account interest rates typically pay about 4% to 4.50% of APY, similar to those for high-yield savings accounts.
The amount you will earn $50,000 in your money market account depends on the annual percentage (APY) and the period when you left your money in your account. For example, if you deposited a $50,000 money market account into 4.5% of the APY and left it in your account for one year, you will receive $2,303 in interest.
There is currently no money market account to pay 5% APY. However, some high-yield savings accounts at online banks do. You can also contact your local bank or credit union to find out if they offer a 5% APY account that suits your needs.
