Money market account rates have been on the decline since the Federal Reserve cut its target rate three times in 2025. With deposit rates decreasing, it’s crucial to compare MMA rates to ensure you are maximizing your earnings. The national average money market account rate currently stands at 0.56%, according to the FDIC.
Despite the overall decrease in rates, some top accounts are offering rates of 4% APY and higher. It is advisable to take advantage of these high rates by opening a money market account sooner rather than later, as they may not be available for long.
When considering a money market account, the amount of interest you can earn depends on the annual percentage rate (APY). This is a measure of your total earnings after one year, taking into account the base interest rate and how often interest compounds (typically daily for money market accounts).
For example, if you were to deposit $1,000 in an MMA with an average interest rate of 0.56% and daily compounding, your balance would grow to $1,005.62 after one year, including $5.62 in interest. However, opting for a high-yield money market account with a 4% APY would result in a balance of $1,040.81 after one year, with $40.81 in interest.
The more you deposit in a money market account, the more you stand to earn. For instance, depositing $10,000 in a money market account with a 4% APY would yield a total balance of $10,408.08 after one year, earning you $408.08 in interest.
To help you find the best savings and money market account rates available today, we have compiled a list of top accounts from our verified partners in the table below. Take advantage of these high rates while they last and start earning more on your balance today.
