June 16, 2025 Today’s Best Money Market Account Fees (May Up to 4.41% APY)

Find out which banks offer the highest rates. Money Market Account (MMA) is the perfect place to store cash if you are looking for a relatively high interest rate. Fluidity And flexibility.

Unlike traditional savings accounts, MMAs usually offer better returns. They may also provide check writing privileges. Debit Card access. This makes these accounts ideal for keeping the long-term savings you want to grow over time, but you can still access them if you need them for a specific purchase or invoice.

Prices have been lowered over the past few months, but you can still find them Money market accounts paying APYs of 4% or more.

Check out some of today’s best money market account rates.

Are you interested in getting the highest possible interest rate on your savings balance? This looks at some of the best savings and money market account rates available today from our verified partners.

Money market account fees have fluctuated significantly in recent years, mainly due to changes in the Federal Reserve target interest rates.

For example, the 2008 financial crisis led to interest rates being kept very low to stimulate the economy. The Fed cut Federal Fund Rate It’s almost zero and the MMA rate is very low. During this time, money market account rates are usually around 0.10% to 0.50%, with many accounts being offered at the bottom of the range.

Ultimately, the Fed began gradually increasing interest rates as the economy improved. This has resulted in higher yields for savings products, including MMA. However, in 2020, the Covid-19 pandemic led to a short but sharp recession, and the Fed once again reduced its benchmark rate to near zero, fighting economic fallout. This caused a sharp drop in the MMA rate.

However, starting in 2022, the Fed has embarked on a series of aggressive interest rate hikes to combat inflation. This has resulted in a historically high deposit rate across the board. By the second half of 2023, money market account rates had risen significantly, with many accounts offering more than 4%. However, the Fed finally began cutting rates in the second half of 2024.

As of 2025, MMA rates remained high by historical standards, but have started a downward trajectory following the Fed’s latest rate cuts. Today, online banks and credit unions tend to offer the best rates.

When comparing money market accounts, it is important to look beyond interest rates alone. Other factors such as minimum balance requirements, fees, and withdrawal restrictions can affect the total amount you get from your account.

For example, it is common for money market accounts to require large sizes. Minimum balance To get the best advertised fees – in some cases over $5,000. Other accounts may be billed Monthly maintenance fee It can eat up your profits.

However, there are several MMAs available that offer competitive rates without balance requirements, fees or other restrictions. Therefore, it is important to purchase and compare accounts before making a decision.

Furthermore, the selected account is Federal Deposit Insurance Corporation (fdic) or National Credit Union Bureau (NCUA). This guarantees deposits of up to $250,000 per institution per depositor. Most money market accounts are covered by federal government insurance, but it is important to double-check in rare cases where financial guarantees fail.

read more: Money Market Account vs. High Yield Savings Account: Which is best?

According to FDIC, the national average interest rate for money market accounts is just 0.64%. However, the best money market account rates often pay APYs between around 4% and 4.50%. High-yield savings account.

The amount you make in $50,000 on a Money Market account depends on your annual rate (APY) and the amount of time you leave it in your account. For example, if you pay a 4.5% APY and deposit $50,000 into a money market account you left in your account for a year, you will earn $2,303 in interest.

Currently there are no money market accounts that pay 5% APY. However, this is the case with high-yield savings accounts from online banks. You can also check with your local bank or credit union to see if they provide a 5% APY account that suits your needs.