Find out which banks offer the best rates. Money market accounts (MMA) can be a great place to store your cash if you’re looking for a relatively high interest rate along with liquidity and flexibility

Unlike traditional savings accounts, MMAs typically offer better returns and may also offer check-writing privileges and debit card access This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills.

Although rates have been dropping over the past few months, it’s still possible to find money market accounts that pay more than 4% APY.

Here are some of the best money market account rates today:

Interested in earning the best possible interest rate on your savings balance? Here’s a look at some of the best money market and savings account rates available today from our verified partners.

Rates on money market accounts have fluctuated significantly in recent years, largely due to changes in the Federal Reserve’s target interest rate.

In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed cut the federal funds rate close to zero, resulting in very low MMA rates. During that time, money market account rates were typically between 0.10% and 0.50%, with many accounts offering rates at the lower end of that range.

Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher returns on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed cut its benchmark rate back to near zero to combat the economic downturn. This led to a sharp decline in MMA rates.

But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By the end of 2023, rates on money market accounts had risen substantially, with many accounts offering 4% or more. However, the Fed finally started cutting rates in late 2024 and continues to cut rates throughout 2025.

As of 2026, MMA rates remain elevated by historical standards, although they have begun a downward trajectory following the Fed’s most recent rate cuts. Today, online banks and credit unions usually offer the highest rates.

When comparing money market accounts, it’s important to look beyond the interest rate. Other factors, such as minimum balance requirements, fees and withdrawal limits, can affect the total value you get from your account.

For example, it is common for money market accounts to require a large minimum balance to get the highest advertised rate, up to $5,000 or more in some cases. Other accounts may charge monthly maintenance fees which may affect your interest earnings.

However, there are several MMAs available that offer competitive rates without any balance requirements, fees or other restrictions. That’s why it’s important to shop around and compare accounts before making a decision.

Also, make sure the account you choose is secured by the Federal Deposit Insurance Corporation (FDIC) or the National Administration of Credit Cooperatives (NCUA), which guarantees deposits of up to $250,000 per institution and depositor. Most money market accounts are federally insured, but it’s important to double check in the rare event that the financial institution fails.

Read more: Money Market Account vs High Yield Savings Account: Which is Best for You?

The national average interest rate on money market accounts is just 0.56%, according to the FDIC. However, the best rates on money market accounts typically pay around 4% APY, similar to the rates offered high yield savings accounts.

How much you’ll earn on $50,000 in a money market account depends on the annual percentage rate (APY) and how long you leave the money in the account. For example, if you deposit $50,000 into a money market account that pays 4.5% APY and leave it in your account for a year, you’ll earn $2,303 in interest.

There is currently no money market account that pays 5% APY. However, some high-yield savings accounts from online banks can pay more than 4%. You can also check with your local bank or credit union to find out if they offer a 5% APY account that fits your needs.