High money market account rates available, with top accounts offering 4% APY, act now to benefit

From Yahoo Finance: 2025-06-22 06:00:00

The Federal Reserve cut its target rate three times in 2024, causing deposit rates, including money market account rates, to fall. Compare rates to maximize earnings. National average money market account rate is 0.62%, but some top accounts offer 4% APY. Act now to benefit from high rates.

Interest earned in a money market account depends on the annual percentage rate (APY) and compound interest frequency. With a $1,000 deposit at 0.64% interest, you earn $6.42 in a year. At 4% APY, your balance grows to $1,040.81, earning $40.81 in interest. Deposit more to earn more – $10,000 would earn $408.08 in a year.

Read more: Best money market account rates today, June 22, 2025 (best account provides 4.41% APY)