Find out which banks are offering the best MMA rates right now. The Federal Reserve has cut the federal funds rate three times in 2024 and recently made its second rate cut in 2025. Deposit interest rates, including money market account rates, have been falling.
Although the national average rate for MMAs is just 0.59%, top high-yield money market accounts offer well over 4% APY, more than six times the national average. It’s crucial to compare MMA rates to ensure you earn as much as possible on your balance.
Online banks and credit unions offer competitive rates on money market accounts. Online banks, operating exclusively online, can provide high deposit rates and low fees due to lower overhead costs. Credit unions, as not-for-profit cooperatives, also offer competitive rates and fewer fees.
Money market accounts are a great option for short-term savings goals, offering higher interest rates than regular savings accounts. They are considered low-risk and FDIC-insured up to $250,000 per depositor, per institution. Keep in mind that many MMAs require a minimum balance to earn the highest rate and may limit monthly transactions.
When considering a money market account, make sure you can maintain the minimum balance to avoid fees and that you want easy access to your funds for emergencies or near-term expenses. Shop around for accounts offering rates well above the national average of 0.59%.
Investing in market securities like stocks, mutual funds, or ETFs can provide strong returns, with the stock market averaging about 10% per year. Consider speaking with a financial advisor or using a robo-advisor for automated portfolio management to help achieve your financial goals and grow your wealth.
Read more at Yahoo Finance: Best money market account rates today, November 28, 2025 (up to 4.26% APY return)