The Federal Reserve has cut rates twice in 2025, causing deposit rates to fall, including money market account rates. The national average money market account rate is 0.59% APY, but some top accounts offer 4% APY or higher. Consider opening an account now to take advantage of high rates.
Interest earned from a money market account depends on the annual percentage rate (APY) and compounding frequency. With daily compounding at a 0.59% rate, a $1,000 deposit would grow to $1,005.92 in one year. At a 4% APY, the balance would be $1,040.81, including $40.81 in interest.
Depositing more money in a money market account increases earnings. For example, a $10,000 deposit at 4% APY would yield a total balance of $10,408.08 after one year, earning $408.08 in interest. Compare rates to maximize earnings.
Read more at Yahoo Finance: Best money market account rates today, December 7, 2025 (best account provides 4.26% APY)