Money market accounts (MMAs) are a great option for storing cash with high interest rates, liquidity, and flexibility. National average MMA interest rate is 0.39%, but the best rates can exceed 4% APY. Rates fluctuate due to Federal Reserve changes, with 2022-2024 seeing historically high rates above 4% and 5% APY.

It’s important to consider factors beyond interest rates when choosing an MMA, such as minimum balance requirements and fees. Some accounts have no balance requirements or fees, but ensure FDIC or NCUA insurance for deposits up to $250,000. Rates are currently high, with top APY at 4.1%.

Earnings in a money market account depend on the APY and compounding interest. For example, depositing $10,000 with 4% APY and monthly compounding interest could earn $407.44 in one year, totaling $10,407.44. MMAs are generally safe and flexible, but may have downsides like high minimum balances and variable rates.

Read more at Yahoo Finance: Best money market account rates today, January 13, 2026 (Earn up to 4.1% APY)