Money market accounts (MMAs) offer high interest rates, liquidity, and flexibility compared to traditional savings accounts. Some provide check-writing privileges and debit card access. Rates can fluctuate due to changes in the Federal Reserve’s federal funds rate. In 2024, rates rose to 4.00% or higher, but have since trended downward. Online banks and credit unions usually offer the highest rates. It’s important to consider factors beyond interest rates, such as minimum balance requirements and fees, when choosing an MMA. Ensure your account is insured by the FDIC or NCUA for up to $250,000 per depositor.

Read more at Yahoo Finance: Best money market account rates today, January 27, 2026 (Earn up to 4.1% APY)