From Yahoo Finance: 2025-06-08 06:00:00

Interest rates on money market accounts have decreased due to three Federal Reserve rate cuts in 2024. It’s crucial to compare rates to maximize earnings. The national average money market account rate is 0.62%, but some accounts offer 4% APY or more. Opening an account now could take advantage of these high rates.

The annual percentage rate (APY) determines the interest earned on a money market account. With an average rate of 0.64% and $1,000 deposit, you’d earn $6.42 in interest after one year. Choosing a 4% APY account would yield $40.81 in interest with the same deposit. Depositing more money increases potential earnings significantly.

Comparing rates and choosing a high-yield money market account can lead to substantial earnings. With a 4% APY and a $10,000 deposit, you could earn $408.08 in interest after one year. It’s important to act now to secure these attractive rates.



Read more at Yahoo Finance: Best money market account rates today, June 8, 2025 (best account provides 4.41% APY)