Banks are cutting deposit interest rates, including money market accounts, due to the Federal Reserve’s recent rate cuts. The national average rate for MMAs is 0.59%, but top high-yield accounts offer over 4% APY. Online banks and credit unions are competitive options for high MMA rates.

Money market accounts offer higher interest rates than regular savings accounts and easier access to funds than CDs. They are low-risk and FDIC-insured up to $250,000 per depositor, per institution. Some accounts require a minimum balance for the best rates, and transaction limits may apply.

Consider a money market account if you want to earn more interest than a savings account without locking up your money. Maintain the minimum balance, keep funds accessible for emergencies, and compare rates before opening an account. For higher returns, consider investing in market securities like stocks, mutual funds, or ETFs.

Read more at Yahoo Finance: Best money market account rates today, November 21, 2025 (up to 4.26% APY return)