The Federal Reserve has cut its target rate three times in 2025, causing deposit rates, including money market account rates, to steadily decline. The national average money market account rate is currently 0.58% according to the FDIC. Some top accounts are offering rates of 4% APY or higher, so consider opening an account now to take advantage. Interest earned from a money market account depends on the annual percentage rate (APY) and how often interest compounds. For example, with a $1,000 deposit at 0.58% interest, your balance would grow to $1,005.82 after one year. However, with a 4% APY account, your balance would grow to $1,040.81, meaning you’d earn $40.81 in interest. The more you deposit, the more you earn – for example, with $10,000 in a 4% APY account, your balance after one year would be $10,408.08, with $408.08 in interest earned.

Read more at Yahoo Finance: Best money market account rates today, January 11, 2026 (best account provides 4.1% APY)