As of today, the highest money market rate is 4.89%, compared to a national average rate of 0.54%, according to Curinos.<\/p>\n
Here are today’s money market account rates:<\/p>\n
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Money market account<\/a> are interest-bearing deposit accounts that work similarly to savings accounts. You deposit money whenever you have some to spare and it grows more interest the longer you leave it alone. These accounts are insured by the Federal Deposit Insurance Corp. (FDIC) for banks and the National Credit Union Administration (NCUA) for credit unions up to $250,000 per depositor. Money market accounts offer convenient fund accessibility, often including checks and debit cards, though you might be limited to six monthly transactions.<\/p>\n Compared to regular savings accounts, money market accounts usually offer higher interest rates. However, they tend to require higher minimum deposits and balances<\/a> to earn these.<\/p>\nHow To Open a Money Market Account<\/h2>\n