{"id":455,"date":"2025-03-20T09:04:22","date_gmt":"2025-03-20T10:04:22","guid":{"rendered":"http:\/\/www.pacific-hydro.com\/?p=455"},"modified":"2025-03-21T22:50:23","modified_gmt":"2025-03-21T22:50:23","slug":"todays-top-money-market-account-rates-for-march-20-2025-rates-hit-4-89","status":"publish","type":"post","link":"http:\/\/www.pacific-hydro.com\/index.php\/2025\/03\/20\/todays-top-money-market-account-rates-for-march-20-2025-rates-hit-4-89\/","title":{"rendered":"Today\u2019s Top Money Market Account Rates For March 20, 2025 \u2013 Rates Hit 4.89%"},"content":{"rendered":"

Current Money Market Rates<\/strong><\/h2>\n

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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Average Money Market Rates<\/strong><\/h2>\n

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How Does a Money Market Account Work?<\/strong><\/h2>\n

Money market account<\/a><\/span> 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><\/span> to earn these.<\/p>\n

How To Open a Money Market Account<\/strong><\/h2>\n

Before opening a money market account<\/a><\/span>, check out different options at various banks or credit unions. In addition to shopping around for the highest rates, you’ll want to compare minimum balance and deposit requirements, monthly fees and withdrawal limits. Look for an account that offers competitive rates you can easily qualify for.<\/p>\n

You can typically submit an application for a money market account online or in person at a branch. The application will ask you to provide basic information, including your name, address, Social Security number, employment status and income. You will probably need to present a government-issued ID as well. After being approved, you can make your first deposit.<\/p>\n

Money Market Account vs. Savings Account<\/strong><\/h2>\n

Money market accounts act like a hybrid between savings accounts<\/a><\/span> and a checking account.<\/p>\n

Both MMAs and savings accounts:<\/p>\n