Money market accounts are a popular choice for investors looking to earn a higher interest rate on their savings compared to traditional savings accounts. These accounts offer a combination of high interest rates, flexibility, and liquidity, making them a great option for short-term savings goals.
You could earn nearly 5% on a money market account right now. See what today's average and top rates are for money market accounts. The current average money market rate is 0.59%, while the highest rate is up to 5.12%. Here are today's money market account rates:
The best high-yield savings accounts in our banking review can boost your short-term savings with rates of up to 5.25% annual percentage yield (APY). Steps to open a money market account include choosing a money market account: Before you open a money market account, you'll want to compare banks and their offerings to find the best fit for your financial goals.
The average money market account earns 0.66% Annual Percentage Yield (APY), according to the FDIC. The actual interest rate on a money market account can vary depending on the financial institution and the current market conditions. It's important to shop around and compare rates to ensure you're getting the best deal.
The best money market accounts offer greater account accessibility, low fees, and high competitive APYs. Find out Newsweek's top picks in our comprehensive review of the best money market accounts on the market. Archax, the first FCA regulated digital asset exchange, broker, and custodian, announced that it is expanding the range of fund shares it offers through its platform.
Best money market rates of March 2024 include Ally Bank® offering up to 4.25% APY, CFG Bank with up to 5.25% APY, and EverBank® (formerly TIAA Bank®) with competitive rates. Here are some of the best money market rates for March: Brilliant Bank offers 5.35% with a $1,000 minimum to earn interest, and BluPeak Credit Union offers 5.33% APY.
