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Money Market Interest Rates Today: June 16, 2025 – Earn Up To 4.89%
- Money market interest rates today are reported to have an average rate of 0.53%, with the highest rate reaching up to 4.89%, as per Curinos.
- Money market accounts (MMA) are interest-bearing deposit accounts provided by banks and credit unions, allowing deposits and earning interest.
- Withdrawals from MMAs are flexible, but some institutions may limit transactions to six per statement period.
- MMAs generally offer higher interest rates compared to traditional savings accounts and may include features like debit cards and check-writing options for easy access to funds.
- Bank MMAs are insured by the FDIC, while credit union MMAs are insured by the NCUA, offering protection up to $250,000 per account type in case of bank failure.
- When opening a money market account, it's advisable to compare yields, ensure you meet minimum requirements, consider fees, withdrawal limits, and account features.
- To start an account, apply online or in person at a bank branch, provide personal details, a government-issued ID, and meet the minimum initial deposit requirement.
- Money market accounts operate like a hybrid of savings and checking accounts, combining features of both types of accounts.
- Similar to savings accounts, MMAs offer higher interest rates, while resembling checking accounts by facilitating access to funds through options like check writing and debit cards.
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