<ul><li>The current average money market rate is 0.53%, with the highest rate being 4.89% as per Curinos.</li><li>Money market accounts (MMAs) are interest-bearing deposit accounts that can be opened at banks or credit unions, insured up to $250,000 per depositor by FDIC at banks or NCUA at credit unions.</li><li>MMAs offer higher interest rates than typical savings accounts but may require higher minimum deposits and balances. They allow flexibility in depositing, withdrawing funds, and some may have transaction limitations per statement period.</li><li>Before opening an MMA, it's advisable to compare options from different institutions, considering factors like minimum balance requirements, fees, withdrawal limits, and APYs. Application processes typically require personal information and initial deposits.</li></ul>

Money Market Interest Rates Today: June 2, 2025 – Rates At 4.89%

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