The highest money market rate as of today is 4.89%, with a national average rate of 0.53% according to Curinos.
Money market accounts are interest-bearing deposit accounts insured by the FDIC and NCUA, offering higher interest rates compared to regular savings accounts.
To open a money market account, compare rates, minimum requirements, fees, and features. Submit an application online or at a bank branch with personal information and make the minimum deposit.
Money market accounts provide a balance between savings and checking accounts, offering convenient fund accessibility with higher interest rates.