<ul><li>The current average money market rate is 0.53%, with the highest rate available up to 4.89% as per Curinos.</li><li>Money market accounts (MMAs) function as interest-bearing deposit accounts offered by banks and credit unions, allowing customers to deposit money, earn interest, and withdraw funds as needed, with limitations on transactions per statement period.</li><li>MMAs generally offer higher interest rates compared to traditional savings accounts, along with features like debit cards and check-writing capabilities for easy access to cash. They often have higher deposit and balance requirements.</li><li>MMAs at banks are insured by the FDIC, while those at credit unions are insured by the NCUA, each providing coverage of up to $250,000 per account type in case of bank failure. Prior to opening a money market account, it's advisable to explore options at different institutions, comparing rates, minimum balance requirements, fees, and withdrawal limits.</li></ul>

Money Market Interest Rates Today: June 4, 2025 – Earn Up To 4.89%

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