The highest money market rate as of today is 5.00%, compared to a national average rate of 0.56%.
Money market accounts (MMAs) are interest-bearing deposit accounts offered by banks and credit unions.
MMAs typically offer higher interest rates than other deposit accounts and provide convenient access to cash through debit cards and check-writing capabilities.
Before opening a money market account, it is important to compare rates, minimum balance requirements, monthly fees, and withdrawal limits.