<ul><li>The current average money market rate is 0.53%, while the highest rate is up to 4.89%, according to Curinos.</li><li>Money market accounts function like interest-bearing deposit accounts where you deposit money, earn interest, and can withdraw funds, usually limited to six transactions per statement period.</li><li>These accounts typically offer higher interest rates compared to traditional savings accounts and may provide debit cards, check-writing capabilities, or both for easy cash access.</li><li>Money market accounts at banks are FDIC-insured, while those at credit unions are NCUA-insured, with both providing coverage of up to $250,000 per account type in case of bank failure.</li></ul>

Today’s Top Money Market Account Rates For May 1, 2025 – Rates Hit 4.89%

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