<ul><li>The current average money market rate is 0.53%, while the highest rate is up to 4.89%.</li><li>Money market accounts are interest-bearing deposit accounts insured by FDIC for banks and NCUA for credit unions up to $250,000 per depositor.</li><li>Money market accounts offer higher interest rates compared to regular savings accounts, but require higher minimum deposits and balances.</li><li>To open a money market account, compare rates, meet minimum requirements, consider fees and features, submit an application online or at a bank branch, provide necessary information, and make the first deposit.</li></ul>

Today’s Top Money Market Account Rates For May 12, 2025 – Rates Hit 4.89%

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