<ul><li>Average money market rate is currently 0.53%, with the best rate being 4.89% according to Curinos.</li><li>Money market accounts function like interest-bearing deposit accounts where you can deposit money and earn interest. Withdrawals are allowed, but there may be limits on transactions.</li><li>MMAs usually offer higher interest rates compared to traditional savings accounts and may provide features like debit cards and check-writing capabilities for easier access to funds.</li><li>MMAs at banks are insured by FDIC, while those at credit unions are insured by NCUA, offering depositors 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 28, 2025 – Rates Hit 4.89%

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