<ul><li>The highest money market rate as of today is 4.89%, significantly higher than the national average rate of 0.53%.</li><li>Money market accounts function as interest-bearing deposit accounts similar to savings accounts, providing growth in interest over time.</li><li>These accounts are secured by the Federal Deposit Insurance Corp. (FDIC) for banks and the National Credit Union Administration (NCUA) for credit unions up to $250,000 per depositor.</li><li>When opening a money market account, consider the best yields on the market, minimum requirements, account fees, withdrawal limits, and other features to find the most suitable option.</li></ul>

Today’s Top Money Market Account Rates For May 5, 2025 – Rates Hit 4.89%

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