Discover out which banks are providing the highest charges. Money market accounts (MMAs) is usually a great spot to retailer your money for those who’re searching for a comparatively excessive rate of interest together with liquidity and suppleness.
In contrast to conventional financial savings accounts, MMAs usually provide higher returns, they usually might also present check-writing privileges and debit card entry. This makes these accounts excellent for holding long-term financial savings that you just wish to develop over time, however can nonetheless entry when wanted for sure purchases or payments.
The place are the most effective cash market rates of interest right this moment?
Although charges have been falling over the previous a number of months, it is nonetheless attainable to seek out cash market accounts that pay greater than 4% APY.
Here’s a take a look at a few of right this moment’s greatest cash market account charges, Monday, Might 11, 2026:
Historic cash market account charges
Cash market account charges have fluctuated considerably in recent times, largely resulting from modifications within the Federal Reserve’s goal rate of interest.
Within the wake of the 2008 monetary disaster, for instance, rates of interest have been stored extraordinarily low to stimulate the economic system. The Fed slashed the federal funds rate to close zero, which led to very low MMA charges. Throughout this time, cash market account charges have been usually round 0.10% to 0.50%, with many accounts providing charges on the decrease finish of that vary.
Finally, the Fed started elevating rates of interest progressively because the economic system improved. This led to increased yields on financial savings merchandise, together with MMAs. Nonetheless, in 2020, the COVID-19 pandemic led to a quick however sharp recession, and the Fed as soon as once more lower its benchmark fee to close zero to fight the financial fallout. This resulted in a pointy decline in MMA charges.
However beginning in 2022, the Fed launched into a collection of aggressive rate of interest hikes to fight inflation. This led to traditionally excessive deposit charges throughout the board. By late 2023, cash market account charges had risen considerably, with many accounts providing 4% or increased. Nonetheless, the Fed lastly started chopping charges in late 2024 and continued chopping charges in 2025.
Up to now in 2026, the Fed has left rates of interest unchanged. MMA charges stay excessive by historic requirements, although they’ve begun a downward trajectory following the Fed’s fee cuts in 2025. In the present day, on-line banks and credit score unions have a tendency to supply the best charges.
What to contemplate when selecting a cash market account
When evaluating cash market accounts, it is vital to look past simply the rate of interest. Different elements, resembling minimal stability necessities, charges, and withdrawal limits, can impression the whole worth you get from the account.
For instance, it is common for cash market accounts to require a big minimum balance to be able to earn the best marketed fee, as a lot as $5,000 or extra in some circumstances. Different accounts might cost monthly maintenance fees that may eat into your curiosity earnings.
Nonetheless, a number of MMAs provide aggressive charges with none stability necessities, charges, or different restrictions. That is why it is vital to buy round and evaluate accounts earlier than making a choice.
Moreover, make sure that the account you select is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which ensures deposits as much as $250,000 per establishment, per depositor. Most cash market accounts are federally insured, however it’s vital to double-check within the uncommon case the monetary establishment fails.
Learn extra: Money market account vs. high-yield savings account: Which is best for you?
Regularly requested questions: Cash market account charges
What’s the rate of interest in a cash market account?
The nationwide common rate of interest for cash market accounts is simply 0.57%, in keeping with the FDIC. Nonetheless, the most effective cash market account charges typically pay round 4% APY — just like the charges supplied on high-yield savings accounts.
How a lot will $50,000 make in a cash market account?
The quantity you’ll earn on $50,000 in a cash market account relies on the annual share fee (APY) and the time interval you permit the cash within the account. For instance, for those who deposit $50,000 right into a cash market account that pays 4.5% APY and left it in your account for one yr, you’d earn $2,303 in curiosity.
The place can I get 5% curiosity on my cash?
There are at the moment no cash market accounts that pay 5% APY. Nonetheless, some high-yield financial savings accounts from on-line banks pays upwards of 4%. You may also verify together with your native financial institution or credit score union to seek out out if they provide a 5% APY account that matches your wants.
