Best money market account rates today, April 2, 2025 (Secure up to 4.47% APY)

As involvement rates proceed to autumn pursuing the Fed’s caller complaint cuts, it’s much important than ever to guarantee you’re earning a competitory complaint connected your savings. One enactment you whitethorn privation to see is simply a wealth marketplace relationship (MMA).

These accounts are akin to savings accounts — they connection involvement connected your balance, but whitethorn besides see a debit paper and/or check-writing capabilities.

Wondering wherever the apical wealth marketplace relationship rates tin beryllium recovered today? Here’s what you request to know.

From a humanities perspective, wealth marketplace relationship involvement rates person been rather high. The nationalist mean involvement complaint for wealth marketplace accounts is conscionable 0.64%, according to the FDIC, but the apical wealth marketplace relationship rates often wage supra 4% APY oregon adjacent much — akin to the rates offered connected high-yield savings accounts.

Today, the champion wealth marketplace relationship complaint is offered by TotalBank. Account holders tin gain 4.47% APY with a $25,000 minimum opening deposit.

Here’s a look astatine immoderate of the highest MMA rates disposable today:

See our picks for the 10 champion wealth marketplace accounts disposable today>>

Additionally, the array beneath features immoderate of the champion savings and wealth marketplace relationship rates disposable contiguous from our verified partners.

Deposit relationship rates — including wealth marketplace rates — are tied to the national funds rate. This is an involvement complaint scope acceptable by the Federal Reserve and is what banks complaint each different for overnight loans. When the Fed increases the national funds rate, deposit relationship rates usually increase. And conversely, erstwhile the Fed lowers its rate, deposit rates fall.

Between July 2023 and September 2024, the Fed maintained a people scope of 5.25%–5.50%. However, arsenic ostentation cooled and the system improved, the Fed slashed the national funds complaint by 50 ground points successful September 2024. It past chopped an further 25 bps successful November, and different 25 bps successful December. As a result, wealth marketplace rates person begun to decline.

Further complaint cuts are expected successful 2025, which means present mightiness beryllium the past accidental for savers to instrumentality vantage of today’s higher rates.

Read more: Can you suffer wealth successful a wealth marketplace account?

• Is a wealth marketplace relationship a savings account?

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• Money marketplace relationship vs. CD: Which is the champion for savings?

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• Are wealth marketplace accounts FDIC-insured?

Considering that wealth marketplace relationship rates are inactive elevated, these accounts are an charismatic enactment for savers. Even so, deciding whether it’s the close clip to enactment wealth successful a wealth marketplace relationship besides depends connected your fiscal goals and the broader economical conditions. Here are immoderate cardinal factors to consider:

• Liquidity needs: Money marketplace accounts connection casual entree to your wealth since they often travel with check-writing capabilities oregon debit paper entree (though determination whitethorn beryllium a headdress connected monthly withdrawals). If you request to support your wealth accessible portion inactive earning a decent yield, a wealth marketplace relationship could beryllium ideal.

• Savings goals: If you person short-term savings goals oregon privation to physique an exigency fund, a wealth marketplace relationship tin supply a safer spot for your cash, with returns that are amended than astir accepted savings accounts.

• Risk tolerance: For blimpish savers who similar to debar the ups and downs of the banal market, wealth marketplace accounts are appealing due to the fact that they are backed by FDIC security and can’t suffer principal. However, if you’re redeeming for a semipermanent extremity similar retirement, riskier investments are indispensable to make higher returns that volition get you to your savings target.

Given that involvement rates are inactive elevated, present could beryllium a bully clip to see a wealth marketplace account, particularly if you’re seeking a equilibrium of safety, liquidity, and amended returns than accepted savings accounts. Comparing rates from antithetic institutions volition assistance you find the champion options available.

Today, the highest wealth marketplace relationship complaint is offered by Quontic Bank. It's MMA pays 4.75%, which is much than 7 times the nationalist average.

In today's falling involvement complaint environment, it's rather hard to find a deposit relationship that pays 5%. Some promotional checking accounts person rates supra 5% APY, though checking accounts aren't a large spot to store currency savings long-term. Instead, you whitethorn privation to analyse marketplace investments, which travel with much hazard than wealth marketplace accounts and different types of deposit accounts, but besides supply overmuch higher returns, connected average.

Yes. As agelong arsenic you unfastened an relationship with a federally insured slope oregon recognition union, your wealth marketplace relationship is harmless from marketplace risk. The lone mode your relationship tin suffer wealth is if you incur fees.