Money market account rates today, March 9, 2025 (best account provides 4.51% APY)

3 weeks ago 11

The Federal Reserve chopped its people complaint 3 times successful 2024. So deposit rates — including wealth marketplace relationship (MMA) rates — person started falling. It’s much important than ever to comparison MMA rates and guarantee you gain arsenic overmuch arsenic imaginable connected your balance.

The nationalist mean wealth marketplace relationship complaint stands astatine 0.64%, according to the FDIC.

Even so, immoderate of the apical accounts are presently offering rates of 4% APY and up. Since these rates whitethorn not beryllium astir overmuch longer, see opening a wealth marketplace relationship present to instrumentality vantage of today’s precocious rates.

Here’s a look astatine immoderate of the apical 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.

The magnitude of involvement you tin gain from a wealth marketplace relationship depends connected the yearly percent complaint (APY). This is simply a measurement of your full net aft 1 twelvemonth erstwhile considering the basal involvement complaint and however often involvement compounds (money marketplace relationship involvement typically compounds daily).

Say you enactment $1,000 successful an MMA astatine the mean involvement complaint of 0.64% with regular compounding. At the extremity of 1 year, your equilibrium would turn to $1,006.42 — your archetypal $1,000 deposit, positive conscionable $6.42 successful interest.

Now let’s accidental you take a high-yield wealth marketplace relationship that offers 4% APY instead. In this case, your equilibrium would turn to $1,040.81 implicit the aforesaid period, which includes $40.81 successful interest.

The much you deposit successful a wealth marketplace account, the much you basal to earn. If we took our aforesaid illustration of a wealth marketplace relationship astatine 4% APY, but deposit $10,000, your full equilibrium aft 1 twelvemonth would beryllium $10,408.08, meaning you’d gain $408.08 successful interest.