Maximize Your Savings with High-Yield MMAs
Update: 2025-12-02
Description
Money market accounts (MMAs) offer higher interest rates than savings accounts, with rates ranging from zero point five nine percent to over four percent. These rates have fluctuated due to the Federal Reserves target interest rate, dropping after the 2008 financial crisis and the 2020 pandemic, then surging in 2022-2023 to historically high levels. Online banks and credit unions currently lead in competitive rates. When selecting an MMA, consider factors beyond interest rate, such as minimum balance, fees, and withdrawal limits. Ensure your account is FDIC or NCUA insured for up to two hundred fifty thousand dollars.
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