When it comes to your savings, which is better: a money market account or ahigh-yield savings account? Money market accounts usually offer a higher interest rate than traditional savings accounts. But both money market and high-yield savings accounts can earn high rates. Why choose one over t...
Best Money Market Account Interest Rates As of Dec. 16, 2024, the national average rate for money market accounts was 0.66%, according to the FDIC. One of the best high-yield savings accounts might offer higher APYs. What Is a Money Market Account? A money market account is a type of...
Best money market accounts and rates for January 2025 Note: Annual percentage yields (APYs) shown were updated between Dec. 17 and Dec. 23. All other information is current as of Dec. 23. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed...
The best money market accounts have rates above 5% APY. Here’s how to make your money work harder.
Northern Bank Direct offers some of the best Money Market and CD rates available online, nationwide. Update 11/23/24: Rate is now 4.75%. You might also want to consider this one from CIT Bank. Update 9/25/2024: Rate decreased slightly to 4.85%.…GET OFFER ...
Looking for the best Best Savings Rates and Money Market Rates? Review the Top High Yield Certificate of Deposit rates. Compare the Best Best Savings Rates and Money Market Rates. FDIC insured Banks. Highest APY Interest Rate. Highest Yield CD Rates.
Money market funds invest in short-term securities and offer investors additional return above what they’d earn by holding cash. Investors should be aware that money market rates can respond quickly to changes in interest rates.— James Royal, Ph.D., Bankrate Investing and Wealth Management Prin...
Today's high interest rates are a welcome environment for income-seeking investors — especially those who are considering investing in money market mutual funds. Money market mutual funds are investment vehicles that invest in high-quality, short-term debt securities, and pass the interest payments...
Updated January 09, 2025 Fact checked by Maddy Simpson The best money market account rate is 4.85% APY at Brilliant Bank. That's more than seven times the FDIC's national average for money market accounts of 0.66% APY, and is just one of 15 or more top rates you can find in our ran...
CDs, on the other hand, pay interest at fixed rates, meaning the rate is guaranteed to remain the same for its entire term.2. Money market accounts (MMAs)Like high-yield savings accounts, money market accounts are a more liquid alternative to CDs that grant rapid access to funds as ...