Today’s top money market account rate roundup…

Money market accounts vs. savings accounts
Money market account rates typically offer higher yields than those provided by savings accounts. MMAs often require a higher minimum deposit or balance, but banks and financial institutions typically reward clients for maintaining larger balances with higher rates.

Currently, the average rate on an MMA with a $10,000 minimum balance in Curinos’ dataset stands at 0.56% APY, while the average rate you’ll find on a savings account with a $10,000 balance is a mere 0.23% APY.

Keep in mind that savings accounts are better suited to achieve a particular goal, such as maintaining an emergency fund or amassing a down payment on a home. By placing your funds in a high-yield savings account, you’ll earn interest and you’ll hopefully also be less inclined to spend the money.