Today’s top money market account rate roundup…

The average money market account (MMA) rate has ticked up since last week and sits at 0.56%. But if you shop around you could get a much higher rate of around 5%. These accounts can be a good option for savers who prioritize account flexibility and potentially higher interest rates than those typically found offered by traditional savings accounts.

Source: Curinos. Average APY date accurate as of December 27, 2023.

Money market account rates
Money market accounts with a $10,000 minimum balance currently offer an average APY of 0.56%, per Curinos data, slightly higher than last week.

The highest rate in the Curinos dataset sits at 5.13%, so you may be able to find higher rates in your own research.

If you were to invest $10,000 into an MMA with a 5.13% interest rate that compounds daily, you would earn more than $520 in interest over a year, assuming no withdrawals or additional contributions are made.