Best Money Market Account Rates Today: Up to 4.75% APY

As of February 5, 2025, the best money market account (MMA) rates available are up to 4.75% APY, offering competitive returns for savers looking to grow their cash. Money market accounts combine the liquidity of savings accounts with higher interest rates and limited transaction privileges, making them an attractive option for short-term savings or emergency funds.



Quontic Bank currently offers the highest money market account rate, with an APY of 4.75% on all balances. This account requires a $100 minimum deposit but has no monthly fees. Vio Bank's Cornerstone Money Market Savings Account offers a competitive APY of 4.56% with a $100 minimum deposit and no monthly maintenance fee. CFG Community Bank's High Yield Money Market account offers an APY of 4.52% on balances of $1,000 or more, with a $10 monthly fee that can be waived by maintaining the minimum balance.

When choosing a money market account, consider the following factors:

1. Annual Percentage Yield (APY): Compare the APYs offered by different institutions to maximize your earnings.
2. Minimum balance requirements: Ensure that the minimum balance requirements fit your savings goals and budget.
3. Monthly fees: Look for accounts with no monthly fees or options to waive them by maintaining a specific balance.
4. Transaction privileges: Consider the account's check-writing and debit card access, as well as any limits on withdrawals and transfers.
5. FDIC or NCUA insurance: Ensure that your deposits are protected by FDIC insurance (for banks) or NCUA insurance (for credit unions) up to the maximum allowed limit.

By considering these factors and comparing the features and benefits of different money market accounts, you can make an informed decision and choose the best account for your needs. With the current best money market account rates up to 4.75% APY, savers have an excellent opportunity to grow their cash while maintaining liquidity and limited transaction privileges.