Money Market Account Rates Today: February 22, 2025 - Best Account Offers 4.75% APY

Money market accounts (MMAs) have been gaining traction among savers looking for higher yields and checking account-like features. As of February 22, 2025, the best money market account rates are competitive, with some accounts offering annual percentage yields (APYs) of up to 4.75%. Let's explore the current money market account rates, the best options, and what these accounts have to offer.

Money market account rates today
As of February 22, 2025, the national average rate for money market accounts is around 0.64% (FDIC, August 2024). However, the best money market accounts offer significantly higher APYs. Here are some of the top money market account rates available today:

1. Quontic Bank: 4.75% APY
2. Vio Bank: 4.56% APY
3. CFG Community Bank: 4.52% APY
4. Sallie Mae Bank: 4.10% APY



Why choose a money market account?
Money market accounts combine the benefits of savings accounts and checking accounts, making them an attractive option for savers. Here are some key features and benefits of money market accounts:

1. Higher interest rates: MMAs typically offer higher interest rates than traditional savings accounts, allowing your money to grow faster.
2. Checking account features: Many MMAs come with check-writing privileges and/or debit cards, providing easy access to your funds.
3. Limited withdrawals: While MMAs have withdrawal limitations (six per month), they offer more liquidity than CDs.
4. FDIC insurance: Like other deposit accounts, MMAs are FDIC-insured (for banks) or NCUA-insured (for credit unions), protecting depositors' funds up to $250,000.

The best money market account for you
When choosing a money market account, consider your financial goals, minimum balance requirements, and the APY offered. Here are some recommendations based on the current market:

1. Quontic Bank: Best for high APY and debit card access
Quontic Bank's money market account offers an impressive 4.75% APY and comes with a debit card for easy access to your funds. With a minimum deposit of $100, this account is an excellent choice for those looking for a high yield and convenient checking account features.
2. Vio Bank: Best for online banking and high yield
Vio Bank's Cornerstone Money Market Savings Account offers a competitive 4.56% APY with no minimum balance requirement for the APY. This account is ideal for those who prefer online banking and want a high yield without the need for a minimum balance.
3. CFG Community Bank: Best for in-person banking and competitive APY
CFG Community Bank's High Yield Money Market account offers a competitive 4.52% APY, but it requires a minimum balance of $1,000 to earn interest and waive the monthly fee. This account is suitable for those who prefer in-person banking and have the required minimum balance.

In conclusion, money market account rates today are competitive, with some accounts offering APYs of up to 4.75%. When choosing a money market account, consider your financial goals, minimum balance requirements, and the APY offered. The best money market account for you will depend on your specific needs and preferences.