Money Market Accounts: Top Rates Today, February 1, 2025

As of February 1, 2025, the national average rate for money market accounts (MMAs) stands at 0.64%, according to the FDIC. However, savvy consumers can find higher yields by shopping around. Quontic Bank, for instance, offers an impressive 4.75% APY on its money market account, making it an attractive option for those looking to grow their savings.



Quontic Bank's money market account stands out with its competitive APY, low minimum deposit requirement, and lack of monthly service fees. Additionally, the account comes with a debit card for easy access to funds and Zelle for convenient money transfers. Mobile deposit is also available, making it simple to add funds to the account.

While Vio Bank's Cornerstone Money Market Savings Account offers a competitive APY of 4.56%, it lacks a debit card and charges a $5 paper statement fee. CFG Community Bank's High Yield Money Market account offers an APY of 4.52% on balances of $1,000 or more, but it requires a higher minimum deposit and charges a $10 monthly service fee if the account balance falls below $1,000.

When considering a money market account, it's essential to weigh the APY, minimum deposit requirements, fees, and available features. Quontic Bank's money market account offers a compelling combination of a high APY, low minimum deposit, no monthly fees, debit card access, Zelle for money transfers, and mobile deposit. These features make it an attractive option for savers looking to maximize their earnings in today's market.

In conclusion, while the national average rate for money market accounts may be relatively low, consumers can find higher yields by exploring the options available. Quontic Bank's money market account, with its competitive APY and attractive features, is an excellent choice for those looking to grow their savings in 2025.