Highest-yielding money market accounts now pay 4.01% APY, though national averages remain near 0.57% amid a two-year rate decline.
The best money market accounts are offering yields up to 4.01% APY, led by TotalBank’s Online Money Market Deposit Account, as deposit rates continue to fall from recent highs. The national average stands at 0.57%, down from peaks but still elevated compared to 0.07% four years ago.
While top-tier accounts provide significantly higher returns, most require minimum balances, such as $2,500 for TotalBank or $1,000 for Brilliant Bank. Other institutions, including Zynlo and Redneck Bank, offer rates between 3.80% and 3.90% APY with varying terms.
Analysts suggest locking in current rates soon, as further declines may reduce yields on liquid savings products.