Finest cash market account charges as we speak, February 24, 2026 (Earn as much as 4.01% APY)

Cash market accounts (MMAs) generally is a excellent place to retailer your money in the event you’re in search of a comparatively excessive rate of interest together with liquidity and adaptability. In contrast to conventional financial savings accounts, MMAs usually supply higher returns, they usually might also present check-writing privileges and debit card entry. This makes these accounts perfect for holding long-term financial savings that you just wish to develop over time, however can nonetheless entry when wanted for sure purchases or payments.

Discover out which banks have one of the best MMA charges as we speak.

The nationwide common rate of interest for cash market accounts is simply 0.39%, in line with the FDIC. Nonetheless, one of the best cash market account charges typically pay above 4% APY — much like the charges provided on high-yield financial savings accounts.

Here’s a have a look at as we speak’s highest cash market account charges:

Cash market account charges have fluctuated considerably lately, largely on account of modifications within the Federal Reserve’s goal rate of interest, often called the federal funds fee.

Within the wake of the 2008 monetary disaster, for instance, rates of interest had been saved extraordinarily low to stimulate the economic system. The Fed slashed the federal funds fee to close zero, which led to very low MMA charges. Throughout this time, cash market account charges had been usually round 0.10% to 0.50%, with many accounts providing charges on the decrease finish of that vary.

Finally, the Fed started elevating rates of interest regularly because the economic system improved. This led to increased yields on financial savings merchandise, together with MMAs. Nonetheless, in 2020, the COVID-19 pandemic led to a short however sharp recession, and the Fed as soon as once more minimize its benchmark fee to close zero to fight the financial fallout. This resulted in a pointy decline in MMA charges.

However beginning in 2022, the Fed launched into a sequence of aggressive rate of interest hikes to fight inflation. This led to traditionally excessive deposit charges throughout the board. By late 2023, cash market account charges had risen considerably, with many accounts providing 4.00% or increased.

All through 2024, MMA rates of interest remained elevated, and it was doable to search out accounts that paid effectively above 5% APY.

As we speak, charges stay excessive by historic requirements, although they have been steadily trending downward following the Fed’s cuts in late 2024 and its three fee cuts in 2025. As we speak, on-line banks and credit score unions have a tendency to supply the very best charges.

When evaluating cash market accounts, it is necessary to look past simply the rate of interest. Different elements, akin to minimal steadiness necessities, charges, and withdrawal limits, can influence the full worth you get from the account.

For instance, it is common for cash market accounts to require a big minimal steadiness with a purpose to earn the very best marketed fee — as a lot as $5,000 or extra in some instances. Different accounts could cost month-to-month upkeep charges that may eat into your curiosity earnings.

Nonetheless, there are a number of MMAs obtainable that supply aggressive charges with none steadiness necessities, charges, or different restrictions. That is why it is necessary to buy round and evaluate accounts earlier than making a call.

Moreover, make sure that the account you select is insured by the Federal Deposit Insurance coverage Company (FDIC) or the Nationwide Credit score Union Administration (NCUA), which ensures deposits as much as $250,000 per establishment, per depositor. Most cash market accounts are federally insured, but it surely’s necessary to double-check within the uncommon case the monetary establishment fails.

Learn extra: Are cash market accounts protected?