Money Market Interest Rates Today: July 31, 2025 - Earn Up To 4.5%
The highest money market account rate available today is 4.50%
Changes from the Fed or your bank can quickly change money market rates
Online banks typically offer the most competitive yields on the market
Right now, the average money market rate sits at 0.52%, but the best rate today is 4.5%, according to Curinos.
Here are today's money market account rates:
A money market account , or MMA, is an interest-bearing deposit account you can open at a bank or credit union. These are insured up to $250,000 per depositor by the Federal Deposit Insurance Corp. (FDIC) at banks, or the National Credit Union Administration (NCUA) at credit unions. The insurance protects your balance if your bank fails.
As with other savings accounts, your money in an MMA will grow as it earns interest, and you can add or withdraw funds at any time. You may also be able to write checks or use a debit card. However, depending on the bank, you could be limited to six transactions per statement period.
Money market accounts may offer higher interest rates than typical savings accounts. In exchange, they often require higher minimum deposits and balances .
To open a money market account , start by comparing the best yields on the market, but only include those accounts with minimum requirements you can meet. In addition to rates and minimums, consider account fees, withdrawal limits and other features to find the best fit.
When you're ready to open an account, submit an application online or at a bank branch. The application will ask for personal information, including your name, address, Social Security number, employment status and income. You'll also need to provide a government-issued ID. Once your application is approved, you can make your first deposit. Be sure to transfer at least the minimum opening deposit required.
Money market accounts act like a hybrid between savings accounts and a checking account.
Both MMAs and savings accounts: Let you deposit funds as you please
Earn interest on your savings
Are highly liquid
Are safe deposit accounts
May have withdrawal restrictions, balance requirements and monthly fees
Similar to checking accounts and unlike most savings, money market accounts: Can come with debit cards, checks or both
Tend to have higher fees
Tend to have deposit and balance requirements Frequently Asked Questions (FAQs)
Money market rates are variable and can change when economic conditions change, such as when the Federal Reserve alters interest rates or due to circumstances at a specific bank. There is no set schedule for when or by how much MMA rates change, so be on the lookout for notifications from your financial institution.
Banks set money market account rates. The specific rate offered by an institution reflects the general interest rate environment and the bank's economics. For instance, a new online-only financial institution may offer a high rate to gain customers, whereas an established bank could count on generations of depositors.
You can use a money market account calculator to see how much interest you'll earn. The amount of interest you earn is determined by the principal amount you deposit, the interest rate offered by your bank and the amount of time you save.
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