Best money market account rates today, February 26, 2026 (earn up to 4.01% APY)

Find out which banks offer the best MMA rates right now. With interest rates starting to drop following the Fed’s latest rate cuts, it’s more important than ever to make sure you’re getting a competitive rate on your savings. Another option you may want to consider is a money market account (MMA). These accounts are similar to savings accounts – they offer interest on your balance, but may also include debit card and/or check writing capabilities.

Wondering where the best money market account rates can be found today? Here’s what you need to know.

From a historical perspective, money market account interest rates have been very high. The national average interest rate for money market accounts is only 0.56%, according to the FDIC, but the top money market account rates often pay more than 4% APY or even more — similar to the rates offered on high-yield savings accounts.

Here’s a look at some of the top MMA ratings available today:

Between July 2023 and September 2024, the Fed has maintained a target range for its federal funds rate of 5.25%–5.50%. However, as inflation cooled and the economy improved, the Fed cut the federal funds rate three times that year.

In 2025, the Fed makes three additional rate cuts. As a result the government funds rate now stands at 3.50%-3.75%. Deposit account rates have fallen steadily, meaning now may be the last chance for savers to take advantage of today’s high rates.

Read more: Can you lose money in a money market account?

Considering that money market account rates are still elevated, these accounts are an attractive option for savers. However, deciding when is the right time to invest in a money market account also depends on your financial goals and broader economic conditions. Here are some important factors to consider:

• Liquidity Requirements: Money market accounts offer easy access to your money as they often come with check writing capability or debit card access (although there may be a limit on monthly withdrawals). If you need to keep your money accessible while still earning a good yield, a money market account can be great.

• Savings goals: If you have short-term savings goals or want to build an emergency fund, a money market account can provide a safe place for your money, with better returns than most traditional savings accounts.

• Risk tolerance: For conservative savers who prefer to avoid the ups and downs of the stock market, money market accounts are attractive because they are backed by FDIC insurance and cannot lose principal. However, if you’re saving for a long-term goal like retirement, risky investments are necessary to generate high returns that will get you to your savings goal.

Given that interest rates are still high, now may be a good time to consider a money market account, especially if you’re looking for a balance of safety, liquidity, and better returns than traditional savings accounts. Comparing rates from different agencies will help you find the best options available.

Today’s money market account rates vary slightly at different financial institutions. Although the national average MMA is currently 0.56%, there are banks that offer more than 4% APY. In general, you won’t find money market rates higher than 4.5%.

Unfortunately, there are very few accounts that offer 7% interest. Those are limited time promotions, and are usually available on checking accounts. There are currently no money market accounts that pay 7%.