Best money market account rates today, April 20, 2026 (Earn up to 4.01% APY)

Find out which banks offer the highest rates. Money market accounts (MMAs) can be a great place to keep your cash if you want the highest interest rates as well as liquidity and flexibility.

Unlike traditional savings accounts, MMAs often offer better returns, and may also offer check writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but still have access to when needed for specific purchases or debts.

Even though rates have been dropping for the past few months, it’s still possible to find money market accounts that pay more than 4% APY.

Here’s a look at some of today’s best money market account rates:

The rate of the money market account has fluctuated significantly in recent years, mainly due to changes in the Federal Reserve’s target interest rate.

After the financial crisis of 2008, for example, interest rates were kept very low to stimulate the economy. The Fed lowered the federal funds rate to zero, resulting in extremely low MMA rates. During this time, money market account rates were typically between 0.10% to 0.50%, with most accounts offering rates at the lower end of that range.

Eventually, the Fed began raising interest rates gradually as the economy improved. This has led to higher yields in savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again lowered its benchmark rate to zero to combat the recession. This caused a huge drop in MMA standards.

But starting in 2022, the Fed began a series of aggressive interest rate hikes to fight inflation. This has led to the highest deposit rates throughout history. By late 2023, money market account rates had risen sharply, with many accounts offering 4% or more. However, the Fed finally started cutting rates in late 2024 and continues to cut rates in 2025.

As of 2026, MMA rates remain high by historical standards, although they have begun a downward trend following the Fed’s most recent rate cut. Today, online banks and credit unions often offer the highest rates.

When comparing money market accounts, it’s important to look beyond the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can affect the total amount you receive from the account.

For example, it’s common for money market accounts to require a minimum balance to earn the maximum advertised amount – as much as $5,000 or more in some cases. Some accounts may charge monthly maintenance fees that can eat into your earnings.

However, there are a few MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That’s why it’s important to shop around and compare accounts before making a decision.

Additionally, make sure the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which insures deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it’s important to double check in the rare event the financial institution fails.

Read more: Money market account vs. high-yield savings account: Which is best for you?

The national average interest rate for money market accounts is just 0.56%, according to the FDIC. However, the best money market account rates typically pay around 4% APY – similar to the rates offered on high-yield savings accounts.

The amount you’ll earn on $50,000 in a money market account depends on the annual percentage rate (APY) and how long you leave the money in the account. For example, if you put $50,000 into a money market account that pays 4.5% APY and leave it in your account for one year, you’ll earn $2,303 in interest.

There are currently no money market accounts that pay 5% APY. However, some high-yield savings accounts from online banks can pay more than 4%. You can also check with your local bank or credit union to find out if they offer a 5% APY account that fits your needs.