Top Money Market Account Rates for August 31, 2025: Leading Account Offers 4.41% APY

Money Market Account Rates Overview

• Federal Reserve Rate Cuts: The Federal Reserve has reduced its target interest rate three times in 2024, leading to a decline in deposit rates, including money market account (MMA) rates.
• Current National Average: The national average MMA rate is currently at 0.59%, as reported by the FDIC.

High-Yield Money Market Accounts

• Top Rates Available: Some high-yield money market accounts are offering rates of 4% APY or higher, which may not last long, prompting a recommendation to open accounts now to benefit from these rates.
• Interest Calculation Example: A $1,000 deposit at the average rate of 0.59% would yield $5.92 in interest after one year, while a 4% APY account would generate $40.81 in interest, bringing the total to $1,040.81.

Potential Earnings with Higher Deposits

• Impact of Deposit Amount: Depositing $10,000 in a 4% APY MMA would result in a total balance of $10,408.08 after one year, earning $408.08 in interest.

Additional Financial Products

• Best High-Yield Savings Accounts: A review of the best high-yield savings accounts has been conducted, focusing on interest rates and fees.
• CD Rates: The article also highlights the best Certificate of Deposit (CD) rates available across various terms, including 6-month, 1-year, and 18-month options.
• Apple Savings Account: The Apple Savings account offers interest on Apple credit card rewards but comes with certain drawbacks that potential users should consider.

Understanding Interest Rates

• Fixed vs. Variable Rates: The importance of understanding how interest rates work is emphasized, particularly the differences between fixed and variable rates.
• Promotional CDs: The article suggests considering promotional CDs as a way to earn more on savings, with a look at the best limited-time CD rates currently available.