Discover out which banks are providing the highest charges. Cash market accounts (MMAs) could be 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 suppleness.
Not like conventional financial savings accounts, MMAs sometimes provide higher returns, and so they may present check-writing privileges and debit card entry. This makes these accounts ideally suited 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.
The place are the very best cash market rates of interest as we speak?
Regardless that charges have been falling over the previous a number of months, it is nonetheless potential to seek out cash market accounts that pay greater than 4% APY.
Here’s a have a look at a few of as we speak’s finest cash market account charges, Monday, June 22, 2026:
Historic cash market account charges
Cash market account charges have fluctuated considerably lately, largely as a result of adjustments within the Federal Reserve’s goal rate of interest.
Within the wake of the 2008 monetary disaster, for instance, rates of interest have been saved extraordinarily low to stimulate the economic system. The Fed slashed the federal funds price to close zero, which led to very low MMA charges. Throughout this time, cash market account charges have been sometimes 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 steadily because the economic system improved. This led to larger yields on financial savings merchandise, together with MMAs. Nonetheless, in 2020, the COVID-19 pandemic led to a quick however sharp recession, and the Fed as soon as once more lower its benchmark price 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% or larger. Nonetheless, the Fed lastly started slicing charges in late 2024 and continued slicing charges in 2025.
To date in 2026, the Fed has left rates of interest unchanged. MMA charges stay excessive by historic requirements, although they’ve begun a downward trajectory following the Fed’s price cuts in 2025. In the present day, on-line banks and credit score unions have a tendency to supply the best charges.
What to contemplate when selecting a cash market account
When evaluating cash market accounts, it is vital to look past simply the rate of interest. Different elements, corresponding to minimal steadiness necessities, charges, and withdrawal limits, can affect the full worth you get from the account.
For instance, it is common for cash market accounts to require a big minimal steadiness so as to earn the best marketed price, as a lot as $5,000 or extra in some circumstances. Different accounts could cost month-to-month upkeep charges that may eat into your curiosity earnings.
Nonetheless, a number of MMAs provide aggressive charges with none steadiness necessities, charges, or different restrictions. That is why it is vital to buy round and examine accounts earlier than making a choice.
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 vital to double-check within the uncommon case the monetary establishment fails.
Learn extra: Cash market account vs. high-yield financial savings account: Which is finest for you?
Cash market account charges FAQs
What’s the rate of interest in a cash market account?
The nationwide common rate of interest for cash market accounts is simply 0.61%, in accordance with the FDIC. Nonetheless, the very best cash market account charges typically pay round 4% APY — much like the charges supplied on high-yield financial savings accounts.
How a lot will $50,000 make in a cash market account?
The quantity you’ll earn on $50,000 in a cash market account is determined by the annual proportion price (APY) and the time interval you permit the cash within the account. For instance, in the event you deposit $50,000 right into a cash market account that pays 4.5% APY and left it in your account for one yr, you’d earn $2,303 in curiosity.
The place can I get 5% curiosity on my cash?
There are presently no cash market accounts that pay 5% APY. Nonetheless, some high-yield financial savings accounts from on-line banks will pay upwards of 4%. You may also examine together with your native financial institution or credit score union to seek out out if they provide a 5% APY account that matches your wants.
