Finest cash market account charges at present, February 17, 2026 (Earn as much as 4.01% APY)

Cash market accounts (MMAs) is usually a excellent place to retailer your money should you’re in search of a comparatively excessive rate of interest together with liquidity and suppleness. In contrast to conventional financial savings accounts, MMAs usually supply higher returns, they usually might also present check-writing privileges and debit card entry. This makes these accounts excellent for holding long-term financial savings that you just need to develop over time, however can nonetheless entry when wanted for sure purchases or payments.

Discover out which banks have the perfect MMA charges at present.

The nationwide common rate of interest for cash market accounts is simply 0.39%, in response to the FDIC. Nevertheless, the perfect cash market account charges usually pay above 4% APY — much like the charges provided on high-yield financial savings accounts.

Here’s a have a look at at present’s highest cash market account charges:

Serious about incomes the very best rate of interest in your financial savings stability? Here’s a have a look at a number of the greatest financial savings and cash market account charges out there at present from our verified companions.

Cash market account charges have fluctuated considerably in recent times, largely resulting from adjustments within the Federal Reserve’s goal rate of interest, generally known as the federal funds fee.

Within the wake of the 2008 monetary disaster, for instance, rates of interest had been saved extraordinarily low to stimulate the economic system. The Fed slashed the federal funds fee to close zero, which led to very low MMA charges. Throughout this time, cash market account charges had been usually round 0.10% to 0.50%, with many accounts providing charges on the decrease finish of that vary.

Ultimately, the Fed started elevating rates of interest step by step because the economic system improved. This led to greater yields on financial savings merchandise, together with MMAs. Nevertheless, in 2020, the COVID-19 pandemic led to a quick however sharp recession, and the Fed as soon as once more minimize its benchmark fee 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 collection 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 4.00% or greater.

All through 2024, MMA rates of interest remained elevated, and it was doable to search out accounts that paid effectively above 5% APY.

At this time, charges stay excessive by historic requirements, although they have been steadily trending downward following the Fed’s cuts in late 2024 and its three fee cuts in 2025. At this time, on-line banks and credit score unions have a tendency to supply the best charges.

When evaluating cash market accounts, it is vital to look past simply the rate of interest. Different components, resembling minimal stability necessities, charges, and withdrawal limits, can impression the full worth you get from the account.

For instance, it is common for cash market accounts to require a big minimal stability in an effort to earn the best marketed fee — as a lot as $5,000 or extra in some instances. Different accounts could cost month-to-month upkeep charges that may eat into your curiosity earnings.

Nevertheless, there are a number of MMAs out there that provide aggressive charges with none stability necessities, charges, or different restrictions. That is why it is vital to buy round and evaluate accounts earlier than making a call.

Moreover, be certain 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: Are cash market accounts secure?