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A money market account is a type of savings account that tends to offer check writing privileges, and is a debit card for accessing your savings. Savings accounts usually don’t allow you to write a check from your account, making them a unique option for saving and tapping money when you need it. The average money market account yield is an annual rate (APY) of 0.45% as of May 26, 2025.
You may be rewarded for depositing more money in your money market account
Some money market accounts offer a higher APY to get a bigger balance. Always make sure you follow the Federal Deposit Insurance (FDIC) rules and guidelines to ensure your money is protected in the event of a bank failure.
Latest Average Money Market Accounts APY for the last 3 months
| date | Money Market Accounts National Average APY |
| 05/26/25 | 0.45% |
| 05/19/25 | 0.45% |
| 5/12/25 | 0.45% |
| 5/5/25 | 0.46% |
| 4/28/25 | 0.46% |
| 4/21/2025 | 0.49% |
| 4/14/2025 | 0.47% |
| 4/7/2025 | 0.46% |
| 3/31/2025 | 0.46% |
| 3/24/2025 | 0.45% |
| 3/17/2025 | 0.45% |
| 3/10/2025 | 0.46% |
| 3/3/2025 | 0.47% |
| 2/24/25 | 0.46% |
How to calculate the national average interest rate
Over 1,000 banks and credit unions are surveyed weekly to generate a national average. Some of these institutions offer a wide range of available institutions and high yields, as well as some of the nation’s largest banks.
Compare current money market account prices for May 2025
Note: Annual Percent Yield (APY) displayed May 29, 2025. Bankrate’s editorial team reviews this information regularly, usually weekly. APY may have changed since the last update and may vary depending on the region of some products. Bank rates only include credit unions from the FDIC Bank or the National Credit Union Agency (NCUA) on the list.
What affects money market account rates?
The Federal Reserve indirectly affects money market account fees at competitive banks. In general, we can see that FDIC bank yields follow the Fed’s movement. However, an increase or decrease in the Fed rate does not guarantee that the bank will change its fees.
Therefore, you need to compare money market account rates to find an account that suits your financial needs.
Beyond the yield, you need to make sure your money market account has the features you are looking for. Checkwriting privileges, ATM access, mobile check deposits, and highly rated apps are features people tend to look for.
Apart from the possibility of checkwriting, money market accounts and high yield savings accounts are pretty similar. Therefore, it is also worth considering opening a high profit savings account through searching for money market accounts.
Conclusion
You can easily earn above national average fees with your Money Market account. Some FDIC insurance online banks have money market accounts that do not require a minimum operating deposit or require a small amount to open an account. When comparing money market accounts, look for an account with FDIC insurance banks that do not offer high APY and monthly fees.