Reported about 1 month ago
Money market accounts (MMAs) combine savings and checking features, offering competitive interest rates while providing easy access to funds. The national average MMA rate is currently 0.64%, which is relatively high compared to historical data. However, many banks offer rates significantly above this average, with some exceeding 5% APY. To secure the best rates, consumers should compare offers from different institutions, check for relationship rates with their current bank, consider larger opening deposits, and be mindful of potential fees.
Source: YAHOO