The average money market account (MMA) rate has ticked up since last week and sits at 0.58%. But if you shop around you could get a much higher rate of around 5%. These accounts can be a worthy option for savers who prefer account flexibility and potentially higher interest rates than those typically found offered by traditional savings accounts.

Money market accounts with a $10,000 minimum balance currently offer an average APY of 0.58%, per Curinos data, slightly higher than last week.

The highest rate in the Curinos dataset sits at 5.13%, so you may be able to find higher rates in your own research.

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https://www.usatoday.com/money/blueprint/banking/mmas/money-market-account-rates-03-13-24/

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