Latest news with #MMAs
Yahoo
8 hours ago
- Business
- Yahoo
Best money market account rates today, August 19, 2025 (Earn up to 4.41% APY)
Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility. Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills. Find out which banks have the best MMA rates today. Where are the best money market interest rates today? The national average interest rate for money market accounts is just 0.59%, according to the FDIC. However, the best money market account rates often pay above 4% APY — similar to the rates offered on high-yield savings accounts. Here is a look at today's highest money market account rates: Interested in earning the best possible interest rate on your savings balance? Here is a look at some of the best savings and money market account rates available today from our verified partners. This embedded content is not available in your region. Historical money market account rates Money market account rates have fluctuated significantly in recent years, largely due to changes in the Federal Reserve's target interest rate, known as the federal funds rate. In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed slashed the federal funds rate to near zero, which led to very low MMA rates. During this time, money market account rates were typically around 0.10% to 0.50%, with many accounts offering rates on the lower end of that range. Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher yields on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again cut its benchmark rate to near zero to combat the economic fallout. This resulted in a sharp decline in MMA rates. But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By late 2023, money market account rates had risen substantially, with many accounts offering 4.00% or higher. Throughout 2024, MMA interest rates remained elevated, and it was possible to find accounts that paid well above 5% APY. Today, rates remain high by historical standards, though they've begun a downward trajectory following the Fed's cuts in late 2024 and are expected to see additional cuts in mid-September. Today, online banks and credit unions tend to offer the highest rates. Up Next Up Next What to consider when choosing a money market account When comparing money market accounts, it's important to look beyond just the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can impact the total value you get from the account. For example, it's common for money market accounts to require a large minimum balance in order to earn the highest advertised rate — as much as $5,000 or more in some cases. Other accounts may charge monthly maintenance fees that can eat into your interest earnings. However, there are several MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That's why it's important to shop around and compare accounts before making a decision. Additionally, ensure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it's important to double-check in the rare case the financial institution fails. Read more: Are money market accounts safe? Sign up for the Mind Your Money weekly newsletter By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Money market account rates: Frequently asked questions What are money market rates right now? Today, money market account rates are still quite high by historical standards. The best accounts provide over 4% APY, with the highest rate available today at 4.41% APY. How much will $10,000 make in a money market account? The amount $10,000 will earn in a money market account depends on the annual percentage yield (APY) offered by the account, as well as how long you keep your money in the account. Let's say you choose to deposit $10,000 in a money market account that earns 4% APY with monthly compounding interest. After one year, you would earn $407.44 in interest, for a total balance of $10,407.44. What is the downside of a money market account? Money market accounts are generally safe and flexible savings options, but like any other financial product, they come with some downsides, too. For instance, some MMAs require a high minimum balance to open the account or to earn the advertised APY. Failing to maintain that minimum balance can result in penalties or reduced interest rates. Additionally, money market rates are variable, which means they can change at any time at the bank's discretions. If interest rates drop, so will your account APY, which can make future earnings unpredictable compared to fixed-rate products like CDs. This embedded content is not available in your region.
Yahoo
a day ago
- Business
- Yahoo
Best money market account rates today, August 18, 2025 (Earn up to 4.41% APY)
Find out which banks are offering the top rates. Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility. Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills. Where are the best money market interest rates today? Even though rates have been falling over the past several months, it's still possible to find money market accounts that pay more than 4% APY. Here is a look at some of today's best money market account rates: Interested in earning the best possible interest rate on your savings balance? Here is a look at some of the best savings and money market account rates available today from our verified partners. Historical money market account rates Money market account rates have fluctuated significantly in recent years, largely due to changes in the Federal Reserve's target interest rate. In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed slashed the federal funds rate to near zero, which led to very low MMA rates. During this time, money market account rates were typically around 0.10% to 0.50%, with many accounts offering rates on the lower end of that range. Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher yields on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again cut its benchmark rate to near zero to combat the economic fallout. This resulted in a sharp decline in MMA rates. But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By late 2023, money market account rates had risen substantially, with many accounts offering 4% or higher. However, the Fed finally began cutting rates in late 2024. As of 2025, MMA rates remain high by historical standards, though they've begun a downward trajectory following the Fed's most recent rate cuts. Today, online banks and credit unions tend to offer the highest rates. What to consider when choosing a money market account When comparing money market accounts, it's important to look beyond just the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can impact the total value you get from the account. For example, it's common for money market accounts to require a large minimum balance in order to earn the highest advertised rate — as much as $5,000 or more in some cases. Other accounts may charge monthly maintenance fees that can eat into your interest earnings. However, there are several MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That's why it's important to shop around and compare accounts before making a decision. Additionally, ensure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it's important to double-check in the rare case the financial insitution fails. Read more: Money market account vs. high-yield savings account: Which is best for you? Frequently asked questions: Money market account rates What is the interest rate in a money market account? The national average interest rate for money market accounts is just 0.64%, according to the FDIC. However, the best money market account rates often pay around 4% to 4.50% APY — similar to the rates offered on high-yield savings accounts. How much will $50,000 make in a money market account? The amount you will earn on $50,000 in a money market account depends on the annual percentage rate (APY) and the time period you leave the money in the account. For example, if you deposit $50,000 into a money market account that pays 4.5% APY and left it in your account for one year, you'd earn $2,303 in interest. Where can I get 5% interest on my money? There are currently no money market accounts that pay 5% APY. However, some high-yield savings accounts from online banks do. You can also check with your local bank or credit union to find out if they offer a 5% APY account that fits your needs.
Yahoo
11-08-2025
- Business
- Yahoo
Best money market account rates today, August 11, 2025 (Earn up to 4.41% APY)
Find out which banks are offering the top rates. Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility. Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills. Where are the best money market interest rates today? Even though rates have been falling over the past several months, it's still possible to find money market accounts that pay more than 4% APY. Here is a look at some of today's best money market account rates: Interested in earning the best possible interest rate on your savings balance? Here is a look at some of the best savings and money market account rates available today from our verified partners. This embedded content is not available in your region. Historical money market account rates Money market account rates have fluctuated significantly in recent years, largely due to changes in the Federal Reserve's target interest rate. In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed slashed the federal funds rate to near zero, which led to very low MMA rates. During this time, money market account rates were typically around 0.10% to 0.50%, with many accounts offering rates on the lower end of that range. Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher yields on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again cut its benchmark rate to near zero to combat the economic fallout. This resulted in a sharp decline in MMA rates. But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By late 2023, money market account rates had risen substantially, with many accounts offering 4% or higher. However, the Fed finally began cutting rates in late 2024. As of 2025, MMA rates remain high by historical standards, though they've begun a downward trajectory following the Fed's most recent rate cuts. Today, online banks and credit unions tend to offer the highest rates. What to consider when choosing a money market account When comparing money market accounts, it's important to look beyond just the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can impact the total value you get from the account. For example, it's common for money market accounts to require a large minimum balance in order to earn the highest advertised rate — as much as $5,000 or more in some cases. Other accounts may charge monthly maintenance fees that can eat into your interest earnings. However, there are several MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That's why it's important to shop around and compare accounts before making a decision. Additionally, ensure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it's important to double-check in the rare case the financial insitution fails. Read more: Money market account vs. high-yield savings account: Which is best for you? Frequently asked questions: Money market account rates What is the interest rate in a money market account? The national average interest rate for money market accounts is just 0.64%, according to the FDIC. However, the best money market account rates often pay around 4% to 4.50% APY — similar to the rates offered on high-yield savings accounts. How much will $50,000 make in a money market account? The amount you will earn on $50,000 in a money market account depends on the annual percentage rate (APY) and the time period you leave the money in the account. For example, if you deposit $50,000 into a money market account that pays 4.5% APY and left it in your account for one year, you'd earn $2,303 in interest. Where can I get 5% interest on my money? There are currently no money market accounts that pay 5% APY. However, some high-yield savings accounts from online banks do. You can also check with your local bank or credit union to find out if they offer a 5% APY account that fits your needs. This embedded content is not available in your region.
Yahoo
04-08-2025
- Business
- Yahoo
Best money market account rates today, August 4, 2025 (Earn up to 4.41% APY)
Find out which banks are offering the top rates. Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility. Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills. Where are the best money market interest rates today? Even though rates have been falling over the past several months, it's still possible to find money market accounts that pay more than 4% APY. Here is a look at some of today's best money market account rates: Interested in earning the best possible interest rate on your savings balance? Here is a look at some of the best savings and money market account rates available today from our verified partners. This embedded content is not available in your region. Historical money market account rates Money market account rates have fluctuated significantly in recent years, largely due to changes in the Federal Reserve's target interest rate. In the wake of the 2008 financial crisis, for example, interest rates were kept extremely low to stimulate the economy. The Fed slashed the federal funds rate to near zero, which led to very low MMA rates. During this time, money market account rates were typically around 0.10% to 0.50%, with many accounts offering rates on the lower end of that range. Eventually, the Fed began raising interest rates gradually as the economy improved. This led to higher yields on savings products, including MMAs. However, in 2020, the COVID-19 pandemic led to a brief but sharp recession, and the Fed once again cut its benchmark rate to near zero to combat the economic fallout. This resulted in a sharp decline in MMA rates. But starting in 2022, the Fed embarked on a series of aggressive interest rate hikes to combat inflation. This led to historically high deposit rates across the board. By late 2023, money market account rates had risen substantially, with many accounts offering 4% or higher. However, the Fed finally began cutting rates in late 2024. As of 2025, MMA rates remain high by historical standards, though they've begun a downward trajectory following the Fed's most recent rate cuts. Today, online banks and credit unions tend to offer the highest rates. What to consider when choosing a money market account When comparing money market accounts, it's important to look beyond just the interest rate. Other factors, such as minimum balance requirements, fees, and withdrawal limits, can impact the total value you get from the account. For example, it's common for money market accounts to require a large minimum balance in order to earn the highest advertised rate — as much as $5,000 or more in some cases. Other accounts may charge monthly maintenance fees that can eat into your interest earnings. However, there are several MMAs available that offer competitive rates without any balance requirements, fees, or other restrictions. That's why it's important to shop around and compare accounts before making a decision. Additionally, ensure that the account you choose is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per institution, per depositor. Most money market accounts are federally insured, but it's important to double-check in the rare case the financial insitution fails. Read more: Money market account vs. high-yield savings account: Which is best for you? Frequently asked questions: Money market account rates What is the interest rate in a money market account? The national average interest rate for money market accounts is just 0.64%, according to the FDIC. However, the best money market account rates often pay around 4% to 4.50% APY — similar to the rates offered on high-yield savings accounts. How much will $50,000 make in a money market account? The amount you will earn on $50,000 in a money market account depends on the annual percentage rate (APY) and the time period you leave the money in the account. For example, if you deposit $50,000 into a money market account that pays 4.5% APY and left it in your account for one year, you'd earn $2,303 in interest. Where can I get 5% interest on my money? There are currently no money market accounts that pay 5% APY. However, some high-yield savings accounts from online banks do. You can also check with your local bank or credit union to find out if they offer a 5% APY account that fits your needs. This embedded content is not available in your region.
IOL News
23-05-2025
- Entertainment
- IOL News
Cloned - Durban set to host Metro FM Music Awards for the next three years
The eThekwini Municipality is anticipating hosting the Metro FM Music Awards (MMA) for the next three years with a proposed R30 million investment. Image: File THE eThekwini Municipality is setting its sights on becoming the new home of the prestigious Metro FM Music Awards (MMAs) for the next three years, with a bold R30 million investment proposal on the table. The Metro FM Music Awards, known for celebrating the best in South African urban music, have long been a staple in the local entertainment calendar. Their potential relocation to Durban signals more than just a venue change, it marks a strategic move by the city to position itself as a cultural powerhouse both regionally and internationally. The proposal, which was discussed in detail during an Executive Committee (Exco) meeting on Friday, is set to go before the full council for approval on Monday. Lihle Phewa, the head: Development Planning, Environment and Management, said the host city partnership with Metro FM will yield positive results, adding that the profile of the MMAs event is significant and historical because it is the biggest lifestyle radio station in South Africa, the Southern African Development Community (SADC), and online. This year, the highly anticipated MMAs were held at the Mbombela Stadium in Mpumalanga on May 3, and included a live concert with a star-studded line-up after the awards ceremony. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The municipality intends to invest R10 million per year, part of it for media destination, promotion, and leveraging. Phewa said the event planning, implementation, delivery of contractual obligations, and the overall management will be closely monitored by the city. She stated that the event debriefs with documented reports will be carried out post-event to determine the municipality's return on investment. According to Phewa, Durban strategically positions itself as a premium tourism and events city within the global space. Phewa said the approach in event partnership is aligned with the recently launched Durban's visitor strategy to take Durban to the world. "The key focus is to leverage events for territorial marketing and promotion, economic development, and job creation," Phewa said. Phewa said the partnership between eThekwini and the MMAs offers numerous benefits, ensuring maximum visibility, economic impact, and community development. All event and pre-event logistics, including security, catering, furniture, and restaurant services, will be managed by local suppliers, driving economic activity within the community. The municipality stated that the exposure they receive has a projected value of R60 million. Phewa added that temporary jobs will also be created, and the city was determined to bring the event back to Durban. Mdu Nkosi, IFP Exco member, said the event will also boost township tourism and even street traders in Durban. Nkosi commended the Economic cluster for negotiating to bring the event back to Durban. Nkosenhle Madlala, ANC Exco chief whip, said that previously the event attracted international visitors and celebrities to Durban, which will also benefit hoteliers. 'The vibe it created and the spin-off from other events, like after-parties, is a valuable contributor to the municipality. We lost the event to Cape Town previously, and we are happy that negotiations will get under way to bring the event back,' Madlala said. Cyril Xaba, eThekwini mayor, said Durban should be the preferred destination for entertainment and sporting events. 'In business, you must invest money to make money. The spin-off from hosting this event is huge, so we must support it. Durban should become the home of this prestigious event. We regret losing this event,' he said.
