Top Money Market Accounts Yield Up to 4.01% APY as Fed Holds Rates Steady

High-yield money market accounts offered yields up to 4.01% annual percentage yield on May 29, 2026—more than six times the national average of 0.57%, according to the Federal Deposit Insurance Corp. The Federal Reserve left the federal funds rate unchanged through the first five months of 2026, after cutting three times in both 2024 and 2025. The pause has kept deposit rates from rising, but online banks and credit unions continue to offer the most competitive money market rates due to lower overhead costs. Money market accounts remain FDIC-insured up to $250,000 per depositor, distinguishing them from uninsured money market funds. The elevated rates provide a notable spread over conventional savings vehicles, though many high-yield accounts require minimum balances to capture the advertised APY.