Here's how much interest a $15,000 money market account can earn now

MoneyWatch: Managing Your Money Here's how much interest a $15,000 money market account can earn now We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson April 23, 2026 / 3:42 PM EDT / CBS News Add CBS News on Google A $15,000 deposit into a money market account could still be advantageous for savers now. Javier Ghersi/Getty Images When was the last time you took a close look at the interest you've been earning with a traditional savings account? If it was anytime recently and you had a hard time finding it, it's easy to see why. The average interest rate on a traditional savings account sits at just 0.38% now, according to new data released by the FDIC. That's actually lower than it was, after the average rate was 0.39% in March. Needless to say, then, keeping any sizable amount of money in this account is a savings mistake worth avoiding. And with multiple, high-rate alternatives to choose from, it can easily be rectified.This is an important step to take now, though, especially if there's a five-figure amount such as $15,000 at play. By transferring these funds into a money market account, for example, you'll be able to maintain the flexibility of a traditional savings account while earning an exponentially higher rate, thus outpacing inflation and boosting your principal at the same time. With a money market account, in particular, you'll even be able to write checks, streamlining your banking needs in a way that other accounts won't permit. Before jumping in, however, it helps to know the i...