In today's high interest rate climate, there is no shortage of attractive savings accounts to choose from. Certificate of deposit (CD), high-yield savings and money market accounts all come with interest rates around 4% right now. But only one of these three will allow you to maintain the accessibility you've been used to while streamlining your banking needs under one umbrella – the money market account. Unlike a CD, you won't have to lock your money into the account to earn a competitive rate. And unlike a high-yield savings account, you'll be able to write checks and pay for expenses thanks to the check-writing features many money market accounts offer.

So, if you're looking for a secure, flexible and profitable home for your money right now, a money market account could be the one to explore. And that's especially true when dealing with a large, five-figure amount such as $35,000. If you're not going to invest that money into stocks, bonds or real estate then you'll want to make sure that the earnings you can secure with a money market account will be worth it. But will they be? Below, we'll calculate the returns that savers should know before shifting any money into this unique account type.

See how much interest you could be earning on your money with a top savings account here.

Here's how much interest a $35,000 money market account can earn now

Money market accounts have variable interest rates that will adapt to market conditions. While that may make long-term interest-earning projections difficult to complete with precision, the latest Federal Reserve interest rate pause announced on Wednesday implies that higher rates will endure for longer. So while the following earnings will change over time, they're unlikely to do so substantially. 

Here's how much a $35,000 money market account will earn over the next year, calculated using today's top rate, four different periods and the assumption that the rate will remain constant through June 2027:

• $35,000 money market account at 3.90% after three months: $336.37
• $35,000 money market account at 3.90% after six months: $675.97
• $35,000 money market account at 3.90% after nine months: $1,018.84
• $35,000 money market account at 3.90% after one year: $1,365.00

Savers can earn around $340 with a money market account of this size by September or more than $1,300 if they keep it in the account through next June. Just understand that these rates and returns can change based on market conditions. However, if you add more money to the account, your returns here could increase, too. So, if you want to earn a big return on your money, don't want to have to give up access to earn it and want to streamline your banking needs, a money market account could be the one to open now.

Get started with a high-earning savings account online today.

The bottom line

A $35,000 money market account can result in a return ranging from $337 to $1,365 for savers now, approximately. But the elevated earnings are just one benefit of this account type as accessibility and flexibility to use it for both savings and checking are also critical. Consider shopping around online, then, to find an account with a competitive rate and terms that work for your needs. With online marketplaces listing rates, lenders and terms all in one easy-to-navigate location, you can get started with an account quickly.