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A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
Money market accounts are a great option if you're looking to maximize the amount of interest you can earn in a low-risk setting. You'll have easy access to your money, your account is insured up ...
A money market account works like your typical savings account: You deposit money into your account, and your deposit attracts an interest rate that compounds daily or monthly.
Accessibility: Unlike money market accounts, or many savings accounts, money market funds don’t offer ATM and check writing access. Finding the most liquid fund may be an important concern for ...
A money market account that earns a high yield and provides easy access to your cash can be a good place to set aside money for an emergency fund or your next big planned expense.
Money market funds now manage more than US$3.0 trillion, serving tens of millions of investors. [ 1 ] [ 2 ] In the book One Up on Wall Street , published in 1989, Peter Lynch wrote that "there ought to be a monument to Bruce Bent and Henry B.R. Brown " in regards to their role in inventing the money market fund. [ 3 ]
The money market is a component of the economy. Money market may also refer to: Money market account, a type of bank deposit account; Money market fund, a type of mutual fund; Qianshi Hutong in Beijing, also known as the Money Market
Compared to a certificate of deposit (CD), a money market account offers more flexibility because you can access your money without penalty, whereas a CD requires you to leave your money untouched ...