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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.
A money market account (MMA) is a type of high-yield account that combines high rates of return on your money with a few limited, but useful, benefits of a checking account. These safe, stable ...
A money market account could be ideal if you want liquidity coupled with generous earning potential to meet your financial goals. If you have funds to invest at any time, a money market fund may ...
A money market account is an interest-bearing account you can open at banks and credit unions. Like a savings account, they are a type of deposit account for savers, But a major difference between ...
The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less. As short-term securities became a commodity, the money market became a component of the financial market for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.
Money market funds in the United States created a solution to the limitations of Regulation Q, [7] which at the time prohibited demand deposit accounts from paying interest and capped the rate of interest on other types of bank accounts at 5.25%. Thus, money market funds were created as a substitute for bank accounts.
A money market account, or MMA, is a type of bank account that combines many of the features of checking and savings accounts. Like a savings account, money market accounts pay interest on the ...
When you make a deposit in a money market account, it does more than just sit there. It grows. The average money market account rate is currently 0.48 percent, according to Bankrate data. Make ...