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This article provides the most up-to-date average money market account annual percentage yield, which is 0.49 percent, and insight as to why knowing the average money market account rate is important.
Money market. 0.66%. 0.60%. Up 6 basis points. 1-month CD. 0.23%. 0.23%. No change. 3-month CD. 1.50%. ... the country’s central bank. This Fed rate is the benchmark that affects interest rates ...
A money market account functions like a souped-up version of a savings account at your bank, offering higher interest rates while keeping your cash secure through insurance from the Federal ...
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.
The site was founded in 1999 by Clark Schultz and has been frequently cited by major news outlets, including the Wall Street Journal, [1] the New York Times [2] and MSN Money. [3] Site features include its America's Best Rates series, a quarterly survey of bank interest rates, and its annual Best and Worst States for Retirement articles.
A money deposit at a banking institution that cannot be withdrawn for a preset fixed 'term' or period of time and will incur penalties for withdrawals before a certain date. When the term is over it can be withdrawn or it can be rolled over for another term. Generally speaking, the longer the term the higher the interest rate offered by the bank. 5
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