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A money market account is a type of interest-bearing account that combines the strong rates of a high-yield savings account with the features of a checking account. MMAs offer rates of 4.5% APY or ...
Like a savings account, money market accounts pay interest on the account’s balance. In some cases, the interest rate will increase as your balance increases. ... You can withdraw money from ...
Pros of money market accounts. Money market accounts are interest-accumulating accounts you can open at a bank or a credit union. What differentiates these accounts from other savings accounts is ...
For example, if you keep $25,000 in emergency savings, a money market account earning 4.00% APY would generate about $1,000 in annual interest while letting you write checks and withdraw funds you ...
You can earn interest: Right now, the best money market accounts pay around 4 to 5 percent annual percentage yield (APY), even outpacing inflation. Deposits are insured: Your money is insured for ...
The FDIC is an independent agency of the U.S. government that insures savings accounts, certificates of deposit, money market accounts and other deposit accounts for up to $250,000 as a way to ...
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