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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 ...
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 ...
Some money market accounts can offer much higher interest rates than a standard savings account, with rates around 1.35% or even 1.5%. Others can offer less, with rates as low as 0.02% or 0.01%.
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 combine aspects of savings accounts and checking accounts. The primary difference between a money market account and a savings account is how you can access your money.
A money market account is a good idea if you need immediate access to savings from time to time without running to the bank or transferring funds between accounts, a money market account is a good ...
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