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Money market accounts have gained popularity over the past few years as interest rates have risen across all deposit accounts. The most competitive rates surpass a 4 percent annual percentage ...
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 ...
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 ...
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 ...
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 amount of money you can put into a money market account generally varies based on the financial institution. Some banks don't limit how much you can store in a money market account.
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