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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.
Money market accounts are a great option if you're looking to maximize the amount of interest you can earn in a low-risk setting. You'll have easy access to your money, your account is insured up ...
A money market account works like your typical savings account: You deposit money into your account, and your deposit attracts an interest rate that compounds daily or monthly.
Money market funds aim to maintain a price of $1 per share, and even in the most tumultuous of market environments — such as the 2008 financial crisis and the 2020 pandemic-induced sell-off ...
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.
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 ...