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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.
But there are a few key differences. Money market accounts may have higher minimum balance requirements. With a money market account, you can also get checks and/or a debit card; it’s less ...
Key takeaways. Money market accounts combine the features of checking and savings accounts and are FDIC- or NCUA-insured. ... Money market funds aim to maintain a price of $1 per share, and even ...
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.
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.
The money market equilibrium diagram. The LM curve shows the combinations of interest rates and levels of real income for which the money market is in equilibrium. It shows where money demand equals money supply. For the LM curve, the independent variable is income and the dependent variable is the interest rate.
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