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Money market account. Also called a money market savings account, the rate on an MMA can beat those of traditional savings accounts, with the same access to your money.
As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 5% APY.
Money market funds in the United States created a solution to the limitations of Regulation Q, [7] which at the time prohibited demand deposit accounts from paying interest and capped the rate of interest on other types of bank accounts at 5.25%. Thus, money market funds were created as a substitute for bank accounts.
Patriot Bank is one such bank, offering 5.05 percent APY on its online money market account, as of Dec. 23. This is why it’s worth considering money market accounts in your search for yield.
The 7-day SEC Yield is a measure of performance in the interest rates of money market mutual funds offered by US mutual fund companies. It is also referred to as the 7-day Annualized Yield. It is also referred to as the 7-day Annualized Yield.
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 ...
As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 4% APY.
Money market account. Also called a money market savings account , the rate on an MMA can beat those of traditional savings accounts, with the same access to your money. High-yield checking account.
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