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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 ...
Money market accounts (MMAs) Money market funds (MMFs) Provider. Banks and credit unions. Investment firms and brokers. Insurance. FDIC or NCUA up to $250,000. SIPC up to $500,000. Minimum deposit.
And many of those accounts offer higher rates than Fifth Third Bank’s money market account. We explore some of the top-tier money market accounts below. Ally Bank Money Market Account
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.
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 ...
How to open a money market account: 5 steps to take. Karen Bennett. February 19, 2024 at 9:20 AM. Portions of this article were drafted using an in-house natural language generation platform.
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