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This article provides the most up-to-date average money market account annual percentage yield, which is 0.49 percent, and insight as to why knowing the average money market account rate is important.
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 come with very low risk, but there have been instances where funds “broke the buck,” meaning their NAV dropped below $1.00, such as during the 2008 financial crisis.
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.
Ally Financial Inc. (known as GMAC until 2010) is a bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease agreements.
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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 ...
MoneyRates.com is a personal finance website that specializes in compiling interest rates for bank products, including savings accounts, money market accounts, certificates of deposit (CDs), mortgages and credit cards. The site also produces feature articles on a variety of personal finance topics.