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You may already know the basics of a money market account and a CD. Money market accounts are variable interest-bearing deposit accounts that blend some characteristics of checking and savings ...
Money market account vs. a CD. A CD is a type of time deposit account. When you open a CD, you select a term for the account and must keep your money in the account for the full term. If you make ...
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 flexible access to your money. Higher-risk ...
Similar to traditional savings accounts, the APY for money market accounts can vary a great deal. Online-only banks tend to offer higher rates than brick-and-mortar banks because they don’t have ...
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.
savings accounts and money market deposit accounts (MMDAs, i.e., higher-interest savings accounts subject to check-writing restrictions) time deposits including certificates of deposit (CDs) outstanding cashier's checks, interest checks, and other negotiable instruments drawn on the accounts of the bank; accounts denominated in foreign ...
Compared to a certificate of deposit (CD), a money market account offers more flexibility because you can access your money without penalty, whereas a CD requires you to leave your money untouched ...
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.