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More than half of savers (51 percent) have a savings or money market account with an online bank, according to Bankrate’s Saving Account Survey. The median balance for transactional accounts ...
A money market account is a type of interest-bearing account that combines the best of a high-yield savings account with the features of a checking account. MMAs offer rates of 4% APY or higher ...
Interest Rate. Money market accounts are often thought to earn higher interest rates than savings accounts, but that’s not always true. At traditional banks, money market accounts can earn ...
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.
High-yield savings accounts and money market accounts are both safe, stable spots for storing your money and growing your savings — at more than 10 times the 0.46% national savings average you ...
Both money market and savings accounts are FDIC insured up to $250,000 per account holder, per account type. If you have a joint account, your funds are protected up to $500,000.
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