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Banks have been paying out higher interest rates amid intense competition for deposits to prevent customers from fleeing to lucrative alternatives such as money market funds. BofA's net interest ...
The average money market interest rate as of Oct. 16, 2023, was just 0.65% but you can find higher rates if you do some research. For instance, you can open a jumbo money market account and earn ...
This compares to the 0.01% APYs some of the biggest national banks like Chase and Bank of America pay. ... high-rates with rolling returns while interest rates are strong. Money market account. ...
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.
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.
Some of the banks with the highest money market rates right now include Brilliant Bank, Vio Bank, and UFB Direct. Rates are subject to change; unless otherwise noted, rates are updated ...
Last month, the Fed joined a slew of central banks in easing monetary policy. That's led the market to assume rates will fall to pre-pandemic lows, BofA's Bernard Mensah says.
Here are a few places to start when comparing money market accounts for the best MMA rate: Vio Bank — 5.30% APY; $100 minimum deposit. UFB Direct — 5.25% APY; no minimum deposit.