Search results
Results from the WOW.Com Content Network
If you make an early withdrawal, you have to pay a penalty. Money market accounts are more flexible, allowing deposits and withdrawals at any time, though with some limitations on the number of ...
An early withdrawal penalty on a five-year CD may range from 150 days to 540 days. But these penalties may vary. ... but most banks have kept the savings and money market account limitation in place.
A money market fund (MMF) is a mutual fund that pools money from many investors to buy safe short-term investments like government bonds and high-quality corporate loans. Money market funds aim to ...
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.
Restrictions on withdrawals: While you might write checks or use a debit card to move money out of your money market account, there are limits because these accounts are not primarily built for a ...
A money deposit at a banking institution that cannot be withdrawn for a preset fixed 'term' or period of time and will incur penalties for withdrawals before a certain date. When the term is over it can be withdrawn or it can be rolled over for another term. Generally speaking, the longer the term the higher the interest rate offered by the bank. 5
A time deposit or term deposit (also known as a certificate of deposit in the United States, and as a guaranteed investment certificate in Canada) is a deposit in a financial institution with a specific maturity date or a period to maturity, commonly referred to as its "term".
Alternatives to a money market account. A money market account is a secure, low-risk way to plan for a family holiday, save toward retirement or build an emergency fund, but it isn’t the only ...