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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.
Pros of money market accounts. Money market accounts are interest-accumulating accounts you can open at a bank or a credit union.What differentiates these accounts from other savings accounts is ...
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.
A money market fund (also called a money market mutual fund) is an open-end mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. [1] Money market funds are managed with the goal of maintaining a highly stable asset value through liquid investments, while paying income to investors in the form of ...
A money market account is a good idea if you need immediate access to savings from time to time without running to the bank or transferring funds between accounts, a money market account is a good ...
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 way to earn high yields on your savings ...
A money market account is a savings tool that combines competitive interest rates with greater flexibility than traditional savings accounts. Money market accounts generally offer additional ...
Money market accounts combine the features of checking and savings accounts and are FDIC- or NCUA-insured. Money market funds aren’t federally insured or regulated, but can still be a safe place ...