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Axos Bank: High Yield Money Market. Why it stands out: The Axos Bank High Yield Money Market account has no monthly fees and a 0.25% annual percentage yield. Plus, the minimum balance to earn that ...
Compare current money market account rates for March 2024. Vio Bank — 5.30% APY. UFB Direct — 5.25% APY. CFG Community Bank — 5.25% APY. Quontic Bank — 5.00% APY. Sallie Mae Bank — 4.65% ...
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 5% APY.
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.
As with a traditional savings account, your deposits are insured up to $250,000 per depositor, per bank, ... Benefits of a money market account. High rates of return.
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.
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