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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.
MoneyRates.com is a personal finance website that specializes in compiling interest rates for bank products, including savings accounts, money market accounts, certificates of deposit (CDs), mortgages and credit cards. The site also produces feature articles on a variety of personal finance topics.
Meriwest Credit Union is an American member owned, not-for-profit credit union located in San Jose, California. The credit union offers financial services to communities in the Greater San Francisco Bay Area. As of 2023, Meriwest Credit Union had over 80,000 members and $2.2 billion in total assets. [1]
Note: Annual percentage yields (APYs) shown are as of Feb. 13. Bankrate’s editorial team validates this information regularly, typically weekly. APYs may have changed since they were last ...
A money market account is a type of interest-bearing account that combines the strong rates of a high-yield savings account with the features of a checking account. MMAs offer rates of 4.5% APY or ...
The overnight market is the component of the money market involving the shortest term loan. The overnight market is primarily used by banks and other financial institutions. Lenders agree to lend borrowers funds only "overnight", i.e., the borrower must repay the borrowed funds plus interest at the start of business the next day. [1]
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.
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 ...