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A money market account is a deposit account that allows you to earn interest on your balance. Your money remains readily accessible, although your financial institution may limit transactions and ...
Money market accounts advertise annual percentage yields (APYs), which shows your total yearly return including compound interest – when you earn interest on your previous interest. For example ...
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 money market account offered by Ally Bank is an example of an FDIC-insured money market account. The account earns a competitive yield, and it also comes with a debit card and checks.
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 ...
A money market account covered by FDIC insurance is protected up to $250,000 per depositor, per insured bank for each account ownership category, according to the FDIC.
Money market accounts, on the other hand, are traditional, interest-earning deposit products that are federally insured as long as they are deposited at an FDIC-insured institution. They are ...
You can earn interest: Right now, the best money market accounts pay around 4 to 5 percent annual percentage yield (APY), even outpacing inflation. Deposits are insured: Your money is insured for ...