Best Money Market Account Interest Rates As of Jan. 21, 2025, the national average rate for money market accounts was 0.64%, according to the FDIC. One of the best high-yield savings accounts might offer higher APYs. What Is a Money Market Account? A money market account is a type of...
Interest Rate % Compound Frequency: Calculate PRO TIP: Currently, one of the money market account is with this FDIC insured bank at an impressive 4.40% APY APY. Find out more Money market accounts often earn higher interest than traditional savings accounts, making them a strong contender ...
Money Market Account Get cash on the go and earn interest while you’re at it Open an Account Earn interest with a high interest rate account while still being able to access your cash via ATM, debit, or checks. Welcome to the Money Market life....
High Interest Money Market Accounts The more money you have to invest in money market accounts, the higher the return you will be able to get on your savings. Shopping for money market accounts, rather than accepting the ones offered by your local bank, can often lead you to high yield mo...
Money market accounts and checking accounts are both used for storing and accessing funds but have distinct features and benefits. Money market accounts typically offer higher interest rates than checking accounts but may have limited monthly transactions and higher minimum balance requirements. Checking ...
A money market account is a type of savings account that earns interest. It functions like most savings accounts you can find at a bank or credit union. You put money in, then withdraw funds when you need them. Money market accounts may also offer a competitive interest rate, so your fun...
Money market account vs. money market mutual fund: How they differ Money market accounts are bank products that offer higher interest rates than atypical savings account. They are available through mostbanks and credit unions, and insured by theFederal Deposit Insurance Corporation(FDIC) or by the...
Money market accounts, also known as money market deposit accounts, arefederally insuredliquid bank accounts. They pay interest on your deposit, but your interest-earning potential varies depending on your bank. Thetop-yielding money market accountscurrently pay APYs greater than 5 percent, while the...
Banks use funds from savings accounts to lend to other consumers via car loans, lines of credit, and credit cards. Money market accounts may pay a higher interest rate than traditional savings accounts because banks invest in short-term, highly liquid, low-risk assets with the funds. Many mo...
When overall interest rates are higher, as they were during the 1980s, 1990s, and much of the 2000s, the gap between the two types of accounts will be wider. Money market accounts can offer higher interest rates because they're permitted to invest incertificates of deposit (CDs), governmen...