Money market account rates are controlled by the Federal Reserve, which means the rates are subject to change often. Using a money market interest rate calculator you can find out which banks are offering the best rates along with understanding which banks have lower fees on the account. Money market accounts give you a great opportunity to save your money as they are able to provide you with a higher interest rate than what you will get on a traditional savings account along with many other … [Read more...]
Earning Money With A Money Market Account
Are you back and forth on opening a money market account? There are a lot of people that are searching for higher interest rates on their savings accounts but they just do not know where to turn. A money market account is a great option to consider exploring as you can easily earn a higher interest rate from a traditional savings account offered by your local bank. Money Market Account Definition So what is the official definition for a money market account? It is an account where you will put … [Read more...]
What Are Money Market Funds?
Money market funds provide you with a great way to save money for your short-term or long-term investment needs. A money market fund is different from a money market account as the money in a fund will be used to invest it into low-risk securities. Why do many people turn to money market funds when they are looking to grow their money? The biggest reason is due to the low-risk investment that these funds provide you with but the downside is that they are not backed by the FDIC. Money Market … [Read more...]
High Yield Money Market Accounts 2011
High yield money market accounts provide investors with a way to set aside money for emergency needs and to earn a higher interest rate than you will get with a traditional savings account. In the past the interest rates on high yield money market accounts were close to 5% but now it is hard to find anything that is close to 2% as most are less than 1.5% or even 1%. Comparing current money market rates will help you to see what type of options you have and how much the interest rate’s currently … [Read more...]
