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Money market accounts (MMAs) tend to offer a high annual percentage yield (APY) while giving you easier access to your money than you’ll have with a traditional savings account. Some of the best MMA accounts have an APY of 4% to 5%. In comparison, the national average is around 1%. Money Market Accounts Money Market […]
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A money market account could offer a great way to grow your savings without sacrificing liquidity. Interest rates are typically much higher than with traditional savings accounts, and you’ll have easy access to your money. The best time to open a money market account is when interest rates are high and the account’s features align
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Money market funds are mutual funds that focus on short-term, low-risk investments. They could lead to better returns than you might have with savings accounts or similarly named money market accounts—especially when interest rates are on the rise. But like any investment, they aren’t risk-free. Consider these pros and cons before investing in money market
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Money market accounts are interest-yielding bank accounts known for their liquidity. They provide easy access to your money while your balance earns interest in the background—sort of like a checking and savings account in one. These traits make money market accounts ideal for short-term savings goals. You can add money on a rolling basis with
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Keeping your emergency savings in a money market account offers a list of benefits that can be hard to find in other types of accounts. Money markets are an interest-earning hybrid of checking and savings accounts. Most money market accounts pay higher interest rates than regular savings and provide debit cards or checks so you
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Money market accounts combine the best features of savings and checking accounts. They allow you to earn interest and grow your money over time like a savings account while offering the flexibility to write checks, similar to a checking account. And like other deposit accounts, money market accounts are insured by the Federal Deposit Insurance
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There’s nothing wrong with a basic savings account, but if you’re looking for a way to take advantage of current high interest rates on savings, it may be worth opening a money market account. A money market account is a type of deposit account, sometimes called a money market savings account, commonly found at banks
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