0
How is an interest bearing bank account similar to a money market account?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are online money market accounts?
A money market account is similar to a savings account. However, it typically requires a higher balance and offers a higher interest rate. Some accounts also allow check writing from the account, so it is considered a liquid asset.
What are money market accounts?
Money market account is an account that deal with financial matters in the money markets. Money market account usually requires a higher minimum balance or higher rate of interest in order for one to earn interest on the deposit money.
Does Midfirst Bank offer interest bearing accounts and what are their rates?
"Yes, Midfirst Bank offers several business and personal savings accounts at varying rates. The Titanium Money Market Savings account, for example, has an interest rate of up to 0.0548%."
How do money accounts differ from regular savings accounts?
The means of determining interest rate. Money market account interest rates are variable and track the money market. Savings account interest rates are usually fixed.
What is a typical interest rate for a money market account at HSBC?
The typical interest rate for a money market account at HSBC is 3.4% on a savings account, and nothing on the free checking option. This bank has associates that can assist anyone.
What is the meaning of online money market account?
An online money market account is basically putting your bank account online that is invested specifically for market. It would typically have higher interest rates for your savings that a typical bank account would.
What is a money market interest rate?
The money market interest rate fluctuates every day. This refers to how much interest is paid daily to the holder of a type of savings account. The account is usually held by a brokerage house. The holder of the account can withdraw these funds very quickly. This is a popular type of account with both casual and serious investors.
What is the going interest rate for a corporate money market account today?
The going interest rate for a corporate money market account varies from .25% to .70% depending on the exact account you open and the amount of money in that account. Most Money Market Accounts pay at less than 3% currently. For going rates check bankrate.com
What is the function of a money market savings account?
The function of a money market savings account is to earn a higher interest on your balance. Interest is based on current rates in the money markets. A minimum balance is usually required for investment.
What are the advantages and disadvantages of a money market account?
A money market account is like a savings account. The disadvantage is that there will not be much interest or return. The advantage is , subject to the restrictions stated when you open the account, you can quickly get all your money out.
How does the risk of a money market mutual fund compare with that of a savings account?
The risk of a money market mutual fund is similar to that of a savings account. Both are low-risk, slow-growth savings vehicles. Money market funds are viewed as a cash equivalent, similar to a savings account.
Where would one find interest rates for a money market account?
To find money market account interest rates, one would have to contact a bank or broker. That would be the best way to get the best rates currently in effect.
