The money market account rates can change depending on the bank you choose to invest your money in. Finding the best rates can seem overwhelming, especially since we all want to make the most money we can off our own money.
Rates for Money Market Accounts
When you put your money in a money market account, you are allowing the banks to use your money for other loans including loans for cars, homes and small businesses. By investing in a bank that is FDIC insured you are guaranteed your money will be protected by the government if the bank fails. It is a safe way to invest your money while still gaining some interest. The money market account rates are currently just above 1.00 percent according to the money market rate chart.
A money market account is similar to a savings account, but provides you with an easier way to access your money. Even the best money market accounts don’t allow the same freedom to withdraw money like a checking account does. A money market account is set up to help you save your money, so limited withdrawals is a good way to ensure you actually save money!
There are numerous banks wanting your business. They all try to offer the best money market account rates. Take a look at the money market rates chart, and you can easily see what interest rates different banks offer to help you decide which bank will be the best for you. If you have money lying around your house, why not put it into a money market account to gain interest while you don’t need it.