Are you looking for the best money market interest rates? Use our online comparison chart to help you find the best money market accounts to work with. These accounts give you a higher interest rate than what you will get with a traditional savings account and other investments. How can you find an account that will work well for your financial situation? Here are some tips that will help you to find the best money market account.
Chapter 1. Tip # 1 – Compare Rates
One of the first things you need to do is look at the money market rates. It helps to use the comparison charts as they will offer you updates to the rate chart each day. This makes it much easier on you to do your research and to find the money market account with the best rates.
Chapter 2. Tip # 2 – Deposit Amount
How much money are you planning to invest into the money market account? This is another thing to consider as you need to look at the opening deposit amount as some accounts will end up paying you more money if you will invest a certain amount to open the account. Usually if you invest at least $10,000 you will be able to qualify for the highest interest rates.
Chapter 3. Tip # 3 – Investment Amount
Can you invest a lot of money into the account each month? The more you deposit the more money you will earn. A great way to earn more is to set up an automatic transfer to the money market account this way you don’t need to worry about transferring the money.
Chapter 4. Tip # 4 – Go Online
The best money market interest rates are typically found online. Use our online rate comparison charts to see which online banks are going to offer the best rates to help you grow your investment. When you are comparing the online banks, you need to compare the fees on the account as well as it could end up negating the amount of money you are able to earn in interest. Check to ensure the bank is insured by the FDIC in order to know that your investment will be safe and secured.