Money Market Account
Low Risk Interest Bearing account that typically pays a higher savings rate than a savings account
Simple Definition:
Low Risk Interest Bearing account that typically pays a higher savings rate than a savings account
Low Risk Interest Bearing account that typically pays a higher savings rate than a savings account
- Shot term
- Highly Liquid
- May invest in a variety of short-term, liquid securities (typically one year or less)
- Often require a higher minimum balance than banks accounts and restrict the number of withdrawls
- Less liquid than a checking account, but more liquid than bonds.
- Often invest in
- Often offer check writing ability
- Typically is FDIC insured