Money Market Accounts

Money Market Savings Accounts

The Basics

Money markets are a type of interest-earning savings account that allow you a limited number of transfers or withdrawals each month. The interest rate you receive on a money market account depends on the amount of your initial deposit and the balance maintained in the account.



The Benefits

  • Money Markets are FDIC-insured (up to $250,000 in aggregate per customer)
  • Money Markets combine the advantages of an interest-earning savings account with the flexibility of a checking account
  • Money Markets offer higher interest rates than many other types of savings accounts

What to Consider

  • Money Markets have minimum balance requirements
  • Money Markets limit the number of balance transfers you can make each month
  • Money Markets limit the number of checks you can write against your account each month
  • Money Markets do not have fixed interest rates
  • Money Markets require a minimum deposit to open an account
Money Market Rates Open a Money Market account