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Yes, many money market accounts have minimum balance requirements, either to open the account, earn interest or avoid fees. With some banks, the minimum balance requirements are higher for a money ...
Here are a few places to start when comparing money market accounts for the best MMA rate: Vio Bank — 5.30% APY; $100 minimum deposit. UFB Direct — 5.25% APY; no minimum deposit. CFG Community ...
Axos Bank: High Yield Money Market. Why it stands out: The Axos Bank High Yield Money Market account has no monthly fees and a 0.25% annual percentage yield. Plus, the minimum balance to earn that ...
Most money market accounts have fairly low minimum balance requirements – as little as $0, in some cases. However, capitalizing on the interest rate that initially grabbed your attention might ...
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
Money market accounts may have higher minimum balance requirements. With a money market account, you can also get checks and/or a debit card. It’s less common for a savings account to come with ...