A naukri.com initiative
Forbes
4w
8
Image Credit: Forbes
Money Market Interest Rates Today: June 18, 2025 – Rates At 4.89%
- The current average money market rate is 0.53%, with the highest rate at 4.89%.
- A money market account (MMA) is an interest-bearing deposit account offered by banks and credit unions, allowing deposits and earning interest.
- Money market accounts typically offer higher interest rates than other deposit accounts and allow withdrawal of funds with some limitations.
- MMAs often come with added benefits like debit cards and check-writing capabilities for convenient access to cash.
- MMAs at banks are insured by the FDIC, while those at credit unions are insured by the NCUA, with coverage up to $250,000 per account type.
- When opening a money market account, compare yields, ensure you meet minimum requirements, consider fees, withdrawal limits, and other features.
- To open an account, apply online or at a branch, providing personal information, a government-issued ID, and making the minimum required deposit.
- Money market accounts combine features of savings and checking accounts, offering the ability to earn interest and make transactions.
- Today's money market rates provide an opportunity for investors to earn more on their deposits.
- Generally, money market accounts are a secure option for holding funds with the added benefit of earning interest.
- With appropriate research and considerations, individuals can find the best money market account that suits their financial needs.
- Money market accounts are a practical option for those looking to earn higher interest while maintaining access to their funds.
- The process of opening a money market account involves comparing rates, meeting requirements, and submitting an application for approval.
- Money market accounts offer flexibility and convenience, combining the benefits of savings and checking accounts.
- Being insured by FDIC/NCUA, money market accounts provide depositor protection up to $250,000 in case of bank failure.
- Interest rates on money market accounts can vary, so it's essential to research and select an account that offers competitive rates and terms.
Read Full Article
Like
For uninterrupted reading, download the app