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Money market accounts (MMAs) can be a great place to store your cash if you're looking for a relatively high interest rate along with liquidity and flexibility.
Unlike traditional savings accounts, MMAs typically offer better returns, and they may also provide check-writing privileges and debit card access. This makes these accounts ideal for holding long-term savings that you want to grow over time, but can still access when needed for certain purchases or bills.
The national average interest rate for money market accounts is just 0.66%, according to the FDIC. However, the best money market account rates often pay around 4.5% to 5% APY — similar to the rates offered on Read Entire Article
