Evaluating Money Market Interest Rates
Money market accounts can be a great place to keep your money safe, earn interest and maintain flexible access to your funds. When it comes to money market account rates, fees and account terms, it pays to do some research.
Start your search on the Internet with websites that let you compare several money market account interest rates at once. Keep in mind that money market rates are variable, meaning they can move up or down with economic conditions. But be sure not to limit your search to just interest rates. It’s a good idea to take a look at the fees, minimum deposit requirements, and other terms of each account you consider. Once you’ve narrowed your options down, visit the websites of the individual financial institutions offering each account. You’ll get more detailed information and a feel for the usability of the site.
An Ally Bank Money Market Account requires no minimum balance to open and no monthly maintenance fees. Your deposits are FDIC-insured up to the maximum amount allowed by law. You get free standard checks and a debit card and you can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle. We compound interest daily to help your money grow faster and we pride ourselves on providing great customer service in addition to great bank products with competitive rates.