Understanding Money Market Accounts (MMAs)

Money market accounts are a type of savings account that typically offers higher interest rates than traditional savings accounts. They often come with added features like check-writing capabilities (though this varies by institution), debit cards, and online access. However, it’s crucial to understand that while they offer better returns than standard savings, they generally don’t match the potential growth of investments like stocks or bonds. MMAs are known for their safety and liquidity, making them ideal for emergency funds or short-term savings goals.

Factors Influencing MMA Interest Rates

Several factors influence the interest rates offered