Money market
A money market account is a deposit account offered by banks that invest in government and corporate securities. They pay interest based on current interest rates in the money markets.
Money Market Rates differ from bank to bank but they are usually higher than those paid by traditional saving accounts, because they require a higher minimum balance in order to earn interest. Investing in money market account is similar to a money market fund offered by a brokerage. This is considered almost as safe as savings.
Categories: Interest rate, Market