When making investments in money markets for 2009, it can sometimes be difficult to decide which is best to go with. Many investors follow the rate fluctuations to determine which will work best for them - the higher the rate offered, the better.
The good news with money markets is that they are typically stable, which is why investors with low risk appetites love them. So which are the best? We will look at which financial institutions have had the most consistently favorable rates offered so far in 2009.
Corus Bank
As of the end of June, Corus Bank was the leader in money market rates with a return percentage of 2.09%. It has held the lead numerous weeks, offering consistently high return averages.
Discover Bank
Discover Bank has also been in the top running for offering better rates during this year. Recently, it has held a position of around 2.00% for returns.
Other Accounts
Some other accounts that have fared well in reference to returns include Nationwide Bank, BankUSA, Quantum National Bank, AmTrust Direct, and Ally Bank, which have all maintained positions recently in the 1.85% to 2.00% range. However, it's important to remember that when you look at money market rates, you need to consider the amount of deposit.
For instance, Metro Phoenix Bank recently offered a competitive rate of 2.53%; however, this amount requires at least a $100,000 investment. If you're investing under $25,000, the rate of return is only 1.26%.
Because rates fluctuate and new accounts win over others from week to week, it's difficult to assign a true "best" account. But with a little research - and intuition - you can find the best money market for you; the one that will give you the consistent return you desire.
Do you want to find the best 2009 money market account rates? If so, Go Banking Rates has them.
