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Money Market Account Rates Deal of the Day: Omaha State Bank at .85% APY

Money Market Account Rates Deal of the Day: Los Angeles Federal Credit Union at 1.30% APY

Money Market Account Rates Deal of the Day: Huron Valley State Bank at .75% APY

Money Market Rates Deal of the Day: Harris Bank at .65% APY

Money Market Account Rates Deal of the Day: 1st Commonwealth Bank of Virginia 1.75% APY

Money Market Rates Deal of the Day: Tulsa Teachers Credit Unions at 1.35% APY

Money Market Account Rates Deal of the Day: The Valley State Bank at .90% APY

Money Market Account CD Rates Deal of the Day: Marisol Credit Union at .55% APY

Money Market Account Rates Deal of the Day: Kaiser Federal Bank at 1.05% APY

Money Market Account Rates Deal of the Day: Plains Capital Bank at .50%

Learn More About Money Markets Accounts

Money market accounts are similar to checking accounts, but they allow consumers the opportunity to make returns on deposited money. They are often compared to mutual funds; however, they are considered safer because they keep share prices at $1.

Money market accounts can be acquired through almost any local financial institution. As with checking accounts, opening money market accounts give you immediate and regular access to your funds through a checkbook. Also, they require no minimum transaction amount and allow for fast and easy cash deposits.

Once you invest in a money market account, a money manager will take your cash then invest it in t-bills, bonds, CDs, commercial papers or mutual funds. After interest is earned on your investment, the manager pays you your portion of the earnings. Unlike CDs that have interest rates that mature over time, money market accounts require additional deposits to benefit from higher interest returns.

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