Money market accounts are terrific investment vehicles for savvy investors that want a low risk, high yield investment that allows them access to their funds whenever they may need them. Money market accounts offer a way to stash some cash and receive a higher rate of return than your average savings account. If you are searching for a great money market account these are three that can be appreciated for their flexibility, return rate and terms. Investors interested in money market accounts are most certainly looking for the highest yield available. If you are only interested in rates you may want to look elsewhere.
Many investors are finding local credit unions are a wonderful source for great rates. However, the flexibility and availability is limited depending upon an investor’s location. With your local credit union you also need membership. If you don’t qualify for membership you could be out of a great opportunity or resource. For instance, a credit union may have one of the best local APYs for money market accounts. However, because you are not a member or retiree of the Armed Forces you cannot obtain membership.
Did you know? - local credit unions are a wonderful source for great rates
Although the rates today for money market accounts aren’t setting any new records, you can believe you are getting the best rates possible with these online lenders:
Sallie Mae Money Market Account
Student loans are usually affiliated with this lender, but money market accounts are also in their offerings. Sallie Mae has been providing investment products covered by FDIC for a quite some time. Sallie Mae money market accounts have a yield among the highest offered in the country. Easily opened online and managed depositors are very attracted to this lender. No minimum deposits or monthly fees make them very appealing.
In choosing the right money market account, you will need to analyze its flexibility, return rate and terms carefully.
Discover Bank Money Market Account/High Yield Savings Account
Although Discover has named it a high yield savings account it does function as a money market account. Discover Bank high yield savings account or money market accounts can also be opened online. There is a minimum deposit of $500, but their APY matches the highest available in the industry today. After the initial balance of $500, no required balances are required to keep your account or monthly fees to pay.
Flagstar Direct Money Market Account
Flagstar is the third online money market account that makes the list of the top APY returns. You can open a Flagstar Direct Money Market Account for $1. Although based out of Michigan, Flagstar money market accounts can be opened and managed entirely online nationwide.
These are three of the highest yielding, most flexible and available money maet accounts found online today.