Capital One Money Market Account Rates and Reviews
With the many uncertainties in the global economy, more people are looking for low risk investments.
With the world economy in turmoil, many people are looking for safe alternatives as investments, other than the stock market. At present, the stock market is a bit of a risk for many investors that want to see their finances returning at a safe rate with minimal risk. One investment that can provide a nice rate of return with almost no risk is the money market account. Capital One is a lending institution that is providing their customers a terrific interest rate.
Money market accounts are attractive to investors for several reasons. Firstly, unlike a savings account, money market accounts pay a higher rate of interest. In addition to a higher rate of interest, money market accounts act like a large checking account. You can write checks and use a debit or check card to withdraw your monies when you need access. However, remember the less you have, the less the return on your cash in interest or APY.
With Capital One they are offering more than one type of money market account for investments.
- a high yield money market
- rewards money market
- business money market
Capital One offers their money market customers free online transfers as well as a free ATM card, no minimum balance and free checks. Without monthly fees you are receiving more than a checking or money market account combined all for the price of nothing.
The High Yield Money Market is for the personal investor seeking a wonderful return on their finances in the money market realm of investing. Capital One money markets are paying a competitive rate of interest comparable with any other lender found in the industry.
Capital One offers three kinds of money market account: high yield, rewards, and business.
Rewards Money Market accounts are one of the most popular. With the Rewards Money Market account, each time interest is earned, reward points are earned. You can redeem your reward points for multiple choices that include travel, cash and so much more. One mile of rewards is earned for every $20 earned in interest.
When you open an account with a minimum of $500 you’ll automatically accumulate 2500 bonus miles. Other rewards are additional 500 per month for each $10,000 in balances you keep for the month. If you deposit additional money, you will earn additional rewards. For example, you can receive 2500 bonus miles for each additional $500 you deposit in a month.
Business Money Market accounts are ideal for the smaller businessman. Opening an account is as easy as depositing one dollar. Interest is earned on any amount you keep in your business money market account.
All accounts are insured by the FDIC up to $250,000. This makes any investor feel that their finances are safe and secure while earning a nice rate of interest.