Nationwide Bank Money Market Interest Rates and Reviews
With our current state of economic crisis, many investors are turning away from the stock market and high risk investments, and investing in safer accounts. One of the safest accounts in the industry today is a money market account. Nationwide Bank has a money market account that is definitely worth your time. They are paying a very high and competitive rate of interest along with great customer reviews for their money market accounts.
As at 1 August 2011, Nationwide bank's money market account offers an interest of 1.05%
Money market accounts yields more interest than the average savings account and are very attractive for the safer investment businessperson. They do usually require a much higher minimum balance than a regular checking account. However, along with that difference are several advantages.
The Nationwide Bank money market accounts are wonderful because you have a combination of a high interest bearing account that can be utilized with checking account privileges that generally include a debit card or check card and checks. This allows the investor to save their money when they need it or spend it when they need it, which is wonderful.
Nationwide Bank, Member FDIC, is a federally chartered savings bank. Which means your money is much safer!
Along with having personal money market accounts, Nationwide Bank also receives extraordinary compliments and feedback in money market account reviews from their customers. Nationwide Bank has a very pleasing website with easy navigation and wonderful information on their money market account services.
When an investor is comparing money market accounts to determine the best lending institution for their finances, a money market account is considered a high yielding savings vehicle for your monies. There is generally a higher deposit to open these kinds of accounts. Although you would find a lower opening deposit with your average savings account, the benefit over savings accounts for money market accounts is the higher interest rates available.
The advantage that money market accounts have over certificates of deposit or CDs is access to your money without penalty. Certificates of deposit require the investment to stay until the maturity of your CD. If you withdraw you money before the maturity date, there is a penalty that is assessed. Sometimes that penalty can be very expensive and cost not only your interest earned, but a portion of your principal or expensive fees depending upon the lender. However, your money market account interest is not penalized for withdrawing your money. You will not earn the amount of interest on less money in the account. The more money in your account, the more interest is earned.
Nationwide Bank money market accounts are fantastic for a safer investment vehicle that pays a higher rate of interest.
A money market account also functions like a checking account, but it earns higher interests; a definite bonus for businesspersons!