Should I open a Money Market Savings account or general Savings account?

Should I open a Money Market Savings account or general Savings account?
by

1 Answer

Answer :

Stay away from Monkey markets; otherwise the interest on a conservative (Vanguard.com) money market fund is about 0.17%. Pathetic, but at least your principal is safe and if the feds raise the prime rate anytime, the interest rates for MM and bond funds will rise. The bank will show you the comparative interest rates on the three types of funds. Check to see what the minimum starting deposit is. Here is a list of some banks that are paying slightly higher rates ($16.90 vs. $2.40/annum).
by

Related questions

How can one register an account on Qihoo 360 Yunpan?

Description : How can one register an account on Qihoo 360 Yunpan?

Last Answer : Get a local Chinese cell number. Otherwise, you can’t. Pretty simple really.

Which bank account is the best in Czech Republic?

Description : Which bank account is the best in Czech Republic?

Last Answer : answer:Raffeisen Bank (sp?) seemed pretty good. I was there just under a year and I had an account at this bank. I had no complaints. You’re not likely to find the gimmicky promotional account options that are so popular in the US.

Is there any possible way to enter facebook account whose private?

Description : Is there any possible way to enter facebook account whose private?

Last Answer : what view someones account that is set to a private and your not friends with?

Does anyone else have a Twitter account?

Description : Does anyone else have a Twitter account?

Last Answer : My buddy got me going on Twitter, and now that I use it I really enjoy it. If you start using it maybe that will be enough to prompt your circle of friends.

Does the account holder have to be present?

Description : Does the account holder have to be present?

Last Answer : I would think they would. A mobile phone contract is a credit agreement and no one should let you sign one for somebody else.

How do I add topics to my profile?

Description : How do I add topics to my profile?

Last Answer : Just looked at my profile and I don't see a way to add. You can remove or make private the ones you have but I don't see an add function. They were mainly used to feed you questions in the ... which doesn't work either but they're also nice when you want to see what someone else is interested in.

Where did bean go?

Description : Where did bean go?

Last Answer : I don’t know where she went. I would not take it personally, however.

Does anyone have a FFFFound! invite for me?

Description : Does anyone have a FFFFound! invite for me?

Last Answer : This question never gets more than three responses.

How do i change my picture on Ask-public?

Description : How do i change my picture on Ask-public?

Last Answer : Click on Edit Profile. Click on Edit Image. Choose another or follow the instructions to upload your own.

Hotmail on iPod Touch?

Description : Hotmail on iPod Touch?

Last Answer : Go to http://mobile.msn.com then click on Hotmail(top left), then just log in from there OR, go directly to the hotmail (mobile) site which is http://mobile.live.com

What is the difference between a savings and a money market account?

Description : What is the difference between a savings and a money market account?

Last Answer : Vanguard Money Market Funds pay better interest than most savings accounts; plus they offer the convenience of check-writing privileges. Check out vanguard.com for your state; If you are interested in long- ... rates for savings and CDs. Capitalone has a good MM rate if you use their Master Card.

How is a money market savings account different than a regular savings account Can I make more money in it?

Description : How is a money market savings account different than a regular savings account Can I make more money in it?

Last Answer : A simple savings account generally pays the owner a set amount of stated interest on his or her deposits based upon an particular annual rate. Money market savings accounts typically require higher balances ... rate. Both kinds of accounts are guaranteed in the United States by the FDIC and NCUA.

Is the yield for a Chase money market savings account high?

Description : Is the yield for a Chase money market savings account high?

Last Answer : The yield for the Chase money market savings account is in line with the National average.You will find the highest rates with online accounts like www.DiscoverBank.com

IF TCF CLOSES A CHECKING ACCOUNT CAN YOU OPEN ANOTHER ACCOUNT WITH WHETHER IT BE SAVINGS OR CHECKINGS?

Description : IF TCF CLOSES A CHECKING ACCOUNT CAN YOU OPEN ANOTHER ACCOUNT WITH WHETHER IT BE SAVINGS OR CHECKINGS?

Last Answer : They will likely deny your checking account application. You may be able to open a savings account with them.

Should I open both a checking and a savings account, or is one better than the other?

Description : Should I open both a checking and a savings account, or is one better than the other?

Last Answer : Having both a checking and savings account is often a good idea. A checking account is designed to help you deal with the cash inflows and outflows to run your life (writing checks, ATM/cash cards, ... from the one you use for your regular expenditures (you will be less likely to spend it!).

Where can I find instructions explaining how to open a savings account?

Description : Where can I find instructions explaining how to open a savings account?

Last Answer : There are many places to open a savings account. One of the best places is Chase. It has great return on your money. It gives you a high interest throughout the years.

How To Open A Savings Account?

Description : How To Open A Savings Account?

Last Answer : In times when money is tight, it is important to make use of a savings account. It is definitely not uncommon for a person to live paycheck-to-paycheck and not have enough left over for a potential ... financial stability. You will be amazed at how much money you can save with this type of account.

Reasons to Open a Savings Account?

Description : Reasons to Open a Savings Account?

Last Answer : Opening a bank account is a great idea for any person seeking to save money. By opening up a savings account, one is truly making a financial decision that will benefit him or her for the rest of one ... to gain interest on any money that is put into a savings account. A savings account allows a pe

How to open an online savings account?

Description : How to open an online savings account?

Last Answer : Many people open up a checking account online, but you can also open up an online savings account. The process is similar to that of a checking account. Depending on what bank you plan on opening your new ... step is to fill out a short form, in order to start your way to enjoying your new accou

How do I open a money market account over the Internet?

Description : How do I open a money market account over the Internet?

Last Answer : You can open a money market account over the internet at https://www.zionsbank.com/isavings_info.jsp - . Another good place to opne an account is www.bankofinternet.com/money-market-savings.aspx

If you had just enough money in your savings account to pay off your house, would you?

Description : If you had just enough money in your savings account to pay off your house, would you?

Last Answer : It would depend on the interest rate, @chyna, and other things like they type of loan, how much equity I had in the house, amount of mortgage payment, value of the home…

Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

Description : Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

Last Answer : A person with 10 million dollars probably has a diversified investment portfolio with a variety of risk levels and return levels. As a result, his insurance is that not everything will collapse at the ... 10% above inflation, banks are a very poor choice for someone with lots of money to invest.

Why A Savings Account Is A Good Place To Keep Your Money?

Description : Why A Savings Account Is A Good Place To Keep Your Money?

Last Answer : With the uncertainty of today's economy, people are wondering where they can put their money and keep it safe. Many people put their savings in long or short-term investments to help get the maximum ... an investment can bring. Find a good savings account and protect your money from a bad economy.

Jason had $414 in his savings account. He deposited $125 last week, and then he withdrew $88 from the account this week to buy new running shoes. How much money does Jason have in his account now?

Description : Jason had $414 in his savings account. He deposited $125 last week, and then he withdrew $88 from the account this week to buy new running shoes. How much money does Jason have in his account now?

Last Answer : 451

What is the trade off to putting money in savings accounts compared to a money market accounts or a certificate of deposits?

Description : What is the trade off to putting money in savings accounts compared to a money market accounts or a certificate of deposits?

Last Answer : Need answer

The Benefits And Disadvantages Of Money Market Savings Accounts?

Description : The Benefits And Disadvantages Of Money Market Savings Accounts?

Last Answer : A money market account is also known as an MMDA. Money marketaccounts are savings accounts that are offered by financialinstitutions, credit unions, and banks. These kinds of accounts arefederally insured ... that is earned from investments or estatesettlements. They can also be used to keep funds

What kind of interest could I get on money market savings accounts now?

Description : What kind of interest could I get on money market savings accounts now?

Last Answer : You can get below 0.1% of interest on money market savings accounts now. You can ge the rates at www.PersonalSavings.AmericanExpress.com or www.citibank.com/savings

what bank have the best rates in savings, checking, money market and cd accounts?

Description : what bank have the best rates in savings, checking, money market and cd accounts?

Last Answer : Bank rates vary on an almost daily basis. You can get up to date comparisions for all types of accounts at http://www.bankrate.com/

When a corporate entity wishes to raise money from the market it can do that by issuing A. Treasury Bills B. Kisan Vikas Patra C. National Savings Certificate D. Commercial Papers E. None of the Above

Description : When a corporate entity wishes to raise money from the market it can do that by issuing A. Treasury Bills B. Kisan Vikas Patra C. National Savings Certificate D. Commercial Papers E. None of the Above

Last Answer : D. Commercial Papers Explanation: Commercial paper is an unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities.

Is it normal to get $0.01 interest on $750 savings account?

Description : Is it normal to get $0.01 interest on $750 savings account?

Last Answer : Sounds normal. Interest rates are so flipping low. You could shop around for a higher rate somewhere.

What type of savings institution pays the most interest on a savings account?

Description : What type of savings institution pays the most interest on a savings account?

Last Answer : In the US, there are all sorts - like dozens and dozens - of banks that are offering 2.50 or 2.60% on money these days. Go to https://www.bankrate.com and click on either Savings ... but there are some mild restrictions on how many transactions per month. Really easy to find alternatives these days.

What is an average interest payment on a savings account?

Description : What is an average interest payment on a savings account?

Last Answer : I was told that my interest is half a percent per month if I don’t take any out. I was told that when I reach a minimum of $5,000 a month that my savings interest would be 1.5 percent if I switch to a high interest savings account.

What is the interest for a typical savings account on $5,000?

Description : What is the interest for a typical savings account on $5,000?

Last Answer : Edit I just called the bank. It is $3.50 a month. $42 a year.

Whats the highest savings account interest rate, and CD interest rate, you know of?

Description : Whats the highest savings account interest rate, and CD interest rate, you know of?

Last Answer : For savings I use smartypig.com. It works great.

"Are there any credit cards that pay interest like a savings account?

Description : "Are there any credit cards that pay interest like a savings account?

Last Answer : You mean a debit/credit card? I have one of them.

How do you set up a savings account for a child?

Description : How do you set up a savings account for a child?

Last Answer : Any bank officer will help you. Try to find the best interest rates online as well.

How much is in your savings account currently?

Description : How much is in your savings account currently?

Last Answer : 22 bucks

what Calculate the new balance after one year on a savings account if the previous balance was $230.10 and the interest rate was 4%.?

Description : what Calculate the new balance after one year on a savings account if the previous balance was $230.10 and the interest rate was 4%.?

Last Answer : 239.3

What is Home Savings Account ?

Description : What is Home Savings Account ?

Last Answer : The savings account through which the bank allows the people to save money at home is called home savings account. Such calculations are usually conducted to increase the savings tendency among the poor and uneducated population.

What is a savings account ?

Description : What is a savings account ?

Last Answer : : A savings account is a bank account which is usually used by a person of fixed and fixed income for savings purposes. Banks offer low interest rates on savings accounts. Money can be deposited ... accounts can be of different types. For example: 1. Home savings account 2. School savings account

What is female savings account ?

Description : What is female savings account ?

Last Answer : The savings account through which the bank provides banking facility only to women is called women's savings account. These accounts are managed according to the general savings account and such accounts are usually conducted by women.

What is a Labor Savings Account ?

Description : What is a Labor Savings Account ?

Last Answer : : The savings account through which the bank increases the savings tendency of the working population and collects savings is called labor savings account. Banks usually operate these accounts in large industrial areas of the country.

What is insurance savings account ?

Description : What is insurance savings account ?

Last Answer : The savings account of the people through which the people can insure their life as an additional benefit with all the benefits of a savings account. The bank account is called insurance savings account.

What is Home Savings Account ?

Description : What is Home Savings Account ?

Last Answer : The savings account through which the bank allows the people to save money at home is called home savings account. Such calculations are usually conducted to increase the savings tendency among the poor and uneducated population.

Do you prefer savings or current account?

Description : Do you prefer savings or current account?

Last Answer : Account is like a wallet usually designed for customers for easy saving and transactions with the aim if monitoring aand sustaining a dependable financial transactions and satisfying customers desires. ... is high per transactions even the use of its check book involves transactional charges.

Businessman generally operates savings bank account.

Description : Businessman generally operates savings bank account.

Last Answer : State whether the following statement are True or False with reason : Businessman generally operates savings bank account.

Distinguish between the following: Current Account and Savings Account.

Description : Distinguish between the following: Current Account and Savings Account.

Last Answer : Distinguish between the following: Current Account and Savings Account.

When Valentina invested 6500 in a savings account with a yearly interest of 4 for 7 years how much simple interest did she earn?

Description : When Valentina invested 6500 in a savings account with a yearly interest of 4 for 7 years how much simple interest did she earn?

Last Answer : 1,820-apex test answer

If you have a traditional savings account you could be charged a fee if?

Description : If you have a traditional savings account you could be charged a fee if?

Last Answer : Need answer

When a customer opens a bank savings account the bank essentially becomes a(n) .?

Description : When a customer opens a bank savings account the bank essentially becomes a(n) .?

Last Answer : borrower