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What is interest rate for money market

Your earnings from a money market account depend on the average daily balance you hold in the account and the exact APY your account is paying. The average money market rate is a fraction of a percent, while the best money market accounts earn rates that are many times higher. You can only make a total of six transfers or withdrawals from your Quontic money market account. How to open a money market account A money market may pay a competitive rate and provide some of the key perks of a checking account. Money market accounts are smart for anyone who wants to earn a high-yield interest rate, but also wants check-writing privileges.

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Read review. Bankrate's picks for the top money market account rates Quontic Bank � 5. The biggest drawback to putting your savings in a money market account is that the rate is not guaranteed. It has check-writing privileges. Some money market accounts allow you to withdraw money from an ATM. Why Vio Bank?