How come a money market account (on line) is offered with an average of 4% interest and a savings account so much less? Is doing this on the web makes a difference?
What is a savings account and what is a money market account?
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chenc_sp
June 9, 2010 at 2:58 am
savings is much more predictable… your intrest rate is a bit lower
money market is kind of like a stock
STEPHEN J
June 9, 2010 at 3:30 am
Neither of them are good investments, go with stocks. They give better returns than either of those accounts, and they don’t have as many fees as mutual funds. You can get diversity on your own with a little research.
stock.expert
June 9, 2010 at 4:22 am
Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions.
I am sure that you can get your answers in this website.
http://investing.sitesled.com/
Good Luck and Best Wishes!
luvfurypassionenergybabe
June 9, 2010 at 4:32 am
A savings just sits there and the bank can borrow funds from it at will .A money market account is funds loaned to the, local, state , or federal government.
The government will pay more interest than the bank. But money market accounts are not federally insured and so they offer a slightly higher return.