Best Money Market Accounts (MMA) and High Yield Bank Rates


Best Money Market Accounts (MMA) and High Yield Bank Rates

Published 2/2/09  (Modified 9/12/11)

By MoneyBlueBook

Updated List Of The Best Money Market Savings Account Rates Below

Amidst the current economic recession and ongoing credit crisis, there is an active flight to quality as consumers flee risky and volatile investments in stocks and mutual funds in favor of safer asset choices like high yield savings accounts and certificate of deposits (CDs) with the nation's best banks. But while bank deposit products all enjoy similar safety and security assurances under the auspices of the federal government, they are not all created equal, as certain deposit categories offer higher interest rates than others, while others afford greater comparative flexibility.

In the world of FDIC insured banking products, there is a natural give and take tension between the interest rate of return offered by any banking product and the degree of liquidity or flexibility afforded. The rate of return for any banking product refers to the annual percentage yield (APY) or interest rate offered in exchange for investing your money in a particular banking asset. Liquidity and flexibility of any bank account product refers to how quickly and easily you can tap into your money at will and convert it into immediate spendable currency. The general rule of thumb for bank accounts is that the higher the interest rate of return offered, the less flexible or liquid the account. Likewise, the more flexible and readily accessible the bank account product, the lower the interest rate offered as tradeoff.

When it comes to getting the best interest rate of return, the best CD rates easily

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