Money Market Account Calculator

A money market account (MMA) is a type of deposit account that typically offers higher interest rates than regular savings accounts. They usually require a higher minimum balance and may offer limited check-writing and debit card access. MMAs are FDIC insured up to $250,000.

A money market account is a bank deposit product (FDIC insured). A money market fund is a mutual fund that invests in short-term debt securities (not FDIC insured but regulated by the SEC). Money market funds may offer slightly higher yields but carry slightly more risk.

Minimum balances vary by institution, typically ranging from $1,000 to $25,000. Some banks waive minimums or fees for higher balances. Falling below the minimum may result in monthly maintenance fees or a lower interest rate.