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What is the average money market fund interest rate?
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Money market funds rate are much higher than regular savings accounts. The do require larger opening deposits and the average is 0.20% per $10 to $25.
What is a money market fund?
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Money market funds are a type of investment which aims to help shareholders earn interest while maintaining a net asset value. The net asset value is a rate of $1 per share.
Why are money market fund rates higher than that of a savings account?
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Banks can invest money market funds in short-term securities, municipal bonds, loans to customers, treasury notes and more, bringing higher interest rates than with savings account.