Money Market Account
GeneralGlossary term
Definition
A savings account that typically offers higher interest rates than regular savings accounts but requires higher minimum balances. May include limited check-writing privileges.
Related terms
- Interest RateThe percentage charged by a lender for borrowing money, or earned on savings and investments. Can be fixed or variable depending on the financial product.
- LiquidityHow easily an asset can be bought or sold without significantly affecting its price. Stocks with high trading volume are highly liquid; real estate is relatively illiquid.
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