Money Markets

Money market accounts offer you many of the same benefits as certificates of deposit with the added benefit of being a checking account.

Military personnel can open a money market account at most banks. Depositing money in a money market is as easy as depositing cash into a savings or checking account. Cash is immediately available for your needs.

Some financial institutions place a limit on the number of checks that can be drawn against the money market account each month. The rate of interest is directly proportional to your deposited assets, making money markets more beneficial as your deposits grow.

If your military family needs fast access to your savings, money markets are for you. When you research your bank's money market options, look for high interest, low monthly maintenance. The best money market accounts are tiered to pay you the highest potential interest on your balances, and offer flexibility and easy accessibility.