Virginia Money Market Rates
Below are banks offering money market accounts in Virginia. Money market rates are usually comparable to savings account rates but money markets often provide checks and debit cards. If you are comfortable banking online, you may find higher yields with online savings accounts. Credit Union savings rates can also be competitive.
VA - December 12, 2013
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Premium Money Market Accounts
Premium money market accounts are generally offer higher rates in return for a higher minimum balance versus regular money market accounts. Or, they can be part of a relationship package. For instance, if a consumer opens a certain type of checking account and maintains a minimum balance in it, they may quality for a premium money market account also.
Often, premium money markets have higher rates but that is not always the case. Other than a higher rate and more selective opening criteria, there is no difference between a premium and regular money market account. Like a regular money market, Premium MMs are FDIC insured.
Consumers should choose a premium money market account if they are willing to deposit the minimum balance requirement or fulfill the other conditions of the account and the account pays a higher rate than other savings accounts or regular money market accounts available.
· Higher interest rate than a savings or regular money market account, usually.
· Other advantages are the same as a regular money market account.
· May require a higher minimum balance than a regular money market or savings account or come with other requirements.
· Other disadvantages are the same as a regular money market account.
To see how this account compares to other similar types of investments, please view the BestCashCow income guide. View it here.
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