| North Palm Beach, Fla. -- Nov. 27, 2009 (Bankrate.com) -- The average yield for a $25,000 money market account in the United States remained unchanged at 1.31 percent on Friday, according to Bankrate.com's daily Your Best Interest report.
The highest rate on a $25,000 money market account nationally is 1.98 percent, with an annual percentage yield of 2.00 percent. Six months ago, the average yield was 1.65 percent. The yield on a MMA is higher than the rate because the yield takes compounding into account. Of the 11,769 institutions that sell $25,000 money market accounts in the U.S., 8,832 institutions offer daily compounding, 2,937 institutions offer monthly compounding and no institutions offer quarterly compounding. For consumers, more-frequent compounding produces a higher total yield. Some $25,000 money market accounts are offered only locally; others are offered nationally. Click here to see the 100 highest yields on a variety of MMAs. To see all of the results of Bankrate.com's surveys, go to www.bankrate.com. The Your Best Interest report is a daily service of Bankrate.com, a financial news and information service based in North Palm Beach, Fla. Bankrate surveys more than 300 financial products from more than 4,800 institutions in all 50 states. |