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The thought of hot stocks can be enticing, but if you're really looking to save, a money market account is a safe bet. The national average for money market accounts is currently at 0.16 percent, but many large national and online banks are offering rates above the national average.
A money market account offers the benefit of liquidity and safety with a yield that's better than other interest-bearing savings accounts. Look for money market accounts in Boston, MA, and in cities across the nation.
Money market accounts in Boston, MA
Here are the money market account rates in Boston, MA, as of 2 p.m.
| Bank Institutions | Intro Rate | Intro Months | Rate After Intro | APY | Min Bal Open | Min Bal Avoid Fees | Monthly Fees |
| Ally | 0% | 0 | 1.03% | 1.04% | $0 | $0 | $0 |
| Flagstar Direct | 0% | 0 | 1.10% | 1.11% | $1 | $0 | $0 |
| Danversbank | 0% | 0 | 0.25% | 0.25% | $1,000 | $0 | $0 |
| Sovereign Bank | 0% | 0 | 0.20% | 0.20% | $10 | $2,000 | $10 |
| Eastern Bank | 0% | 0 | 0.15% | 0.15% | $2,500 | $2,500 | $7 |
With 401(k)s tax incentives on the table for cuts, it's no wonder people want to figure out investing on their own.
