"If you shop at a bank, or perhaps a savings bank or credit union, some teller may try to sell you on the bank's "money market fund." Most likely, the teller is offering to open a money market deposit account for you. Money market deposit accounts are insured financial products, and their yields usually are a little better than the bank's standard savings accounts, however their yields usually are much worse than yields available from money market mutual funds."Currently, Vanguard's Prime Money Market Fund has a yield of 1.32%. At my credit union, the money market is yielding 2.1% for $2000-$10000, 2.4% for $10000 plus.Of course, I don't use money markets except for transitions and keeping enough cash in the credit union for budgetary needs and a bit extra for everyday emergencies (car repairs, etc.).
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