money market deposit account
A type of savings account in which the bank or brokerage firm invests Funds held on deposit in short-term debt obligations. A money market deposit account often offers limited check-writing privileges and pays an interest rate that is typically higher than a regular savings account but lower than a certificate of deposit or other time deposit. Also referred to as a money market demand account or simply as a Money Market Account. Compare to money market fund.
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money market demand account
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