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If you are looking to increase your savings, a money market account can be a great place to start. They often offer a higher interest rate than what you would find with a traditional savings account.
There are over 5 million residents in Alabama, with dozens of banks catering to their financial needs. These banks offer a wide range of both online and in-person banking services money market accounts for you to choose from.
When deciding on a money market account, select one that is best suited to your financial needs. Getting a high-interest rate is the main focal point, but it is not the only factor to consider. The minimum deposit and balance requirement, fees, and other account features matter too. Shop around and compare the available options. You might just land on a great deal.
WalletBrain recognizes that finding a money market account that is best suited for you can be quite challenging. To make the process easier for you, we reviewed the interest rates and other features of some of the best money market accounts in Alabama. Use our comprehensive review to find the best match for you today.
This is a great money market account which acts like a checking account in some aspects.
It comes with a debit card and check writing privileges but be careful not to go over the monthly limit of 6 transactions. Per transaction above the limit will be expensive, around $10 per transaction.
This money market account comes with a low intial deposit of $100 to open the account and comes with no monthly fees. Interest is compounded daily and paid monthly.
You'll earn the current APY rate regardless the amount you deposit in the account - there is no tiered system.
