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Home Invest in money market accounts
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Thursday, 26 March 2009 03:27

Invest in money market accounts

Savings accounts are financial products that are offered by banks and many other financial institutions. These types of accounts are often considered the safest place to put your money, because your money comes with a guaranteed rate of return (interest). And in the US, your money is insured by the federal government through the FDIC (Federal Deposit Insurance Corporation) up to $100,000. That means you cannot lose money when you place your money in a US bank. And it's a very simple system: You deposit your money (called the "principal") and the bank loans out your money to other customers and pays you for it (called "interest").

For further details on various types of savings accounts, please visit the Money market and other savings accounts page.

Return to Investing Basics from Invest In Money Market Account

Last Updated on Saturday, 28 March 2009 02:00