Better returns meet everyday flexibility.
Saving your money can be tough. Sometimes, understanding all of the different places you can save your money is even tougher. Luckily, we're here to help!
So, what is a Money Market account? It's a lot like a regular liquid savings account. You can store your money and earn dividends based on your balance. They’re also unique in that they have a few features that are common to checking accounts, like the ability to write a check against the balance, and sometimes can even include debit card access.
At Clearview, we have two Money Market account options that can earn higher yields than traditional savings accounts and offer easy access to your money whenever you need it.
What are the benefits?
The kicker about a Money Market account is that they generally earn higher dividends than a regular savings account would. That means you earn more on your money over time, which makes this type of account ideal for a longer-term financial goal.
For clarity, traditional savings accounts are often best for simple, everyday saving goals. They offer security and easy access to funds, but it may earn at a lower rate than a money market account. A savings certificate is designed for those who are comfortable setting money aside for a fixed period of time in exchange for a predictable, often higher return. Unlike a money market or traditional savings account, a certificate usually limits access to your funds until the term ends.
What is a Money Market good for?
A Money Market account can be a good place for money you want to save and grow, but still want to be able to access when you need it.
For example, you might use one to build an emergency fund, save for a vacation, buy a car, cover wedding expenses, or work toward a down payment on a home. While your money stays in the account, it can earn money based on the account’s rate and your balance. Then, when it’s time to use your savings, you can access the money instead of having it locked away for a set period of time.
Ready to get started?
Whether you’re building an emergency fund, saving for a major purchase, or simply looking for another place to grow your savings, the right account depends on your goals and how you expect to use your money. Explore Clearview’s Money Market account options and current rates to see whether one could be a good fit for your savings plan. You don’t need to be a financial expert to make a smart choice! Start by understanding what the account does, what it costs, and whether it works for the way you save.
