Money Market Rates Fidelity
There are four basic accounts for Fidelity MMA rates and we here at Money Market Rates 101 are going to look at them and then compare them to yesterday’s post that shows the national best rates right now. Those of our readers who are interested in Fidelity money market rates and those who wonder what a local bank has over national offers will see how this can pan out.
By far the best money market rates at Fidelity are the special offer on balances over $50,000 which have a 2.00% annual percentage yield (APY) which beats the national best at UFB Direct with a 1.85% APY. Of course, you’ll need that $50,000 to get this rate.
Other Fidelity money market rates are at or around national average right now and the minimum to open a MMA at Fidelity is $2,500 which pays a 0.75% APY, as do most Fidelity MMA rates right now.
A $10,000 balance can get you money market rates Fidelity of 1.00% APY and a corporate MMA can yield 1.25% APY on that deposit.
If you’re local to a Fidelity Bank, you should consider an account there if you need the convenience of a local branch, have the money to get that special rate, or are otherwise already attached to Fidelity. It’s a very good, solid, respectable local bank and is, of course, FDIC insured to the fullest extent of the law.