A savings account that offers higher interest rates, in which a person's money must stay deposited for a specific amount of time-B. Money-market account
Step-by-step explanation:
A money market account is a type of saving account that has higher interest rate than the normal saving account.These account can be opened with the banking institution but the only criteria is that the minimum balance that need to be maintained in these account is higher than the normal saving account.These type of account also comes with the check and a debit card facility but their is a limit on the number of transactions one can perform
The Federal deposit Insurance corp and the National Credit Union Administration provide insurance for these types of account .So that the customers don't lose money in case of a default
A savings account that offers higher interest rates, in which a person's money must stay deposited for a specific amount of time-B. Money-market account
