Bank Money Market Account Rates for June 19, 2009 from SelectCDrates.com

June 23, 2009 - PRLog -- Even though bank savings rates and money market rates starting the week paying relatively low interest rates, this week those rates continued to move even lower.  Bank money market rates declined by six basis points or 6/100 of a percent to end the week at 1.91%.  The highest bank money market account rate fell by an astonishing nine basis points to land at 2.00%.  

The top bank rate on a money market account for June 19, 2009 stood at 2.00%.  This interest rate can be found at multiple banks including; Nationwide Bank, AmTrust Direct, Corus Bank and Discover Bank.  Following these bank offers is the 1.91% money market account at iGOBanking.  One basis point below that rate is the money market account promoted by Flagstar Bank with an interest rate of 1.90%.  Zions Bank of Salt Lake City, Utah comes up next with a money market account that yields 1.87%.  Ally Bank maintained their money market rate this week at 1.85%.  The top ten bank money market rates conclude with the accounts at UmbrellaBank.com and California First National Bank in which both banks promote rates of 1.80%.

Just when you think bank rates can’t go any lower we experience a week like this in which the safety in bank rates have become so low it becomes a questionable investment choice.  The positive side of this argument is that bank rates are still attractive relative to other comparable safe, secure and liquid investment choices available.  Inflation remains surprisingly low and opportunities exist in segments of bank savings rates, money market rates and certificates of deposit that beat the averages.

Those investors still seeking safety and high yields may want to peruse the interest rates on bank savings account.  The top bank savings account rates are now offering better payouts by a measurable margin over that of the best money market accounts.  In addition, local and regional CD rates are well above savings rates, money market rates as well the national bank CD rates.

SelectCDrates.com is the leading industry tool for selecting the best CD rates, savings rates and money market account rates.  SelectCDrates.com provides bank rate data on banks locally and nationally to help consumers quickly find the best rates to fit their needs.  SelectCDrates.com achieves the goal of publishing the best rate information by searching for the highest bank rates with web crawlers, telephone surveys and local market research.  SelectCDrates.com staff provides current statistics on economics news that impacts the bank and credit markets as well as in depth articles on bank products and services.  To view all the bank CD rates and articles visit http://www.selectcdrates.com. Sister sites include http://www.bestcreditcardrates.com and http://findlocalmortgagerates.com.

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