The Cash Balance1 in your core position that is swept to Program Banks is eligible for FDIC insurance coverage subject to the applicable FDIC coverage limits. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. The interest rates for amounts that are swept to the Program Banks are: Money Market Mutual Fund Overflow The Money Market Mutual Fund Overflow ("Money Market Overflow") is a component of the FDIC Sweep Program which provides that, for cash balances that exceed FDIC insurance coverage limits, or cannot be swept to a Program Bank due to either a lack of bank capacity or unavailability of FDIC insurance, your funds will instead be swept into the Money Market Overflow feature. Funds swept into the Money Market Overflow will be held in the Fidelity Government Money Market Fund* – Class S (FZSXX | Get Prospectus). Once your funds are placed in the Money Market Overflow fund, these funds will be the first funds that are used to settle any debits or withdrawals from your account. Note: Funds held in the Money Market Overflow are not FDIC Insured. The MMKT Overflow is not available for purchase as a stand-alone investment but is a component of the FDIC Insured Deposit Sweep Program. Please see the FDIC Insured Deposit Sweep Program Disclosure for more details. Listed below are examples of the Fidelity money market funds available and their rates of return. See more information on these and other money market funds.
How much interest do money market funds pay?A good interest rate for a money market account is higher than the average rate. The average rate is currently around 0.20% APY. However, rates can vary depending on your bank or financial institution. Some banks may offer rates as high as 0.50% APY.
Does Fidelity have a high interest savings account?Although it's not highly advertised on the Fidelity website, the Cash Management Account is an interest-bearing account. It earns an interest rate of 0.69% on all balances.
Which is better Fidelity government money market?Fidelity U. S. Treasury money market fund is the safest of the lot while Fidelity U. S. Government Reserves and Fidelity Government Money Market Fund are a close second. Money market funds investing in commercial paper or debt issued by municipalities tend to carry a bit more risk.
Are Fidelity money markets safe?Since 1971, Fidelity has managed money market funds with the same objective - to help provide safety, liquidity, and competitive returns for our customers' cash investments. Managing nearly $800 billion1 in money market funds, Fidelity is one of the largest and most trusted money market fund managers the industry.
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What is the interest rate on fidelity money market account
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