Money Market Account Calculator
By Alastair Hazell.
- APY Calculator
- MMA Calculator
Calculate how much interest you might earn on your money market account and see a schedule of interest payments.
Disclaimer: Whilst every effort has been made in building our calculator tools, we are not to be held liable for any damages or monetary losses arising out of or in connection with their use. Full disclaimer.
How to use our calculator
You can use our calculator to see a projection for the interest you could earn on your money market account. Here's a list of the options available to you for the calculator and what to enter:
- Initial deposit: The amount you're depositing into your account at the start of the investment period.
- Interest rate (APY): The annual percentage yield (APY) you're hoping to earn. Enter this as a percentage figure.
- Time period: The number of years and months you plan to keep your money invested for.
- Regular contributions: Any additional deposits you plan to make regularly (this is optional).
After you've entered your figures, the calculator will run some calculations and return an estimated projection.
Learning more about money market accounts
We've gone through how to use our calculator. So, let's now take a look at what a money market account is and what its benefits are.
A money market account (MMA) is a type of deposit account that earns interest (commonly through compound interest) based on money market interest rates. These accounts are typically offered by financial institutions such as banks and credit unions. Because they provide a balance of accessibility and potential earnings, they're worth considering if you're in a position where you want to earn interest while maintaining easy access to your funds.
Recommended resources
We do not offer money market accounts on this website – our focus is on providing high-quality financial calculators. For expert advice and recommendations on money market account options, we therefore recommend checking out the following reputable resources:
- MMAs: Advantages and disadvantages – Investopedia.
- Bankrate's top money market accounts.
- Nerdwallet's list of the best money market accounts.
Note that although the links above are to reputable external websites, we have no control over their content.