is a cd considered a money market account
Funds deposited into a money market account can be withdrawn nearly at will. Some banks offer check-writing privileges, but the number of withdrawals per month are limited. One benefit to money market accounts is that additional funds can be deposited over time, unlike a CD. Money market account rates will change as rates increase, too, which make them a slightly better choice for rate watchers concerned about locking up funds for a long time in a fixed-rate CD. But, look out for minimum balance requirements in money market accounts. Racking up bank fees is a sad way to deplete savings.