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money market deposit account

   Also found in: Acronyms, Wikipedia 0.01 sec.
money market deposit account
A savings account at a commercial bank or thrift institution that pays a return competitive with money market funds. The number of transactions that may take place each month is limited. Institutions offering the accounts may require a minimum balance in order to receive money market yields. Because of their liquidity and adequate returns, these accounts are ideal temporary repositories for funds awaiting more permanent investment.
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