Compare money market fund yields vs fixed deposits. See daily accrual, 7-day yield, effective annual return, and liquidity for top African MMFs.
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MMF vs Fixed Deposit Comparison
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Money market funds compound daily and allow withdrawals anytime — unlike fixed deposits with lock-in periods. However, MMF rates are variable; fixed deposit rates are guaranteed.
Frequently Asked Questions
What is a money market fund?
A money market fund (MMF) is a low-risk investment fund that pools money to invest in short-term, high-quality debt instruments (T-bills, commercial paper, bank deposits). Returns are variable but usually close to T-bill rates. You can deposit and withdraw freely — unlike a fixed deposit.
MMF vs Fixed Deposit — which is better?
It depends on your goals. MMFs offer flexibility (withdraw anytime) and daily compounding. Fixed deposits offer a guaranteed rate but lock your money. For short-term parking of funds, MMFs often win. For long-term at a locked rate, fixed deposits can be better — especially when rates are falling.
Are money market funds safe in Africa?
Most regulated MMFs invest in government securities and top-rated bank instruments. They are among the safest investments available. In Kenya, they are regulated by CMA. In Nigeria, by SEC. However, they are NOT guaranteed like bank deposits — though MMF failures are extremely rare.
What is the minimum investment for African MMFs?
Minimums vary: Kenya CIC MMF (KSh 5,000), Cytonn (KSh 1,000), Nigeria ARM MMF (₦5,000), South Africa Coronation (R10,000). Many offer M-Pesa integration in Kenya for very small regular contributions.