Top 10 Jumbo Money Market Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Updated on Wednesday, July 1, 2020

Jumbo money market accounts

What is a jumbo money market account?

When you’re saving money, you want to make sure you’re stashing it in the right place. Ideally, that will be in an account with a high rate of return. While savings accounts tend to offer a higher return than checking accounts, money market accounts — which are FDIC-insured up to $250,000, unlike money market funds — may yield an even higher rate of return.

That’s if you know where to find the best rates.

The money market accounts that offer the highest returns are known as jumbo money market accounts. In the past, these high-yielding accounts could have minimum initial deposits as much as $100,000, but today, you can get these higher rates with a much lower initial investment and sometimes there’s no minimum at all. For this round-up, we included accounts that required a minimum deposit of $25,000 and up.

In this roundup, we’ll explore the top rates.

UFB Direct, 1.00% APY, $25,000 Minimum Deposit to earn APY

UFB Premium Money Market - New Money from UFB DirectWhile you only need a minimum deposit of $5,000 to open an account with UFB Direct, you’ll need to have a minimum balance of $25,000 to earn the 1.00% APY. If you balance is less than $25,000, you’ll end up earning an APY of 0.50%.

This account does come with a $10 monthly fee, but if you have an average daily balance of $5,000 or more in the account, UFB Direct will waive the fee. Checks and a Visa® Debit Card are available upon request. There is also a mobile banking app that will allow you to conveniently manage your account on-the-go. All deposits held with UFB Direct are FDIC-insured.

UFB Direct is an online bank and a division of Axos Bank The overall company has acquired over $9 billion in assets.


on UFB Direct’s secure website

Member FDIC

CFG Bank 1.16% APY, $25,000 minimum to earn APY

CFG High Yield Money Market - New Money from CFG BankMaryland-based bank CFG Bank is currently offering the highest APY on a jumbo money market account. The Online CFG High Yield Money Market account comes with a 1.16% APY.

This account requires a $1,000 minimum deposit to open. However, the account requires a minimum daily balance of at least $25,000 to earn the 1.16% APY, and only new funds are eligible


on CFG Bank’s secure website

FDIC Insured

First Central Savings Bank, 1.00% APY, $50,000 minimum to earn APY

E-Premier Money Market (Online Only) from First Central Savings Bank First Central Savings Bank’s E-Premier Money Market is a tiered-rate account, touting generous APYs for big depositors. For balances over $50,000, you’ll earn an APY of 1.00%. However, balances between $10,000 and $24,999 earn a dismal APY of 0.35%, while balances between $25,000 and $49,999 earn an APY of 0.55%. With this account, you will face a monthly fee of $10 if your balance falls below $10,000.

While First Central Savings Bank only has physical branches located throughout the state of New York, its products are available to consumers nationwide, online.


on First Central Savings Bank’s secure website

Member FDIC

Quontic Bank, 1.10% APY, $1,50,000 minimum to earn APY

Personal Money Market from Quontic BankOnline-only Quontic Bank is offering a generous APY of 1.10% on balances over $150,000 for its money market account. There is a minimum deposit requirement of $500 to open an account, and there is no monthly fee. Interest for this account is compounded daily and credited to your account monthly. Withdrawals and transfers are limited to six per month or statement cycle.

If you don’t have $150,000 to stash in a jumbo money market account, Quontic also offers decent APYs on lower balances. Balances ranging from $0 to $5,000 earn an APY of 0.90%, while balances between $5,000 and $150,000 will garner an APY of 1.05%.


on Quontic Bank’s secure website

Member FDIC

Premier America Credit Union, 1.10% APY, $100,000 minimum to earn APY

Money Market Savings from Premier America Credit UnionPremier America Credit Union boasts a competitive, tiered-rate money market account, rewarding depositors with big balances. Its sweet spot is for balances between $100,000 and $249,999, which doles out an APY of 1.10%. All of the rates for its tiered money market are as follows:

  • $2,500-$24,999: 0.70%
  • $25,000-$49,999: 0.80%
  • $50,000-$99,999: 0.90%
  • $100,000-$249,999: 1.10%
  • $250,000-$499,999: 1.20%
  • $500,000+: 1.30%

Membership to Premier America Credit Union is open to anyone who also joins the Thousand Oaks Alliance for the Arts.


on Premier America Credit Union’s secure website

NCUA Insured

Bellco Credit Union, 1.25% APY, $50,000 minimum deposit to earn APY

Premier Money Market Account from Bellco Credit UnionBellco Credit Union is based out of Colorado, but it offers its services nationwide. Currently, one of its standout products is the Premier Money Market account, which earns an APY of 1.25% on balances of $50,000 or more and a lower APY of 0.75% on deposits between $10,000 and $50,000.

Discover Bank, 0.90% APY, $100,000 minimum to earn APY

Money Market from Discover Bank Discover Bank offers a wide range of online banking products, including a competitive jumbo money market account. This account earns 0.90% APY on balances over $100,000, making it one of the most competitive jumbo money market accounts out there. Lower balances under $100,000 still earn a competitive rate of 0.85% APY.

Discover boasts zero fees for common items like monthly service, checks, expedited delivery, excessive withdrawal, insufficient funds and more.

CNB Bank Direct, 0.89% APY, $25,000 minimum deposit to earn APY

Premium Money Market from CNB Bank Direct CNB Bank Direct is currently featuring an impressive APY on its Premium Money Market account. With a minimum deposit of $25,000, you’ll unlock an APY of 0.89%on funds up to $2 million. The minimum deposit of $25,000 is also the amount required to earn interest, and there is a required $1 minimum balance required to keep the account open. For this account, CNB Bank Direct charges no monthly service fees.

Established in 2008, CNB Bank Direct operates as a division of Ohio-based Citizens National Bank. Citizens National Bank has roots dating back to 1920.


on CNB Bank Direct’s secure website

Member FDIC

Advancial Credit Union, 1.01% APY, $100,000 minimum to earn APY

Premium Money Market from Advancial Among its array of financial products, Advancial Credit Union’s Premium Money Market account is worth highlighting. This account features a 1.01% APY, and requires a daily balance of $100,000 to earn that high APY. Advancial also features a regular money market with a required deposit of $2,500, but that account has significantly lower rates.

Headquartered in Dallas, Advancial Credit Union offers its products online to consumers nationwide. Members of select employer groups are able to join Advancial.


on Advancial’s secure website

NCUA Insured

Affinity Plus FCU, 1.00% APY, $25,000 minimum to earn APY

Nova Money Market from Affinity Plus Federal Credit Union Affinity Plus FCU’s Nova Money Market product offers its competitive rate of 1.00% APY to those with a minimum balance of $25,000. Interest compounds monthly.

You can qualify for Affinity Plus membership depending on where you’re employed or volunteer, where you go/went to school, where you live, work or worship and your relatives and roommates. You can also join by making a one-time $25 dues payment to the Affinity Plus Foundation.


on’s secure website

How these jumbo money market accounts’ rates compare with regular money market rates

Jumbo money market accounts are typically called jumbo because they require a significant deposit to earn the top rate. You may have noticed that many of these accounts do not necessarily have the label “jumbo” attached to them. This is because with the advent of online banking, more and more financial institutions are passing along the savings they incur from not having to maintain brick-and-mortar locations on to their customers via higher returns on products like money market accounts.

For that reason, you’ll notice that many of the highest-yielding accounts on this list can also be found on our Best Money Market Rates & Accounts lineup.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Do you have a question?