Top 10 Jumbo Money Market Accounts

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Updated on Tuesday, September 15, 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, 0.40% 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 0.40% APY. If you balance is less than $25,000, you’ll end up earning an APY of 0.10%.

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 0.90% 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 0.90% APY.

This account requires a $1,000 minimum deposit to open. However, you’ll need a minimum daily balance of at least $25,000 to earn the 0.90% APY, and only new funds are eligible


on CFG Bank’s secure website

FDIC Insured

First Central Savings Bank, 0.90% 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 0.90%. 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

Premier America Credit Union, 0.75% 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 0.75%. All of the rates for its tiered money market are as follows:

  • $2,500-$24,999: 0.45%
  • $25,000-$49,999: 0.55%
  • $50,000-$99,999: 0.65%
  • $100,000-$249,999: 0.75%
  • $250,000-$499,999: 0.85%
  • $500,000+: 0.95%

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, 0.80% 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 0.80% on balances of $50,000 or more and a lower APY of 0.40% on deposits between $10,000 and $50,000.

MTC Federal Credit Union, 0.70% APY, $100,000 minimum deposit to earn APY

Money Market from MTC Federal Credit UnionMore money in your money market account will yield a higher APY at MTC Federal Credit Union. Currently, the credit union is offering a 0.70% APY on account balances of $100,000 or more for its money market account. Meanwhile, balances of at least $75,000 earn an APY of 0.60%, while balances of at least $50,000 yield an APY of 0.50%.

MTC Federal Credit Union has physical branch locations in Alabama, South Carolina and Oklahoma, with its products available nationwide online. Membership is open to anyone who joins the Roper Mountain Science Center.


on MTC Federal Credit Union’s secure website

NCUA Insured

Quontic Bank, 0.55% APY, $1,50,000 minimum to earn APY

Personal Money Market from Quontic BankOnline-only Quontic Bank is offering a generous APY of 0.55% on balances over $150,000 for its money market account. There is a minimum deposit requirement of $150,000 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 on 0.45%, while balances between $5,000 and $150,000 will garner an APY of 0.50%.


on Quontic Bank’s secure website

Member FDIC

Service Credit Union, 0.75% APY, $100,000 minimum to earn APY

Money Market from Service Credit Union Currently, Service Credit Union offers a tiered-rate money market account, with the sweet spot being balances for those with at least $100,000, which earn an APY of 0.75%. Meanwhile, balances of at least $25,000 earn 0.60% APY while balances of at least $2,500 earn an APY of 0.50%.

Membership to Service Credit Union is open to anyone who also joins the American Consumer Council.


on Service Credit Union’s secure website

NCUA Insured

Veridian Credit Union, 0.75% APY, $100,000 minimum to earn APY

Premier Money Market from Veridian Credit Union Veridian Credit Union’s tiered money market account is currently featuring a robust rate of 0.75% on funds between $100,000 and $249,999. If you have at least $250,000 to deposit, you could score an even higher rate of 0.90% APY.

Membership to Veridian Credit Union is open to anyone who opens a Member Equity Savings Account for $5.


on Veridian Credit Union’s secure website

NCUA Insured

BankPurely, 0.75% APY, $25,000 minimum deposit

PurelyMoneyMarket - New Money from BankPurely BankPurely is a division of Flushing Bank. Built to attract conscious consumers focused on an ethical lifestyle, this division attempts to build the “community” aspect of a community bank online rather than in person. One of their social initiatives is planting one tree for every new account opened.

To open a PurelyMoneyMarket account with BankPurely, you must have an initial deposit of $25,000. You will be required to keep your account balance at or above $25,000 to earn the account’s 0.75% APY. You will be able to withdraw money using online services and a debit card, but remember to keep it below the six withdrawal per month limit.


on BankPurely’s secure website

Member FDIC

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.

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