Top 10 Jumbo Money Market Accounts

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Updated on Friday, October 1, 2021

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 high 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.

Explore the top jumbo money market rates below.

1. Customers Bank – 0.50% APY, $25,000 minimum deposit to earn APY

Ascent Money Market - Online Only from Customers Bank Customers Bank’s Ascent Money Market Savings Account is currently offering a rate of 0.50% APY. In order to earn the high APY, though, there is a minimum deposit required of $25,000, and it’s worth noting that balances below $25,000 do not earn interest. This rate is available only for new money and online accounts.


on Customers Bank’s secure website

Member FDIC

2. Service Credit Union – 0.60% APY, $100,000 minimum to earn APY

Money Market from Service Credit Union Currently, Service Credit Union offers a tiered-rate money market account. If you’ve got $100,000 to deposit, you’ll earn 0.60% APY, which is the highest rate of any of the financial institutions on this month’s list. If you don’t have quite that much to invest, the next tier also earns a competitive 0.45% APY, which would also make this list, and requires a minimum balance of $25,000 to earn the APY.

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

3. Veridian Credit Union – 0.60% 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 0.60% 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 0.75% 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

4. Federal Savings Bank – 0.60%, $100,000 minimum to earn APY

Money Market from The Federal Savings Bank Federal Savings Bank boasts a noteworthy APY of 0.60% on balances of $100,000 or greater for its money market account. A minimum deposit of $1,000 is required to open this account, and balances below $100,000 will earn a lower APY. Interest for this account is compounded and credited on a monthly basis.

Headquartered in Chicago, Federal Savings Bank offers its products to consumers nationwide, online.


on The Federal Savings Bank’s secure website

Member FDIC

5. CFG Bank – 0.59% 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 0.59% 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 0.59% APY, and only new funds are eligible


on CFG Bank’s secure website

FDIC Insured

6. State Department Federal Credit Union, 0.55% APY, $100,000 minimum deposit to earn APY

Premiere Money Management Shares from State Department Federal Credit Union State Department Federal Credit Union snags a spot on our list for its Premiere Money Market Account, which currently offers 0.55% APY for balances $100,000 and over. Otherwise, you’ll earn a 0.50% APY on balances between $50,000 – $99,999.99 and 0.45% APY on balances between $25,000 – $49,999.99.

Aside from being an employee of the Department of State, you can become a member of State Department FCU if you are a family or household member of an existing member, a member of one of the credit union’s associations, organizations or company partners or a member of American Consumer Council.


on State Department Federal Credit Union’s secure website

NCUA Insured

7. iGObanking – 0.50%, $25,000 minimum to earn APY

iGOmoneymarket - New Money Only from iGObanking Online bank iGObanking is currently offering a competitive rate of 0.50% on funds of at least $25,000 in its iGOmoneymarket account. This account allows you to make up to six transfers per month, and allows you to set up automatic monthly transfers from your checking account. There are no monthly maintenance fees associated with this account.


on IGObanking’s secure website

Member FDIC

8. BankPurely – 0.50% APY, $25,000 minimum deposit to earn APY

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 0.50% 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

9. Premier America Credit Union – 0.50% 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. All of the rates for its tiered money market are as follows:

  • $2,500-$24,999: 0.40%
  • $25,000-$99,999: 0.45%
  • $100,000+: 0.50%

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

10. CNB Bank Direct – 0.49% 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 0.49% 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

What is a jumbo money market account?

Jumbo money market accounts are typically called jumbo because they require a significant deposit to earn the top rate. Essentially, the bank or credit union rewards you with a higher rate for placing a hefty deposit at their institution. That makes jumbo money market account rates easily appealing. However, you often have to be able to meet the significant minimum to take advantage.

Jumbo money market accounts are still FDIC insured up to $250,000 for individuals, unlike money market funds.

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

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.