Top 10 Jumbo Money Market Accounts

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Updated on Friday, January 15, 2021

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, 0.20% 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 0.20% 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

Customers Bank, 0.75% APY, $25,000 minimum deposit

Ascent Money Market - Online Only (New Money) from Customers Bank Customers Bank’s Ascent Money Market Savings Account is currently offering an impressive rate of 0.75% APY, launching it to the top of our list. 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 only available for new money, and is only available for online accounts.

The Ascent Money Market account has no minimum balance fee, but withdrawals and transfers are limited to six per monthly statement cycle. Interest for this account is compounded and posted to your account monthly. Customers Bank is a Pennsylvania-based bank with locations also in New York and New Jersey.


on Customers Bank’s secure website

Member FDIC

Gold Coast Bank, 0.75%c APY, $50,000 minimum to earn APY

Money Market Account from Gold Coast Bank Located in Chicago, Gold Coast Bank is currently offering a standout rate of 0.75% on money market account balances of at least $50,000. There is a minimum opening deposit of $5,000 required for this account, and balances below $50,000 will earn a lower APY.


on Gold Coast Bank’s secure website

Member FDIC

CFG Bank 0.68% 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 0.68% 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 0.68% APY, and only new funds are eligible


on CFG Bank’s secure website

FDIC Insured

Veridian Credit Union, 0.65% 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 0.65% 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 0.80% 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

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

Premier America Credit Union, 0.60% 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-$49,999: 0.50%
  • $50,000-$99,999: 0.50%
  • $100,000-$249,999: 0.60%
  • $250,000-$499,999: 0.65%
  • $500,000+: 0.70%

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

State Department FCU, 0.60% APY, $100,000 minimum to earn APY

Premiere Money Management Shares from State Department Federal Credit Union State Department FCU is currently offering a generous APY of 0.60% on its Premier Money Market account for balances of at least $100,000. A balance of $2,000 is required to earn any dividends for this account.

Membership to State Department FCU is open to anyone who also joins the American Consumer Council.


on State Department Federal Credit Union’s secure website

NCUA Insured

Ideal Credit Union, 0.55% APY, $100,000 minimum to earn APY

High Yield Money Market from Ideal Credit Union Ideal Credit Union’s tiered High Yield Money Market account currently boasts an impressive0.55% APY on balances between $100,000 and $24,999.99. There is a minimum of $25,000 required to open this account, and while lower balances earn lower APYs, if you have a balance over $250,000 you’ll earn a higher APY of 0.70%.

Located in Minnesota, Ideal Credit Union opens its membership to anyone who makes a one-time donation of $5 to the John D. Miller Foundation.


on Ideal Credit Union’s secure website

NCUA Insured

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

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.