Rates updated between Aug. 5, 2025 and Aug. 11, 2025
Jumbo money market accounts are worth considering if you have at least $100,000 in cash that you wish to keep liquid. Bankrate defines a jumbo money market account as one that pays a different (usually higher) yield on deposits of at least $100,000. Many of these accounts pay higher rates the more you deposit.
Note, though, that you can likely find higher rates with regular money market accounts. Still, if you’re interested in something specifically geared to attract higher balances, take a look below at Bankrate’s picks for the top jumbo money market rates.
The following accounts can be found at most banks and credit unions. They're federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
CDs are best for individuals looking for a guaranteed rate of return that's typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They're a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.
Years experience
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Note: Annual percentage yields (APYs) shown are as of June 4. Bankrate's editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes in its lists only banks that are members of the Federal Deposit Insurance Corp. (FDIC) or credit unions insured by the National Credit Union Administration (NCUA).
First Internet Bank of Indiana
Money Market Savings Account
First Internet Bank offers a Money Market Savings account with two APY tiers: you’ll earn 4.42 percent APY on balances above one million dollars and 3.61 percent APY on balances of less than one million. Note that you’ll need to keep at least $4,000 in this account to avoid paying the $5 monthly service fee.
America First Credit Union
Money Market Savings Account
America First Credit Union offers a money market account that pays different yields depending on your balance. Members with $1 million or more in a money market account qualify for the top interest tier of 4.10 percent APY, while members with balances of $100,000 to $249,999 (the lowest tier to be considered a jumbo money market account), will earn 2.85 percent APY. And there are no excess withdrawal fees.
Not everyone can join this credit union. You can qualify for America First Credit Union membership in many ways, including living, working and volunteering in Salt Lake county in Utah, as well as other locations in Idaho, Oregon and other states.
Discover Bank
Money Market Account
Discover Bank may be known for its credit cards, but it also offers a selection of banking products, including a money market account that offers a higher rate on balances over $100,000. Balances under $100,000 earn a slightly lower, albeit still competitive yield (enough to make it on Bankrate’s list of the best money market accounts). Unlike with many money market accounts, Discover stands out for not having a monthly service fee. Plus, you won’t pay a fee for taking money out of your account as often as you like.
Frost Bank
Frost Money Market Account
The Frost Money Market Account rewards account holders with a higher APY as they surpass different balance tiers. For example, you’ll earn 1.70 percent APY for deposits of $100,000 to $249,999.99 and 1.87 percent APY on balances of $250,000 to just under a million. There are many more tiers but you’ll need at least $20 million deposited to earn the highest APY of 3.15% APY.
There’s a $15 monthly maintenance fee, which you can waive if you maintain at least $15,000. Withdrawals are limited to six per statement cycle and there’s a $5 excess withdrawal fee if you go over that limit.
Connexus Credit Union
Money Market Account
The Connexus money market account offers tiered APYs. You’ll need at least $1,000 to open the account and start earning interest. There are seven APY tiers. Account holders earn 2.20 percent APY on balances between $100,000 and $249,999 and those with a million dollars or more will earn the highest rate on offer: 3.01 percent APY. The account includes check-writing privileges but beware: making more than four withdrawals in a month results in a $6 fee for each additional withdrawal.
Suncoast Credit Union
Money Market Account
Suncoast Credit Union is the largest credit union in Florida and among its other deposit products, it offers a tiered money market account with higher rates for larger deposits. With $100,000, you’ll earn 2.00 percent APY and with $500,000 or more, you’ll earn the highest APY: 3.00 percent APY. You can link this account to a Suncoast debit card and withdraw your money market funds at an ATM. Plus, there’s no excess withdrawal fee.
People who attend school, live, work or worship in a county in Florida that Suncoast Credit Union serves are welcome to join.
BMO Bank
Growth Money Market Account
You can open BMO Bank’s Growth Money Market account with just $25 dollars but you’ll need to deposit at least $250,000 to get the highest yield of 2.68 percent APY. And those who have between $100,000 and $250,000 in the account will earn 1.97 percent APY. BMO Relationship Checking account holders can earn a higher yield with some qualifying activities.
There is a $10 monthly service fee for this account that you can waive by keeping at least $5,000 in this account. But the bank does have a steep excessive transaction fee of $15 for making more than six certain kinds of transfers and withdrawals, including checks, ACH and wire transfers.
Randolph Brooks Federal Credit Union
Classic Money Market Account
Randolph Brooks Federal Credit Union’s Classic Money Market Account pays different rates depending on how much money you have on deposit. Those with $150,000 will earn the highest rate: 2.53 percent APY. There’s no monthly fee for this account, no matter your balance, which is a nice perk.
Membership to this credit union is mostly restricted to those who live, work, attend school or worship in Texas, though you can also qualify if a family member is already a member.
Keep an eye on insurance limits
If you have more than $250,000 to deposit into a money market account — congrats! But be aware that earning some of the highest APYs offered by jumbo money market accounts on this list might tip you over federal deposit insurance limits. Think about whether that’s a risk you want to incur.
Remember, your money is insured at a Federal Deposit Insurance Corp. institution up to $250,000 per depositor, per account type (such as single or joint), per institution. And at a National Credit Union Administration (NCUA) credit union, you have that same limit with similar rules.
A jumbo money market account is a type of savings account that requires at least $100,000 minimum deposit to earn a certain APY. It may also reward you with a higher rate for even higher balances.
Why $100,000? Well, for 30 years from 1980 to 2010, FDIC insurance limits were capped at $100,000. So banks offered a higher yield for balances above the limit as a way to entice people to deposit more. The higher yield was compensation for the relatively low risk of keeping uninsured funds in the bank, says Greg McBride, CFA, Bankrate chief financial analyst.
These days, many jumbo money market accounts still offer high rates for deposits above federal insurance limits, but depending on the APY, you may not be getting compensated enough to take the risk. You can usually find more competitive rates at high-yield money market accounts that often pay the same strong yield for all balances.
Note that the definition of a “jumbo” money market account varies by institution. Some banks may call their accounts “jumbo” even when they don’t require a $100,000 minimum deposit to earn a certain rate, just like some banks may call their savings account a “high-yield savings account” when it doesn’t really earn a high yield. At Bankrate, we operate on the definition of a jumbo money market account as one that pays a different yield on deposits of at least $100,000.
If you’re worried about putting your savings into an account that will run up against federal insurance limits, or you want to shop around for higher yields, you have options.
You can likely find higher — or on par — yields at a high-yield money market account that pays the same amount on all balances, whether you have $100 or $100,000. You can even find a regular (not jumbo) money market account that pays a high APY and offers higher FDIC insurance limits. For example, BankPurely’s PurelyInsuredMoneyMarket pays 4 percent APY and offers up to $2,750,000 in FDIC insurance.
If you want to see more high yields on your savings, you can look to the best high-yield savings accounts instead of money market accounts. Both give you easy access to your savings for emergencies or other uses, though you likely won’t get debit card or check-writing privileges with a savings account. Right now, the yields on high-yield savings accounts are outpacing many of the best money market accounts.
Cash management accounts are a type of hybrid checking and savings account, usually offered by brokerages. With the best cash management accounts, you’ll see high rates of return and higher FDIC insurance limits. For example, Wealthfront’s Cash Management account offers a 4 percent APY, instant withdrawals and up to eight million dollars in FDIC insurance by sweeping your funds to partner banks.
Money market funds, also called money market mutual funds, are an investment option akin to a savings account, offered by brokerage firms. While these mutual funds are not FDIC-insured like deposit accounts, they invest in ultra-low-risk and short-term investments, including U.S. Treasury bills and corporate bonds. Your yields in these funds will vary, but they can be higher than what you’d earn with a jumbo money market account. And it’s easy to take your money out when you need it. Plus, some money market funds offer tax benefits because they hold securities that are exempt from federal taxes.
Easy funds access, often with check-writing privileges and debit card access.
Safety through federal insurance at an FDIC bank or NCUA credit union (as long as your balance is within insurance limits).
Significant initial deposits to earn the highest APYs.
Potential to go over FDIC or NCUA insurance limits if you’re chasing the highest APY on offer.
Written by: Matthew Goldberg, Senior Consumer Banking Reporter
Matthew is a senior consumer banking reporter with more than two decades of journalism and financial services expertise, helping readers make informed decisions about their personal finance needs. His banking career includes being a banker in New York City and a bank officer at one of the nation's largest banks. Matthew is currently a member of the Board of Governors at the Society for Advancing Business Editing and Writing (SABEW), chairing its training member engagement committee and is co-chair of its Finance Committee.
Read more from Matthew Goldberg
Edited by: Yuliya Goldshteyn, Editor II, Banking
Yuliya has more than 15 years experience in editing, including four years in personal finance content, concentrating on the consumer banking sector. She specializes in the ins and outs of deposit accounts, including savings, certificates of deposits and checking accounts, as well as what consumers should weigh when deciding on where to bank. She holds a master's degree in social sciences from the University of Chicago and a bachelor's degree in history from the University of California, Berkeley.
Read more from Yuliya Goldshteyn
Reviewed by: Kenneth Chavis IV
Kenneth Chavis IV is a Senior Wealth Advisor at Versant Capital Management, a $900 million wealth management firm founded in Phoenix, AZ. Kenneth's career in the wealth management industry spans nearly a decade. In prior roles, he served business owners and entertainers as a Senior Wealth Manager at LourdMurray and previously served executives, business owners and medical doctors as a Financial Advisor at Empirical Wealth Management.
Kenneth is a CERTIFIED FINANCIAL PLANNER™ professional, holds a Certificate in Financial Planning from Boston University and earned a Bachelor of Science in Business Economics from Hawaii Pacific University, where he graduated summa cum laude.
Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
To find the best jumbo money market accounts, we regularly survey the rates from the banks and credit unions that offer this specialty account.
We define a jumbo money market account as an account that offers a different APY for deposits over $100,000. If a bank calls its account “jumbo” but offers the same APY regardless of the balance, we do not consider it a jumbo money market account even if it is marketed as one.
The banks and credit unions on this page are selected based on the current APY they offer for their highest balance tier. Learn more about how we choose the best banking products and our methodology for reviewing banks.
