Best jumbo money market rates for March 2025

Written by

Matthew Goldberg

Edited by

Yuliya Goldshteyn

Reviewed by

Kenneth Chavis IV

Rates updated between March 5, 2025 and March 11, 2025

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Jumbo money market accounts are worth considering if you have at least $100,000 in cash that you wish to keep liquid and want to earn a competitive rate.

Current money market trends

Bankrate Partner average

3.73% APY

National average

0.45% APY

MMA rates are still high, but projected to go down soon.

The FED is predicted to continue lowering rates into 2025. Learn how to make the most of your money here.

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Bankrate’s picks for the top jumbo money market rates

Note: Annual percentage yields (APYs) shown are as of Jan. 7. 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 – 4.42% APY, $1,000,000.01 minimum balance for APY

First Internet Bank has been around since 1999. According to its website it was the first state-chartered online bank with Federal Deposit Insurance Corp. (FDIC) insurance.

First Internet Bank offers a Money Market Savings account. This account rewards you for having a daily balance of more than $1 million. It also pays a competitive 3.77 percent APY for balances $1 million or under.

You’ll need to keep at least $4,000 in this account to avoid paying the $5 monthly service fee.

America First Credit Union – 4.10% APY, $1,000,000 minimum balance for APY

America First Credit Union was founded in 1939. Its money market account offers different yields depending on your balance.

Members with $1 million or more in a money market account qualify for the top interest tier. And members with between $250,000 and $999,999 earn the second-highest APY of 3.70 percent.

You have a variety of options for America First Credit Union membership, including living, working, regularly doing business in, worshiping, volunteering or going to school in Salt Lake county in Utah, as well as other locations such as Maricopa County, Arizona.

Discover Bank – 3.65% APY, $100,000 minimum balance for APY

Savers need at least $100,000 to earn the money market account’s top yield. Balances under $100,000 earn a slightly lower, albeit still competitive yield. There’s no monthly service fee.

In addition to a money market account, Discover has a savings account and many terms of certificates of deposit (CDs). CDs range in terms from three months to 10 years.

Suncoast Credit Union – 3.00% APY, $500,000 minimum deposit for APY

Suncoast Credit Union was started in 1934 as Hillsborough County Teachers Credit Union. Suncoast Credit Union is the largest credit union in Florida, and in early 2022 it surpassed one million members.

Savers need at least $500,000 to earn the top yield for Suncoast Credit Union’s money market account. Some advantages of this account include no minimum balance, free overdraft protection and no transaction restrictions.

People who attend school, live, work or worship in a county in Florida that Suncoast Credit Union serves are welcome to join. In addition to meeting that requirement, you’ll also need to deposit at least $5 in a Suncoast savings account to become a member.

Navy Federal Credit Union – 2.25% APY, $1,000,000 minimum balance for APY

Navy Federal Credit Union has nearly 13 million members and is the world’s largest credit union. It has a global network of more than 360 branches. Navy Federal Credit Union has its headquarters in Vienna, Virginia.

The Jumbo Money Market Savings account requires $100,000 to open, but you’ll need $1 million to earn the highest APY. In addition to money market accounts, Navy Federal Credit Union also offers checking and savings accounts, CDs, loans and credit cards.

Membership at Navy Federal Credit Union is open to all Department of Defense and Coast Guard Active Duty, civilian, contract personnel, veterans and their families.

What is a jumbo money market account?

Like a jumbo certificate of deposit (CD), a jumbo money market account may require a higher minimum deposit and may offer a higher APY than regular money market accounts. But that’s not always the case. Compare rates on Bankrate to find the right account for your money.

A jumbo money market account may also reward you with a higher rate for higher balances.

The minimum opening deposit and balance requirements for standard money market accounts vary depending on the institution. Some don’t require a minimum amount. Others could require fees starting at $25,000 in order to secure a higher APY. Most requirements fall around $2,500.

Pros and cons of jumbo money market accounts

Pros

Just like regular money market accounts, jumbo money market accounts provide easy funds access, often with check-writing privileges and debit card access.
A jumbo money market account is insured if it’s at an FDIC bank or NCUA credit union, and it’s within the guidelines for federal insurance. The standard insurance amount for FDIC coverage is $250,000 per depositor, per insured bank, for each account ownership category.

Cons

Jumbo money market accounts usually require significant initial deposits.
Depending on your balance, a portion of your money in a jumbo money market account might not be insured under FDIC guidelines.

Jumbo money market account FAQs

Jumbo vs. traditional money market account
Jumbo money market accounts typically have a higher minimum balance requirement than traditional money market accounts, or they may reward savers with high-tier yields when a certain balance is maintained.

The ability to earn a higher rate when your balance surpasses a certain threshold may appeal to some savers.

Jumbo money market accounts vs. high-yield savings accounts
Money market accounts typically offer check-writing privileges and/or a debit card. If neither of those features are important, another savings product to consider is a high-yield savings account.

With a high-yield savings account, you may be able to earn a better APY and still enjoy the benefits of having your money stashed in a liquid account.
Jumbo money market accounts are safe as long as they’re offered at an FDIC-insured bank or an NCUA-insured credit union, protected by National Credit Union Share Insurance Fund (NCUSIF). The money deposited in the accounts is protected within FDIC and NCUA limits, which is generally up to $250,000 per depositor, per federally insured institution and per ownership category.
You generally don’t have to worry about a penalty for withdrawing your money from a jumbo money market account. But check with your financial institution to see if it has excessive transaction fees or limits on the number of withdrawals or transfers that you can make per statement cycle.

Research methodology

A money market account can be great for earning a high APY. Some accounts may let you write a limited number of checks and also offer a debit card.

Many online banks offer a more competitive yield than brick-and-mortar banks. This is because online banks don’t usually have as much overhead, since they don’t operate physical branches. Online banks need to attract your attention, and high yields are a way to do this, which is good for savers.

Choosing an FDIC-insured money market account at an online bank is a safe way to get these high-yielding APYs. Just make sure that you’re within the FDIC’s guidelines and limits.

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