How to invest $2.6 million at a 5.25% APY

26 banks are reporting money market accounts (MMA) with an APY (annual percentage yield) of 5.25% or higher available to online investors through each bank’s website. Investing in each bank individually at the FDIC-insurance limit of $100,000 per acount could theoretically allow an individual investor to earn 5.25% on $2.6 million dollars while keeping their funds completely liquid. In some cases the banks are offering the attractive money market yields as an introductory offer and the yield can be lowered by the bank after a set time period, but in such cases a new online bank can always be found with an attractive yield. Despite not having the fixed rate component of a bond or a CD, the bank money market accounts listed below are investments which offer yields higher than U.S. Treasuries and have limited check-writing privileges. If you have $2.6 million dollars to park for a short time period and would like to earn 5.25% or higher, then keep reading.

The banks listed below are all FDIC-insured.

BANK / MMA RATE / MMA YIELD / MINIMUM DEPOSIT

everBank*, 5.84%, 6.01%, $1
Evergreen Private Bank, 5.60%, 5.75%, $25,000
Zions Bank, 5.36%, 5.50%, $1,000
National Bank of Kansas City, 5.35%, 5.50%, $500,000
Tennessee Commerce Bank, 5.30%, 5.43%, $250,000
Ascencia Bank, 5.27%, 5.40%, $100,000
AmTrust Direct, 5.22%, 5.36%, $1,000
Nexity Bank, 5.21%, 5.35%, $50,000
UFB Direct, 5.18%, 5.31%, $1
Flagstar Bank, 5.18%, 5.30%, $1
GMAC Bank, 5.16%, 5.30%, $500
iGObanking.com, 5.16%, 5.30%, $1
Resource Bank, 5.15%, 5.27%, $100,000
Stearns Bank, 5.14%, 5.27%, $50,000
Apple Bank, 5.14%, 5.27%, $1
Wilmington Trust, 5.13%, 5.26%, $1
Appalachian Community Bank, 5.12%, 5.25%, $50,000
E-Loan, 5.12%, 5.25%, $1
Excel National Bank, 5.12%, 5.25%, $1
KeyDirect, 5.12%, 5.25%, $1
Imperial Capital Bank, 5.12%, 5.25%, $25,000
Security Savings Bank, 5.12%, 5.25%, $100
Countrywide Bank, 5.11%, 5.25%, $50,000
Ravenswood Bank, 5.11%, 5.23%, $50,000
Advanta Bank, 5.07%, 5.20%, $50,000
Discover Bank, 5.07%, 5.20%, $50,000

A complete list of money market rates with links is available here