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Jumbo Money Market Account May 2019

Compare jumbo money market accounts and interest rates from hundreds of banks to help maximize your earnings.

MoneyRates.com regularly monitors more than 400 money market account products, featuring some of the best interest rates for easy comparison. Here’s our methodology.

What is a money market account?

Jumbo money market accounts can be effective for savers who want to earn higher interest rates while maintaining some measure of liquidity. Historically, these accounts required a minimum opening deposit of $100,000 in exchange for their best interest rate -- hence the term “jumbo.” But more recently, some banks have relaxed this requirement, making them more competitive with high yield savings accounts.

Money market accounts typically offer limited check-writing ability or debit-card access to funds, making liquidity a chief advantage over other types of savings accounts and CDs. And while jumbo MMAs are not meant to be used as a checking account, sometimes liquidity is important.

It is critical to do your research before opening a jumbo MMA because interest rates, account features, and fees vary widely from one financial institution to another. Search for the highest interest rate possible -- but also compare minimum opening deposit requirements, whether interest is compounded daily, and fee structure.

Best jumbo money market accounts in 2019

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BBVA MMA
FDIC Insured
Rates as of 5/23/2019
2.40% APY
FDIC Insured
Rates as of 5/23/2019
Start Saving
Capital One
FDIC Insured
Rates as of 5/23/2019
2.00% APY
FDIC Insured
Rates as of 5/23/2019
Start Saving
All America Bank
Rates as of 2019-05-22
Western State Bank
Rates as of 2019-05-23
iGOBanking
Rates as of 2019-05-12
Min. to earn APY
$25000
UFB Direct
Rates as of 2019-05-23
Min. to earn APY
$25000
MemoryBank
Rates as of 2019-05-13
Min. to earn APY
$0.01
Sallie Mae Bank
Rates as of 2019-05-18
Northpointe Bank
Rates as of 2019-05-14
Min. to earn APY
$25000
BankPurely
Rates as of 2019-05-22
Min. to earn APY
$100000
BankPurely
Rates as of 2019-05-22
Min. to earn APY
$75000
BankPurely
Rates as of 2019-05-22
Min. to earn APY
$25000
Beal Bank, USA
Rates as of 2019-05-22
Min. to earn APY
$25000
Wells Fargo Bank (Rate in NY)
Rates as of 2019-05-23
Min. to earn APY
$25000
NexBank, SSB
Rates as of 2019-05-14
Min. to earn APY
$25000
First Internet Bank
Rates as of 2019-05-09
Beal Bank
Rates as of 2019-05-22
Min. to earn APY
$25000
Mutual of Omaha Bank
Rates as of 2019-05-14
Min. to earn APY
$1000
Discover Bank
Rates as of 2019-05-09
Min. to earn APY
$100000
Discover Bank
Rates as of 2019-05-09
ableBanking
Rates as of 2019-05-22
CIT Bank
Rates as of 2019-05-22
Min. to earn APY
$100
MyBankingDirect
Rates as of 2019-05-14
Min. to earn APY
$25000
NexBank, SSB
Rates as of 2019-05-14
Min. to earn APY
$5000
Eastern Bank
Rates as of 2019-05-09
Min. to earn APY
$10000
Chesapeake Bank
Rates as of 2019-05-22
Min. to earn APY
$1000
East Boston Savings Bank
Rates as of 2019-05-09
Min. to earn APY
$10000
BankDirect
Rates as of 2019-05-22
Min. to earn APY
$10000
The Huntington National Bank (Rate in OH)
Rates as of 2019-05-22
Min. to earn APY
$25000
Armed Forces Bank
Rates as of 2019-05-22
Min. to earn APY
$10000
Northern Bank Direct
Rates as of 2019-05-14
MyBankingDirect
Rates as of 2019-05-14
Min. to earn APY
$5000
American Eagle Bank of Chicago
Rates as of 2019-05-22
Min. to earn APY
$50000
BankNewport
Rates as of 2019-05-22
Min. to earn APY
$0.01
KS StateBank
Rates as of 2019-05-13
Min. to earn APY
$25000
Superior Credit Union
Rates as of 2019-05-18
Min. to earn APY
$100000
NexBank, SSB
Rates as of 2019-05-14
Min. to earn APY
$1000
IberiaBank
Rates as of 2019-05-12
Min. to earn APY
$25000
Superior Credit Union
Rates as of 2019-05-18
Min. to earn APY
$25000
Zions Bank
Rates as of 2019-05-23
Min. to earn APY
$25000
Zions Bank
Rates as of 2019-05-23
Min. to earn APY
$5000
Zions Bank
Rates as of 2019-05-23
Min. to earn APY
$1000
BMO Harris Bank
Rates as of 2019-05-22
Min. to earn APY
$250000
Allied First Bank
Rates as of 2019-05-22
Min. to earn APY
$2000
Apple Bank for Savings
Rates as of 2019-05-22
Min. to earn APY
$2500
Customers Bank
Rates as of 2019-05-22
Min. to earn APY
$250001
KS StateBank
Rates as of 2019-05-13
Min. to earn APY
$2500
Coastal Heritage Bank
Rates as of 2019-05-22
Min. to earn APY
$10000
Arvest Bank
Rates as of 2019-05-22
Min. to earn APY
$10000
Synchrony Bank
Rates as of 2019-05-18
Min. to earn APY
$25000
Synchrony Bank
Rates as of 2019-05-18
Min. to earn APY
$5000
Rates / Annual Percentage Yield terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts, some of which have paid for a link to their website. Bank, thrift and credit unions are member FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.

Jumbo money market accounts vs. Jumbo CDs

One advantage a jumbo money market account has over a jumbo CD is liquidity – your money is available at any time whereas money invested in a jumbo CD has to remain there for the term of the CD (6 months, 1 year, 5 years or longer) in order to avoid early withdrawal penalties. If you do withdraw money from a jumbo account, though, you may be subject to fees if the balance goes below $100,000.

Accessibility to your funds is another reason to choose a jumbo money market account for your deposits. A jumbo account may come with the ability to write checks – although not all banks offer this. As with any financial vehicle, be sure to look at all of the terms and conditions of an account before you deposit your money. 

Best jumbo money market account rates found by users like you

Have you found better jumbo money market account rates than those displayed above? If so, please share them with us and other MoneyRates users!

Give us the details – please include the name of the bank, when you opened the account and whether the account can be opened online or only in the branch (if the latter, please include the location of the branch). Thank you! 

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