Compare jumbo savings accounts and interest rates from hundreds of banks to help maximize your earnings.
Jumbo savings accounts pay higher interest rates than regular savings accounts, making these accounts more attractive to serious savers. To benefit from high interest jumbo savings accounts, institutions traditionally required a high minimum deposit to open with a minimum balance requirement.
However, some banks are relaxing these standards and it is now possible to find a regular savings account paying the equivalent of jumbo savings account rates that has no minimum deposit to open or minimum balance requirement. It’s a matter of doing the research to find the best interest rates and terms before you open your account.
MoneyRates.com regularly monitors more than 300 savings account products, featuring some of the best interest rates for easy comparison. Here’s our methodology.
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To get the most out of their deposits, consumers should understand the differences between money market accounts and savings accounts.
Withdrawals on money market accounts may be limited to a certain number per month, typically between three and six, and check-writing ability is also limited. Account holders can make unlimited withdrawals per month on a savings account. But if you're depositing a large sum into a jumbo savings account to earn higher bank rates, you probably aren't going to be making a lot of withdrawals.
Check out our rates for savings and money market accounts to find the best bank for you.