Jumbo Money Market Account for February 2021

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

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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 February 2021

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Advertiser Disclosure
Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available. *APY (Annual Percentage Yield).
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Citibank
FDIC Insured
Union Bank
FDIC Insured
USAA Bank
FDIC Insured
PNC Bank (Rate in NY)
FDIC Insured
TD Bank (Rate in NY)
FDIC Insured
US Bank (Rate in CA)
FDIC Insured
Wells Fargo Bank (Rate in NY)
FDIC Insured
Fifth Third Bank
FDIC Insured
Bank of America (Rate in NY)
FDIC Insured
Mountain View Bank of Commerce
FDIC Insured
Amboy Direct
FDIC Insured
Axos Bank
FDIC Insured
Prime Alliance Bank
FDIC Insured
BankDirect
FDIC Insured
Redneck Bank
FDIC Insured
BankPurely
FDIC Insured
Ally Bank
FDIC Insured
Western State Bank
FDIC Insured
First Internet Bank
FDIC Insured
ableBanking
FDIC Insured
American Plus Bank
FDIC Insured
Northern Bank Direct
FDIC Insured
Bank of Little Rock
FDIC Insured
All America Bank
FDIC Insured
iGOBanking
FDIC Insured
CIT Bank
FDIC Insured
Bethpage Federal Credit Union
FDIC Insured
East Boston Savings Bank
FDIC Insured
Sallie Mae Bank
FDIC Insured
State Department Federal Credit Union
FDIC Insured
Workers' Credit Union
FDIC Insured
Synchrony Bank
FDIC Insured
Quontic Bank
FDIC Insured
Navy Federal Credit Union
FDIC Insured
Geddes Federal Savings and Loan Association
FDIC Insured
Popular Bank
FDIC Insured
Blue Foundry Bank
FDIC Insured
Brunswick State Bank
FDIC Insured
Virtual Bank
FDIC Insured
Discover Bank
FDIC Insured
Zions Bank
FDIC Insured
Goldwater Bank
FDIC Insured
Centennial Bank
FDIC Insured
The Baldwin State Bank
FDIC Insured
Ridgewood Savings Bank
FDIC Insured
TAB Bank
FDIC Insured
Metro Phoenix Bank
FDIC Insured
Independent Bank
FDIC Insured
Apple Bank for Savings
FDIC Insured
ABCO Federal Credit Union
FDIC Insured
Legacy Bank
FDIC Insured
North American Savings Bank
FDIC Insured
Prosperity Bank
FDIC Insured
Needham Bank
FDIC Insured
South LaFourche Bank
FDIC Insured
Cashmere Valley Bank
FDIC Insured
Superior Credit Union
FDIC Insured
Bellevue State Bank
FDIC Insured
Solutions Bank
FDIC Insured
Bank of The Valley
FDIC Insured
IncredibleBank
FDIC Insured
UFB Direct
FDIC Insured
Susquehanna Community Bank
FDIC Insured
OneWest Bank
FDIC Insured
Viking Bank
FDIC Insured
Cornhusker Bank
FDIC Insured
Crossroads Bank (crossroadsbank.com)
FDIC Insured
PNB Community Bank
FDIC Insured
Wells River Savings
FDIC Insured
BankFive
FDIC Insured
Wings Financial Credit Union
FDIC Insured
Savers Bank
FDIC Insured
Presidential Bank
FDIC Insured
City National Bank
FDIC Insured
MemoryBank
FDIC Insured
Sterling Bank and Trust
FDIC Insured
Rhinebeck Savings Bank
FDIC Insured
Allied First Bank
FDIC Insured
Think Mutual Bank
FDIC Insured
Bank of Botetourt
FDIC Insured
Community Bank (cbbristow.com)
FDIC Insured
Community Bank of Trenton
FDIC Insured
MidwestOne Bank
FDIC Insured
Columbia Bank (columbiabankonline.com)
FDIC Insured
KS StateBank
FDIC Insured
Pioneer Bank
FDIC Insured
Institution for Savings
FDIC Insured
American Bank
FDIC Insured
Crossroads Bank (crossroadsbanking.com)
FDIC Insured
Armed Forces Bank
FDIC Insured
United Federal Credit Union
FDIC Insured
Main Street Bank
FDIC Insured
Citizens State Bank Norwood Young America
FDIC Insured
Intrust Bank
FDIC Insured
The Adirondack Trust Company
FDIC Insured
The Commercial Bank
FDIC Insured
Coleman County State Bank
FDIC Insured
Commercial Bank and Trust of Pennsylvania
FDIC Insured
Windsor Federal Savings and Loan Association
FDIC Insured
NexBank, SSB
FDIC Insured

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. 

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