Best jumbo money market rates for February 2024
Best available rates across different account types for Wednesday, February 28, 2024
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What To Know First
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.
Bankrate's picks for the top jumbo money market rates
- First Internet Bank: 5.48% APY; $1,000,000.01 minimum balance for APY
- America First Credit Union: 4.60% APY; $1,000,000 minimum balance for APY
- Discover Bank: 4.20% APY; $100,000 minimum balance for APY
- Suncoast Credit Union: 3.00% APY; $500,000 minimum balance for APY
- Navy Federal Credit Union: 2.25% APY; $1 million minimum balance for APY
Note: Annual percentage yields (APYs) shown are as of Feb. 19, 2024. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only Federal Deposit Insurance Corp. (FDIC) banks or National Credit Union Administration (NCUA) credit unions in its listings.
The following accounts can be found at most banks and credit unions. They’re federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
Certificate of Deposit (CD)
CDs are best for individuals looking for a guaranteed rate of return that’s typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings / Money Market Accounts (MMA)
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They’re a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.