Best jumbo money market rates for April 2026

Bankrate’s picks for the top jumbo money market rates

Note: Annual percentage yields (APYs) shown are as of Nov. 11. Bankrate's editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes in its lists only banks that are members of the Federal Deposit Insurance Corp. (FDIC) or credit unions insured by the National Credit Union Administration (NCUA).

A jumbo money market account is a type of savings account that requires at least $100,000 minimum deposit to earn a certain APY. It may also reward you with a higher rate for even higher balances.

Why $100,000? Well, for 30 years from 1980 to 2010, FDIC insurance limits were capped at $100,000. So banks offered a higher yield for balances above the limit as a way to entice people to deposit more. The higher yield was compensation for the relatively low risk of keeping uninsured funds in the bank, says Greg McBride, CFA, Bankrate chief financial analyst.

These days, many jumbo money market accounts still offer high rates for deposits above federal insurance limits, but — depending on the APY — you may not be getting compensated enough to take the risk. You can usually find more competitive rates at high-yield money market accounts that often pay the same strong yield for all balances. 

If you’re worried about putting your savings into an account that will run up against federal insurance limits, or you want to shop around for higher yields, you have options.

Regular money market accounts

You can likely find higher — or on par — yields at a high-yield money market account that pays the same amount on all balances, whether you have $100 or $100,000. You can even find a regular money market account that pays a high APY and offers higher FDIC insurance limits. For example, BankPurely’s PurelyInsuredMoneyMarket pays 3.75% APY and offers up to $2,750,000 in FDIC insurance. 

High-yield savings accounts

If you want to see more high yields on your savings, you can look to the best high-yield savings accounts instead of money market accounts. Both give you easy access to your savings for emergencies or other uses, though you likely won’t get debit card or check-writing privileges with a savings account. Right now, the yields on high-yield savings accounts are outpacing many of the best money market accounts, though you may find some money market accounts are ahead by a small amount. 

Cash management accounts

Cash management accounts are a type of hybrid checking and savings account, usually offered by brokerages. 

With the best cash management accounts, you’ll see high rates of return and higher FDIC insurance limits. For example, Wealthfront’s Cash Management account offers up to a 4.15% APY, instant withdrawals and up to $8 million in FDIC insurance by sweeping your funds to partner banks.

Money market funds

Money market funds, also called money market mutual funds, are an investment option akin to a savings account, offered by brokerage firms. While these mutual funds are not FDIC-insured like deposit accounts, they invest in ultra-low-risk and short-term investments, including U.S. Treasury bills and corporate bonds. 

Your yields in these funds will vary, but they can be higher than what you’d earn with a jumbo money market account. And it’s easy to take your money out when you need it. Plus, some money market funds offer tax benefits because they hold securities that are exempt from federal taxes. 

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best jumbo money market accounts, we regularly survey the rates from the banks and credit unions that offer this specialty account.

We define a jumbo money market account as an account that offers a different APY for deposits over $100,000. If a bank calls its account “jumbo” but offers the same APY regardless of the balance, we do not consider it a jumbo money market account even if it is marketed as one.

The banks and credit unions on this page are selected based on the current APY they offer for their highest balance tier. Learn more about how we choose the best banking products and our methodology for reviewing banks.