You Can Get Better Yield with a Jumbo CD or Money Market Account

Maximize your savings with top-yielding jumbo accounts and high-interest savings options.

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Since the Federal Reserve started cutting short-term interest rates last September, yields on bank accounts have been falling.

Savers who have significant sums to stash away may be able to earn a little extra interest by putting their money in “jumbo” certificates of deposit or money market deposit accounts, which have larger minimum balance requirements than standard accounts but offer higher yields.

The minimum amount required to open a jumbo account varies, but usually, you’ll need to deposit at least $25,000.

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My eBanc, for example, offers an online six-month jumbo CD that recently yielded 4.5% if you have a balance of at least $50,000; otherwise, the bank’s six-month CD yields 4.35%, with a $5,000 minimum deposit.

And if you deposit at least $100,000 in My eBanc’s money market account, you get a 3.9% yield. Balances of less than $100,000 earn 3.4% (if your balance falls below $5,000, you’ll be charged a $15 monthly fee).

Justice Federal Credit Union offers a 4.21% yield on a 12-month CD if you deposit at least $100,000. (This jumbo CD is not in the table below because we assume a smaller deposit when listing those accounts.)

Otherwise, its 12-month CD yields 4.10%. Anyone can become a member of Justice FCU by joining a qualifying association.

The Federal Deposit Insurance Corporation and the National Credit Union Share Insurance Fund provide up to $250,000 in insurance per depositor against the failure of a bank or credit union.

If your combined balances in deposit accounts would exceed the limit at a single institution, you may want to spread your funds among multiple banks or credit unions.

To help make the most of your savings, we’ve compiled a list of top-yielding accounts that offer competitive interest rates.

Whether you're considering a high-yield savings account, a money market account or a jumbo CD, this table provides key details, including minimum deposit requirements, current interest rates and any notable terms or conditions.

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Top-yielding savings

Taxable Money Market Mutual Funds

7-day yield as of April 30

Minimum investment

Website

Gabelli U.S. Treasury MMF (GABXX)

4.22%

$10,000

gabelli.com

AB Govt MMP (AEYXX)*

4.14%

$2,500

alliancebernstein.com

DWS Govt & Agency MF (DTGXX)*

4.23%

$1,000

fundsus.dws.com

T Rowe Price Cash Res (TSCXX)*

4.20%

$2,500

troweprice.com

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Tax-Free Money Market Mutual Funds

7-day yield as of April 30

Tax eq. yield 24%/35% bracket

Minimum investment

Website

Fidelity Municipal MMF (FTEXX)*

3.56%

4.68% / 5.48%

$1

fidelity.com

T Rowe Price Tax-Exempt MF (PTEXX)*

3.31%

4.36% / 5.09%

2,500

troweprice.com

Amer Cent T-F MMF (BNTXX)

3.29%

4.33% / 5.06%

2,500

americancentury.com

Fidelity Tax-Exempt MMF (FMOXX)*

3.71%

4.88% / 5.71%

1

fidelity.com

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Savings and Money Market Deposit Accounts

Annual yield as of April 30

Minimum amount

Website

Pibank (Fla.)?

4.60%

$0

pibank.com

Quontic Bank (N.Y.)?#

4.25%

$100

quontic.com

Brilliant Bank (Kan.)?#

4.40%

$1,000

brilliant.bank

TIMBR Financial (Minn.)?

4.40%

$1,000

timbrfinancial.com

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Certificates of Deposit

1-Year

Annual yield as of Jan. 31

Minimum amount

Website

Justice FCU (Va.)&

4.50%

$100,000

jfcu.org

EagleBank (Md.)?

4.55%

$1,000

eaglebankcorp.com

Fort Liberty FCU (N.C.)&

4.0%

$25,000

myfortlibertyfcu.org

Prime Alliance Bank (Utah)

4.45%

$500

primealliance.bank

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Certificates of Deposit

5-Year

Annual yield as of Jan. 31

Minimum amount

Website

KS StateBank (Kan.)

4.30%

$500

ksstate.bank

Lafayette FCU (Md.)&

4.28%

$500

lfcu.org

Credit Human (Texas)&‡

4.11%

$500

credithuman.com

Synchrony Bank (Utah)?

4.15%

0

synchrony.com

  • * Fund is waiving all or a portion of its expenses
  • ? Internet only
  • # Money market deposit account
  • & Must be a member; to become a member, see website or call
  • ‡ CD term is 36-59 months

Sources: Bankrate, DepositAccounts, Money Fund Report (iMoneyNet).

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Top checking accounts

Account Issuer

Annual yield as of Jan. 31 *

Balance range^

Website

Genisys CU (Mich.)&

6.75%

$0–7,500

genisyscu.org

Andrews FCU (Md.)&

5.50%

$0–$25,000

andrewsfcu.org

Affinity FCU (N.J.)&

5.50%

$0–$15,000

affinityfcu.com

Ideal CU (Minn.)&

5.00%

$0–$20,000

idealcu.com

  • * To earn the maximum rate, you must meet requirements such as using your debit card several times monthly and receiving electronic statements
  • ^ Portion of the balance higher than the listed range earns a lower rate or no interest
  • & Must be a member; to become a member, see website.

Source: DepositAccounts.

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Yield benchmarks

Benchmark

Yield as of April 30

Month ago

Year ago

U.S. Series EE savings bonds

2.70%

2.60%

2.70%

U.S. Series I savings bonds

3.98%

3.11%

5.27%

Six-month Treasury bills

4.04%

4.28%

5.18%

Five-year Treasury notes

3.77%

4.36%

3.91%

Ten-year Treasury notes

4.19%

4.58%

3.99%

As of April 30, 2025. EE savings bonds purchased after May 1, 2005, have a fixed rate of interest. Bonds purchased before May 1, 1995, earn a minimum of 4% or a market- based rate from date of purchase. Bonds bought between May 1, 1995, and May 1, 2005, earn a market-based rate from date of purchase.

Source for Treasuries: U.S. Treasury

What if a jumbo account isn’t the right fit?

If a jumbo account doesn’t align with your financial needs, there are still plenty of ways to earn competitive interest on your savings.

High-yield savings accounts, standard certificates of deposit and money market accounts offer great alternatives with lower minimum deposit requirements.

Explore some of today’s best savings accounts with the tool below, in partnership with Bankrate, to compare current interest rates:

Are jumbo accounts the right choice for your savings?

Jumbo accounts can be a smart option for big savers who want to earn higher interest rates. Whether you choose a jumbo CD or a money market account, these accounts typically offer better yields than standard savings options.

However, they also come with higher minimum deposit requirements and, in some cases, fees if your balance drops below a certain threshold.

Before committing, compare rates, terms and insurance protections to ensure a jumbo account aligns with your financial goals and provides the best return on your savings.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Ella Vincent
Staff Writer

Ella Vincent is a personal finance writer who has written about credit, retirement, and employment issues. She has previously written for Motley Fool and Yahoo Finance. She enjoys going to concerts in her native Chicago and watching basketball.