Current Jumbo Deposit Account Rates
With a minimum balance of $100,000
With a minimum balance of $230,000
With a minimum balance of $.01
High-yield savings made simple & secure
Our Jumbo Deposit Account is an interest bearing, personal high-yield savings account with flexible options to ensure deposits up to $7 million can be fully FDIC insured. To learn more about our Jumbo Deposit Account, see the page: Jumbo Deposit Account FAQs.
Deposits insured by the FDIC to the maximum allowed by law. Talk to a banker to discuss options to insure funds up to $7M, including IntraFi Cash Service® (also known as Insured Cash Sweep or ICS). Application is required to participate in ICS.
Minimum Balance: $0.01
Interest: Compounded and credited monthly
Questions about our Jumbo Deposit Account? Call us at 800-344-7048
This is an all-electronic high-yield savings account that must be managed online. No checks or debit cards are available with this account. No maturity date; no early withdrawal penalty.
You are allowed six (6) withdrawals, of any type, per month. Any month you exceed this number, you will be charged a $30.00 service charge.
$15 per month fee if paper statements are mailed through the US Mail. $30 wire transfer fee waived for one outgoing domestic wire transfer per month. Unlimited incoming domestic wires at no charge.
$7M FDIC-insured limit applies to customer’s entire deposit relationship with Heritage Bank NA.
No financial institutions or brokers.
1APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened.
Interest Rates Effective Since May 1, 2023.
Jumbo Savings Account
Are you looking for a safe and secure place to put your hard-earned money, a financial savings plan that is so secure, it practically guarantees success? Look no further than our Jumbo high-yield savings account.
Not only will you get a great interest rate and return on your investment, but you’ll also have the comfort of knowing that your money is safe with FDIC insurance. So, what are you waiting for? Start investing in your future today with our Jumbo high-yield savings and FDIC insured account! It’s a winning combination that just doesn’t get any safer or better. Get started now!
What is FDIC Insured?
If you’ve ever heard the phrase FDIC Insured, you probably know it has something to do with banking. But what is it really? Well, FDIC stands for Federal Deposit Insurance Corporation, and it’s a government program that guarantees your deposits in case the bank fails.
The FDIC is an important entity not just for bankers but for regular people too. Its mission is to protect our money and provide assurance that it will be available even if banks fail or declare bankruptcy. The benefits are vast and far-reaching: from deterring a possible financial collapse to shielding deposits from bank-wide natural disasters, the FDIC is your one-stop shop for safe and secure banking solutions. So why not take advantage of this extra layer of security and make sure your hard-earned money is safe?
A Jumbo high-yield savings and FDIC insured account makes it easy to get your money working for you. When you bank with a FDIC insured financial institution like Heritage Bank NA, your money earns interest over time. The Jumbo FDIC insured account gives you peace of mind knowing that your investment is growing steadily with each passing day. So why wait? Start investing in your future today and reap the rewards tomorrow!
How Does FDIC Insurance Work?
FDIC insurance works in a rather simple and straightforward way. It provides peace of mind for bank customers who want to ensure their deposits are safe. If your money is held at an FDIC-insured bank like Heritage Bank NA, you can rest easy knowing it’s protected against losses due to failure or insolvency of the institution. This provides comfort that even if the worst-case scenario occurs, you’ll still receive your money back. And that’s sure to bring a smile to any worried depositor!
Additionally, the FDIC covers joint accounts and retirement accounts such as IRAs and Keoghs up to $250,000 combined per ownership category. This protection applies whether you have one account or multiple accounts at an FDIC-insured institution. To qualify for this coverage, your deposits must be in an account that is eligible for FDIC insurance and not exceed the maximum amount covered by the plan.
Are All Banks FDIC Insured?
At first glance, the answer might seem like a no-brainer. After all, it’s in the name – Federal Deposit Insurance Corporation, so surely all banks have this coverage, right? Well, not so fast! Not all banks are FDIC insured. The only banks that can call themselves “FDIC insured” are those like Heritage Bank NA, who have been approved by the FDIC and meet their standards of safe banking practices.
How We Help You Secure More Than Standard FDIC Insurance Limits
Now that we’ve established why FDIC-insured accounts are important, let’s look at how you can maximize the benefits available to you. We use what is called – IntraFi Cash Service® (also known as Insured Cash Sweep or ICS). First and foremost, be sure you understand how the IntraFi Cash Service® works. This service places funds up to $250,000 with different FDIC insured banks through the ICS network. Yet, you receive one consolidated statement and interest payments through Heritage Bank NA. By doing this, it allows you to increase the amount of money that can be protected by FDIC insurance limits up to the maximum allowable limit. That way, if something were to happen to one account, all your money would remain insured.
So, when it comes time to stash some cash, make sure it’s in an FDIC-insured account – it’s the smart choice! Your money will be safe and sound with the assurance that comes from knowing you’re protected by FDIC insurance. That’s peace of mind you can count on!
Do you feel like confusion is your middle name when it comes to banking and finances? Don’t worry – the FDIC Calculator is here to help make sense of all the numbers! With this handy tool, you can easily see how much money you’d be eligible for in a bank failure. It’s just one more way we can empower you to make informed financial decisions. So don’t panic – let the FDIC Calculator take away some of that stress and answer your questions about safety in banking. After all, knowledge is power! Get empowered today with the FDIC Calculator.
Jumbo Account & FDIC Insurance for Business Accounts
When it comes to your business savings account, you want to make sure that your money is safe and secure. Choose a Jumbo Business Savings Account with FDIC insurance. Jumbo Business Accounts offer FDIC insured deposits to give businesses of all sizes the peace of mind they need. With IntraFi Cash Service® and coverage up to $7 million, you can rest assured knowing your money is always safe with us. Plus, with no minimum balance requirement or monthly fees, our jumbo accounts are the perfect way for businesses to store their funds securely and conveniently! So don’t settle for anything less — open a Jumbo Business High-Yield Savings Account today and be confident in knowing your business finances are protected!