Ascencia Bank offers one of the highest money market rates available at a 5.35% APY. However, this comes with the caveat that a minimum balance of $100,000 is required. Here’s some of the small print:

• An Initial Deposit of $1,000 is required to open this account
• A below balance fee of $5.00 will be imposed each monthly statement cycle in which the balance in the account on any day for the monthly statement cycle falls below $1,000
• Interest will begin to accrue when signed application, with a copy of US Government issued photo ID for all signers is received, paperwork is processed and funds are collected
• We do not accept credit card convenience checks for deposit
• If you close your account before the end of a statement cycle, you will not receive interest for that statement cycle
• Withdrawals are limited to a total of 6 per monthly statement cycle via transfer or check; of these a maximum of 3 checks per statement cycle is allowed
• A fee of $15 is assessed for additional withdrawals
• If this withdrawal limitation is exceeded for 2 consecutive months or 3 times in a year, account will be changed to an Interest Checking account

Ascencia Bank is FDIC Insured.