Jumbo Physician Savings Account

Jumbo Deposit

Savings Account


  • Maximize your savings potential with an interest-bearing account
  • Enjoy full FDIC insurance beyond the standard limit with Insured Cash Sweep
  • Enjoy peace of mind knowing your funds are safe and secure


One Rewarding Savings Account

Our Jumbo Deposit Savings Account2 comes with a range of features that keep your savings secure and growing. You can rest easy knowing that your deposits are:

  • Safe: Your deposits are insured by the FDIC to the maximum allowable by law. For deposits that exceed the standard FDIC limit3, an Insured Cash Sweep application is required to extend FDIC insurance coverage.
  • Accessible: Low minimum opening deposit of $1,000.00 with a minimum balance requirement of only $0.01!
  • Growing: Interest is compounded and credited monthly, ensuring steady growth over time.

Don’t wait any longer to manage your significant savings. Sign up or learn more about our secure and flexible Jumbo Deposit Savings Account today!

  1. APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened.
  2. This is an all-electronic account that must be managed online. No checks or debit cards are available with this account. No maturity date; no early withdrawal penalty. $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. 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. No financial institutions and brokers.
  3. FDIC-insured limit applies to customer’s entire deposit relationship with Physician Bank. FDIC insured cash sweep is subject to additional terms and conditions.

Jumbo Deposit rates effective as of April 1, 2024.

2.04% APY1
With a minimum balance of $100,000
4.25% APY1
With a minimum balance of $2,000,000
3.02% APY1
With a minimum balance of $230,000
1.01% APY1
With a minimum balance of $.01

Click on a Minimum Balance above to View Rate

Important Information

Procedures for Opening an Account Mandated by the USA PATRIOT ACT

To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT ACT, a Federal law, requires all financial institutions to obtain, and record information that identifies each person who opens an account.

What this means for you:

When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.


We offer a great feature with our Jumbo Deposit Savings Account for customers just like you. We have partnered with Promontory Interfinancial Network LLC to offer a product called Insured Cash Sweep (ICS).  This program allows participating banks across the United States to electronically transfer (sweep) money between member banks to ensure every customer with an ICS account is fully FDIC insured. When you are completing the Jumbo Deposit Account application, you will be given the opportunity to apply for an ICS account, too. After you complete the application for your ICS account, we’ll get your ICS account established in the Promontory program. When you make deposits into your JDA, we electronically sweep money from your JDA to your ICS account to be deposited with other banks participating in this program. The convenience is that you don’t need to manage multiple accounts or multiple banks to get additional FDIC coverage… you can manage all of your money with Heritage Bank.

There is no minimum balance requirement, but larger deposits earn higher interest rates.

The Jumbo Deposit Account is actually a money market account. When you log in to Digital Banking to see your account, your Jumbo Deposit Account will show up as a checking account, which is how money market accounts appear in our system.

More Jumbo Deposit FAQs


Brandie Wenham

NMLS #634982


M: (605) 640-5888
O: (712) 986-7077
Linkedin Profile for Brandie
Brandie Wenham For Jumbo Deposit Savings Account
New! 4.04% APY* on checking.
*APY = Annual Percentage Yield

Accessibility Toolbar

Payroll Plus Checking Account

*APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened. Rate applies to balances between $0.01 and $100,000

To earn 4.04%, you must:

  1. Have at least $5,000 in direct deposit each month from payroll, social security, investment income, or other forms of monthly income.
  2. Have monthly debit card purchases posted to your account equaling a minimum of $500. Please note that ATM transactions do not count toward the debit card purchase requirement.
  3. Enroll and receive monthly eStatements. With eStatements, you must have a valid email address to enroll. $4 per month fee applies if not enrolled in eStatements and paper statements are sent through U.S. Mail.

Payroll Plus Rates effective as of April 1, 2024. Minimum opening deposit of $100.