The field of Spintronics uses a spin-dependent current to control the electron spin. Magnetic tunnel junctions (MTJs) are essential in spintronics because of their wide range of applications, especially their great scaling ability, fast write speeds, and high relative magnetoresistances. The performance of MTJ devices based on a single MgO barrier is poor compared to a double barrier layer. The lead free double perovskite materials can be used to enhance the performance and stability of MTJ. In this paper, perovskite materials (Cs2CuBiCl6, Cs2CuBiF6, and Cs2CuBiI6) are added to the MgO dielectric layer to form a Penta layer MTJ. The MTJ device performance parameters, such as tunneling magnetoresistance (TMR), differential resistance, antiparallel and parallel resistance, and differential TMR, with these materials as composite dielectrics, have been investigated using the non-equilibrium Green’s function (NEGF) simulator. The TMR (%) of Fe-MgO- Cs2CuBiF6 - Fe-MgO-based MTJ devices at room temperature is 1307%. The implementation of the magnetoresistance random access memory based on the suggested MTJ model has been demonstrated using the LTspice. The power dissipation of the Fe-MgO- Cs2CuBiF6- MgO-Fe-based MTJ model is low as compared to the other two double perovskite-based MTJ models. Hence, MTJ memory devices with composite dielectrics based on Cs2CuBiF6 perform better.
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