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Best Jumbo CD Rates for December 2024: Up to 4.85% By Sabrina Karl
Full Bio
Sabrina Karl has over two decades of experience writing about savings, CDs, and other banking topics. She is currently a staff writer at Investopedia and one of the country's top experts on how to earn as much as possible on the money you hold in the bank. She previously wrote for Bankrate.com, CreditCards.com, DepositAccounts.com, and RateSeeker. Learn about our editorial policies Updated December 12, 2024 Reviewed by Michael J Boyle
Reviewed by Michael J Boyle Full Bio Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Learn about our Financial Review Board Fact checked by Brian Abbott
Fact checked by Brian Abbott Full Bio
Brian Abbott is a proven editor with years of experience researching and reporting on financial data, including personal banking products such as CDs and checking/savings accounts. Learn about our editorial policies
If you have a large amount of money to deposit, today’s best jumbo CD rate is 4.85% APY, offered by Quorum Federal Credit Union and GTE Financial. Most jumbo certificates of deposit require a minimum deposit of $100,000, though some jumbos can be opened with $50,000. All CDs and rates in our rankings were collected, verified, and available to open as of Dec. 12, 2024.
Before you open a jumbo CD, consider this: They don’t always pay a higher rate than standard CDs. Often, you can find a top-paying standard CD with a higher annual percentage yield (APY) than what the best jumbo CD in that term is paying. So it’s always smart to shop our daily ranking of the best regular CD rates and the best jumbo CDs.
To help you find the best rates, we’ve been tracking CDs from hundreds of nationally available banks and credit unions every weekday since 2019. All are federally insured by FDIC or NCUA. Our resulting daily ranking gives you multiple options in each term, along with details on each CD minimum deposit and early withdrawal penalty policy. Below are CD offers available from our partners, followed by our ranking of the best nationwide jumbo rates.
Open a New Account Advertiser Disclosure × The offers that appear in this table are from partnerships from which we receive compensation. For more details, see our full advertiser disclosure. Institution Apy Min. To Earn Apy Highlights Open a New Account Advertiser Disclosure × The offers that appear in this table are from partnerships from which Dotdash receives compensation.
| BEST NATIONAL JUMBO CDs | |||
|---|---|---|---|
| Ranked by highest APY, then shortest term, then lowest minimum | |||
| Best 3-Month Jumbo CDs | Rate | Term | Minimum |
| CD Bank | 4.11% APY | 3 months | $100,000 |
| Luana Savings Bank | 4.01% APY | 3 months | $100,000 |
| Teachers Federal Credit Union | 4.00% APY | 2 months | $100,000 |
| Best non-Jumbo option: PonceBankDirect | 4.85% APY | 3 months | $500 |
| Best 6-Month Jumbo CDs | Rate | Term | Minimum |
| Quorum Federal Credit Union | 4.85% APY | 9 months | $100,000 |
| My eBanc | 4.80% APY | 6 months | $50,000 |
| Finworth | 4.75% APY | 6 months | $50,000 |
| Best non-Jumbo option: Nuvision Credit Union | 5.50% APY | 8 months | $1,000 |
| Best 1-Year Jumbo CDs | Rate | Term | Minimum |
| GTE Financial | 4.85% APY | 12 months | $100,000 |
| Tampa Bay Federal Credit Union | 4.75% APY | 12 months | $100,000 |
| Signature Federal Credit Union | 4.75% APY | 13 months | $100,000 |
| Best non-Jumbo option: Signature Federal Credit Union | 4.65% APY | 13 months | $500 |
| Best 18-Month Jumbo CDs | Rate | Term | Minimum |
| All In Credit Union | 4.49% APY | 18 months | $100,000 |
| State Department Federal Credit Union | 4.47% APY | 15 months | $100,000 |
| My eBanc | 4.40% APY | 18 months | $50,000 |
| Best non-Jumbo option: XCEL Federal Credit Union | 4.50% APY | 18 months | $500 |
| Best 2-Year Jumbo CDs | Rate | Term | Minimum |
| Quorum Federal Credit Union | 4.35% APY | 24 months | $100,000 |
| My eBanc | 4.25% APY | 24 months | $50,000 |
| Veridian Credit Union | 4.20% APY | 21 months | $100,000 |
| Best non-Jumbo option: Credit Human | 4.30% APY | 18–23 months | $500 |
| Best 3-Year Jumbo CDs | Rate | Term | Minimum |
| All In Credit Union | 4.13% APY | 36 months | $100,000 |
| EFCU Financial | 4.10% APY | 30 months | $100,000 |
| Luana Savings Bank | 4.09% APY | 30 months | $100,000 |
| Best non-Jumbo option: Credit Human | 4.25% APY | 24–35 months | $500 |
| Best 4-Year Jumbo CDs | Rate | Term | Minimum |
| All In Credit Union | 4.07% APY | 48 months | $100,000 |
| Grow Financial Federal Credit Union | 4.02% APY | 48–59 months | $100,000 |
| Heartland Credit Union | 4.00% APY | 48 months | $100,000 |
| Best non-Jumbo option: Popular Direct | 4.15% APY | 48 months | $10,000 |
| Best 5-Year Jumbo CDs | Rate | Term | Minimum |
| Grow Financial Federal Credit Union | 4.02% APY | 48–59 months | $100,000 |
| Credit One Bank | 4.00% APY | 60 months | $100,000 |
| All In Credit Union | 3.97% APY | 60 months | $100,000 |
| Best non-Jumbo option: Popular Direct | 4.25% APY | 60 months | $10,000 |
The offers on this list require a minimum deposit of $50,000 or more, though the majority of the top-paying jumbo CDs require $100,000. In cases where more than one institution pays the same top rate, we’ve prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name.
Going with a jumbo CD may not always mean you get a higher rate. It's important to compare jumbo CDs with regular CDs when looking for the highest rate. Regular CDs also come with a lower minimum deposit, making them more accessible.
Why aren't jumbo CD rates always better than standard rates? The answer is that they generally are better than standard rates within the same institution—meaning a bank will generally put a higher rate on the jumbo CDs in its menu. However, a lot more banks and credit unions offer standard CDs than jumbo CDs, with many institutions not offering jumbo CDs at all. So sometimes banks and credit unions that only have standard CDs are paying the highest nationwide rate, beating the top rates from jumbo-offering institutions.
Further details on the top-paying jumbo certificate in every term are outlined below, complete with information on minimum deposits, early withdrawal penalties, and, where applicable, how you can join the credit union.
Best 3-month jumbo CD: CD Bank – 4.11% APY
- Term: 3 months
- Minimum deposit: $100,000
- Early withdrawal penalty: 3 months of interest
- Overview: CD Bank is the online division of TBK Bank, a subsidiary of Triumph Financial.
- Rate verified as of Dec. 12, 2024
Best 6-month jumbo CD: Quorum Federal Credit Union – 4.85% APY
- Term (months): 9
- Minimum deposit: $100,000
- Early withdrawal penalty: 3 months of interest
- Overview: Anyone can join Quorum by signing up for a free membership in the nonprofit American Consumer Council and keeping at least $5 in a savings account. Quorum FCU was founded in 1934 and is headquartered in New Jersey.
- Rate verified as of Dec. 12, 2024
Best 1-year jumbo CD: GTE Financial – 4.85% APY
- Term (months): 12
- Minimum deposit: $100,000
- Early withdrawal penalty: 3 months of interest
- Overview: Anyone can join GTE Financial by agreeing to a $10 one-time membership in CU Savers and keeping $5 or more in a savings account. GTE Financial was established in 1935 and is headquartered in Tampa, Florida.
- Rate verified as of Dec. 12, 2024
Best 18-month jumbo CD: All In Credit Union – 4.47% APY
- Term (months): 18
- Minimum deposit: $100,000
- Early withdrawal penalty: 3 months of interest
- Overview: Anyone can join All In by signing up for a free membership in the Fort Rucker/Wiregrass Chapter of the Association of United States Army, keeping at least $5 in a savings account, and paying a one-time fee of $1. All In Credit Union was established in 1966 at Fort Rucker in Alabama as Army Aviation Center Federal Credit Union to serve soldiers and their families stationed there.
- Rate verified as of Dec. 12, 2024
Best 2-year jumbo CD: Quorum Federal Credit Union – 4.35% APY
- Term (months): 24
- Minimum deposit: $100,000
- Early withdrawal penalty: 6 months of interest
- Overview: Anyone can join Quorum by signing up for a free membership in the nonprofit American Consumer Council and keeping at least $5 in a savings account. Quorum FCU was founded in 1934 and is headquartered in New Jersey.
- Rate verified as of Dec. 12, 2024
Best 3-year jumbo CD: All In Credit Union – 4.13% APY
- Term (months): 36
- Minimum deposit: $100,000
- Early withdrawal penalty: 3 months of interest
- Membership: Anyone can join All In by signing up for a free membership in the Fort Rucker/Wiregrass Chapter of the Association of United States Army, keeping at least $5 in a savings account, and paying a one-time fee of $1. All In Credit Union was established in 1966 at Fort Rucker in Alabama as Army Aviation Center Federal Credit Union to serve soldiers and their families stationed there.
- Rate verified as of Dec. 12, 2024
Best 4-year jumbo CD: All In Credit Union – 4.07% APY
- Term: 48 months
- Minimum deposit: $100,000
- Early withdrawal penalty: 3 months of interest
- Overview: Anyone can join All In by signing up for a free membership in the Fort Rucker/Wiregrass Chapter of the Association of United States Army, keeping at least $5 in a savings account, and paying a one-time fee of $1. All In Credit Union was established in 1966 at Fort Rucker in Alabama as Army Aviation Center Federal Credit Union to serve soldiers and their families stationed there.
- Rate verified as of Dec. 12, 2024
Best 5-year jumbo CD: Grow Financial Federal Credit Union – 4.02% APY
- Term (months): 48–59
- Minimum deposit: $100,000
- Early withdrawal penalty: 6 months of interest
- Overview: Membership is available to anyone nationwide. Grow Financial was chartered in 1955 and is headquartered in Tampa, Florida.
- Rate verified as of Dec. 12, 2024
In the News
The Fed cut rates by a quarter point at its Nov. 7 meeting, its second rate cut in two meetings. Coupled with September’s half-point cut, the federal funds rate has been reduced by a cumulative 0.75 percentage points to a range of 4.50%–4.75%.
CD rates are influenced by the fed funds rate, which means CD rates are expected to come down as the Fed lowers rates.
Why You Can Trust Our Expert Recommendations on CDs
Investopedia collects thousands of CD rates from hundreds of banks and credit unions every weekday. When ranking CD rates, we look at factors like term, early withdrawal penalty, and minimum opening deposit. Investopedia launched in 1999 and has been helping readers find the best CD rates since 2019.
The CDs we recommend must be available nationwide and offered by a bank that’s insured by the Federal Deposit Insurance Corporation (FDIC) or a credit union insured by the National Credit Union Administration (NCUA), which cover up to $250,000 per depositor. In addition, to be eligible for our jumbo rankings, each CD’s minimum opening deposit requirement must be larger than $25,000 but not higher than $100,000. Our resulting rankings present a list of top-paying options that typically offer three to five times as much as the national average rate—sometimes even more.
Compare the Best Jumbo CD Rates
Ranked below are the top 15 or more APYs on nationally available jumbo CDs. To qualify, CDs must have a minimum deposit of at least $50,000. In the case of ties, we rank them first by the shortest available term, then by the lowest minimum deposit, and finally by the smallest early withdrawal penalty.
| Institution | Rate (APY) | Term | Minimum Deposit | Early Withdrawal Penalty |
|---|---|---|---|---|
| Quorum Federal Credit Union | 4.85% | 9 months | $100,000 | 3 months of interest |
| GTE Financial | 4.85% | 12 months | $100,000 | 3 months of interest |
| My eBanc | 4.80% | 6 months | $50,000 | 3 months of interest |
| Finworth | 4.75% | 6 months | $50,000 | 4 months of interest |
| Tampa Bay Federal Credit Union | 4.75% | 12 months | $100,000 | 6 months of interest |
| Signature Federal Credit Union | 4.75% | 13 months | $100,000 | 6 months of interest |
| All In Credit Union | 4.65% | 6 months | $100,000 | 3 months of interest |
| Justice Federal Credit Union | 4.65% | 6 months | $100,000 | 3 months of interest |
| My eBanc | 4.65% | 12 months | $50,000 | 3 months of interest |
| Credit One Bank | 4.60% | 6 months | $100,000 | 3 months of interest |
| All In Credit Union | 4.59% | 12 months | $100,000 | 3 months of interest |
| Finworth | 4.55% | 12 months | $50,000 | 4 months of interest |
| Justice Federal Credit Union | 4.52% | 12 months | $100,000 | 3 months of interest |
| Third Federal Savings & Loan | 4.50% | 5 months | $100,000 | 3 months of interest |
| Credit One Bank | 4.50% | 12 months | $100,000 | 3 months of interest |
| Veridian Credit Union | 4.50% | 12 months | $100,000 | 3 months of interest |
| All In Credit Union | 4.49% | 18 months | $100,000 | 3 months of interest |
| State Department Federal Credit Union | 4.47% | 12 months & 15 months | $100,000 | All earned interest up to 6 months |
Jump to more about Jumbo CDs
- How Do Jumbo CDs Work?
- Pros and Cons of Jumbo CDs
- How to Find the Best Jumbo CDs
- Know the Early Withdrawal Penalty
- Alternatives to a Jumbo CDs
- Frequently Asked Questions (FAQs)
How Do Jumbo CDs Work?
Jumbo CDs work essentially the same as standard certificates of deposit. You agree to make a lump-sum deposit into the CD and keep it there for your chosen term of maturity, and in exchange, the bank or credit union promises the annual percentage yield (APY) they will pay you for the life of the CD.
The only difference between a standard CD and a jumbo certificate is the amount you need to put in. Typically, jumbo CDs require a minimum deposit of $100,000, though some banks and credit unions offer jumbo certificates with minimum deposits as low as $50,000. And while many institutions will pay a slightly higher interest rate on jumbo CDs, it's not universally true. So, if you can find a better rate on a standard certificate, you can simply opt to put a jumbo-sized deposit in it.
Also, like standard certificates, jumbo CDs will carry an early withdrawal penalty, should you cash in the certificate before its maturity date. Be sure to review the terms of the penalty policy before finalizing any type of CD, as the penalties vary widely across institutions.
Pros and Cons of a Jumbo CD
Pros
-
May pay a higher APY than standard CDs
-
Pays a rate guaranteed not to change
-
Offers entirely predictable earnings
-
Is virtually risk-free when opened at a federally insured institution
-
Allows a single investment for one large lump sum
Cons
-
Requires a very large deposit
-
Locks up your money until maturity
-
Incurs a penalty if withdrawn early
-
May offer a lower rate of return than other options
-
Interest earnings are taxable
Advisor Insight
Keep in mind that all the interest you earn on a CD is fully taxable—something that can cut into your returns, especially if you’re in a higher tax bracket. In that case, you may want to consider more tax-efficient options, like municipal bonds or U.S. Treasuries, which can help preserve more of your earnings.
—Ryan Greiser, a member of Investopedia’s Financial Advisor Council.
How to Find the Best Jumbo CD Rates
Finding the best certificate of deposit for your financial needs will involve these steps:
- Decide your deposit amount – Determine how much you’d like to deposit in one or more CDs. To qualify for most jumbo certificates, you’ll usually need at least $100,000—though occasionally, you’ll find a certificate available for a minimum $50,000 deposit.
- Consider when you’ll need the money – Think through your financial timeline and how long you can afford to keep this money tied up. Though it’s not impossible to get your money out of a CD early, you’ll be penalized if you do so. That means the best way to maximize your return is to keep the CD intact until it matures. Also smart is keeping some cash in reserve in a top-paying high-yield savings account.
- Shop around – Research the best-paying options by reviewing our daily ranking of the best jumbo CD rates. But because standard CDs sometimes pay just as much, or even better, review our ranking of the best standard CD rates as well.
- Review the fine print – Once you’ve found a CD with a rate, term, and minimum deposit that meets your needs, do your homework on the CD’s early withdrawal penalty. If it seems overly harsh, such as possibly eating away at your principal investment, consider opening a similar CD at another institution with a more reasonable policy.
- Decide on your number of certificates – If you’ll be depositing more than $100,000 in a CD, consider splitting your deposit among more than one certificate. That way, you can choose different terms to stagger your commitment. Or you can open more than one of the same CD so that if you need to cash out early, you can perhaps withdraw from only one of the CDs early while keeping the other(s) until maturity.
Know the Early Withdrawal Penalty Before Opening a CD
Early withdrawal penalties most commonly take the form of a number of months of forfeited interest. For instance, if you have a 1-year CD, the early withdrawal penalty may be six months of interest. You won't have to pay this penalty out of pocket, but rather, it will be deducted from the interest you earned on the CD, reducing your payout.
Early withdrawal penalties vary widely across institutions. Some are quite mild, most are moderate, and some are extremely harsh, such as those that can eat into the principal of your initial deposit amount. If a CD you're considering has a penalty policy that seems especially onerous, consider opening a similar CD at another institution that has a more reasonable policy.
Fast Fact
When asked in November where they are investing their money, 13% of Investopedia readers said they are putting more into CDs, tied with government bonds but behind ETFs, individual stocks, index funds, and money market funds.
Alternatives to a Jumbo CD
For investors whose primary concern is preserving their principal, CDs are one of several options you can weigh. And jumbo CDs can make sense when you have a large amount of cash to invest in this way. But some of the alternatives may suit your goals better.
- Standard (Non-Jumbo) CDs: As we’ve mentioned, just because a CD requires a jumbo-sized deposit doesn’t mean it pays a jumbo-sized rate. In fact, it’s commonly true that you can earn a higher annual percentage yield (APY) by opening a standard CD and simply putting a large deposit into it as the vast majority of CDs have a very maximum investment limit (such as $250,000 or $1 million).
- Savings and Money Market Accounts: If you want more flexibility with your money, you could instead put your funds into one of the best high-yield savings accounts or best money market accounts. That would allow you to withdraw and deposit your funds more or less anytime you want. The disadvantage, however, is that rates on these accounts are variable. That means they can go down at any time, unlike a CD rate that is fixed for the entire term.
- U.S. Treasuries: Various types of bonds are also possibilities for your cash savings. Some, like U.S. Treasury savings bonds and Treasury notes, are very similar to CDs in that the rate is typically predictable if you hold the bond until maturity. They are also backed by the federal government, so like CDs, they are exceptionally safe.
- I Bond: U.S. Treasury I bonds are another option. However, their fixed rate is only known for six months at a time, with the rate being adjusted twice a year based on the current inflation rate (hence the name I bonds). Like a CD, I bonds have an early withdrawal penalty, but it’s a mild three months’ worth of interest. But unlike a CD, you cannot for any reason cash in an I bond during its first 12 months.
- Bond funds: To potentially earn a little more on your investment than a CD can provide, diversified bond funds are another idea. Of course, there’s always a risk that bond returns could be negative from one year to the next, so the longer your time horizon, the less risky an investment in bonds would be. If you’re considering a relatively short CD term instead, like 1 to 2 years, or even less, then bonds represent a much riskier option than a CD, with no guarantee of delivering a return.
- Equities: If you know you won’t need your funds for many years, you could consider investing in stocks instead. The upside is that you could potentially earn quite a bit more in the stock market than with a fixed CD rate. However, the significant downside is that you can always lose money on equities, including scenarios where you lose most of your investment. So while CDs won’t return as much as stocks that are doing well, on the flip side, CDs are guaranteed to grow with no risk of losing your initial principal.
Frequently Asked Questions
-
What Is a Jumbo CD?
A jumbo CD is a CD that requires a much higher minimum deposit. Traditionally, the term "jumbo" has referred to CDs requiring an investment of at least $100,000. But since no banking rules or regulations stipulate what an institution can call a jumbo CD, banks and credit unions apply the term liberally according to their deposit and marketing strategy. As such, the marketplace includes jumbo CDs, or sometimes "mini jumbos," requiring just $25,000 or $50,000.
-
What Is the Advantage of a Jumbo CD?
In theory, jumbo certificates of deposit offer a higher APY than standard CDs, in exchange for you depositing a larger sum with the bank or credit union. So when comparing a regular CD and a jumbo CD at the same institution, the jumbo certificates will usually offer higher yields.
But often, the rate difference is quite small, such as a 5 or 10 basis point rate premium for the jumbo CD. That may not make it worth stretching to a larger deposit than you like just to score the jumbo rate.
What matters most of all to the savvy CD shopper is how much the best CDs in the country pay, regardless of institution or CD size. Even if you want to invest a jumbo-sized deposit, you can always put that amount in a standard CD. So it's smartest to choose one of the highest rates for the CD term that best fits your timeline.
-
Are Jumbo CDs Safe?
Investments in jumbo CDs are just as safe as deposits made into regular CDs, or any other account at the bank. That's because FDIC insurance (and NCUA insurance for credit unions) doesn't distinguish the types of deposit products it covers. Its limits are strictly defined by a dollar threshold, which is $250,000 per person and per institution.
That means coverage can be increased significantly by spreading deposits across accounts held by more than one person (like two spouses) or at more than one institution.
Just be aware if you might approach the $250,000 threshold. If you open two $100,000 CDs at one bank, for instance, but also have another $100,000 in checking and money market accounts at that same institution, $50,000 of your deposits would be unprotected by the FDIC should the bank fail. Whether the funds are in regular or jumbo CDs will have no bearing on your protection.
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Who Has the Highest-Paying Jumbo CD Right Now?
The best rate on a jumbo certificate changes regularly, and varies quite a bit by term. Sometimes shorter terms pay higher rates, sometimes you can earn the most in long terms. The key is to shop around for the best rates when you're ready to make a CD deposit. By visiting our rankings above, you can always see the most up-to-date information on who is paying the highest jumbo CD rate in each term. Remember, though, to also compare it to what you can earn with a standard CD, since you can often earn more without limiting yourself to a jumbo certificate.
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What If I Need to Withdraw Before My Jumbo CD Reaches Maturity?
Whenever you open a CD, the terms of your agreement will include the bank or credit union's policy on how they'll calculate a penalty should you request to withdraw your funds before the CD matures. Most typically, the early withdrawal penalty is defined as a certain number of months of earned interest that's forfeited when you cash out.
Early withdrawal penalties are typically the same whether the CD is a standard or jumbo CD. However, the penalty calculations across various institutions vary incredibly widely. So be sure to review the penalty policy before signing on the dotted line, and avoid any CD whose penalty can eat into your original principal.
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What Is the Difference Between Regular, Jumbo, and IRA CDs?
The main difference to consider between regular and jumbo CDs is the rate you can earn. Though institutions are, in theory, willing to pay higher yields on larger deposits than smaller ones, this is not always the case, so be sure to shop around.
As for IRA CDs, these certificates behave in all the same ways as regular or jumbo CDs except that they are tax-sheltered according to the IRS' rules for IRA accounts. They are simply another type of retirement account or vehicle, and they often are used for funds a saver wants to be invested more conservatively than a securities investment offers and with a focus on capital preservation since CD balances generally do not lose principal.
As tax-favored retirement products, IRA CDs involve an additional penalty policy for any withdrawals made before retirement age, along the same lines as an early withdrawal from any other kind of IRA account.
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Are Jumbo CDs Negotiable?
Whether or not a CD is negotiable is typically a function of how the CD was acquired, rather than whether it is standard or jumbo in size. CDs opened directly with a bank or credit union are held in the depositor's name and are rarely negotiable. They can be liquidated only according to the bank's policy on early withdrawals and the associated penalty.
Alternatively, CDs can be opened through brokerage firms, and these certificates, called brokered CDs, are bought and sold on a secondary market. Instead of going to a bank to open one of these certificates, you do so via your account at a brokerage house (e.g., Vanguard, Fidelity, etc.), and multiple CDs from more than one institution can be held in a single brokerage account. This can simplify the process of tracking and managing more than one certificate.
The trade-off for this convenience is two-fold. First, the rates of return on brokered CDs are often less competitive than direct bank CDs. Second, if you want to withdraw your funds from a brokered CD, you cannot simply liquidate it and pay the bank a penalty. Instead, you must put the CD up for sale on the secondary market operated by the brokerage, and the price you receive (which depends on the current rate environment) is far from predictable.
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Are Jumbo CDs Worth It?
Putting money you won't need for a while into a CD is often an excellent way to boost your return. You'll generally earn more than on a savings or money market account, yet your funds are protected and can't lose money, like an investment in the stock market can.
But, limitig yourself to just jumbo CDs may not be worth it. Many times you can earn a better rate on a standard certificate, and then just put a jumbo-sized deposit into it. If you find a jumbo certificate that pays a better rate, it certainly can be a good option. It just shouldn't be the only type of certificate you shop for.
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Financial Institutions We Review
We researched and reviewed over 250 banks, credit unions, and financial institutions to find the best CD rates you see above on this list. While we write individual reviews for most, we do not always write reviews for those we would not recommend. Below are the banks, credit unions, and financial institutions we researched along with links to individual company reviews to help you learn more before making a decision:
1st Source Bank, 5star Bank, ableBanking, Abound Credit Union, Achieva Credit Union, Affinity Federal Credit Union, Affinity Plus Federal Credit Union, Air Force Federal Credit Union, Alabama Credit Union, Allegacy Federal Credit Union, Alliant Credit Union, Ally Bank, Amerant Bank, American 1 Credit Union, American Express, American Heritage Credit Union, Andrews Federal Credit Union, Apple Federal Credit Union, Banco do Brasil Americas, Banesco USA, Bank of Baroda, Bank5 Connect, Bank7, Texas Capital Bank, bankESB (Easthampton Savings Bank), BankUnitedDirect, Barclays, BBVA Bank, Bellco Credit Union, Blue Federal Credit Union, BMO, BMO Alto, BrioDirect, Cadets Federal Credit Union, California Coast Credit Union, Capital One, Capitol Federal Savings Bank, CD Bank, CFG Bank, Chase Bank, Chevron Federal Credit Union, CIBC (Agility Banking), CIT Bank, Citibank, Citizens Access, Citizens Trust Bank, Colorado Federal Savings Bank, Bread Savings, Communitywide Federal Credit Union, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Corporate America Federal Credit Union (CAFCU), Credit Union of Denver, Credit Union of the Rockies, Digital, Federal Credit Union, Discover Bank, DollarSavingsDirect, Dover Federal Credit Union, Dow Credit Union, Evergreen Bank Group, RocklandTrust Bank, Elements Financial, EmigrantDirect.com, Liberty Federal Credit Union, Fidelity Investments, Financial Partners Credit Union, Financial Resources Federal Credit Union, First Financial Credit Union, First Financial Northwest Bank, First Internet Bank, First National Bank of America, First Technology Federal Credit Union, Fort Bragg Federal Credit Union, Garden Savings Federal Credit Union, Georgia Banking Company, Georgia's Own Credit Union, GreenState Credit Union, Greenwood Credit Union, Grow Financial Federal Credit Union, GTE Financial, Gulf Coast Bank & Trust Company, Hanscom Federal Credit Union, Heritage Bank, Hiway Federal Credit Union, Home Loan Investment Bank, Home Savings Bank, Hope Credit Union, HSBC Direct, Hughes Federal Credit Union, Hyperion Bank, Ideal Credit Union, iGObanking, Interior Federal Credit Union, Justice Federal Credit Union, Kinecta Federal Credit Union, KS State Bank, La Capitol Federal Credit Union, Lafayette Federal Credit Union, Lake Michigan Credit Union, Langley Federal Credit Union, Latino Community Credit Union, Limelight Bank, Live Oak Bank, Luther Burbank Savings, MYSB Direct, MAC Federal Credit Union, Main Street Bank, MainStreet Bank, MapleMark Bank, Marcus by Goldman Sachs, Market USA Federal Credit Union, Matadors Community Credit Union, MECU Credit Union, Merrick Bank, Michigan State University Federal Credit Union, Mills42 Federal Credit Union, Mountain America Credit Union, MTC Federal Credit Union, MutualOne Bank, My Banking Direct, My eBanc, My Savings Direct, NASA Federal Credit Union, Nationwide by Axos Bank, Navy Federal Credit Union, nbkc, NexBank, North Country Savings Bank, Northern Bank Direct, Northfield Bank, Northpointe Bank, Nuvision Federal Credit Union, Oklahoma Central Credit Union, One American Bank, OneUnited Bank, Pacific National Bank, Paramount Bank, PARDA Federal Credit Union, Partner Colorado Credit Union, Patelco Credit Union, Pen Air Federal Credit Union, PenFed Credit Union, People's Credit Union, First Service Credit Union, Pinnacle Federal Credit Union, Popular Direct, Premier America Credit Union, Presidential Bank, FSB, Prime Alliance Bank, PSECU (Pennsylvania State Employees Credit Union), Quontic Bank, Quorum Federal Credit Union, Rising Bank, Merrimack Valley Credit Union, Salal Credit Union, Sallie Mae Bank, Santa Clara County Federal Credit Union, Signature Federal Credit Union, Spectrum Credit Union, SRP Federal Credit Union, State Bank of India Chicago, State Bank of India New York, State Bank of Texas, State Department Federal Credit Union, Summit Credit Union, Sun East Federal Credit Union, Superior Choice Credit Union, Synchrony Bank, TAB Bank, Teachers Federal Credit Union, Technology Credit Union, The Federal Savings Bank, Third Federal Savings & Loan, EverBank, TotalBank, Transportation Federal Credit Union, TruStone Financial Credit Union, UNIFY Financial Credit Union, Expedition Credit Union, United States Senate Federal Credit Union, United Texas Bank, University Federal Credit Union, US Bank, USAlliance Financial, USPS Federal Credit Union, Velocity Credit Union, VeraBank, Vio Bank, Virtual Bank, WebBank, Webster Bank, Wells Fargo, Western Vista Credit Union, Wings Financial Credit Union, XCEL Federal Credit Union, BankPurely, Umbrella Bank, giantbank.com, CapEd Credit Union, Zeal Credit Union, Finworth, Coastal1 Credit Union, Service Credit Union, National Cooperative Bank, Premier Members Credit Union, Bank of America, Flagstar Bank, 1st MidAmerica Credit Union, INOVA Federal Credit Union, Genisys Credit Union, Ivy Bank, Heartland Credit Union, Luana Savings Bank, Spectra Credit Union, Workers Credit Union, Credit Human, EFCU Financial, Poppy Bank, Credit One Bank, Vibrant Credit Union, CFBank, Department of Commerce Federal Credit Union, Seattle Bank, Crescent Bank, Pima Federal Credit Union, Cross River Bank, USAA, Great River Federal Credit Union, Brilliant Bank, Merchants Bank of Indiana, LendingClub, Chartway Credit Union, First Central Savings Bank, AgFed Credit Union, North American Savings Bank, Pelican State Credit Union, First Community Credit Union, Bask Bank, Skyla Credit Union, SkyOne Federal Credit Union, 3Rivers Federal Credit Union, Utah First Credit Union, Pasadena Federal Credit Union, Magnifi Financial, AloStar, Primis Bank, Farmers Insurance Federal Credit Union, Tampa Bay Federal Credit Union, Veridian Credit Union, Republic Bank, Salem Five Direct, All In Credit Union, Bethpage Federal Credit Union, Self-Help Federal Credit Union, Forbright Bank, Jovia Financial Credit Union, Sun Canyon Bank, Fortera Credit Union, Partners 1st Federal Credit Union, SouthEast Bank, American Bank, Newtek Bank, CBC Federal Credit Union, Vanguard, All America Bank, Amalgamated Bank, Citizens State Bank, AmBoy Direct, Republic Bank of Chicago, Oklahoma Community Credit Union, BluPeak Credit Union, Valley Direct, Bayer Heritage Federal Credit Union, First Harvest Credit Union, Orion Federal Credit Union, Wellby Financial, FedChoice Federal Credit Union, CoVantage Credit Union, Choice First Bank, Sandia Area Federal Credit Union, OMB Bank, Minnequa Works Credit Union, Securityplus Federal Credit Union, Bank of South Texas, and T Bank.
How We Find the Best Jumbo CD Rates
Every business day, Investopedia tracks the rate data of more than 70 banks and credit unions that offer jumbo CDs to customers nationwide, and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), the CD’s minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.
Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.
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