7 Best Jumbo CD Rates of 2023
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ALSO CONSIDER: Best CD rates || Best high-yield savings accounts || Best IRA CD rates
Jumbo CD rates can be slightly better than regular CD rates, such as 0.05% higher, but these CDs have a high opening minimum: usually around $100,000. The best CD rates, which aren’t on jumbo CDs, have much lower or no minimums.
Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
» Learn more: Are CDs worth it?
The best jumbo CD rates tend to be at credit unions, many of which have membership requirements such as living in a certain state or being part of an employer group, such as the military. Our list focuses on CDs with minimums from $50,000 to $100,000.
Best jumbo CD rates for 1-year to 5-year terms: Easy to join:
First Tech Federal Credit Union.
Connexus Credit Union.
Competitive rates but restrictive membership or excludes certain states:
Navy Federal Credit Union.
SchoolsFirst Federal Credit Union.
Security Service Federal Credit Union.
Suncoast Credit Union.
Community First Credit Union of Florida.
ALSO CONSIDER: Best CD rates || Best high-yield savings accounts || Best IRA CD rates
Jumbo CD rates can be slightly better than regular CD rates, such as 0.05% higher, but these CDs have a high opening minimum: usually around $100,000. The best CD rates, which aren’t on jumbo CDs, have much lower or no minimums.
Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
» Learn more: Are CDs worth it?
The best jumbo CD rates tend to be at credit unions, many of which have membership requirements such as living in a certain state or being part of an employer group, such as the military. Our list focuses on CDs with minimums from $50,000 to $100,000.
Best jumbo CD rates for 1-year to 5-year terms: Easy to join:
First Tech Federal Credit Union.
Connexus Credit Union.
Competitive rates but restrictive membership or excludes certain states:
Navy Federal Credit Union.
SchoolsFirst Federal Credit Union.
Security Service Federal Credit Union.
Suncoast Credit Union.
Community First Credit Union of Florida.
The Federal Reserve raised rates to the highest levels in more than two decades, which is good news for your bank accounts. Take advantage of today’s high rates by opening a federally insured certificate of deposit.
Best Jumbo CD Rates
| Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
|---|---|---|---|---|
 First Tech Federal Credit Union CD | Best for Easy to join | $50,000 Federally insured by NCUA | 1-year APY 2.20% 3-year APY 2.45% 5-year APY 3.55% | Read review |
 Connexus Credit Union CD | Best for Easy to join | $100,000 Federally insured by NCUA | 1-year APY 5.11% 3-year APY 4.61% 5-year APY 4.16% | Read review |
 Navy Federal Credit Union Standard Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 4.45% 3-year APY 4.25% 5-year APY 4.25% | Read review |
 SchoolsFirst FCU CD | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 3.60% 3-year APY 4.10% 5-year APY 4.35% | Read review |
 Security Service Federal Credit Union Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 2.25% 3-year APY 3.00% 5-year APY 3.75% | Read review |
 Suncoast Credit Union CD | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 2.55% 3-year APY 3.35% 5-year APY 3.55% | Read review |
 Community First Credit Union CD | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 2.79% 3-year APY 3.41% 5-year APY 3.67% | Read review |
Our pick for
Easy to join
Why We Like It
Overview: First Tech Federal focuses on serving technology companies and their workers, but it offers membership to anyone nationwide who joins the nonprofit Financial Fitness Association for an $8 fee or the Computer History Museum for a $15 fee. Its jumbo rates on share certificates, or credit union CDs, are about 0.05% better than its standard certificate yields, and the minimum opening balance is $50,000.
Why We Like It
Overview: Connexus offers a strong lineup of standard and jumbo share certificates — what the credit union calls CDs — with $5,000 and $100,000 minimum deposits, respectively. Jumbo CD rates are about 0.25% higher than regular rates. Anyone can join the credit union by making a one-time donation of $5 to the nonprofit Connexus Association.
Our pick for
Competitive rates but restrictive membership
Why We Like It
Overview: Navy Federal is the largest credit union in the U.S.; to join, you must be affiliated with the military or have family that is. Its jumbo share certificates require $100,000 to open, and their rates are about 0.05% higher than rates on certificates with the lowest minimum required, $1,000.
Why We Like It
Overview: SchoolsFirst Federal Credit Union has share certificates with competitive rates across four tiers based on minimum opening deposit. Rates between certificates with the lowest minimum, $500, and the highest, $100,000, differ by about 0.15%. The bigger the deposit, the higher the rate. SchoolsFirst limits membership to employees, their families and others affiliated with California schools.
Why We Like It
Overview: Security Service Federal Credit Union was established in 1956 around a U.S. Air Force base, and it continues to focus its membership on members of certain branches of the military in Texas, Colorado or Utah. However, if you live or work in those states, you can also join. Its share certificates have multiple tiers based on minimum deposits from $500 to $100,000, with rates about 0.10% better for the highest tier compared to the lowest.
Why We Like It
Overview: Suncoast is a Florida-based credit union that mostly restricts its membership to those who live or work in the state. Its rates on regular and jumbo share certificates are the same, and the difference between opening minimum requirements is sizable: $500 for regular certificates, $100,000 for jumbo certificates.
Why We Like It
Overview: Community First primarily serves communities in Florida. Its CDs have terms of three months to five years, and the number of rates available based on minimum deposit are more than at many financial institutions we analyzed. Jumbo rates require at least $100,000; Junior Jumbo rates have minimum deposits of $45,000 and Jumbo Plus rates require at least $250,000. The jumbo rates are more than 0.15% higher than regular rates.
What is a jumbo CD?
A jumbo CD is a certificate of deposit that traditionally requires a minimum deposit of $100,000. Some banks and credit unions offer jumbo CDs with lower minimums, such as $50,000. But for most people, regular CDs tend to be a better option: There’s no steep deposit requirement, and rates can be as good as or higher than jumbo CD rates.
Apart from minimums, regular and jumbo CDs are similar. They both keep money locked up for a fixed period, usually from three months to five years. In return for sacrificing access to your funds, you earn an interest rate that is usually higher than that of a regular savings account.
» Learn more about jumbo CDs
Last updated on February 3, 2023
Methodology
We featured financial institutions that we've reviewed with the highest CD rates available and that require an opening minimum from $50,000 to $100,000.
We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
Financial institutions and providers surveyed are: Affirm, Alaska USA Federal Credit Union, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, Fifth Third Bank, First Foundation, First National Bank, First Republic Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, Golden 1 Credit Union, Hope Credit Union, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.
To recap our selections...
NerdWallet's Best Jumbo CD Rates of 2023
- First Tech Federal Credit Union CD: Best for Easy to join, 3.55% APY, $50,000 Minimum deposit
- Connexus Credit Union CD: Best for Easy to join, 5.11% APY, $100,000 Minimum deposit
- Navy Federal Credit Union Standard Certificate: Best for Competitive rates but restrictive membership, 4.25% APY, $100,000 Minimum deposit
- SchoolsFirst FCU CD: Best for Competitive rates but restrictive membership, 3.60% APY, $100,000 Minimum deposit
- Security Service Federal Credit Union Certificate: Best for Competitive rates but restrictive membership, 2.25% APY, $100,000 Minimum deposit
- Suncoast Credit Union CD: Best for Competitive rates but restrictive membership, 2.55% APY, $100,000 Minimum deposit
- Community First Credit Union CD: Best for Competitive rates but restrictive membership, 2.79% APY, $100,000 Minimum deposit
Frequently asked questions
Typically, not by much. Current rates on jumbo CDs tend to be around 0.05% to 0.10% higher than regular CDs, when comparing CDs at the same bank, while the difference between their minimum deposit requirements is huge. Jumbo CDs usually require $100,000, while regular CDs can have higher rates and a minimum deposit requirement of $500 or $5,000. Or even no minimum, especially at some online banks such as Barclays and Capital One 360.
CDs give some of the highest returns for deposit accounts, and they tend to work best for specific short-term goals, such as saving for a wedding or down payment for a home a few years down the road.
» Learn more about whether CDs are worth it
But the federal deposit insurance limit for a CD (and any other bank account) is $250,000. If you want the assurance that you will get all your money back if your bank or credit union fails, it’s best to keep your deposit, and the expected interest amount you’ll earn, at or below that limit. To make sure your money is protected, you can also open a joint account, which insures $250,000 per co-owner, or consider multiple CDs from different banks.
If you have enough savings for a jumbo CD, compare rates across both jumbo and regular CDs. In general, bigger CD minimums don’t mean higher rates.
If a bank or credit union has multiple jumbo rate tiers for each CD term, you may find that a minimum deposit above $100,000 is called a super jumbo CD or some other variation. The rate may be slightly better than that institution’s standard and jumbo rate tiers, but double-check. Rates can be the same across tiers.
