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5 Best Jumbo CD Rates for 2020

Spencer TierneyFebruary 3, 2020

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Jumbo CD rates tend to be slightly better than regular CD rates, on average, but these CDs come with a steep requirement. Jumbo CDs traditionally require at least $100,000 to open, though some banks have lower minimums.

You can find the best CD rates with much lower or no minimums.

Our list of best jumbo CD rates mostly focuses on CDs with minimums from $50,000 to $100,000 and that are available at banks and credit unions with easy, nationwide membership requirements.

Summary of Best Jumbo CD Rates for 2020

BankNerdWallet Rating 1-year APY3-year APY5-year APYMinimum DepositLearn More
First Tech Federal Credit Union CD

First Tech Federal Credit Union CD

0.60%

0.85%

1.00%

$50,000

Read review
Navy Federal Credit Union CD

Navy Federal Credit Union CD

1.55%

1.45%

1.50%

$100,000

Read review
Consumers Credit Union CD

Consumers Credit Union CD

0.60%

0.90%

1.10%

$100,000

Read review
State Farm Bank CD

State Farm Bank CD

0.50%

0.50%

0.50%

$100,000

Read review
CIT Bank CD

CIT Bank CD

N/A

1.00%

1.05%

$100,000

Read review

First Tech Federal Credit Union CD

First Tech Federal Credit Union CD

1-year APY

0.60%

With $50000 minimum balance

3-year APY

0.85%

With $50000 minimum balance

5-year APY

1.00%

With $50000 minimum balance

Minimum Balance

$50,000

Federally insured by the NCUA


3-year APY

0.85%

With $50000 minimum balance

5-year APY

1.00%

With $50000 minimum balance

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. Its jumbo rates on share certificates, or credit union CDs, are about 0.10% better than its standard certificate yields, and the minimum opening balance is $50,000.

Fees: No monthly or opening fees. Penalties for withdrawing early include six months of interest for one- and two-year certificates and nine months of interest for longer terms.

Other products: First Tech has bump-up share certificates, which let you change your rate once from the initial rate to a new one, such as if a higher rate becomes available. It also has checking and savings options.

Full list of First Tech jumbo CD rates:

6-month CD: 0.45% APY

1-year CD: 0.60% APY

2-year CD: 0.70% APY

3-year CD: 0.85% APY

5-year CD: 1.00% APY

Read Full Review

Navy Federal Credit Union CD

Navy Federal Credit Union CD

1-year APY

1.55%

With $100000 minimum balance

3-year APY

1.45%

With $100000 minimum balance

5-year APY

1.50%

With $100000 minimum balance

Minimum Balance

$100,000

Federally insured by the NCUA


3-year APY

1.45%

With $100000 minimum balance

5-year APY

1.50%

With $100000 minimum balance

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 0.10% higher than rates on certificates with the lowest minimum required, $1,000.

Fees: No monthly or opening fees. The cost of early withdrawals varies by term. For example, you'd pay up to six months in interest for one- to five-year certificates.

Other products: Navy Fed has a full suite of accounts: checking, savings, loans and credit cards.

List of Navy Fed jumbo CD rates:

3-month CD: 0.55% APY

6-month CD: 1.05% APY

1-year CD: 1.55% APY

18-month CD: 1.45% APY

2-year CD: 1.45% APY

3-year CD: 1.45% APY

4-year CD: 1.50% APY

5-year CD: 1.50% APY

6-year CD: 1.50% APY

7-year CD: 1.50% APY

Read Full Review

Consumers Credit Union CD

Consumers Credit Union CD

1-year APY

0.60%

With $100000 minimum balance

3-year APY

0.90%

With $100000 minimum balance

5-year APY

1.10%

With $100000 minimum balance

Minimum Balance

$100,000

Federally insured by the NCUA


3-year APY

0.90%

With $100000 minimum balance

5-year APY

1.10%

With $100000 minimum balance

Why we like it

Overview: Consumers Credit Union, based in Illinois, provides online jumbo certificates with a minimum of $100,000. Its rates are around 0.10% higher than its standard certificates, which only require $250 to open. Anyone can apply to be a member by paying a one-time fee of $5 to the credit union's nonprofit association.

Fees: No monthly or opening fees. Early withdrawals have a penalty of two months of interest for one-year certificates and shorter terms; four months of interest for certificates longer than one year.

Other products: The credit union offers a rewards checking and savings account.

List of Consumers Credit Union jumbo CD rates:

3-month CD: 0.35% APY

6-month CD: 0.45% APY

1-year CD: 0.60% APY

18-month CD: 0.75% APY

2-year CD: 0.80% APY

3-year CD: 0.90% APY

4-year CD: 1.05% APY

5-year CD: 1.10% APY

Read Full Review

State Farm Bank CD

State Farm Bank CD

1-year APY

0.50%

With $100000 minimum balance

3-year APY

0.50%

With $100000 minimum balance

5-year APY

0.50%

With $100000 minimum balance

Minimum Balance

$100,000

Member FDIC


3-year APY

0.50%

With $100000 minimum balance

5-year APY

0.50%

With $100000 minimum balance

Why we like it

Overview: Known better by its insurance brand, State Farm Bank is an online bank with jumbo CDs. The minimum is $100,000, and the rates for standard and jumbo CDs are the same.

Fees: No monthly or opening fees. Early withdrawal penalties vary from three to 18 months of interest, depending on the term.

Other products: State Farm also offers checking and savings accounts.

List of State Farm Bank jumbo CD rates:

1-year CD: 0.50% APY

2-year CD: 0.50% APY

30-month CD: 0.50% APY

3-year CD: 0.50% APY

4-year CD: 0.50% APY

5-year CD: 0.50% APY

Read Full Review

CIT Bank CD

CIT Bank CD

1-year APY

N/A

3-year APY

1.00%

With $100000 minimum balance

5-year APY

1.05%

With $100000 minimum balance

Minimum Balance

$100,000

Member FDIC


3-year APY

1.00%

With $100000 minimum balance

5-year APY

1.05%

With $100000 minimum balance

Why we like it

Overview: Online-based CIT Bank offers four jumbo CDs with a minimum of $100,000 to open. Unlike other banks, CIT doesn't have a 1-year jumbo CD.

Fees: No monthly or opening fees. Withdrawing early costs six to 12 months of interest, depending on the term. CIT also has an 11-month no-penalty CD.

Other products: Its savings account has an impressive rate. CIT also has a checking account that earns interest.

Full list of CIT Bank jumbo CD rates:

2-year CD: 1.00% APY

3-year CD: 1.00% APY

4-year CD: 1.05% APY

5-year CD: 1.05% APY

Read Full Review

Last updated on February 3, 2020

Methodology

We featured easy-to-join financial institutions that we've reviewed with the highest CD rates available and that require an opening minimum from $50,000 to $100,000. Higher rates might be available elsewhere.

To recap our selections...

NerdWallet's Best Jumbo CD Rates for 2020

Frequently asked questions