7 Best Jumbo CD Rates 2024
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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% or 0.10% 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: How much should I put in CDs?
The best jumbo CD rates tend to be at credit unions, many of which have membership requirements like living in a certain state or being part of an employer group, such as the military. Note that many credit unions call CDs share certificates, or certificates.
Our list focuses on CDs with opening minimums of $100,000.
Best jumbo CD rates for 1-year to 5-year terms: Easy to join:
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.
Global Credit Union.
Golden 1 Credit Union.
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% or 0.10% 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: How much should I put in CDs?
The best jumbo CD rates tend to be at credit unions, many of which have membership requirements like living in a certain state or being part of an employer group, such as the military. Note that many credit unions call CDs share certificates, or certificates.
Our list focuses on CDs with opening minimums of $100,000.
Best jumbo CD rates for 1-year to 5-year terms: Easy to join:
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.
Global Credit Union.
Golden 1 Credit Union.
Some banks have started lowering CD yields, though overall rates remain high. With a CD, you can lock in high rates while they’re still around.
Best Jumbo CD Rates 2024
| Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
|---|---|---|---|---|
 Connexus Credit Union Certificate | Best for Easy to join | $100,000 Federally insured by NCUA | 1-year APY 5.06% 3-year APY 4.26% 5-year APY 3.56% | Read review |
 Navy Federal Credit Union Standard Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 5.10% 3-year APY 4.05% 5-year APY 3.85% | Read review |
 SchoolsFirst FCU Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 4.60% 3-year APY 4.60% 5-year APY 4.75% | Read review |
 Suncoast Credit Union Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 5.25% 3-year APY 3.85% 5-year APY 4.05% | Read review |
 Community First Credit Union CD | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 4.39% 3-year APY 4.25% 5-year APY 4.25% | Read review |
 Global Credit Union Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 2.45% 3-year APY 4.55% 5-year APY 3.05% | Read review |
 Golden 1 Credit Union Certificate | Best for Competitive rates but restrictive membership | $100,000 Federally insured by NCUA | 1-year APY 0.60% 3-year APY 0.75% 5-year APY 1.00% | Read review |
Our pick for
Easy to join
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 0.05% 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 0.05% to 1.05% higher than rates on certificates that need $1,000 to open, the lowest minimum required.
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 up to 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: 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 certificates with a $500 minimum and jumbo share certificates with a $100,000 minimum differ by about 0.25%.
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, the traditional minimum, and are at least 0.10% higher than regular rates. In total, there are six tiers of jumbo CD rates ranging from Junior Jumbo, which requires at least $45,000, to Super Jumbo Max, which requires $1 million as the minimum.
Why We Like It
Overview: Global Credit Union, formerly known as Alaska USA Federal Credit Union, focuses its membership on residents of the states of Alaska and Washington, specific counties in California and Arizona, and anyone employed by the Department of Defense. The credit union has seven minimum deposit tiers, in which rates between jumbo (with a $100,000 minimum) and regular (with a $500 minimum) can differ by about 0.15% for terms longer than one year.
Why We Like It
Overview: Golden 1 Credit Union has served residents in California since 1933, and continues to focus membership on people who live and work in the Golden State. Share certificates for each term have different rates depending on minimum deposit, up to $100,000, and the difference in rates between the lowest and highest minimums is about 0.10%. The lowest minimum is $500.
» COMPARE: Best CD rates regardless of minimum deposit
What is a jumbo CD?
A jumbo CD is a certificate of deposit that traditionally requires a minimum deposit of $100,000. 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 January 17, 2024
Methodology
We featured financial institutions that we've reviewed with the highest CD rates available and that require an opening minimum of $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, 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, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate 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, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus 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, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.
To recap our selections...
NerdWallet's Best Jumbo CD Rates 2024
- Connexus Credit Union Certificate: Best for Easy to join, 5.06% APY, $100,000 Minimum deposit
- Navy Federal Credit Union Standard Certificate: Best for Competitive rates but restrictive membership, 3.85% APY, $100,000 Minimum deposit
- SchoolsFirst FCU Certificate: Best for Competitive rates but restrictive membership, 4.60% APY, $100,000 Minimum deposit
- Suncoast Credit Union Certificate: Best for Competitive rates but restrictive membership, 5.25% APY, $100,000 Minimum deposit
- Community First Credit Union CD: Best for Competitive rates but restrictive membership, 4.39% APY, $100,000 Minimum deposit
- Global Credit Union Certificate: Best for Competitive rates but restrictive membership, 2.45% APY, $100,000 Minimum deposit
- Golden 1 Credit Union Certificate: Best for Competitive rates but restrictive membership, 0.60% 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.
There’s no one answer, but aim for more than minimum requirement and make sure that all your funds are federally insured, which maxes out at $250,000 for individual accounts at a bank or credit union. Learn more details on how to choose the amount for a CD.
