Jumbo CDs are just like traditional CDs, but they generally have a much higher minimum opening deposit. In exchange, they usually give a better interest rate than other CDs at the same bank. If you're planning to put $100,000 or more into a CD, a jumbo CD might be a good choice. But keep in mind that some regular CDs pay even higher rates than jumbo CDs, so make sure to shop around before committing.
Jumbo CDs are rare, and ones that pay high interest rates are even rarer. Business Insider's personal finance team reviewed many financial institutions to find the best banks for jumbo CDs.
If you're also interested in other types of CDs, check out our overall best CD rates guide.
Best Jumbo CD Rates for March 2025
- Credit One Bank Jumbo CD: 3.90% to 4.50% APY
- Veridian Credit Union Jumbo CD: 1.90% to 4.45% APY
- Quorum Federal Credit Union Term Savings: 2.20% to 4.35% APY
- Consumers Credit Union Jumbo CD: 0.50% to 4.35% APY
- EFCU Financial Jumbo Certificates: 3.85% to 4.35% APY
- State Department Federal Credit Union Jumbo Certificates: up to 4.27% APY
- AFCU Jumbo Fixed Rate Share Certificate: 2.95% to 4.25% APY
- State Bank of Texas 1 Year CD Special: 4.15% APY
Compare the Top Jumbo CDs
Below are our top picks for the best banks for jumbo CDs. The best jumbo CDs have either competitive interest rates or a variety of terms.
We've selected options from both banks and credit unions, so you have a variety of options to choose from. Credit unions have membership eligibility requirements, but most of our top picks have more open eligibility criteria than regional or local institutions.
Credit One Bank Jumbo CD
3.90% to 4.50%
$100,000
- If Credit One raises its CD rates up to 10 days from when you opened your account, it will automatically raise your CD rate
- Offers Bump-Up Jumbo CD
- Standard early withdrawal penalties
- Customer service for jumbo deposit accounts isn’t 24/7
- Only one physical branch
- Early withdrawal penalty of 90 days simple interest for terms from 6 months to 1 year
- Early withdrawal penalty of 180 days simple interest for terms from 18 months to 5 years
- One branch location
- Interest compounds daily, deposits monthly
- Member FDIC
Credit One Bank's 12-month rate for its jumbo CD is particularly strong, and its 6-month jumbo CD also offers a good rate,too. In addition, Credit One Bank offers a Bump-Up Jumbo CD that lets you raise your CD rate once during its term length if Credit One's CD rates go up. You might like Credit One's jumbo CD if you're interested in a bump-up jumbo CD, and you have at least $100,000 to open an account.
Credit One Bank is largely an online bank, so it only has one physical branch location in Las Vegas. If you'd prefer to bank in-person and you don't live in Las Vegas, Credit One Bank might not be the bank for you.
Term length options: Credit One Bank offers jumbo certificates ranging from 6 months to 5 years. It also offers bump-up jumbo certificates for 2-year and 3-year term lengths.
Veridian Credit Union Jumbo CD
1.90% to 4.45%
$100,000
- Solid interest rates compared to other brick-and-mortar financial institutions
- Variety of short-term CDs
- Standard early withdrawal penalties
- Online banks may offer a higher interest rate on CDs
- No standard terms 4 years or over
- $100,000 minimum opening deposit
- 30 branches in Iowa and Nebraska
- To become a member at Veridian Credit Union you must meet one of the following requirements: You live or work for a business in any Iowa county or select Nebraska counties (Cass, Douglas, Lancaster, Sarpy, Saunders, or Washington); You have a family member that is a current Veridian Credit Union member; You donate $5 to the Habitat for Humanity of Iowa when you apply for membership at Veridian Credit Union
- Standard CD terms range from 7 months to 39 months
- Early withdrawal penalites: For terms 1 year of less the penalty is 90 days of interest; For terms longer than 1 year the penalty is 180 days of interest
- Interest compounded and deposited quarterly
- Federally insured by the NCUA
Veridian Credit Union offers strong rates for its jumbo CDs. It also offers bump-up jumbo CDs, which allow you to raise your rate after opening the CD if the credit union's rates go up. Most jumbo CDs are fixed-rate CDs, so if you're looking for a specialty jumbo CD, Veridian might be a good choice for you.
Since Veridian is a credit union, it has to put limits on who can join. Fortunately, Veridian is easier to join than most credit unions. Anyone can apply to join if they make at least a $5 donation to Habitat for Humanity of Iowa as part of their membership application. If you live or work in specific parts of Iowa, Minnesota, or Nebraska, or if an immediate family member lives or works in those, areas, you can apply to join without donating.
Term length options: Veridian offers jumbo certificates ranging from six months to 41 months. It also offers bump-up jumbo CDs in addition to fixed-rate jumbo CDs.
Quorum Federal Credit Union Term Savings
2.20% to 4.35%
$1,000
- Competitive interest rate on select CD terms
- Standard-to-low early withdrawal penalties
- Standard CD terms
- $1,000 minimum opening deposit
- Interest compounded monthly, not daily
- Online credit union with 1 location in NY
- Terms range from 3 months to 5 years
- To become a member, you or a family must work at a Select Employee Group OR you must join the American Consumer Council or Select Savers Club
- Earn an additional 0.10% APY on account balances over $100,000
- Early withdrawal penalties: 1% of the amount withdrawn for terms between 2 months and 11 months; 2% of the amount withdrawn for terms between 1 year and 2 years; 3% of the amount withdrawn for terms over 25 months
- Interest compounded and deposited monthly
- NCUA insured
Like all credit unions, you'll need to meet certain qualifications to join. Luckily, Quorum makes it easier than many. You can join the American Consumer Council for free during your application to Quorum to become a member. There are also other ways to join, such as being a family member of a preexisting member, being an employee with specific employers, and being a member of the Select Savers Club.
Quorum compounds your interest monthly instead of weekly or daily. Since this is a jumbo CD, that could make a big difference on how much you earn.
Term Length Options: 11 months to 5 years
Quorum Federal Credit Union Review
Consumers Credit Union Jumbo CD
0.50% to 4.35%
$250 to $100,000
- Competitive interest rates
- Compounds interest daily, more often than most credit unions
- Low early withdrawal penalties
- $100,000 minimum deposit for most terms
- No terms over 5 years
- Join Consumers Credit Union by paying a $5 membership fee to the Consumers Cooperative Association, then by depositing and keeping $5 in a Consumers savings account.
- Terms ranging from 91 days to 5 years
- Early withdrawal penalties are as follows: 60 days interest for terms of 1 year or less; 120 days interest for terms over 1 year
- Interest compounded daily, paid monthly
- Federally insured by the NCUA
Consumers Credit Union pays competitive rates on jumbo CDs, especially if you're willing to put in the extra money for one of its super jumbo CDs. Consumers makes it easier to become a member than most credit unions do — you just have pay $5 to join the Consumers Cooperative Association, then deposit $5 in a Consumers savings account. Unlike most credit unions, Consumers compounds interest daily, meaning you can earn more money in the long run.
Consumers Credit Union doesn't have any major downfalls, but you might earn a higher rate at another institution, depending on the term length.
Term length options: 91 days to 5 years
EFCU Financial Jumbo Certificates
3.85% to 4.35%
$100,000
- High APY
- Standard early withdrawal penalties
- Interest compounded monthly, not daily
- Can become a member if you open a checking or savings account
- Credit union offers CD terms ranging from 6 months to 5 years
- For CD terms of 1 year or less, the early withdrawal penalty is 90 days of interest
- Interest is compounded and deposited monthly
- Federally insured by the NCUA
EFCU Financial stands out for its high jumbo CD rates, particularly for terms of 6 months and 12 months.
To qualify for membership, you must donate annually to the Louisiana Wildlife Federation or Arco of Baton Rouge. The credit union also lets you become a member if you live, work, worship, or go to schools in select areas in Louisiana or have a family member who is an active member.
Term length options: EFCU Financial has jumbo certificates from 6 months to 5 years. It also offers a unique 30-month jumbo certificate with a one-time rate bump.
State Department Federal Credit Union Jumbo Certificates
up to 4.27%
$100,000
- High APY
- Standard early withdrawal penalties
- Interest compounded quarterly, instead of monthly or daily
- 6 branches in Virginia, North Carolina, and Washington, DC
- To become a member of State Department Federal Credit Union you must meet one of the following requirements: 1) are an employee or onsite contractor of the Department of State 2) have a family member or household member that is eligible for membership 3) are a member or a partner association, organization or company or 4) join the American Consumer Council
- Early withdrawal penalty is up to 30 days of interest for terms of less than 12 months, up to 180 days of interest for terms between 12 months and 48 months, and 360 days of interest for terms of 60 months
- Must also open a savings account with a $1 deposit to establish membership
- Interest compounded and credited quarterly
- Federally insured by the NCUA
State Department Federal Credit Union is one of the best credit unions for jumbo CDs. Its 1-year and 15-month terms offer the highest rates out of all its terms, and the early withdrawal penalties are reasonable.
There are several ways to join the credit union. You can join regardless of where you live in the U.S. if you become part of the American Consumer Council. You also qualify if you are an employee or onsite contractor of the Department of State, have a family member or household member that is eligible for membership, or are a member or a partner association, organization, or company.
Term length options: State Department Federal Credit Union has jumbo certificates ranging from 6 months to 5 years.
AFCU Jumbo Fixed Rate Share Certificate
2.95% to 4.25%
$10,000
- Higher rates than some brick-and-mortar banks
- Low minimum opening deposit for a jumbo cd
- Interest only compounded quarterly
- Black-owned credit union with branches in DC, MD, NJ, VA, and WA; branches in Belgium, Germany, and the Netherlands
- 5,000 shared branches in the CO-OP Shared Branch network
- Join Andrews FCU by being an employee/member by one of the credit union's Employer Groups; live, work, study, or worship in DC; are a member of the American Consumer Council; are an immediate family or household member of an Andrews FCU member; are an active military member or veteran, or a family member of someone who served at Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst; are a civilian personnel of Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst, or a family member; are a qualifying military member or civilian personnel of the Department of Defense, or a family member; otherwise qualify based on military affiliation
- You must open a Base Share Savings Account to become an Andrews FCU member
- Term lengths ranging from 6 months to 5 years
- Early withdrawal penalties: 90 days of dividends on terms of 24 months or less; 180 days of dividends on terms longer than 24 months; special certificates (for example, an 84-month) have an early withdrawal penalty of 360 days of interest
- Interest compounded and paid quarterly
- Federally insured by the NCUA
Andrews Federal Credit Union is a Black-owned credit union, which is a type of minority depository institution. MDIs provide financial services to underserved populations. If a credit union that aligns with your values is important to you, Andrews might be a good choice. In addition, Andrews charges a much lower minimum opening deposit for its jumbo CDs than the standard, with a minimum opening deposit of $10,000.
Like all credit unions, Andrews has to put limits on who can join. Andrews allows anyone in the U.S. to join by becoming a member of the American Consumer Council. You can also become a member by being an employee of select employer groups, being an active-duty or retired military member, being a military spouse or dependant, having a family member who's part of the credit union, or living, working, attending school, or worshiping in Washington, D.C.
Term length options: 6 months to 5 years
State Bank of Texas 1 Year CD Special
4.15%
$50,000
- High APY
- Low early withdrawal penalties
- $50,000 minimum opening deposit
- Interest isn’t compounded
- 8 branches in Texas and Illinois
- Available to open online from anywhere in the United States
- Early withdrawal penalty is 60 days of interest
- Simple interest is paid at maturity
- FDIC insured
State Bank of Texas has an online 12-month CD special paying 4.15% APY with a $50,000 minimum deposit.
You can open the account regardless of where you live in the United States. You also might like this account if you're interested in low CD early withdrawal penalties.
Something to keep in mind is that the State Bank of Texas doesn't compound interest on its CDs. You'll earn simple interest instead. This may make a difference, depending on how much money you plan to deposit.
Term length options: State Bank of Texas only offers a 1-year online CD. You might prefer another bank if you're looking for a variety of term lengths.
Jumbo CD Company Trustworthiness and BBB Ratings
We review the ethics of each company so you can see if a specific financial institution aligns with your values.
We include the settlement history of the last three years so you're aware of any recent public controversies involving the bank.
We've also compared each company's Better Business Bureau score. The BBB grades businesses based on factors like responses to customer complaints, honesty in advertising, and transparency about business practices. Here is each company's score:
| Institution | BBB rating |
| Credit One Bank | A+ |
| Veridian Credit Union | A+ |
| Quorum Federal Credit Union | A+ |
| Consumers Credit Union | A+ |
| EFCU Financial Federal Credit Union | A+ |
| State Department Federal Credit Union | C- |
| Andrews Federal Credit Union | A+ |
| State Bank of Texas | NR |
State Department Federal Credit Union has a C- rating from the BBB because it has failed to respond to several customer complaints.
State Bank of Texas has an NR("No Rating") grade from the BBB because it doesn't have enough information to issue a rating.
What Drives the Best Jumbo CD Rates
Market and Economic Conditions
Ultimately, every bank and credit union has to respond to market fluctuations when setting rates.
The best way to predict market changes is to watch for when the next Fed meeting is. The Fed is the central banking system of the U.S., and it meets several times throughout the year to decide on rate changes. Generally, when the Fed announces a rate change, other banks and credit unions follow suit.
Large Deposit Amounts
Large deposit amounts, like those you need for jumbo CDs, let banks pay out slightly higher interest rates than they would otherwise. The best banks for jumbo CDs might even offer super jumbo CDs, which require an even higher minimum opening deposit, but pay out a higher interest rate in exchange.
Competition Between Financial Institutions
Banks and credit unions will generally pay attention to what other banks and credit unions are doing when setting their rates. If the best 5-year jumbo CD rates rise, then it's likely that other financial institutions will raise their rates as well to stay competitive. And if 1-year CD rates fall, then financial institutions can safely lower their rates while still getting customers.
Should You Invest in a Jumbo CD?
Are jumbo CDs worth it? It depends on how much you'd like to deposit into an account and your risk tolerance. Jumbo CDs might be a good choice for you if you have a lot of money you'd like to put in a CD, especially if you have more than $250,000 and you choose a CD that offers extended insurance past the standard FDIC or NCUA maximums. However, it's important to keep in mind that you can find good CD rates with regular CDs, too. For example, there are CDs in our best 3-month CD rates guide that have higher rates than the jumbo CDs we have listed here.
When you're considering opening a CD at a particular financial institution, make sure that you qualify. For example, credit unions have membership requirements. That said, there is still a wide range of banking opportunities available, so if you're unbanked know that you still have options even if you don't qualify at one specific place.
Jumbo CD FAQs
Minimum opening deposit requirements vary across financial institutions. That said, jumbo CDs often start at a $100,000 minimum deposit.
When comparing jumbo CD rates versus regular CD rates of the same term length at the same financial institution, jumbo CDs almost always offer equal or better rates. However, there are banks and credit unions that have high rates and don't offer jumbo CDs, so always check to see what other rates are out there before committing to a CD
Yes, there are specialty jumbo CDs, such as bump-up jumbo CDs.
No, not all banks and credit unions offer jumbo CDs. Larger banks and credit unions are more likely to offer jumbo CDs than small or local financial institutions.
The difference between regular CDs and jumbo CDs is how big of a minimum opening deposit a CD charges. A minimum opening deposit of $1,000 is pretty standard for traditional CDs, while a minimum opening deposit of $100,000 is pretty standard for jumbo CDs.
Why You Should Trust Us: Experts' Advice on Choosing the Best Jumbo CD
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best high-yield savings accounts to use for your money.
Here's what they had to say about CDs. (Some text may be lightly edited for clarity.)
What makes a jumbo CD good or not good?
Sophia Acevedo, banking editor, Business Insider:
"The main benefit of a jumbo CD is that it can sometimes offer a higher interest rate than a regular one because you're making a substantial initial deposit. However, if a bank pays the same interest rate regardless of how much money you deposit upfront, I would probably consider another financial institution or put my money in another type of account."
How should someone choose a CD term length?
Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":
"I would think about when you need the money and then compare that with what the prevailing CD rates are, and then what makes sense from a financial perspective, but also from your own personal timing perspective."
Mykail James, CFEI:
"I believe in having a plan for whatever the funds are. If it's supposed to be a house fund, and you want to wait for another two years to buy a house, that's what you should be thinking of when you want to have this money."
How should someone decide whether to put their money in a high-yield savings account, money market account, or CD?
Tania Brown, CFP® professional and vice president of coaching strategy at OfColor:
"So I guess we'll start off with how much money you want to put in and the level of transactions you want to have. If you want to have any transactions, that automatically takes out CDs. Then you're stuck between the high-yield savings and the money market account."
Sophia Acevedo, Business Insider:
"Generally, I think a high-yield savings account or money market account could be good options for an emergency fund or short-term savings goals. A high-yield savings account offers a higher interest rate than traditional savings accounts at brick-and-mortar banks. Meanwhile, money market accounts might be worth considering if you want more account accessibility — several offer paper checks, ATM cards, or debit cards. CDs could be worthwhile if you don't need access to some of your money, since they have a fixed interest rate for a specific term."
Our Methodology: How We Chose the Best Jumbo CDs
At Business Insider, we aim to help smart people make the best decisions with their money. We understand that "best" is often subjective, so in addition to highlighting the clear benefits of a financial product or account — a high APY (Annual Percentage Yield), for example — we outline the limitations, too. We spent hours comparing and contrasting the features and fine print of various CDs so you don't have to.
We reviewed financial institutions to find banks that offered no-penalty CDs. For each account, we compared the minimum opening deposits, early withdrawal penalties, fees, miscellaneous features, and interest rates. We also considered the overall banking experience at each bank by assessing customer support availability, mobile app ratings, security and ethics.
We assign each category a rating between 0 and 5, and star ratings can be anywhere from one to five stars. We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
See our bank account rating methodology to learn more about how we rate bank accounts.