Best Jumbo CD Rates of July 2025

What is a jumbo CD?

A jumbo or super jumbo certificate of deposit (CD) is a type of savings account that requires a large initial deposit. You’ll usually need at least $100,000 to open a jumbo CD, though lower deposit minimums may be available. In exchange for making a larger deposit, you will typically receive a higher annual percentage yield (APY) compared with a standard CD.

How does a jumbo CD work?

As with a standard CD, you agree to keep the money in your jumbo CD for a specified term, or time frame. Your bank will compound the interest — usually on a daily basis — and credit the interest to your account.

Most CD interest rates are fixed, allowing your money to grow at the same rate for the entire length of the term you choose. This means you get a guaranteed return as long as you leave your money in the account as agreed.

When your CD matures, your bank or credit union releases your initial deposit and the interest you earned. You have a choice of withdrawing the funds, rolling the money into a new CD or letting the account automatically renew.

If you decide to tap the account before its maturity date, you will likely pay an early withdrawal penalty. The penalty varies depending on the financial institution’s rules, the CD amount and the length of your CD term.

How to compare jumbo CDs

Before opening a jumbo CD, compare options from multiple banks and credit unions. If you open a CD that’s not the right fit, you will pay a penalty to cash out the account early. Finding a CD with the best term and APY to fit your goals – plus no account fees – can help you maximize your earnings.

Here are some of the metrics to compare:

• Rates: The annual percentage yield, or APY, is the amount of interest you’ll earn over a year. The higher the APY, the more interest you get and the faster your savings will grow.
• Minimum deposits: Most jumbo CDs require you to deposit at least $100,000 to open the account.
• Terms: The CD term is the amount of time you’ll need to keep your funds in the account. Terms on jumbo CDs usually range from three months to five years.
• Fees: CDs don’t typically come with monthly maintenance fees, but you should expect a penalty for early withdrawal. Find out whether other fees may apply.

How to find the best jumbo CD rates

It’s possible to open a jumbo CD account at banks and credit unions, whether they operate fully online or at branch locations.

Traditional banks

Traditional banks have brick-and-mortar branch locations and may deliver digital banking services through websites and mobile apps. You may be able to open a CD at a community bank, which typically provides more personalized services in select areas, or a national bank, which may offer more convenience and options. But some of the largest national brick-and-mortar banks don’t issue jumbo CDs.

Traditional banks that offer jumbo CDs include:

• Amegy Bank
• KeyBank
• Zions Bank

Traditional credit unions

Credit unions are not-for-profit institutions that return any profits to their members in the form of lower fees, higher savings rates and lower loan rates. This is why credit unions offer higher CD rates on average compared with banks.

Credit unions are often local to a specific community and base their membership eligibility on requirements such as where you live or work. To open a jumbo CD account or use the credit union’s other products and services, you must become a member.

Credit unions that offer jumbo CDs include:

• Alliant Credit Union
• Consumers Credit Union (IL)
• Kinecta Federal Credit Union

Online financial institutions

Online financial institutions offer various products and services primarily online. Because they don’t have a physical presence, online banks and credit unions often have lower overhead costs and can pass on the savings to account holders in the form of higher rates.

Online financial institutions that offer jumbo CDs include:

• Credit One Bank
• CIT Bank
• USAA Federal Savings Bank

Jumbo CD pros and cons

If you’re looking to put your money into a jumbo CD, consider the pros and cons before getting started.

Jumbo CD alternatives

If you have money to save, jumbo CDs aren’t your only option. Here are a few to check out.

Standard CDs

A standard CD typically has a term of up to five years and a low — or no — minimum deposit. You’ll choose where you want to open the CD, the term and the amount you want to save. After depositing the money, you’re guaranteed to earn a fixed interest rate as long as you keep the money in the account for the stated term.

However, you typically pay an early withdrawal penalty if you take money out before the maturity date. If you want more flexibility, you can shop for a no-penalty CD that allows for withdrawal before the term is up.

High-yield savings accounts

A high-yield savings account has a higher interest rate than a traditional savings account, so your money grows faster over time. Some of the best high-yield savings accounts earn rates many times higher than the national average and will not charge monthly maintenance fees or set minimum deposits.

The main benefit is that you can usually withdraw money without being penalized. Some banks limit your withdrawals and transfers to six per month, though many institutions removed this rule during the COVID-19 pandemic. Even with the limit still in place at some banks, you can withdraw more freely with a savings account compared with a CD.

Money market accounts

A money market account could be a good option if you want to save money while still being able to easily access it. Money market accounts offer benefits of both checking and savings accounts — some money markets provide check-writing and debit card access, as with checking accounts, and you’ll earn interest, as with a savings account. But you typically won’t earn as much as you would with a high-yield savings account or CD.

I bonds

An I bond is a type of savings bond that’s guaranteed to keep pace with inflation. The interest rate is split into two parts: a fixed rate that never changes and a variable interest rate that’s tied to inflation and changes every six months.

The U.S. Treasury credits interest to your account each month and compounds it twice a year for up to 30 years. You may withdraw funds after the first year, though you lose three months’ worth of interest if you take money out before the five-year mark.

An I bond could be better for long-term savings goals because of its inflation protection, while CDs might be the way to go if you’re looking for a guaranteed rate of return.

Frequently asked questions

How much does a $100,000 CD make in a year?

The amount you’ll earn on a CD depends on your initial deposit, your CD’s term and your APY. Here’s what your earnings could look like with a 12-month jumbo CD with a 4.50% rate:

Initial deposit: $100,000

Term: 12 months

APY: 4.50% APY

After 12 months, you would have earned $4,500 in interest and your balance would have grown to $104,500.

What banks have the best jumbo CD rates?

GECU, Credit One Bank and Hughes Federal Credit Union are a few financial institutions that offer competitive jumbo CD rates.

Are jumbo CDs worth it?

A jumbo CD could be a good fit if you have a large sum to deposit and you want a guaranteed rate of return. But a high-yield savings account might be a better fit if you need the option of liquidating the account, and an I bond might be a better choice for long-term savings goals.

Can you lose money with a jumbo CD?

A jumbo CD is virtually risk-free. As long as you keep the money in the account for the stated term, you’re guaranteed to get your principal back plus any interest you earned. To receive the maximum deposit insurance, keep no more than $250,000 in each CD at a federally insured bank or credit union.

Should I close a CD early to get a better rate?

If your CD is earning considerably less than current interest rates, it could make sense to pay the penalty, cash out the CD and put the money in a new account. Use a CD calculator to compare the penalty against the interest you’d earn on the new account.