Compare jumbo CD accounts and interest rates from hundreds of banks to help maximize your earnings.
Jumbo certificates of deposit (CDs) are attractive to savers because, in exchange for a higher minimum deposit, you can often enjoy higher CD rates than with a regular CD account.
As of September 18, 2017, U.S. institutions had a national average of 0.30% for 1 year CD rates for jumbo accounts, according to the Federal Deposit Insurance Corporation. By comparison, some institutions featured on MoneyRates.com have rates higher than a 1.5% annual percentage yield.
Traditionally, jumbo CD rates were reserved for certificates of deposit with a minimum opening deposit of $100,000. However, some banks are relaxing these standards, especially for longer-term CDs. For example, the highest CD rates on 5-year CDs may apply at balances well below $100,000.
It is now possible to find a CD paying the equivalent of jumbo CD rates but with little or no minimum deposit. To find the best interest rates and terms, it’s simply a matter of doing the research before you open your account.
That’s why MoneyRates.com regularly monitors more than 800 CD products, featuring some of the best interest rates for easy comparison. Here’s our methodology.
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So what's the best way to research and compare bank rates?
For one, MoneyRates tracks the best CD rates for you, with some rates higher than the national average.
U.S. institutions had a national average of 0.30% for 1 year CD rates for jumbo accounts, according to the Federal Deposit Insurance Corporation update on September 18, 2017. In comparison, some institutions featured on MoneyRates.com have rates higher than a 2% annual percentage yield.
Whether investing in regular or jumbo CDs, you could look into building a CD ladder that could help maximize yields to grow your money.
However, be aware of charges if you withdraw from your jumbo savings account too early. Before investing in, say, a 5 year jumbo CD with 1.5% interest rate, smart savers need to consider that their money will be locked into that rate for the entire period, unless they want to pay an early-withdrawal penalty.
Another point to remember when investing in jumbo CD accounts: CDs have FDIC insurance coverage up to $250,000 per depositor, per institution. Keep an eye on the total in your account to be sure you don’t exceed this.
Compare jumbo accounts in the table below to find the highest jumbo CD rates and great perks.