Top Jumbo CD Rates as of 2021 | MagnifyMoney
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Best Jumbo CDs in April 2022

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Jumbo certificates of deposit (CDs) offer a cautious way to save large sums of money. Like traditional CDs, jumbo CDs feature a predetermined interest rate and term length, as well as early withdrawal penalties. The key difference is that jumbo CDs require much higher opening minimum deposits: typically, that number is $100,000, but we’ve included some with lower minimums as well.

Latino Community Credit Union currently offers the best jumbo CD rates for deposits of $200,000 or more for 2-year, 3-year, 4-year and 5-year terms. They also have jumbo CDs with lower interest rates and a $100,000 minimum.

Top jumbo CD rates in November 2022

Below are the best jumbo CD rates available for various terms.
CD termFinancial institutionAnnual percentage yield (APY)Minimum opening deposit to earn APY
6-monthEFCU Financial0.85%$100,000
1-yearLuana Savings Bank1.31%$100,000
2-yearLatino Community Credit Union1.80%$200,000
3-yearLatino Community Credit Union2.10%$200,000
4-yearLatino Community Credit Union2.15%$200,000
5-yearLatino Community Credit Union2.35%$200,000

Best jumbo CDs shorter than a year

#1 EFCU Financial

6 Month Jumbo CD from EFCU Financial
  • Term: 6 months
  • APY: 0.85%
  • Minimum opening deposit: $100,000

EFCU Financial is a credit union based in South Louisiana, though people from outside the area can join if they become a member of the EFCU Financial Foundation or Louisiana Wildlife Foundation. In addition to their regular and jumbo certificates, EFCU Financial offers a 30-month “bump-up” certificate that allows you to adjust your rate once during the term.

SEE DETAILS

on EFCU Financial’s secure website

NCUA Insured

Hughes Federal Credit Union

6 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 6 months
  • APY: 0.85%
  • Minimum opening deposit: $99,000

Hughes Federal Credit Union is based in Tucson, Ariz., but it allows people from a wide range of organizations and affiliations to become members. Its jumbo CD rates reach 1.71% APY for a 3-year term.

SEE DETAILS

on Hughes Federal Credit Union’s secure website

NCUA Insured

Michigan State University Federal Credit Union

6 Month Jumbo CD from Michigan State University Federal Credit Union
  • Term: 6 months
  • APY: 0.80%
  • Minimum opening deposit: $100,000

Michigan State University Federal Credit Union serves the university community, but the credit union also extends membership to anyone who donates $10 to the Desk Drawer Fund. In addition to this 6-month jumbo CD, it also offers a wide range of terms with competitive APYs.

SEE DETAILS

on Michigan State University Federal Credit Union’s secure website

NCUA Insured

Best 1-year jumbo CDs

#1 Luana Savings Bank

12 Month CD from Luana Savings Bank
  • Term: 12 months
  • APY: 1.31%
  • Minimum opening deposit: $100,000

Headquartered in Northeastern Iowa, Luana Savings Bank has a small geographic footprint and specializes in agricultural lending for farmers in the area. Luana offers CDs with different interest rate tiers.

SEE DETAILS

on Luana Savings Bank’s secure website

Member FDIC

Credit One Bank

12 Month Jumbo CD from Credit One Bank, National Association
  • Term: 12 months
  • APY: 1.20%
  • Minimum opening deposit: $100,000

Las Vegas-based Credit One Bank is an online-only bank that does not have branch locations. In addition to its strong rate for a 1-year term, it also offers competitive interest rates for jumbo CDs of term lengths ranging from six months to 60 months.

SEE DETAILS

on Credit One Bank, National Association’s secure website

Michigan State University Federal Credit Union

1 Year Add-On Jumbo CD from Michigan State University Federal Credit Union
  • Term: 12 months
  • APY: 1.05%
  • Minimum opening deposit: $100,000

See above for more information on Michigan State University Federal Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Michigan State University Federal Credit Union’s secure website

NCUA Insured

Best 2-year jumbo CDs

#1 Latino Community Credit Union

24 Month Jumbo CD from Latino Credit Union
  • Term: 24 months
  • APY: 1.80%
  • Minimum opening deposit: $200,000

Latino Community Credit Union was founded in 2000 after a series of robberies in Durham, N.C., targeting Latino immigrants. Its mission is to offer financial services and education that empower communities. Today, it’s easy for anyone to join the credit union with a one-time $10 donation to the Latino Community Development Center, which offers financial education. The credit union’s jumbo CDs offer highly competitive rates across all terms.

SEE DETAILS

on Latino Credit Union’s secure website

NCUA Insured

Luana Savings Bank

24 Month CD from Luana Savings Bank
  • Term: 24 months
  • APY: 1.61%
  • Minimum opening deposit: $100,000

See above for more information on Luana Savings Bank and its jumbo CDs.

SEE DETAILS

on Luana Savings Bank’s secure website

Member FDIC

Hughes Federal Credit Union

29 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 29 months
  • APY: 1.51%
  • Minimum opening deposit: $99,000

See above for more information on Hughes Federal Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Hughes Federal Credit Union’s secure website

NCUA Insured

Best 3-year jumbo CDs

#1 Latino Community Credit Union

36 Month Jumbo CD from Latino Credit Union
  • Term: 36 months
  • APY: 2.10%
  • Minimum opening deposit: $200,000

See above for more information on Latino Community Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Latino Credit Union’s secure website

NCUA Insured

Hughes Federal Credit Union

36 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 36 months
  • APY: 1.71%
  • Minimum opening deposit: $99,000

See above for more information on Hughes Federal Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Hughes Federal Credit Union’s secure website

NCUA Insured

Luana Savings Bank

36 Month CD from Luana Savings Bank
  • Term: 36 months
  • APY: 1.71%
  • Minimum opening deposit: $100,000

See above for more information on Luana Savings Bank and its jumbo CDs.

SEE DETAILS

on Luana Savings Bank’s secure website

Member FDIC

Best 4-year jumbo CDs

#1 Latino Community Credit Union

48 Month Jumbo CD from Latino Credit Union
  • Term: 48 months
  • APY: 2.15%
  • Minimum opening deposit: $200,000

See above for more information on Latino Community Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Latino Credit Union’s secure website

NCUA Insured

Luana Savings Bank

48 Month CD from Luana Savings Bank
  • Term: 48 months
  • APY: 1.82%
  • Minimum opening deposit: $100,000

See above for more information on Luana Savings Bank and its jumbo CDs.

SEE DETAILS

on Luana Savings Bank’s secure website

Member FDIC

Genisys Credit Union

4 Year Jumbo Certificate from Genisys Credit Union
  • Term: 48 months
  • APY: 1.60%
  • Minimum opening deposit: $100,000

Genisys Credit Union is based in Michigan, and residents of the state (or anyone nationwide who makes a donation to Arthritis Foundation or the Paint Creek Center for the Arts) are eligible to become members. It offers jumbo CDs with terms ranging from six to 60 months. APYs go all the way up to 1.75% for a 5-year jumbo CD.

SEE DETAILS

on Genisys Credit Union’s secure website

NCUA Insured

Best 5-year jumbo CDs

#1 Latino Community Credit Union

60 Month Jumbo CD from Latino Credit Union
  • Term: 60 months
  • APY: 2.35%
  • Minimum opening deposit: $200,000

See above for more information on Latino Community Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Latino Credit Union’s secure website

NCUA Insured

Luana Savings Bank

5 Year CD from Luana Savings Bank
  • Term: 60 months
  • APY: 1.87%
  • Minimum opening deposit: $100,000

See above for more information on Luana Savings Bank and its jumbo CDs.

SEE DETAILS

on Luana Savings Bank’s secure website

Member FDIC

Michigan State University Federal Credit Union

5 Year Jumbo CD from Michigan State University Federal Credit Union
  • Term: 60 months
  • APY: 1.75%
  • Minimum opening deposit: $100,000

See above for more information on Michigan State University Federal Credit Union’s membership eligibility requirements and jumbo CDs.

SEE DETAILS

on Michigan State University Federal Credit Union’s secure website

NCUA Insured

What is a jumbo CD?

A jumbo certificate of deposit (CD) is essentially the same as a traditional CD but with a higher minimum deposit requirement and sometimes higher APYs. Financial institutions have different criteria for what’s considered a jumbo CD — MagnifyMoney selected CDs with a minimum of at least $50,000 for this list.

Right now, in an environment of low interest rates, many jumbo CDs are currently paying a lower APY than traditional CDs. Jumbo CDs used to be incentivized with higher interest rates, but that’s no longer the case. If you intend to store your money in a long-term savings vehicle, a CD might be right for you, but you should make sure you’re getting the best available interest rate on that deposit.

How does a CD work?

At the time of account opening, the CD accountholder makes a deposit and agrees to a predetermined maturation date and interest rate borne on the account. CDs are safe, as long as the bank or credit union is insured by the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA).

Once a CD has been opened, accountholders can’t deposit more money or withdraw their funds without incurring a penalty (in most cases, though there are some specialty CDs that offer that flexibility). The interest rate is also locked in: even if the broader rate environment changes, which affects the APY paid on other types of deposit accounts, the CD rates will stay the same throughout the term.

Alternatives to jumbo CDs

There are plenty of alternatives to jumbo CDs, including traditional CDs (and with traditional CDs, it’s also easier to structure a CD ladder because of their lower minimum deposit requirements, for example). The APY paid on jumbo CDs is currently not much higher than the APY paid on traditional CDs.

A savings account can be a good long-term alternative to a CD because it gives the accountholder the ability to withdraw their money penalty-free and also bears interest. Interest rates for CDs are generally higher than interest rates for savings accounts, but as of early 2022, the rates paid on deposit accounts are lower than usual across the board. Rates for deposits in savings accounts could improve, while the APY on a jumbo CD is fixed for the entire duration of the deposit.

Jumbo CDs require a substantial deposit, and those funds could be invested in other ways: the stock market may be too risky for the conservative saver, but bond investments are subject to less volatility. Real estate investments, including real estate investment trusts (REITs), are another option.

Methodology for choosing best jumbo CDs

Using information from DepositAccounts, which surveys hundreds of banks and credit unions, we compiled lists of the best jumbo CDs for various term lengths. Each CD must have a minimum deposit of at least $50,000 to be considered a jumbo CD, and each CD must be offered nationally through an FDIC-insured bank or an NCUA-insured credit union. Credit unions must have broad membership eligibility rules in order to qualify.