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Best Jumbo CD Rates for September 2023

Our Guide to the Highest Jumbo CD Rates Available to Anyone in the U.S.

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The annual percentage yields (APYs) listed below are up to date as of the date of publication on this article. Our methodology consists of reviewing CD rates every weekday morning and updating the information below accordingly.

For savers who want to sock away $100,000 or more in a virtually risk-free investment, jumbo certificates of deposit (CDs) offer a return that is both safe and predictable, if modest. To help you earn as much as you can, we've done the research for you to find the best nationally available jumbo CDs, culled from more than 50 banks and credit unions that offer jumbo CDs nationwide.

Below are the top CD rates available from our partners, followed by a ranking of some of the best jumbo and regular CD rates nationwide.

In the News

Today’s CD rates are higher than we’ve seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation. Though the Fed held its benchmark rate steady on Sept. 20—after 11 hikes in the previous 12 meetings—it has indicated that an additional increase in 2023 is still on the table. CD rates closely follow the fed funds rate, so if the Fed implements a further increase this year, that could nudge CD rates higher still.

To aid your decision, we've ranked the best jumbo CDs below. To be included in this list, a CD's minimum deposit requirement must be at least $50,000, though the majority of the top-paying jumbo CDs require $100,000.


CD shoppers beware, as certificates with "jumbo" in their name aren't always your most lucrative option. As shown here, sometimes you can do better by opening a non-jumbo CD and simply putting a jumbo-sized deposit into it.

In cases where more than one institution pays the same top rate, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name.

Ranked by highest APY, then shortest term, then lowest minimum
Best 3-Month Jumbo CDs Rate Term Minimum
CD Bank 5.20% APY 3 months $100,000
All In Credit Union 5.17% APY 3 months $100,000
Luana Savings Bank 4.52% APY 3 months $100,000
Best non-Jumbo option: TotalDirectBank 5.66% APY 3 months $25,000
Best 6-Month Jumbo CDs Rate Term Minimum
One American Bank 5.85% APY 170 days $100,000
Latino Community Credit Union 5.60% APY 6 months $100,000
Finworth 5.60% APY 9 months $50,000
Best non-Jumbo option: TotalDirectBank 5.76% APY 6 months $25,000
Best 1-Year Jumbo CDs Rate Term Minimum
All In Credit Union 5.80% APY 12 months $100,000
My eBanc 5.77% APY 12 months $100,000
Connexus Credit Union 5.76% APy 12 months $100,000
Best non-Jumbo option: Credit Human 5.80% APY 12–17 months $500
Best 18-Month Jumbo CDs Rate Term Minimum
Finworth 5.80% APY 15 months $50,000
Credit One Bank 5.65% APY 15 months $100,000
All In Credit Union 5.59% APY 12 months $100,000
Best non-Jumbo option: Credit Human 5.80% APY 12–17 months $500
Best 2-Year Jumbo CDs Rate Term Minimum
Finworth 5.50% APY 21 months $50,000
Luana Savings Bank 5.37% APY 24 months $100,000
Connexus Credit Union 5.26% APY 24 months $100,000
Best non-Jumbo option: Vibrant Credit Union 5.50% APY 23 months $5
Best 3-Year Jumbo CDs Rate Term Minimum
U.S. Senate Federal Credit Union 5.28% APY 36 months $100,000
Luana Savings Bank 5.27% APY 30 months $100,000
Cadets Federal Credit Union 5.09% APY 36 months $50,000
Best non-Jumbo option: U.S. Senate Federal Credit Union 5.23% APY 36 months $1,000
Best 4-Year Jumbo CDs Rate Term Minimum
U.S. Senate Federal Credit Union 4.86% APY 48 months $100,000
Lafayette Federal Credit Union 4.84% APY 48 months $100,000
Cadets Federal Credit Union 4.83% APY 48 months $50,000
Best non-Jumbo option: Chartway Credit Union 5.00% APY 50 months $500
Best 5-Year Jumbo CDs Rate Term Minimum
U.S. Senate Federal Credit Union 4.92% APY 60 months $100,000
Cadets Federal Credit Union 4.83% APY 60 months $50,000
Quorum Federal Credit Union 4.60% APY 60 months $100,000
Best non-Jumbo option: First Harvest Credit Union 4.89% APY 60 months $1,000

Expand your search for a great rate by also checking our ranking of the best CD rates, with terms ranging from three months to 10 years.

Further details on the top-paying jumbo certificate in every term are outlined below, complete with information on minimum deposits, early withdrawal penalties, and, where applicable, how you can join the credit union.

Best 3-month jumbo CD: CD Bank – 5.20% APY

  • Early withdrawal penalty: 3 months of interest
  • About: CD Bank is the online division of TBK Bank, a subsidiary of Triumph Financial.

Best 6-month jumbo CD: One American Bank – 5.85% APY

  • Early withdrawal penalty: 9 months of interest
  • About: Founded in 1883, One American operates three branches in South Dakota while serving customers across the country online.

Best 1-year jumbo CD: All In Credit Union – 5.80% APY

  • Early withdrawal penalty: 3 months of interest
  • Membership: Anyone can join All In by signing up for a free membership in the?Fort Rucker/Wiregrass Chapter of the Association of United States Army, keeping at least $5 in a savings account, and paying a one-time fee of $1.

Best 18-month jumbo CD: Finworth – 5.80% APY

  • Early withdrawal penalty: 10 months of interest
  • Membership: Finworth is the digital arm of Tennessee-based INSBANK. Formerly known as INSBANK Online, it offers CDs ranging in term from three months to three years.

Best 2-year jumbo CD: Finworth – 5.50% APY

  • Early withdrawal penalty: 10 months of interest
  • Membership: Finworth is the digital arm of Tennessee-based INSBANK. Formerly known as INSBANK Online, it offers CDs ranging in term from three months to three years.

Best 3-year jumbo CD: U.S. Senate Federal Credit Union – 5.28% APY

  • Early withdrawal penalty:?6 months of interest
  • Membership:?Anyone can join USSFCU by agreeing to a free one-year membership in the nonprofit American Consumer Council and keeping at least $5 in a savings account.

Best 4-year jumbo CD: U.S. Senate Federal Credit Union – 4.86% APY

  • Early withdrawal penalty:?12 months of interest
  • Membership:?Anyone can join USSFCU by agreeing to a free one-year membership in the nonprofit American Consumer Council and keeping at least $5 in a savings account.

Best 5-year jumbo CD: U.S. Senate Federal Credit Union – 4.92% APY

  • Early withdrawal penalty: 12 months of interest
  • Membership: Anyone can join USSFCU by agreeing to a free one-year membership in the nonprofit American Consumer Council and keeping at least $5 in a savings account.

Pros and Cons of a Jumbo CD

  • May pay a higher APY than standard CDs

  • Pays a rate guaranteed not to change

  • Offers entirely predictable earnings

  • Is virtually risk-free

  • Allows a single investment for one large lump sum

  • Requires a very large deposit

  • Locks up your money until maturity

  • Incurs a penalty if withdrawn early

  • May have a lower rate of return than other options

Pros Explained

  • May pay a higher APY than standard CDs: Banks and credit unions are sometimes willing to pay a higher rate if you are willing to deposit a much larger amount. But this is not always the case, so it's smart to always compare all the CD rates.
  • Pays a rate guaranteed not to change: Like standard CDs, the rate you lock in with a jumbo CD is a fixed rate offered for the full CD term, meaning the institution cannot alter the rate it has promised.
  • Offers entirely predictable earnings: Because you know the exact rate you'll be earning, and the date of your maturity, you can predictably calculate how much your CD balance will be when you withdraw the funds. In contrast, investments like stocks or bonds have very uncertain returns, including the possibility of losing value.
  • Is virtually risk-free: If you open your CD at an FDIC-insured bank or an NCUA-insured credit union, your deposits up to $250,000 per person, per institution are federally insured against any potential institution failure.
  • Allows a single investment for one large lump sum: If you want to invest a large sum of cash in CDs, it can be convenient to do so with one large jumbo CD rather than several CDs with smaller deposit requirements.

Cons Explained

  • Requires a very large deposit: The most common deposit threshold for a jumbo CD is $100,000, which may be more than you have to invest, or want to put in a single savings vehicle.
  • Locks up your money until maturity: Opening a jumbo CD means you will not have access to a large sum of money for months or years.
  • Incurs a penalty if withdrawn early: If you do opt to withdraw your funds before the maturity date, the bank or credit union will impose an early withdrawal penalty, which will reduce the earnings you are paid.
  • May have a lower rate of return than other options: Both standard and jumbo CDs typically pay lower returns than riskier investments like stocks and bonds, where you may be able to earn quite a bit more.

Always carefully review a CD's terms as provided by the bank or credit union before signing paperwork and funding the account. In particular, be sure you've reviewed the institution's early withdrawal penalty and are comfortable with it. If it seems overly harsh, such as possibly eating away at your principal investment, you should consider opening a similar CD at another institution that has a more reasonable policy.

Alternatives to a Jumbo CD

For investors whose primary concern is preserving their principal, CDs are one of several options you can weigh. And jumbo CDs can make sense when you have a large amount of cash to invest in this way. But some of the alternatives may suit your goals better.

Standard (Non-Jumbo) CDs

As we've mentioned, just because a CD requires a jumbo-sized deposit doesn't mean it pays a jumbo-sized rate. In fact, it's commonly true that you can earn a higher annual percentage yield (APY) by opening a standard CD and simply putting a large deposit into it as the vast majority of CDs have a very maximum investment limit (such as $250,000 or $1 million).

Savings and Money Market Accounts

If you want more flexibility with your money, you could instead put your funds into one of the best high-yield savings accounts or best money market accounts. That would allow you to withdraw and deposit your funds more or less anytime you want. The disadvantage, however, is that rates on these accounts are variable. That means they can go down at any time, unlike a CD rate that is fixed for the entire term.


Various types of bonds are also possibilities for your cash savings. Some, like U.S. Treasury savings bonds and Treasury notes, are very similar to CDs in that the rate is typically predictable if you hold the bond until maturity. They are also backed by the federal government, so like CDs, they are exceptionally safe.

U.S. Treasury I bonds are another option. But their fixed rate is only known for six months at a time, with the rate being adjusted twice a year based on the current inflation rate (hence the name I bonds). Like a CD, I bonds have an early withdrawal penalty, but it's a mild three months' worth of interest. But unlike a CD, you cannot for any reason cash in an I bond during its first 12 months.


To potentially earn a little more on your investment than a CD can provide, diversified bond funds are another idea. Of course, there's always a risk that bond returns could be negative from one year to the next, so the longer your time horizon, the less risky an investment in bonds would be. If you're considering a relatively short CD term instead, like 1 to 2 years, or even less, then bonds represent a much riskier option than a CD, with no guarantee of delivering a return.


If you know you won't need your funds for many years, you could consider investing in stocks instead. The upside is that you could potentially earn quite a bit more in the stock market than with a fixed CD rate. But the significant downside is that you can always lose money on equities, including scenarios where you lose most of your investment. So while CDs won't return as much as stocks that are doing well, on the flip side, CDs are guaranteed to grow with no risk of you losing your initial principal.

Frequently Asked Questions

  • What Is a Jumbo CD?

    A jumbo CD is a CD that requires a much higher initial deposit. Traditionally, the term "jumbo" has referred to CDs requiring an investment of at least $100,000. But since no banking rules or regulations stipulate what an institution can call a jumbo CD, banks and credit unions apply the term liberally according to their deposit and marketing strategy. As such, the marketplace includes jumbo CDs, or sometimes "mini jumbos," requiring just $25,000 or $50,000. Jumbo CDs work the same as regular CDs where you deposit a lump sum to receive a fixed rate of interest after a certain period of time.

  • What Is the Difference Between Regular, Jumbo, and IRA CDs?

    Aside from higher deposit requirements, jumbo CDs function in the same way as regular CDs. The depositor chooses a CD term based on how long they are willing to commit their funds and decides how much to deposit. The bank or credit union then provides an agreement documenting how much interest they will pay on the CD, what the compounding period will be, and what the penalty policy is for any withdrawals made prior to the CD's maturity date.

    The main difference to consider, therefore, between most conventional and jumbo CDs is the rate you can earn. Though institutions are, in theory, willing to pay higher interest on larger deposits than smaller ones, this is often not the case, with the top standard CD rates often beating out the best jumbo rates. For that reason, CD shoppers are wise to research the top current rates for both types to determine which institution's product will provide the highest return for their deposit amount.

    As for IRA CDs, these are certificates that behave in all the same ways as regular or jumbo CDs except that they are tax-sheltered according to the IRS' rules for IRA accounts. They are simply another type of retirement account or vehicle, and they often are used for funds a saver wants to be invested more conservatively than a securities investment offers and with a focus on capital preservation since CD balances generally do not lose principal.

    As tax-favored retirement products, IRA CDs involve an additional penalty policy for any withdrawals made before retirement age, along the same lines as an early withdrawal from any other kind of IRA account.

  • What If I Need My Money Before the CD Reaches Maturity?

    Anytime you open a certificate of deposit, the terms of your agreement with the bank or credit union will include their policy on how they'll calculate a penalty should you request to withdraw the funds before the maturity date. Most typically, the early withdrawal penalty is defined as a certain number of months of earned interest, which will be deducted from your balance when you cash out.

    Early withdrawal penalties are typically the same whether the CD is a standard or jumbo CD. However, the penalty calculations across various institutions vary incredibly widely. Also be sure you've reviewed the early withdrawal terms before signing on the dotted line, so you can be sure the penalty is within reasonable boundaries. For instance, avoid any CD whose penalty can eat into your original principal.

  • How Safe Are Jumbo CDs?

    An investment in a jumbo CD is just as safe as a deposit made in a regular CD or any other account at the bank. That's because FDIC insurance (and NCUA insurance for credit unions) doesn't distinguish the types of deposit products it covers. Its limits are strictly defined by a dollar threshold, which is $250,00 of coverage from both the FDIC and NCUA.

    Note, however, that the $250,000 limit applies per person and per institution. So coverage can be increased significantly by spreading deposits across accounts held by more than one person (like two spouses) or at more than one institution.

    In any case, it's important to be aware of any situation where you might approach the $250,000 threshold. If you open two $100,000 CDs at one bank, for instance, but also have another $100,000 in checking and money market accounts at that same institution, $50,000 of your deposits would be unprotected by the FDIC should the bank fail. Whether the funds are in regular or jumbo CDs will have no bearing.

  • How Do Regular, Jumbo, and Super Jumbo CD Rates Compare?

    If comparing a regular CD and a jumbo CD at the same institution, the jumbo certificate rate will usually be higher, if only by a small amount. However, what matters most to the savvy CD shopper is how much the best regular CDs in the country pay vs. the best jumbo CD, regardless of institution. And this is where standard CDs have an advantage.

    The number of banks and credit unions that offer regular CDs nationwide runs above 200. In contrast, only about 50 institutions market nationally available jumbo CDs. So the standard CD marketplace—and the rate competition—is about four times the size of the jumbo market.

    In addition, the best CD rates in the country are often special promotions and limited-time CD offers. For instance, a bank may offer one or two CD terms as specials, with an elevated rate compared to its regular array of certificates. In contrast, it is rare to encounter a jumbo CD special.

    Super jumbo CDs are even less common than jumbo CDs, with only a few major institutions offering a product by that name. The biggest player with a super jumbo CD on their product menu is USAA Bank, which offers regular CDs with a minimum of $1,000, jumbo CDs at $95,000, and super jumbo certificates at $175,000. There are also jumbo CDs with larger minimums than $95,000 or $100,000, even if the institutions that offer them don't call them super jumbos. The most common tier above $100,000 is a minimum deposit of $250,000.

  • Are Jumbo CDs Negotiable?

    Whether or not a CD is negotiable is typically a function of how the CD was acquired, rather than whether it is standard or jumbo in size. CDs opened directly with a bank or credit union are held in the depositor's name and are rarely negotiable. They can be liquidated only according to the bank's policy on early withdrawals and the associated penalty.

    Alternatively, CDs can be opened through brokerage firms, and these certificates, called brokered CDs, are bought and sold on a secondary market. Instead of going to a bank to open one of these certificates, you do so via your account at a brokerage house (e.g., Vanguard, Fidelity, etc.), and multiple CDs from more than one institution can be held in a single brokerage account, making the process of tracking and managing more than one certificate much simpler.

    The trade-off for this convenience is two-fold. First, the rates of return on brokered CDs are usually less competitive than direct bank CDs. Second, if you want to withdraw your funds from a brokered CD, you cannot simply liquidate it and pay the bank a penalty. Instead, you must put the CD up for sale on the secondary market operated by the brokerage, and the price you receive (which depends on the current rate environment) is far from predictable.

Rate Collection Methodology Disclosure

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide, and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the CD's minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.

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Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Federal Reserve System. "Open Market Operations."

  2. TreasuryDirect. "I Bonds."

  3. "Bonds."