Edward Jones CD Rates

Edward Jones’ brokered CDs offer significantly higher APYs

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Edward Jones CD Rates

Since 1922, Edward Jones has been a leading financial services firm. It has a range of investment and deposit products, including certificates of deposit (CDs). Edward Jones’ CDs are brokered accounts, meaning it offers CDs from multiple banks. As a result, Edward Jones CD rates can be significantly higher than the national average.?

The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.

Edward Jones CD Overview
CD Term APY Minimum Balance
3 months 5.40% $1,000
6 months 5.35% $1,000
9 months 5.40% $1,000
12 months 5.50% $1,000
18 months 5.35% $1,000
24 months 5.25% $1,000
30 months - -
36 months 5.00% $1,000
48 months 4.80% $1,000
60 months 4.65% $1,000
84 months 4.40% $1,000
120 months 4.25% $1,000

Edward Jones CDs: Key Features

APY Range 4.25%–5.50%
Minimum Balance $1,000
Term Range 3–120 months
Early Withdrawal Penalty Early withdrawals not permitted

With Edward Jones, the minimum amount to open a CD is $1,000, and CD terms range from 3 to 60 months.?

Rates for CDs at Edward Jones can be much higher than you’ll find elsewhere. However, there are some key details you should know before opening an account.

Early Withdrawals Are Not Permitted

With a CD, your money is locked into the account until its maturity date. However, most banks and credit unions allow you to make early withdrawals if you pay a penalty or forfeit a portion of the accrued interest. 

Edward Jones’ CDs work differently, Because they are brokered CDs, early withdrawals are not permitted at all. The only exception is in the event of the death of the CD owner or if the owner has been adjudicated incompetent, meaning the owner is declared unfit to manage their affairs. In those scenarios, an early withdrawal is usually permitted without penalty. Otherwise, you cannot access the cash in the CD until its maturity date. 

The only way to “withdraw” money from an Edward Jones CD before its maturity date is to sell it on the secondary market. There is no guarantee that the CD will sell, or it may sell for less than the original principal.

CDs Are Not Automatically Renewed?

Generally, banks give you a short grace period once the CD reaches its maturity date. You have a few days to decide to transfer funds or open a new CD. But if you don’t take action, the bank will automatically renew the CD and lock it into a new term.?

With Edward Jones, you have to make a note of the maturity date and come up with a plan on your own. Edward Jones’ CDs are not automatically renewed or rolled over into new CDs—the funds will automatically be credited to your Edward Jones account.

Interest Does Not Compound

With most interest-bearing CDs, interest compounds, meaning you earn interest on the interest you already earned. However, that’s not the case with CDs opened through Edward Jones. 

Interest on Edward Jones’ CDs is not compounded. With CDs opened on the primary market, interest is calculated based on the actual number of days the account is open and the annual percentage rate (APY).

Compare Savings Account Rates

As a broker, Edward Jones is able to offer higher APYs than most banks and financial institutions. And while some banks advertise higher rates for select terms, Edward Jones’ CDs have higher than average rates on all term lengths.?

Some banks also have no minimum deposit requirements, but Edward Jones requires you to deposit at least $1,000. And the maximum term Edward Jones offers is 60 months; other banks and financial institutions, such as Discover, offer terms as long as 120 months. 

Are Edward Jones CDs FDIC-Insured?

Yes, CDs opened through Edward Jones are backed by FDIC deposit insurance. Your account is covered up to a maximum of $250,000.

Does Edward Jones Charge Fees to Open a CD?

Edward Jones does charge fees, selling concessions, and commissions for CDs. What you pay depends on Edward Jones’ role in the transaction:

  • When Edward Jones acts as the principal: With principal transactions, you are opening a CD through Edward Jones’ own inventory. When Edwards Jones is the principal, it receives a selling concession that is incorporated into the initial offering price.?
  • When Edward Jones acts as the agent: If Edward Jones is the agent, the firm facilitates opening a CD with another financial institution or brokerage. When Edward Jones is the agent, you pay the firm a commission for the transaction.?

If you buy or sell secondary CDs, meaning CDs that were previously issued, you may pay a commission as high as 2% of the dollar amount you buy.?

In all CD transactions, your Edward Jones’ financial advisor will receive a percentage of any commissions, selling concessions, or fees.?

Are Edward Jones CD Rates Competitive?

According to the FDIC, the average rate for 12-month CDs was 1.76% as of August 2023. Typical rates for CDs opened through Edward Jones were significantly higher.?

Although Edward Jones offers higher-than-average CD rates, the broker does have some limitations and requirements. Before opening a CD with Edward Jones, check out the best CD rates to ensure you’re picking the right CD for your needs.?

How Do You Open a CD Account at Edward Jones?

Unlike most banks and financial institutions, which allow you to open a new CD online, Edward Jones requires extra steps.?

To open a CD, you must contact a local Edward Jones financial advisor. You will likely need to meet with your Edward Jones advisor in person and complete paperwork in their office before you can open a CD.?

To get started, use Edward Jones’ financial advisor search tool to find an advisor near you.

Article Sources
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  1. Edward Jones. "Firm Profile."?

  2. Edward Jones. "Certificates of Deposit."

  3. FDIC. "National Rate Caps."?

  4. Edward Jones. "Current Rates."

  5. Edward Jones. "Certificate of Deposit Disclosure Statement."

  6. Edward Jones. "Understanding How We Are Compensated for Financial Services."