The Best Jumbo CD Rates in October 2021

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Updated on Monday, October 11, 2021

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.

Right now, in an environment of low interest rates, many jumbo CDs are currently paying a lower Average Percentage Yield (APY) than traditional CDs. For example, the highest jumbo CD interest rate available now for a one-year term is Affinity Credit Union’s 0.65% APY — other accounts offer interest rates of up to 0.80% with minimum deposits as low as $500.

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.

Top jumbo CD rates in October 2021

Below are the best jumbo CD rates available for various terms, but read on for other high-ranking CDs of various lengths.

CD term

Financial institution

Annual percentage yield (APY)

Minimum opening deposit to earn APY

9-monthVeridian Credit Union0.85%

$100,000
1-yearHughes Federal Credit Union0.75%$99,000
2-yearHughes Federal Credit Union0.95%$99,000
3-yearHughes Federal Credit Union1.21%$99,000
4-yearInterior Federal Credit Union1.22%$100,000
5-yearInterior Federal Credit Union1.27%$100,000

Best jumbo CDs shorter than a year

#1Veridian Credit Union

9 Month Jumbo CD Special from Veridian Credit Union
  • Term: 9 months
  • APY: 0.85%
  • Minimum opening deposit: $100,000

Veridian Credit Union has broad membership eligibility, allowing registered users of the payment platform provider Dwolla to join the credit union. In addition to their nine-month jumbo CD special, Veridian offers a regular nine-month CD special with a minimum balance of $1,000 and an APY of 0.75% — one of the best available rates for short-term CDs.

SEE DETAILS Secured

on Veridian Credit Union’s secure website

NCUA Insured

Luana Savings Bank

6 Month CD Special from Luana Savings Bank
  • Term: 6 months
  • APY: 0.75%
  • 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, and the bank is currently offering a six-month CD special with an APY of 0.75% for balances over $100,000 (and 0.65% for balances between $50,000 and $99,999).

SEE DETAILS Secured

on Luana Savings Bank’s secure website

Member FDIC

Hughes Federal Credit Union

6 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 6 months
  • APY: 0.60%
  • Minimum opening deposit: $99,000

Hughes Credit Union is located in Arizona, but you can join from outside the area if you make a small donation to one of a few local charities. Hughes FCU offers some of the best available rates on CDs ranging from six months to three years — there are slightly lower rates for balances that fall below their $99,000 threshold for a jumbo CD.

SEE DETAILS Secured

on Hughes Federal Credit Union’s secure website

NCUA Insured

Best 1-year jumbo CDs

#1Hughes Federal Credit Union

12 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 12 months
  • APY: 0.75%
  • Minimum opening deposit: $99,000

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

SEE DETAILS Secured

on Hughes Federal Credit Union’s secure website

NCUA Insured

Interior Federal Credit Union

12 Month Jumbo Share Certificate from Interior Federal Credit Union
  • Term: 12 months
  • APY: 0.71%
  • Minimum opening deposit: $100,000

Interior Federal Credit Union allows people to join by volunteering at a national park or becoming a member of the New Mexico Wildlife Foundation. Its current APY of 0.71% on a 12-month jumbo CD is the same as its traditional certificate, which carries a minimum balance of just $500.

SEE DETAILS Secured

on Interior Federal Credit Union’s secure website

NCUA Insured

Affinity Federal Credit Union

14 Month CD Special from Affinity Federal Credit Union
  • Term: 14 months
  • APY: 0.65%
  • Minimum opening deposit: $100,000

Affinity Federal Credit Union offers membership eligibility to people who join a partner association or club, and the credit union will even pay the $5 membership application to the eligible New Jersey Coalition for Financial Education. Affinity’s 14-month and 22-month CD specials offer the best APYs among all of their CDs.

SEE DETAILS Secured

on Affinity Federal Credit Union’s secure website

NCUA Insured

Best 2-year jumbo CDs

#1Hughes Federal Credit Union

24 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 24 months
  • APY: 0.95%
  • Minimum opening deposit: $99,000

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

SEE DETAILS Secured

on Hughes Federal Credit Union’s secure website

NCUA Insured

Interior Federal Credit Union

24 Month Jumbo Share Certificate from Interior Federal Credit Union
  • Term: 24 months
  • APY: 0.81%
  • Minimum opening deposit: $100,000

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

SEE DETAILS Secured

on Interior Federal Credit Union’s secure website

NCUA Insured

Kinecta Federal Credit Union

2 Year CD from Kinecta Federal Credit Union
  • Term: 24 months
  • APY: 0.75%
  • Minimum opening deposit: $100,000

Kinecta Federal Credit Union is located in Southern California, and you can become a member by joining the Innovision Society — Kinecta will cover the one-time fee. Their jumbo CDs and terms are the same as their traditional CDs; the interest rates are marginally higher for the jumbo CDs.

SEE DETAILS Secured

on Kinecta Federal Credit Union’s secure website

NCUA Insured

Best 3-year jumbo CDs

#1Hughes Federal Credit Union

36 Month Jumbo CD from Hughes Federal Credit Union
  • Term: 36 months
  • APY: 1.21%
  • Minimum opening deposit: $99,000

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

SEE DETAILS Secured

on Hughes Federal Credit Union’s secure website

NCUA Insured

Interior Federal Credit Union

36 Month Jumbo Share Certificate from Interior Federal Credit Union
  • Term: 36 months
  • APY: 1.01%
  • Minimum opening deposit: $100,000

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

SEE DETAILS Secured

on Interior Federal Credit Union’s secure website

NCUA Insured

Ideal Credit Union

36 Month CD from Ideal Credit Union
  • Term: 36 months
  • APY: 0.95%
  • Minimum opening deposit: $70,000

In order to become a member of Ideal Credit Union, you can make a one-time $5 donation to the John D. Miller Foundation, which is made automatically with your balance when you open an account. Ideal Credit Union offers different interest rates based on CD balance tiers starting at $500, $25,000 and $70,000 minimum balances.

SEE DETAILS Secured

on Ideal Credit Union’s secure website

NCUA Insured

Best 4-year jumbo CDs

#1Interior Federal Credit Union

48 Month Jumbo Share Certificate from Interior Federal Credit Union
  • Term: 48 months
  • APY: 1.22%
  • Minimum opening deposit: $100,000

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

SEE DETAILS Secured

on Interior Federal Credit Union’s secure website

NCUA Insured

Michigan State University Federal Credit Union

4 Year Jumbo CD from Michigan State University Federal Credit Union
  • Term: 48 months
  • APY: 1.10%
  • Minimum opening deposit: $100,000

Michigan State University Federal Credit Union serves the university community, but the credit union also extends membership eligibility to anyone who donates $10 to the Desk Drawer Fund. MSU FCU provides variable term certificates from 13 to 23 months, including jumbo CDs, and has terms as short as three months.

SEE DETAILS Secured

on Michigan State University Federal Credit Union’s secure website

NCUA Insured

Achieva Credit Union

42 Month CD Special w/ Add-On from Achieva Credit Union
  • Term: 42 months
  • APY: 1.05%
  • Minimum opening deposit: $75,000

Achieva Credit Union extends membership eligibility to anyone who makes a minimum required contribution of $15 to the Achieva Foundation. Their minimum opening deposit requirement for a jumbo CD is lower than most ($75,000) and the three-and-a-half year jumbo CD actually pays a higher APY than its four-year term (1.05% versus 0.80% ).

SEE DETAILS Secured

on Achieva Credit Union’s secure website

NCUA Insured

Best 5-year jumbo CDs

#1Interior Federal Credit Union

60 Month Jumbo Share Certificate from Interior Federal Credit Union
  • Term: 60 months
  • APY: 1.27%
  • Minimum opening deposit: $100,000

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

SEE DETAILS Secured

on Interior Federal Credit Union’s secure website

NCUA Insured

Michigan State University Federal Credit Union

5 Year Jumbo CD from Michigan State University Federal Credit Union
  • Term: 60 months
  • APY: 1.25%
  • 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 Secured

on Michigan State University Federal Credit Union’s secure website

NCUA Insured

Financial Partners Credit Union

60 Month Jumbo CD from Financial Partners Credit Union
  • Term: 60 months
  • APY: 1.25%
  • Minimum opening deposit: $100,000

Financial Partners Credit Union is based out of Southern California and extends membership eligibility to anyone who lives, works or goes to school in parts of the state, as well as anyone who is an employee or retiree of select employer groups. There are over 650 employers affiliated with Financial Partners.

SEE DETAILS Secured

on Financial Partners 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.

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. The current highest APYs on jumbo CDs are less than 1.00% for terms shorter than four years.

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 late 2021, 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.