Best 5 year cd interest rates12/21/2023 Jumbo CDs offer guaranteed returns through fixed interest rates. Interest rates are often higher on jumbo CDs, which are CDs that require a larger minimum opening deposit. Consumers choose how long they wish to commit funds to an account when they select a CD term length. How Do Jumbo CDs Work?īanks and credit unions generally offer higher interest rates on CDs because account holders agree to leave funds in the CD untouched until the account matures. Jumbo CDs typically require a deposit of at least $100,000, though some financial institutions may require less.įunds kept in jumbo CD accounts are insured up to legal limits either through the Federal Deposit Insurance Corporation (FDIC) for banks or the National Credit Union Administration (NCUA) for credit unions. State Bank of Texas Jumbo CD Time DepositĪ jumbo CD is identical to a regular CD, except it requires a higher minimum opening deposit. State Department Federal Credit Union Jumbo Certificate Quorum Federal Credit Union Term Savings $100,000 or More Michigan State University Federal Credit Union Jumbo Certificate
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