Best Jumbo CD Rates for December 2024: Up to 4.85%
The Fed cut rates by a quarter point at its Nov. 7 meeting, its second rate cut in two meetings. Coupled with September's half-point cut, the federal funds rate has been reduced by a cumulative 0.75 percentage points to a range of 4.50%–4.75%.
CD rates are influenced by the fed funds rate, which means CD rates are expected to come down as the Fed lowers rates.
Investopedia collects thousands of CD rates from hundreds of banks and credit unions every weekday. When ranking CD rates, we look at factors like term, early withdrawal penalty, and minimum opening deposit. Investopedia launched in 1999 and has been helping readers find the best CD rates since 2019.
The CDs we recommend must be available nationwide and offered by a bank that's insured by the Federal Deposit Insurance Corporation (FDIC) or a credit union insured by the National Credit Union Administration (NCUA), which cover up to $250,000 per depositor. In addition, to be eligible for our jumbo rankings, each CD's minimum opening deposit requirement must be larger than $25,000 but not higher than $100,000. Our resulting rankings present a list of top-paying options that typically offer three to five times as much as the national average rate—sometimes even more.
Ranked below are the top 15 or more APYs on nationally available jumbo CDs. To qualify, CDs must have a minimum deposit of at least $50,000. In the case of ties, we rank them first by the shortest available term, then by the lowest minimum deposit, and finally by the smallest early withdrawal penalty.
Jumbo CDs work essentially the same as standard certificates of deposit. You agree to make a lump-sum deposit into the CD and keep it there for your chosen term of maturity, and in exchange, the bank or
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