The best jumbo CD rates of November 2022

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A jumbo CD is a type of CD with a high minimum deposit that pays a higher interest rate than a regular CD. A jumbo CD may be worthwhile if you have more than $100,000.

Jumbo CDs aren’t common, and ones that pay high interest rates are even less common. Below, you’ll find our top picks in jumbo CDs, which have either competitive interest rates or a variety of terms.

Navy Federal Credit Union Standard Certificate

Why it stands out: You’ll earn the highest rates with a $100,000 minimum. However, Navy Federal’s rates are still regardless of your account balance. Navy Federal compounds your interest daily like most banks would, unlike many credit unions that compound monthly. Navy Federal also offers terms for up to 7 years, while many banks cap out at 5 years. 

Term length options: 3 months to 7 years

What to look out for: You or a family member must have ties to the military for you to become a member of Navy Federal. Or you can join by living with a Navy Federal member, or by being a Department of Defense civilian personnel or contractor.

Consumers Credit Union Jumbo Certificate Account

Why it stands out: Consumers Credit Union pays competitive rates on jumbo CDs, especially for longer terms. Consumers makes it easier to become a member than most credit unions do — you just have pay $5 to join the Consumers Cooperative Association, then deposit $5 in a Consumers savings account. Unlike most credit unions, Consumers compounds interest daily, meaning …read more

Source:: Businessinsider

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