When you have hundreds of thousands of dollars at your disposal, your investment options can seem endless. If you’re looking to diversify your portfolio and minimize risk, consider buying a jumbo CD.

Here are the top nationally available rates for jumbo CDs. Compare these offers, then calculate how much interest you could earn when your CD comes due.

Best Jumbo CD Rates – 60 month CDs
Institution APY Minimum deposit
Northwest Federal Credit Union 3.10% $100,000
Interior Federal Credit Union 2.78% $100,000
Michigan State University Federal Credit Union 2.76% $100,000
Signature Federal Credit Union 2.70% $100,000
Marine Federal Credit Union 2.63% $100,000

Jumbo CDs are typically available for savers with at least $100,000 to deposit. In the past, these accounts provided a higher rate of return than traditional CDs. But with interest rates still at the low end of the spectrum, good deals on jumbo CDs can be hard to find.

The best 5-year jumbo CDs pay more than two times the national average of 1.27 percent APY, according to Bankrate’s most recent national survey of banks and thrifts.

Today’s top nationally available jumbo CDs pay at least 3.10 percent APY. This may be a good place to invest if you’re saving money for a big ticket item or a large down payment on a house. Having a jumbo CD can also be helpful if you need collateral for a loan.

Finding the best jumbo CD rates

If you only go as far as your local bank to find CDs, you could be leaving money on the table. That’s why shopping around and comparing rates is key.

Online-only banks typically offer competitive CD yields because they have no branches to maintain. Credit unions often have favorable rates for savers as well. If you focus on the institutions that are federally insured, you’ll be able to reclaim your funds (up to $250,000) even if your bank shuts its doors.

Generally, longer CD terms offer higher yields. If you’re looking for the best jumbo CD rates, start by checking out accounts that mature within five years.

Top account details

  • Northwest Federal Credit Union is headquartered in Herndon, Virginia. One of the easiest ways to join is to become a member of a community partner organization. The NCUA-insured institution earned four out of five stars in Bankrate’s review of its financial health.
  • Interior Federal Credit Union was founded in 1935. It’s based in Washington D.C. Membership is open to anyone who joins the New Mexico Wildlife Federation.
  • Michigan State University Federal Credit Union was founded as the Michigan State College Employees Credit Union in 1937. Membership is open to employees of select groups and students, alumni, faculty and staff of Michigan State University and Oakland University. Anyone outside of the state can join through the Michigan United Conservation Clubs. The credit union earned five out of five stars in Bankrate’s review of its financial health.
  • Signature Federal Credit Union was founded in 1970. Membership is open to anyone who joins the American Consumer Council. The credit union, which is based in Alexandria, Virginia, earned four out of five stars in Bankrate’s latest review of its financial health.
  • Marine Federal Credit Union is based in Jacksonville, North Carolina. Membership is open to anyone who joins the Marine Corps Scholarship Foundation Affiliate Program for a $25 fee.

Consider your tax bite

Having a jumbo CD could leave you with a giant tax bill. The interest you earn will be taxed as ordinary income.

Calculate your potential tax bite and decide whether you should put part of your money elsewhere. Capital gains are taxed at a lower rate, so investing some of your savings in stocks and other securities could reduce what you owe Uncle Sam.