What is a jumbo CD, and how does it work?
Yahoo Finance·2024-05-04 03:16
Are you saving up for a big purchase in the near future? If so, a jumbo CD could help you earn more interest on your balance. Jumbo CDs are similar to traditional CDs, except you'll need a big minimum deposit — anywhere from $25,000 to $100,000 or more — to open one. Sure, you can leave all your cash in a savings account, where the average annual percentage yield (APY) is just 0.46%. But with the right jumbo CD, your deposit can earn over 5%. See our picks for the best CD accounts available today. How d ...