A Jumbo Certificate of Deposit (CD) is a type of savings account with higher balance requirements than a traditional CD that, in return, offers a higher interest rate. They are typically used by individuals or entities with substantial amounts of capital to invest and desire a secure, low-risk investment option.
Key Features Minimum Balance Requirements Jumbo CDs usually require a minimum deposit of $100,000 or more. This high threshold distinguishes them from regular CDs, which typically require much lower minimum deposits.