Lauren Smith, WalletHub Staff Writer
@laurenellesmith
The best CD rate for $100,000 is 4% to 5%, depending on the financial institution. An investment of $100,000 or more typically qualifies you for a jumbo CD, and this type of certificate of deposit compensates consumers with relatively high interest rates in exchange for their large investment. Jumbo CDs generally work well for people with a high income, looking for conservative and steady returns.
Tips for Finding the Best CD Rate for $100,000
- Consider Online Banks: Online banks usually have higher CD rates because they have lower overhead costs. Research reputable online banks and compare their offers with traditional brick-and-mortar financial institutions to find the best deal.
- Check Credit Unions: Explore CD options offered by credit unions. They may have competitive rates for larger deposits and provide additional perks to their members.
- Talk to Your Bank: Some banks offer better rates to customers with existing relationships. Inquire at your current bank to find out if the company has preferential rates for your $100,000 investment.
- Look for Special Promotions: Banks sometimes give new customers higher rates or bonuses for specific CD terms or deposit amounts. Check around to see what limited-time offers are available to you.
- Invest in CDs with Longer Terms: Longer-term CDs typically have higher interest rates. Assess your financial goals and determine if locking in your $100,000 for a longer period aligns with your needs and preferences.
- Consult with a Financial Advisor: If you're unsure about which CD options are best for you, consider seeking advice from a financial advisor. They can help analyze your specific financial situation and recommend the most suitable investment.
You can compare the best CD rates available right now here on WalletHub.
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