For individuals with $100,000 or more saved who are looking for a nearly risk-free investment, jumbo CDs offer guaranteed returns for large bank balances. Jumbo CDs work similarly to regular certificates of deposit, earning a competitive annual percentage yield (APY) when you agree to lock up your money for a fixed term.
Opening a jumbo CD isn’t for everyone, but it could be an option if you’re a high earner or investor looking for conservative, steady yields to pair with your retirement and investment portfolio.