2.5-year jumbo CD
2.5-year jumbo CD
A 2.5-year jumbo CD is a large savings instrument, usually with a minimum value of $100,000, that pays a fixed rate of interest and remains in effect for a period of 30 months. Funds cannot be withdrawn earlier than the 30-month expiration without penalty. Jumbo CDs are considered slightly higher risk than CDs of lower denominations, because FDIC insurance only covers the first $100,000 of the deposit.
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