Edward Jones CD rates April 2024
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Updated 4:09 p.m. UTC April 24, 2024
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Edward Jones certificates of deposit (CDs) offer competitive interest rates, with a relatively affordable minimum deposit to get started. However, most of the term lengths skew shorter, limiting your savings strategies, and you may need to sign up with a financial advisor to access these rates.
Account details and annual percentage yields (APYs) are accurate as of April 24, 2024.
Overview of Edward Jones CDs
Edward Jones CDs are available to savers who work with, or are willing to work with, an Edward Jones financial advisor. The term lengths available range from 3 months to 10 years.
While the yields for these brokered CDs are competitive, you’ll face a manageable minimum deposit requirement of $1,000. If you have more savings to tuck away, these CDs are available in increments of $1,000.
As a brokered CD, the fine print attached to Edward Jones CDs is a bit different than most CDs on the market. Edward Jones CDs don’t offer compounding interest options. Instead, the interest earnings must be distributed to another account immediately to avoid compounding.
The interest you earn from the CD can be paid out on a monthly, quarterly, semiannual or annually. CDs with a term of a year or less will payout all interest earnings at maturity.
Edward Jones doesn’t allow early withdrawals, per se, instead you may sell your CD on a secondary market to another broker. The price it will sell for can not be guaranteed and will not necessarily reflect the rate at which you are earning on the CD.
When the CD matures, the funds will be credited to your Edward Jones account. Since the CD is not automatically renewed, you’ll have to make a decision on whether or not to buy another CD or direct the funds somewhere else.
| OVERVIEW | |
|---|---|
Minimum deposit
| $1,000
|
Term lengths
| 3, 6, 9, 12, 18, 24, 30, 36, 48, 60, 120 months
|
Compounding schedule
| Interest does not compound
|
Early withdrawal penalty
| Not available, but you may be able to sell it on a secondary market
|
Grace period for penalty-free withdrawals after maturity
| No automatic renewal
|
How much can you earn with Edward Jones CDs
Here’s how much you can earn with $10,000 in savings with an Edward Jones CD.
| TERM | APY | INTEREST EARNINGS |
|---|---|---|
3-month
| 5.30%
| $129.83
|
6-month
| 5.20%
| $256.72
|
9-month
| 5.15%
| $383.65
|
1-year
| 5.10%
| $509.52
|
18-month
| 5.05%
| $767.48
|
2-year
| 5.00%
| $1,025.14
|
3-year
| 4.85%
| $1,527.96
|
4-year
| 4.65%
| $1,996.00
|
5-year
| 4.55%
| $2,491.79
|
7-year
| N/A
| N/A
|
10-year
| N/A
| N/A
|
How Edward Jones CD rates compare
Edward Jones offers very competitive CD rates, especially when compared to the latest national average rate of 1.81% for a 12-month CD (as of April 15, 2024). But it’s still possible to find higher CD rates on certain term lengths — such as with the Sallie Mae certificates of deposit and Capital One 360 certificates of deposit that offer a 4.95% APY and 4.80% APY (respectively), both on a 12-month CD.
Here’s a comparison of Edward Jones CD rates against other opportunities:
| CD TERM | NATIONAL DEPOSIT CD RATES | EDWARD JONES CD RATES | CAPITAL ONE 360 CD RATES | SALLIE MAE CD RATES |
|---|---|---|---|---|
3-month
| 1.65% APY
| 5.30% APY
| N/A
| N/A
|
6-month
| 1.57% APY
| 5.20% APY
| 4.25% APY
| 4.80% APY
|
12-month
| 1.81% APY
| 5.10% APY
| 4.80% APY
| 4.95% APY
|
24-month
| 1.54% APY
| 5.00% APY
| 4.00% APY
| 4.50% APY
|
36-month
| 1.41% APY
| 4.85% APY
| 4.00% APY
| 4.00% APY
|
48-month
| 1.32% APY
| 4.65% APY
| 3.95% APY
| N/A
|
60-month
| 1.39% APY
| 4.55% APY
| 3.90% APY
| 4.00% APY
|
Edward Jones offers a helpful range of CD terms. As a saver, you can tap into a relatively high APY at most term lengths. After running the numbers with a CD calculator, the wide range of terms might even inspire you to build a CD ladder.
But shopping around at multiple banks and credit unions can help you lock in the top rates for the type of CD you had in mind. Some types of CDs, like 10-year CDs and jumbo CDs, are rare, which could lead to less attractive APYs.
How to open an Edward Jones CD
If you want to get an Edward Jones CD, you’ll need to connect with an Edward Jones financial advisor. It’s not possible to sign up for one of these CDs by yourself on the Edward Jones website.
To find a financial advisor through Edward Jones, you can use the company’s matching tool. Essentially, this involves answering a series of questions to find an advisor that might suit your needs. Another option is to search for an advisor based on your location or a specific advisor’s name.
If you choose to work with a financial advisor in pursuit of these CD rates, make sure they have your best interests at heart. Picking a financial advisor involves weighing multiple factors, like fiduciary responsibility, fees and commissions. Once you are on board with your new financial advisor, they can help you access the Edward Jones CDs.
Alternatives to CDs at Edward Jones
Edward Jones is better known for the investment planning services it offers. Through the financial advisors working with the company, savers can get help building out a long-term plan.
In terms of products offered, you’ll find everything from stocks and bonds to life insurance and annuities.
About Edward Jones
Edward Jones is a financial services firm that ranks in the Fortune 500. It was founded in 1922 and currently offers the largest team of financial advisors in the country. In general, the advisors at Edward Jones can help you plan for retirement and other significant financial goals.
Frequently asked questions (FAQs)
Edward Jones CDs offer rates ranging from 4.55% to 5.30% APY. The rate you will receive varies based on term length.
CD rates, in general, have risen dramatically as the Federal Reserve has raised interest rates to moderate inflation. Financial institutions offer competitive rates to attract deposits.
The yields quoted by Edward Jones CDs are after commissions are paid. Ask for the commission fees from your Edward Jones advisor before opening a CD.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
