CD Rates and Banking Options as of May 29, 2026

As of May 29, 2026, savers looking to maximize their returns are finding that the most competitive annual percentage yields (APY) for jumbo certificates of deposit (CDs) are currently offered by smaller credit unions and banks rather than the nation's largest financial institutions [2]. While major banks like Chase and Bank of America provide extensive branch networks and digital tools, their standard savings accounts offer significantly lower interest rates compared to high-yield alternatives [1].

Key takeaways

• The top jumbo CD rate available as of May 29, 2026, is 4.15% APY, offered by Consumers and Veridian credit unions [2].
• Standard savings accounts at major banks like Chase and Bank of America currently pay 0.01% APY [1].
• High-yield savings accounts at online banks are currently offering around 4.00% APY [1].
• Jumbo CDs often require a minimum deposit of $100,000, though some are available with a $50,000 minimum [2].
• Major banks may offer lower interest rates on CDs compared to smaller institutions, which currently dominate the top-paying lists [2].

Comparing Major Bank Offerings

For consumers prioritizing convenience, Chase and Bank of America remain the most prominent options due to their vast physical footprints. Chase operates nearly 5,000 branches and approximately 15,000 ATMs, while Bank of America maintains roughly 3,800 branches and a similar number of ATMs [1]. Each bank features distinct fee structures: Chase charges a $15 monthly fee for checking unless specific balance or deposit requirements are met, whereas Bank of America’s Advantage Plus Banking account carries a $12 monthly fee, which can be waived with a $1,500 daily balance or a qualifying direct deposit of $250 or more [1].

Digital banking experiences also vary between the two. Chase’s mobile app was recognized for its overall experience, while Bank of America differentiates its platform with "Erica," an AI-powered virtual assistant capable of flagging recurring charges and analyzing spending habits [1]. Despite these features, both institutions offer identical 0.01% APY on basic savings accounts, a rate that pales in comparison to the 4.00% APY often found at online high-yield savings accounts [1].

The Jumbo CD Landscape

Investors considering jumbo CDs should be aware that a higher deposit requirement does not always guarantee a superior return. While jumbo CDs—typically requiring $50,000 to $100,000—are often marketed as premium products, standard CDs from other institutions may sometimes offer higher APYs [2]. For instance, while the top jumbo rate is 4.15% APY, some non-jumbo options, such as those from Nuvision Credit Union or Merrick Bank, have provided competitive rates for smaller minimum deposits [2]. Because smaller institutions often lack the overhead of large national banks, they frequently offer more aggressive yields to attract deposits, all while remaining federally insured by the FDIC or NCUA [2].