Jumbo CD's are basically very similar to regular CD's but with very high minimums-$100,000 is common-as well as higher CD rates than normal CDs. A penalty is charged for withdrawing funds before maturity date. This investment vehicle is targeted towards the wealthy risk adverse investor. Another reason you might want to take on a Jumbo CD is to diversify your portfolio.

The current average yield on a 6 month Jumbo CD is 4.98%. Eloan.com is offering one of the highest Jumbo CD rates available: 5.41% APY on a 6 month CD. Make sure you shop around to find the Best Jumbo CD Rates.