Kevin has been writing and creating personal finance and travel content for over six years. He is the founder of the award-winning blog, Family Money Adventure, and host of the Family Money ...

Jumbo CDs are just like traditional CDs, but they generally have a much higher minimum opening deposit. In exchange, they usually give a better interest rate than other CDs at the same bank.

And one risk-free option to consider is a jumbo CD. CD rates have dipped slightly, following the Federal Reserve lowering interest rates three times in 2024. However, the Fed didn't continue its ...