The highest CD rate available in New Jersey right now is 4.50% Annual Percentage Yield (APY) on a 13-month term ($5,000 minimum deposit) from Clearpath Federal Credit Union (Insured by NCUA). CD Valet compares live rates from FDIC insured banks and NCUA insured credit unions serving New Jersey, verified as often as daily.
Top CD Rates in New Jersey
The table below lists the highest APYs currently offered by banks and credit unions that are available in New Jersey, sorted highest to lowest. Credit union products appear as share certificates, which work the same way as CDs and carry federal insurance.
| Financial Institution | Term | APY* | Minimum Deposit | Insured By |
| Clearpath Federal Credit Union | 13-month | 4.50% | $5,000 | NCUA |
| Habib American Bank | 12-month | 4.50% | $1,500 | Member FDIC |
| Habib American Bank | 6-month | 4.50% | $1,500 | Member FDIC |
| ValorFI Heroes | 6-month | 4.50% | $500 | NCUA |
| Habib American Bank | 3-month | 4.50% | $1,500 | Member FDIC |
| Popular Bank | 25-month | 4.45% | $100,000 | Member FDIC |
Banks and Credit Unions Offering CDs in New Jersey
Around 97 FDIC-insured banks and NCUA-insured credit unions are based in New Jersey and offer CD accounts, according to CD Valet’s database. CD Valet tracks published CD and share certificate rates from those that currently offer them.
Credit unions do not issue CDs. They issue share certificates, which function identically: a fixed deposit held for a fixed term at a fixed rate. Share certificates are insured by the NCUA up to $250,000 per member, per institution, per ownership category, which is the same coverage the FDIC provides on bank CDs. Most credit unions require membership, usually based on where you live, where you work, or a small one-time contribution to an affiliated organization.
Rates from online financial institutions can often be higher. If you do not need in-person service, compare nationally available CDs alongside the New Jersey options above.
How to Choose The Right CD Term
The right CD term depends on when you will need the money, not just which term pays the most.
Beyond the term itself, four factors can help you determine which CD is right for you. APY determines what you earn, and a difference of half a percentage point on a large balance is meaningful over five years. Minimum deposit rules out some offers entirely. Early withdrawal penalties are typically quoted as a number of days of interest, commonly 90 days on terms under a year and 180 days on longer terms, so a penalty can erase more than you have earned if you withdraw early in the term. Compounding frequency has a smaller effect but is already reflected in the APY, which is why comparing APY rather than interest rate is the correct comparison.
If you are not sure which term to pick, a CD ladder spreads your deposit across several terms so that part of it matures every year.
Best CD Rates By State Map, Updated Daily
Use CD Valet’s Best CD Rates By State Map to compare statewide APYs at a glance. Rates shown are real-time offers, updated and verified as often as daily.
Annual Percentage Yields for certificates of deposit come from the latest rate surveys. Rates are based on publicly available data. Additional restrictions and requirements may apply. The APY assumes interest remains on deposit until maturity. Early withdrawal penalties may be imposed if funds are withdrawn before maturity. Fees and penalties may reduce earnings. The APY for variable CD rates may change after the account is opened.
What is a CD?
A certificate of deposit is a deposit account that holds a fixed amount of money for a fixed period, known as the term, in exchange for a fixed interest rate. CDs usually pay more than regular savings accounts because you agree not to withdraw the money early. Bank CDs are FDIC insured and credit union share certificates are NCUA insured, both up to $250,000 per depositor, per institution, per ownership category.
What is CD Valet?
CD Valet is a website that shows you CD rates from federally insured banks and credit unions all over the country, including in New Jersey. Comparing CD rates in New Jersey is easy with CD Valet. Instead of checking each bank and credit union one by one, you can use CD Valet to see rates from many New Jersey financial institutions, compiled all in one place.
- Go to the CD Valet website
- Select New Jersey in the list of states
- Compare CD rates from different banks and credit unions
- Consider the term you’re interested in (e.g. 6-month CDs, 1-year CDs, or more, including 2-year CD rates, 3-year CD rates, and longer-term options like 4-year CD rates or 5-year CD rates)
- Check the minimum deposit amount for the account
- When you’re ready to open the CD, visit the financial institution’s website to begin the account opening process
Remember, CD rates can change often. It’s a smart move to compare the best rates available nationwide from federally insured banks and credit unions, in order to make sure you are getting the best rate matched to your savings goals.
FAQs about CDs in New Jersey
Are CD rates in New Jersey better than in other states?
The highest CD rate available in New Jersey right now is 4.50% APY on a 13-month term ($5,000 minimum deposit) from Clearpath Federal Credit Union (Insured by NCUA). CD rates can vary by region and financial institution. New Jersey often offers competitive rates, but checking offers available in other states or nationwide on CD Valet can help you find more favorable options.
Can I withdraw money early from a CD?
Yes, but early withdrawals usually come with a penalty or fees. To avoid these charges, choose a CD term that aligns with your savings goals.
How often do CD rates in New Jersey change?
CD rates fluctuate regularly. Checking CD Valet often will help you stay ahead of any changes. CD Valet updates and verifies rates as often as daily.
Do I need a large amount of money to open a CD?
Minimum deposit amounts vary by bank and credit union. Some CDs require a minimum deposit as low as $500, while others may require a higher amount. CD Valet lets you filter options based on your preferred deposit amount.
