If you’d been thinking about opening up a certificate of deposit (CD), the question, “Are CDs Worth It?” has probably crossed your mind.

While CDs can be a great way to save money, it’s important to do your research. Many CDs offer lower interest rates, where you could actually lose money to inflation.

Enter Edward Jones brokered CDs. Edward Jones CD rates are extremely attractive and can be a great option for many people. You can choose from terms that range from three months up to 10 years with rates currently as high as 3.90% APY.

However, before rushing off to open an account, it’s important to understand that brokered CDs are slightly different from traditional CDs. You must first open a brokerage account with Edward Jones and meet with one of their financial advisors. The CD is then purchased through a specific bank.

Earn Bonus Cash: Earn a $300 cash bonus and up to a 4.00% APY when opening a checking and savings account.

Edward Jones CD Rates

Below is a breakdown of the Edward Jones CD rates today, allowing you to compare terms and find the best fit for your goals.

Please note that Edward Jones periodically adjusts its rates in response to market conditions, so it’s important to check the current rates before opening a new account.

Pros and Cons of Edward Jones CDs

When comparing Edward Jones CDs, it’s important to look at all the pros and cons. Here are a few to consider:

Pros

• High Interest Rates: Edward Jones offers some of the best CD rates, competitive with those from other banks and brokers.
• FIC Insured: FDIC insurance allows you to relax knowing that your money is safe, up to $250,000.0.
• No Early Withdrawal Penalties: Unlike most banks that charge CD early withdrawal penalties, Edward Jones allows you to sell your CD on a secondary market for quick cash.
• Many Term Options Available: You’ll have the chance to choose a term from three months to 10 years.

Cons

• You Must Be an Edward Jones Customer: If you want to open a brokered CD with Edward Jones, you must be a current client. This may not be ideal for those with a relationship with another brokerage.
• No Compounding Interest: The interest you earn on your CD will not compound as it does with other banks.
• You Could Lose Money: If you sell your CD befoe it matures, there is a chance you could lose money.

How Do Edward Jones CD Rates Stack Up?

Would you like to compare the current Edward Jones CD rates with those of other available options? Here are a few alternatives to consider.

How Much Can You Earn From an Edward Jones CD?

How much you can earn from an Edward Jones CD will determine on the following things:

• CD term
• Interest rate
• Deposit amount

Below is how much you would earn if you deposited $10,000 with some of the higher interst rate CDs.

You can use our CD calculator to learn more about how much you could earn from different CD terms.

How to Open an Edward Jones CD

If you decide to open a CD through Edward Jones, you need to follow these steps:

1. To purchase a CD, you must first establish a relationship with an Edward Jones financial advisor. If you need assistance in selecting an advisor, the Edward Jones website offers a helpful quiz to help you find a suitable match.
2. Once you select your financial advisor, they will open either a bank account or a brokerage account on your behalf. When interest is earned on your CDs, it will be deposited into your bank account or a money market fund within your brokerage account.

Boost Your Savings: Open a Valley Bank High-Yield Savings Account through Raisin and earn 3.95% APY plus up to a $1,500 bonus.

Alternatives to Edward Jones CDs

Before deciding to open a CD with Edward Jones, consider exploring alternative options that may be available.

Standard CDs: Standard CDs differ from brokered CDs in that they allow you to earn compound interest and can be purchased directly from banks or credit unions, such as Discover or Synchrony. This means you won’t need to establish a relationship with Edward Jones. However, it’s important to remember that standard CDs do impose an early withdrawal penalty if you need to access your funds before the CD matures.

High-Interest Checking Accounts: If you want to keep access to your money while still earning a decent amount of interest, consider a high-interest checking account. These accounts function like regular checking accounts but offer interest rates that are equal to or even better than some CDs.

High Yield Savings Accounts: You might consider using a high-yield savings account, which typically offers some of the best interest rates. Unlike CDs, high-yield savings accounts allow you to access your money at any time, rather than having to wait until the CD matures.