CD Rates in New Jersey for June 2026
Updated June 4, 2026
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New Jersey is one of the highest cost of living states, and current high inflation rates are adding to the stress for many households. Certificates of deposit (CDs) offer guaranteed yields that can help shield your savings against inflation — if you can afford to leave them locked up for the full term.
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How to compare the best CD rates in New Jersey
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Term
CD terms typically range from three months to five years. Shorter terms exist but usually aren't worth it compared to a high-yield savings account. When selecting a term, ask yourself how long you can comfortably leave your money untouched.
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Yield
When comparing CDs of identical terms, the annual percentage yield (APY) is the most important factor. The higher the yield, the more your money earns.
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Minimum deposit
Verify that the bank's minimum funding requirement matches the amount you intend to invest. While many institutions set minimums between $500 and $1,000, you will find some with significantly higher or lower thresholds. Some give you a higher rate if you deposit above a certain threshold.
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Penalties and fees
Accessing the money before the term ends means an early withdrawal penalty, which is often a portion of your earned interest. Some institutions have harsher penalties than others — the harshest even take all your earned interest.
Have a look at credit union rates
Online banks are often a great starting point for finding top-tier CD rates, as they frequently outperform local New Jersey branches. You should also look into credit unions. Credit unions operate as member-owned nonprofits, which often allows them to provide better yields than traditional banks. Keep in mind that joining a credit union usually requires living or attending school in a certain area or working in a specific field.
You can do an online search for New Jersey credit unions to review their CD options — also called "share certificates" — and eligibility rules. Additionally, the National Credit Union Administration (NCUA) provides a finder tool, which you can also use to verify that the institution is federally insured.
To help you begin your search, here are several of the largest credit unions currently operating in New Jersey that offer CDs:
How to decide whether you want a long- or short-term CD
CDs with terms shorter than six months often provide much lower returns than terms of a year-plus. In the current high-rate environment, locking in a longer term can be smart, if you're certain you won't need the cash before the term expires.
Next steps to take out a CD in New Jersey
Research methodology
Since 1976, Bankrate has been a leading publisher of rates and personal finance articles. We help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.
Part of Bankrate’s editorial team is made up of a group of banking experts. These experts have collectively researched over 100 banks and review current details at least monthly to make sure readers stay up to date on the latest rates and bank products. If you see a star rating next to a product, that has been established by one of our banking experts, and is not influenced by partner status.
Note: Bankrate doesn’t include callable CDs or brokered CDs on this page and compares regular CDs and no-penalty CDs separately.