New Jerseyans are always looking for the most effective ways to make their money work harder for them. CDs offer a safe and reliable method to save money while earning a higher interest rate compared to traditional savings accounts

In this regard, the CDs are making them an attractive option with a variety of banks and credit unions offering competitive rates. Finding the best CD rates in New Jersey requires a bit of research but is well worth the effort for those looking to maximize their savings potential.

Whether you’re saving for a short-term goal or planning for the future, understanding and accessing the best CD rates can help pave the way to financial security.

Overall Best CD rates in New Jersey

No.Bank NameAPYTerm LengthAddress
1Cross River Bank5.26%12-month2115 Linwood Ave Fort Lee, NJ 07024
2Goldman Sachs Bank USA5.25%12-month30 Hudson St Jersey City, NJ 07302
3NewBank5.20%12-month189 Homans Ave Closter, NJ 07624
4Citadel Federal Credit Union5.15%12-month7730 Maple Ave Pennsauken, NJ 08109
5New Millennium Bank5.12%12-month20 Jersey Ave # 50 New Brunswick, NJ 08901
6New Millennium Bank5.12%12-month57 Livingston Ave New Brunswick, NJ 08901
7Andrews Federal Credit Union5.05%12-month25 Wrightstown Cookstown Rd Wrightstown, NJ 08562
8Navy Federal Credit Union5.05%12-month18 Broadway Browns Mills, NJ 08015
9Habib American Bank5.00%12-month1585 Oak Tree Rd Iselin, NJ 08830
10Parlin DuPont Employees Federal Credit Union4.86%6-monthOnline
11HSBC Bank USA, National Association4.80%12-month289 Rt 18 East Brunswick, NJ 08816
12PenFed Credit Union4.65%12-month1 Munro Ave Cape May, NJ 08204
13Aspire Federal Credit Union4.65%12-month67 Walnut Ave Clark, NJ 07066
14McGraw Hill Federal Credit Union4.65%12-month120 Windsor Center Dr East Windsor, NJ 08520
15Valley National Bank4.50%12-month2818 Rt 27 North Brunswick, NJ 08902
16Bay Atlantic Federal Credit Union4.45%6-month101 West Elmer Road, Vineland, NJ 08360
17Santander Bank, N.A.4.40%12-month1970 Rt 70 E Cherry Hill, NJ 08003
18Garden Savings Federal Credit Union4.30%12-month15 Scotland Rd South Orange, NJ 07079
19Baker Federal Credit Union4.17%12-month501 Baltimore St Phillipsburg, NJ 08865
20Pinnacle Federal Credit Union4.17%12-month135 Raritan Center Pkwy Edison, NJ 08837
21Credit Union of New Jersey4.05%12-month1301 Parkway Avenue, Ewing, NJ 08628
22Financial Resources Federal Credit Union4.04%6-month520 US Highway 22 East, Bridgewater, NJ 08807
23Raritan Bay Federal Credit Union4.01%6-month491 Raritan Street, Sayreville, NJ 08872
24Magyar Bank4.00%18-month400 Somerset Street, New Brunswick, NJ 08901
25Liberty Savings Federal Credit Union4.00%6-month666 Newark Avenue, Jersey City, NJ 07306
26Community Financial Services Federal Credit Union4.00%6-month149 St. George Avenue, Roselle, NJ 07203
27HSBC Bank3.93%3-monthOnline
28Jersey Shore Federal Credit Union3.93%6-month3002 English Creek Ave, Egg Harbor Township, NJ 08234
29Princeton Federal Credit Union3.76%6-month104 Carnegie Center, Suite 103, Princeton, NJ 08540
30First Bank3.69%3-month2465 Kuser Rd, Suite 101, Hamilton, NJ 08690
31New Jersey Credit Union League3.68%18-month299 Ward Street, Hightstown, NJ 08520
32Visions Federal Credit Union3.68%6-monthOnline
33Provident Bank3.50%3-month239 Washington St, Jersey City, NJ 07302
34Columbia Bank3.45%24-month19-01 Route 208 North, Fair Lawn, NJ 07410
35Investors Bank3.45%12-month101 JFK Parkway, Short Hills, NJ 07078
36McGraw-Hill Federal Credit Union3.45%24-monthOnline
37Aspire Federal Credit Union3.45%6-month67 Walnut Avenue, Suite 401, Clark, NJ 07066
38Atlantic Federal Credit Union3.45%6-month37 Market Street, Kenilworth, NJ 07033
39Hamilton Horizons Federal Credit Union3.45%6-month3535 Quakerbridge Road, Suite 600, Hamilton, NJ 08619
40Fort Dix Federal Credit Union3.44%6-monthOnline
41Amboy Bank3.25%12-month3590 U.S. Highway 9, Old Bridge, NJ 08857
42Deepwater Industries Federal Credit Union3.07%6-month565 N. Broadway, Deepwater, NJ 08023
43Lakeland Bank3.01%24-month250 Oak Ridge Rd, Oak Ridge, NJ 07438
44OceanFirst Bank3.00%6-month975 Hooper Ave, Toms River, NJ 08753
45Peapack-Gladstone Bank3.00%18-month500 Hills Dr, Suite 300, Bedminster, NJ 07921
46Manasquan Bank3.00%12-month2221 Landmark Place, Manasquan, NJ 08736
47Garden State Federal Credit Union3.00%24-month144 W Route 38, Moorestown, NJ 08057
48XCEL Federal Credit Union3.00%6-month1460 Broad Street, Bloomfield, NJ 07003
49Central Jersey Federal Credit Union3.00%6-month380 Berry Street, Woodbridge, NJ 07095
50Elizabeth NJ Firemen’s Federal Credit Union3.00%6-month411 Irvington Avenue, Elizabeth, NJ 07208
51Spencer Savings Bank2.90%12-month611 River Drive, Elmwood Park, NJ 07407
52Kearny Bank2.75%3-month120 Passaic Ave, Fairfield, NJ 07004
53Citibank, N.A.2.71%12-month101 John F Kennedy Pkwy Short Hills, NJ 07078
54First Atlantic Federal Credit Union2.43%24-month468 Industrial Way West, Eatontown, NJ 07724
55Fulton Bank of New Jersey2.40%3-month533 Fellowship Road, Suite 250, Mount Laurel, NJ 08054
56Unity Bank2.25%3-month64 Old Highway 22, Clinton, NJ 08809
57United Teletech Financial Federal Credit Union2.09%6-month205 Hance Avenue, Tinton Falls, NJ 07724
581st Constitution Bank2.00%36-month2650 Route 130, P.O. Box 634, Cranbury, NJ 08512
59Northfield Bank1.45%24-month581 Main Street, Suite 810, Woodbridge, NJ 07095
60Affinity Federal Credit Union1.00%48-month73 Mountainview Blvd, Basking Ridge, NJ 07920

Current CD Rates of New Jersey

The current CD rates in New Jersey rates greatly influence the individual financial planning

and savings strategies. It offers a relatively low-risk investment avenue that can provide higher returns than standard savings accounts, especially in a fluctuating interest rate environment.

Best 6-Month CD Rates

For those seeking short-term investment opportunities, the best 6-month CD rates offer an ideal blend of higher interest earnings than savings accounts without the long-term commitment.

  1. First Internet Bank of Indiana

Minimum Amount: $1000.00

APY / Rate: 4.75% APY


  • Only $1,000 minimum balance to open
  • Interest is compounded daily and credited monthly
  • Rates are locked for the term chosen and cannot go down


  • In order to open a CD, you’ll need to deposit a minimum amount of money, which may vary depending on the term and rate of the CD.
  • The term of the CD is the amount of time that you agree to keep your money in the CD. At Greenwood Credit Union, CD terms range from 3 months to 60 months.
  • The interest rate on the CD is the rate at which your money will earn interest. Generally, longer-term CDs will offer higher rates than shorter-term CDs. Greenwood Credit Union offers both fixed-rate and variable-rate CDs.
  • If you need to withdraw money from your CD before the maturity date, you will typically be charged an early withdrawal penalty. The specific penalty amount will depend on the term and type of CD you have.
  • You can open a CD as an individual or joint account holder. You may also be able to open a CD as an IRA account.
  1. Popular Direct

Minimum Amount: $10000.00

APY / Rate: 4.50% APY


  • Highly competitive rates for 6-month CDs
  • 24/7 access to the bank account
  • No hidden fees or charges
  • Customer support for all sorts of queries and concerns
  • FDIC insured bank up to maximum


  • APY can be earned assuming the interest and the principal remains on deposit until maturity.
  • Interest is compounded monthly and added to the account at the end of the month.
  • APY can be earned assuming the interest and the principal remains on deposit until maturity.
  • Interest is compounded monthly and added to the account at the end of the month.
  • Early withdrawal fetches a penalty and there is a grace period after maturity to add additional funds to the CD
  • Early withdrawal fetches a penalty and there is a grace period after maturity to add additional funds to the CD

Best 1 Year CD Rates

When it comes to finding a balance between a decent yield and maintaining access to your funds within a reasonable timeframe, the best 1-year CD rates stand out as a compelling choice for investors.

  1. Popular Direct

Minimum Amount: $10000.00

APY / Rate: 4.80% APY


  • Highly competitive rates for 6-month CDs
  • 24/7 access to the bank account
  • No hidden fees or charges
  • Customer support for all sorts of queries and concerns
  • FDIC insured bank up to maximum


  • APY can be earned assuming the interest and the principal remains on deposit until maturity.
  • Interest is compounded monthly and added to the account at the end of the month.
  • Early withdrawal fetches a penalty and there is a 
  1. Alliant Credit Union

Minimum Amount: $1000

APY Rate: 4.60% APY


  • Funds are insured up to $250,000 by NCUA
  • Low minimum deposit of only $1,000; no maximum
  • Great dividend rates


  • Dividends compounded every month and at maturity.
  • Incur an early withdrawal penalty

Best 3 Year CD Rates

For those willing to lock away their savings for a bit longer in exchange for higher interest, the best 3-year CD rates present an opportunity to benefit from more attractive returns.

  1. CFG Community Bank

Minimum Amount: $500.00

APY / Rate: 4.60% APY


  • The high yield rate of interest
  • A decent minimum amount required
  • FDIC insured banking option
  • Strong customer support system


  • To open a CD an investor can approach the bank online or in-branch.
  • The minimum deposit allowed in a CD is $500 and the maximum limit is set at $250,000.
  • The interest on the CD is compounded monthly.
  • Premature withdrawal from the CD is subject to a penalty.
  1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.50% APY


  • Excellent for earning a competitive interest rate on a savings account or CD.
  • Without monthly services.
  • Free domestic incoming wire transfers on savings account


  • APYs are subject to change at any time without notice
  • The penalty will be applied for early withdrawals on CDs
  • At maturity, your CD will automatically renew and earn the base interest rate

Best 5 Year CD Rates

5-year CD rates cater to the long-term investors who prioritizes maximum interest over time, providing a secure investment avenue with some of the highest fixed interest rates available in the market.

  1.  Popular Direct

Minimum Amount: $10000.00

APY / Rate: 4.55% APY


  • Online-only CD options are available
  • Highly competitive CD rates in a 1-year term
  • Early withdrawal penalties are decent
  • FDIC insured bank with investment covered to the max
  • Terms ranging from 3 months to 5 years


  • Interest on CDs is compounded monthly and added to the account at the month’s end.
  • Early withdrawal incurs a penalty amounting to:
    1- 90 days interest for a 3-month term
    2- 180 days interest for a 6-18 month term
    3- 365 days interest for 24-60 month term
  1. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%


  • Competitive CD rates
  • Decent minimum balance requirement
  • Easy CD withdrawal methods
  • 3-months to 60-month term available


  • A CD can be opened via mobile, online,, or telephone.
  • The interest on the CD is compounded monthly and added to the account on a fixed date every month.
  • There is a penalty for early withdrawal which depends on the term and amount of the CD.
  • Any changes to the CD regarding the amount or term can be made within the grace period of penalty days post maturity.

New Jersey Economic Statistics

New Jersey, with its diverse economic landscape and a population of approximately 9.2 million, stands as a robust financial hub in the United States.

The state boasts an average household income of around $85,000, which is significantly higher than the national average, and an average home value of approximately $342,000, reflecting the state’s high standard of living and the vibrant real estate market.

Population9.2 millionReflects the state’s large and diverse population.
Average Household Income$85,000Significantly higher than the national average, indicating a relatively affluent population.
Average Home Value$342,000Highlights the vibrant real estate market and high standard of living in New Jersey.

These economic statistics are crucial for investors, as they highlight the financial health and potential for wealth growth within the state.

For those considering investment in CD rates in New Jersey, these figures suggest a relatively affluent population with the financial capability to invest in higher-yield savings options.

How to Get Best CD Rates in New Jersey

To secure the best CD rates in New Jersey, it’s essential to conduct thorough research and comparison across various financial institutions.

  • Start by reviewing CD rates from a broad range of banks and credit unions, including both large national banks and local community banks, to ensure you’re getting the most competitive rates available.
  • Consider factors such as the term length, minimum deposit requirements, and early withdrawal penalties, as these can all affect the overall return on your investment.
  • Additionally, keep an eye on economic trends and rate forecasts, as these can influence CD rates. Leveraging online financial comparison tools can also streamline the process, making it easier to compare rates at a glance.

CD Rates Methodology

Our methodology for identifying the best CD rates in New Jersey involved a comprehensive review of CD rates from 87 banks, encompassing a mix of large national banks, regional banks, and local credit unions.

To ensure the list was both relevant and useful for investors, we considered factors such as interest rates, term lengths, minimum deposit requirements, and the financial stability of the institutions.

After a thorough evaluation, 60 banks made the list, distinguished by their competitive rates, favorable terms, and strong customer service reputations. This approach ensures that our recommendations cater to a wide range of financial goals and preferences.


By reviewing rates from a variety of institutions and considering the broader economic context, investors can maximize their earnings and achieve their savings objectives. As the financial landscape evolves, staying informed and adaptable will continue to be key in navigating the world of CD investments successfully.


Who has the best CD rates in New Jersey?

Cross River Bank in New Jersey currently offers one of the best CD rates for a 12-month term at 5.26%. 

What Credit Union has the Best CD rates in New Jersey?

Citadel Federal Credit Union, while primarily based outside of New Jersey, offers its members highly competitive CD rates, with a 12-month CD rate at 5.15%.