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CD Rates in New Jersey for September 2025

Updated September 15, 2025

Written by
Marcos Cabello, J.D.
Edited by
Marc Wojno, MBA

If you have cash you don't need for a while, it may be worth opening a top-yielding certificate of deposit (CD). Interest rates for CDs have skyrocketed over the last couple of years, giving consumers a wide array of high-yield options with minimal risk. Here's how to find the best CDs in New Jersey and lock in today's competitive rates.

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How to find the best CD rates in New Jersey

There are three main components you should consider when choosing a CD: the term length, the yield and the penalty for early withdrawal. 

Choosing the CD term

A CD term is the length of time your money is slated to stay within the account. Terms typically range anywhere from 6 months to 5 years, though some banks offer terms as short as three months to as long as 10 years or longer. To find the right term for you, consider realistically how long you can leave your funds untouched, as most CDs charge early withdrawal penalties for accessing money before maturity.

Pay attention to minimum deposit requirements as well. Online banks often offer CDs with no minimum or low minimums of $500, while traditional banks typically require $1,000-$2,500. For jumbo CDs, expect minimums around $100,000. 

Choosing the yield

Getting the best yield is typically the most important factor when choosing a CD. Today's top CD yields exceed 4% APY, though not all institutions offer such competitive rates. Online banks consistently outperform traditional brick-and-mortar banks like Wells Fargo and Chase Bank.

However, the highest yield isn't always the best choice if you might need early access. If you're uncertain about your timeline, consider Bankrate's best no-penalty CDs, which allow withdrawals without fees.

Understanding the early withdrawal penalties

Banks typically impose penalties if you withdraw funds before maturity. For a 12-month CD, penalties generally range from two to six months of interest, with some banks adding flat fees as well.

You’ll want to balance your need for liquidity against potential yields. If you're likely to withdraw early, consider a shorter term, a CD with milder penalties or high-yield savings alternatives that maintain access to your funds.

Short-term vs. long-term CDs

Whether to invest in a short-term or long-term CD is dependent on your financial situation.

New Jersey residents who don't need to touch their money for a couple of years may benefit from locking in today's high rates with longer-term CDs. For maximum flexibility while maintaining higher yields, consider creating a CD ladder with staggered maturity dates.

Short-term CDs offer more flexibility for those who may need funds sooner or are saving for near-term goals. They're ideal for specific financial goals with a defined timeframe, such as saving for a wedding, vacation or home renovation planned within the year.

How to compare CD rates in New Jersey

When choosing a CD, New Jersey residents should consider CDs available both nationwide and those available only in their region. The most popular banks in New Jersey by number of branches include Wells Fargo, TD Bank and Bank of America.  

For the highest yields, explore nationwide online-only banks, which offer their products to customers regardless of location.

If you prefer consolidating your finances with one institution, check whether your current bank offers relationship rates for existing customers with multiple accounts.

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