Edward Jones is a brokerage firm you’ve likely heard of over the years as it passes a century in age.

Founded in 1922, Edward Jones now has over 8 million clients with a combined $1.5 trillion in assets managed by over 19,000 financial advisors as of Q3 of last year.

Edward Jones also offers consumers a number of competitive brokered CD (certificate of deposit) accounts with competitive yields on terms ranging from 3 months to 10 years.

Because Edward Jones is a brokerage firm and not an actual bank they don’t issue their own CDs. Instead, they ‘broker’ or re-sell a range of deposits issued by banking institutions that they’ve partnered with which provide FDIC coverage. We go into more detail on brokered CDs further below.

Edward Jones CD Rates + Account Details

All Edward Jones CDs require a minimum deposit of $1,000 to open. Please note that 7 and 10 year CDs are not available at this time.

CD Rates

The rates above were surveyed on August 29, 2023. These yields and terms may not be available in all states.

To give these offers some context, the current national average for a 12 month CD and a 60 month CD sit at 1.76% APY and 1.41% APY, respectively, according to recent FDIC data.

How Much Can You Make with an Edward Jones CD?

The amount of money you can earn with an Edward Jones CD is going to depend on your deposit size, the term you select and its APY (annual percentage yield). Take a look at the table below to get an idea of how much you’d earn with a handful of Edward Jones CDs assuming a deposit size of $100,000.

How do Edward Jones CD Rates Compare?

If you’re wondering how Edward Jones CD rates compare with other brokered CD rates, take a look at the table below. We’ve pitted Edward Jones against other well known brokerages and their best CD rates.

Edward Jones Brokered CDs Account Details

A few crucial distinctions must be made between standard CDs and Edward Jones’s brokered CDs.

The most important of these being that you do not open or manage brokered CDs yourself. On top of that, the actual CD isn’t technically a product of Edward Jones at all. Instead Edward Jones purchases CDs in bulk from a number of different financial institutions and then resells them (or brokers them) to their clients.

You can open new CDs with Edward Jones or you can purchase secondary CDs.

If you open a new CD with Edward Jones you will not have to pay any commission fees. Edward Jones will receive a concession from the bank that takes your deposit, but this is already factored into the price.

If purchasing a CD on the secondary market, you will have to pay Edward Jones a commission just like you would purchasing stock. You can see what commission they take in the trade confirmation.

A benefit of Edward Jones brokered CDs is that they don’t have early withdrawal penalties. If you need to cash out of your deposit early you can simply sell it to another investor on the secondary market.

Unfortunately, this also means there is an inherent downside to these products in that their price fluctuates on the open market and can feasibly be sold for less than the purchase price.

For example, if you open a 5 year deposit and need the funds after year 2, during which time interest rates have risen considerably, you may have a tough time selling your deposit for your full purchase price.

Conversely, if you purchase a 5 year deposit and rates drop significantly (which they have) then you may find investors willing to offer a premium on your CD on the secondary market.

Also note, interest earned on Edward Jones CDs does not compound. This is true of most brokered CDs as they require an immediate distribution of interest. The terms of your personal CD will tell you how often the interest on your account is credited and where.

Brokered CDs with Edward Jones do not automatically renew.

How to Purchase a CD Through Edward Jones

To open a brokered CD with Edward Jones, you’ll first need to set up a brokerage account with them if you don’t have one already. Edward Jones is a full service brokerage account with no minimum deposit requirements for account opening.

Opening up an Edward Jones brokerage account can be done online, however purchasing an Edward Jones brokered CD can not. For this you will have to go to a local office and fill out the paperwork. They will provide you with a prospectus to look over and discuss your options with you before you make any decisions.

As soon as your initial deposit clears, you are free to buy a new CD or a secondary CD through your Edward Jones broker.

Additional Deposit Accounts Offered Through Edward Jones

Edward Jones is a member of SIPC and deposit products with this firm are insured up to $250,000 per depositor.

In addition to its extensive suite of investment products and brokered CDs, this firm also offers money market funds and a cash management account.

Edward Jones Money Market Funds

Money market funds offered at Edward Jones, and most other brokerage firms, are not money market accounts. Money market funds are simply liquid mutual funds with good cash access. Money market accounts are federally insured deposit accounts with a guaranteed return of principal plus accrued interest.

Because money market funds are mutual funds with cash access, they do not guarantee that you will receive a full return on your principal.

On top of that, the cash in a money market fund may be used to invest in CDs or other short-term investments, but deposits into these funds are not FDIC insured.

Edward Jones money market funds are available as investment shares and retirement shares – both of these taxable options. You will be charged a $3 monthly maintenance fee for retirement share class money market funds with balances below $1,500 and a $3 monthly maintenance fee for investment share class money market funds with balances below $2,500. Talk with your advisor about cash and cash equivalents available for you to invest in with your money market fund—this will vary. 

There is no minimum investment required to open a money market fund and the current 7-day yield per share is 0.01%.

On the positive side, these money market funds make withdrawing and using money simple because they allow you to write unlimited checks and use a Visa debit card. Transactions and withdrawals are unlimited, unlike money market accounts.

Edward Jones Flex Funds Account (Cash Management Account)

An Edward Jones Flex Funds account is a cash management account that earns interest on your uninvested balance.

There is no annual fee and you can write up to 120 checks per year free of charge. This account is insured up to $1.5 million leveraging multiple banks’ $250,000 FDIC deposit insurance using the “Bank Sweep Program.”

With a Flex Funds account, you can set short-term savings goals for yourself and easily track your progress toward them. Your financial advisor can go through the details about how to strategize saving and investing with this account, but you have a lot of options and flexibility overall with a product like this.

Account Set-Up and Management

Edward Jones allows you to make quick and easy deposits into your account(s) and transfer funds electronically. You can enroll in online bill pay and link a direct deposit to one or more of your savings or investment accounts. Mobile check deposit is another feature included on the Edward Jones native apps for both Google Play and App Store, where they score an impressive 4.8 out of 5 on both platforms.

Final Thoughts

Edward Jones is a more than satisfactory brokerage firm and its brokered certificates of deposit are offering some competitive yields on short-term and mid-range CDs.

Edward Jones CD FAQs

Still have questions about the brokered CDs offered by Edward Jones? See what other consumers are asking around the web along with our responses below.

Why are Edward Jones CD Rates so High?

Edward Jones is able to offer higher CD rates than most banks and credit unions because they purchase CDs in bulk from a number of different institutions. This allows them to secure higher CD rates than they could as an individual purchasing one CD from one institution.

Are Edward Jones CDs FDIC Insured?

Yes. Like most brokerages, Edward Jones only brokers CDs to their clients that are offered from FDIC-insured financial institutions. All CDs purchased and held through an Edward Jones brokerage account are federally insured up to the applicable limits.

Are There Early Withdrawal Penalties for Edward Jones CDs?

No. As with most brokered CDs, if you need access to your funds early you can simply sell your CD on the secondary market. An Edward Jones broker can assist you in this process.

Does Edward Jones Offer Jumbo CDs?

Edward Jones does not offer higher CD rates for larger deposit amounts (aka Jumbo CDs). The CD rates you see listed above apply to deposits of all sizes.

Does Edward Jones Offer Money Market Accounts?

No. Edward Jones does not offer any FDIC-insured money market accounts. They do offer a Money Market Fund, but it’s possible to lose money investing in the fund despite the fund’s goal of preserving the value of your investment. You can learn more here.