Table of Contents
Table of Contents
First Republic Bank CD Rates
First Republic Bank CD Key Features
Compare CD Account Rates
FAQ
Your Guide to CDs
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- Banking
- Certificate of Deposits (CDs)
First Republic’s high-yield CDs offer attractive rates to boost your savings
ByLindsay VanSomeren
Updated April 30, 2024
Fact checked by
Michael Rosenston
:max_bytes(150000):strip_icc()/MichaelRosenston-dc9ea36078684eb9a17e5bbbed31dbad.jpg "First Republic Bank CD Rates: May 2024 (1)")
Fact checked byMichael Rosenston
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Michael Rosenston is a fact-checker and researcher with expertise in business, finance, and insurance.
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:max_bytes(150000):strip_icc()/Primary-Image-first-republic-bank-cd-rates-april-2023-7481675-aefc4dfa49d64fb1b5b3fa9c59dc80fb.jpg "First Republic Bank CD Rates: May 2024 (2)")
On May 1, 2023, First Republic Bank was seized by the Federal Deposit Insurance Corporation (FDIC) and sold to JPMorgan Chase. Depositors have full access to their deposits with Chase, and can still manage their accounts through First Republic's website.
See Chase Bank CD Rates or the Best CD Rates to open a new CD account.
First Republic Bank CD Rates
Prior to being sold to Chase, First Republic Bank had many customers on the Pacific and Atlantic coasts, but its main focus has been wealthy people; it served 62% of high-net-worth families in these regions.
This was reflected in its CDs, which require an especially high minimum deposit to open, and its CD rates, which at one time were surprisingly high for a bank of its size. However, those days are over. Here are its current rate offerings for each of its CD types.
The APYs listed below are based on the New York region.
First Republic Bank CD Overview
| CD Term | APY | Minimum Balance |
|---|---|---|
| 30 days | 0.02% | $10,000 |
| 60 days | 5.00% | $10,000 |
| 3 months | 2.00% | $10,000 |
| 6 months | 3.00% | $10,000 |
| 9 months | 4.75% | $10,000 |
| 1 year | 2.00% | $10,000 |
| 18 months | 2.50% | $10,000 |
| 2 years | 2.50% | $10,000 |
| 3 years | 2.50% | $10,000 |
| 4 years | 2.50% | $10,000 |
| 5 years | 2.50% | $10,000 |
| 6 years | 2.50% | $10,000 |
First Republic Bank Liquid CD Overview
| CD Term | APY | Minimum Balance |
|---|---|---|
| All terms | 0.01% | $10,000 |
You only get one term length option for First Republic Bank’s liquid (no-penalty) CDs.
See the best CD rates today before choosing the CD that is best for you.
First Republic Bank CD Key Features
While First Republic Bank has the potential to offer good returns, the truth is that the average person won’t be able to open an account due to its high minimum deposit requirement. But if you can afford it, here’s what you need to know about its standard CDs and CD specials.
First Republic Bank CD Key Features
| APY Range | 0.02%–5.00% |
|---|---|
| Minimum Balance | $10,000 |
| Term Range | 30 days–6 years |
| Early Withdrawal Penalty | For CDs under 1 year: 180 days’ interest For CDs over a year: 450 days’ interest |
| Grace Period for Penalty-Free Withdrawals | 10 days |
$10,000 is a lot of money to tie up. If that makes you nervous, First Republic Bank’s liquid CD might be a better option for you. Be mindful of the fine print, however, since you could still end up paying an early withdrawal penalty if you don’t time your withdrawals right or take out too much money.
Consider long-term CDs at First Republic Bank carefully. Its early withdrawal penalty is high compared with its competitors.
First Republic Bank Liquid CD Key Features
| APY Range | 0.01% |
|---|---|
| Minimum Balance | $10,000 |
| Term Range | 8 months |
| Early Withdrawal Penalty | 180 days’ of interest, unless: it’s been at least 7 days since you opened the CD, it’s been at least 7 days since your last withdrawal (if any), and your CD balance stays above $10,000 |
| Grace Period for Penalty-Free Withdrawals | 10 days |
Compare CD Account Rates
First Republic Bank CD rates are actually quite good compared to other options, especially when you consider large brick-and-mortar banks. Where it shines in high rates, however, it lacks in minimum balance requirements.
You can get higher rates with other online banks with no minimum deposit requirement, making them a more accessible option and a better deal to boot, if earning the best rates possible is what’s most important to you.
Are First Republic Bank CDs FDIC-Insured?
Yes, First Republic Banks are FDIC-insured. You can rest assured that, short of societal collapse, you won’t lose your money even if the bank itself fails. Just remember to stick within the FDIC insurance limits.FDIC insurance only covers your deposits up to $250,000 with any one bank. Because First Republic Bank targets high-net-worth individuals, that’s an important point to remember.
Are First Republic Bank CDs Worth Investing In?
If you have enough money ($10,000, to be exact) and you prefer working with a bank that isn’t mainstream yet still offers excellent rates, then yes—First Republic Bank could be a great option for you. However, most people prefer earning the highest rates possible for savings that they can reasonably afford, and if that’s the case, there are better CD options.
How Do You Get a CD With First Republic Bank?
Unfortunately, First Republic Bank itself isn’t too open about how to open one of its CDs. If you’re already a customer, you can open an account online within your online banking portal. But if you’re new to the bank, the company directs you to fill out a contact form and someone will reach out to you. Compared to most other banks, it’s quite a clunky system.
How Do You Get the Best CD Rate With First Republic Bank?
As of this writing, the highest APY First Republic offers is 5.00% for a nine-month CD. However, many banks and credit unions offer rates that are a full percentage point higher and with lower minimum deposit requirements. If you’re shopping for a six-month CD, you’d find more attractive offers elsewhere.
Your Guide to CDs
- What Is a Certificate of Deposit (CD)?
- What Is a Brokered CD?
- What Is a CD Ladder?
- Pros and Cons of CDs
- How to Invest With CDs
- How to Open a CD
- How to Close a CD
- CDs vs. Annuities
- CDs vs. Stocks
- CDs vs. Mutual Funds
- CDs vs. ETFs
- CDs vs. Savings Accounts
- Short-Term vs. Long-Term CDs
- CD Rates News
- Best 1-Year CD Rates
- Best 18-Month CDs
- Best Jumbo CD Rates
- Best 6-Month CD Rates
- Best 3-Month CD Rates
- Best Bank CD Rates
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
Federal Deposit Insurance Corporation. “JPMorgan Chase Bank, National Association, Columbus, Ohio Assumes All the Deposits of First Republic Bank, San Francisco, California.”
First Republic Bank. "Investor Presentation January 2023," Page 4.
First Republic Bank. "Rate Finder."
First Republic Bank. “FDIC Information.”
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Brokered CD Definition, Pros/Cons, Other Types
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