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First Republic Bank CD Rates: July 2024

First Republic’s high-yield CDs offer attractive rates to boost your savings

By Lindsay VanSomeren

Updated July 02, 2024

Fact checked by

Michael Rosenston

Financial advisor with clients — Ridofranz /Getty Image

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

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 our editorial 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.”