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First Republic Bank CD Rates: January 2025

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

Fact checked by Michael Rosenston

Ridofranz /Getty Image

Ridofranz /Getty Image

Warning

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.

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 of up to 5,0%. Learn how those rates compared to some of the best CD rates.

First Republic Bank’s Liquid CD required a minimum deposit of $10,000 and had an APY of 0.01%. You only got one term length option for First Republic Bank’s liquid (no-penalty) CDs.

Compare CD Account Rates

Some of First Republic Bank CD rates were actually quite good compared to other options, especially when you considered large brick-and-mortar banks. Where it shined in high rates, however, it lacked in minimum balance requirements. 

You could 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 was most important to you.

First Republic Bank CD Key Features

While First Republic Bank had the potential to offer good returns, the minimum deposit requirement was high. But if you had $10,000 to invest, these were the details about its standard CDs and CD specials.

With First Republic Bank’s liquid CD, you faced an early withdrawal penalty if you don’t time your withdrawals right or take out too much money. 

Pros and Cons of First Republic Bank CDs

Pros

  • Various terms

Cons

  • No longer available

  • Had many non-competitive rates

Pros Explained

  • Various terms: First Republic Bank CDs offered a range of term lengths of up to 6 years.

Cons Explained

  • No longer available: You can no longer get First Republic Bank CDs because the institution was acquired by JPMorgan Chase.
  • Had many non-competitive rates: First Republic CD often offered very low rates of as low as 0.01%.

About First Republic Bank

First Republic Bank was a San Francisco-based regional bank focused on high-net-worth clients.

On May 1, 2023, First Republic Bank was seized by the Federal Deposit Insurance Corporation (FDIC) and acquired by JPMorgan Chase. Part of the reason why it failed was because a large proportion of its deposits exceeded the limit for coverage by the Federal Deposit Insurance Corp. (FDIC).

Depositors have full access to their deposits with Chase, and can still manage their accounts through First Republic’s website.

Alternatives to First Republic Bank CDs

In lieu of a First Republic Bank CD, which you can no longer get, consider your alternatives at other institutions.

  • Other high-interest CDs: Many of First Republic Bank’s CDs were not competitive. Check the best CD rates currently available before making a deposit.
  • High-yield savings account: If you want to protect your funds while also earning interest, you can also consider a high-yield savings account.
  • Checking account: A checking account is another option for storing your cash, especially if you don’t want to be subject to withdrawal limits. Some high-interest checking accounts can provide more returns on your cash than traditional checking accounts.
  • Money market account: Money market accounts are similar to savings accounts, though they may also come with check-writing abilities and a debit card. You can often earn a good rate on your savings, but you might have to deal with monthly fees or minimum balance requirements. 
  • I bonds: I bonds from the U.S. government are an investment option for protecting your savings from inflation. I bonds may or may not offer a higher rate than the best CDs. When you invest, you have to commit to leaving your money in the I bond for at least a year.

Frequently Asked Questions (FAQs)

Are First Republic Bank CDs FDIC-Insured?

First Republic Banks were FDIC-insured. FDIC insurance only covers your deposits up to $250,000 with any one bank. First Republic Bank targeted high-net-worth individuals, so that was an important point to remember.

Are First Republic Bank CDs Worth Investing In?

If you had enough money ($10,000, to be exact) and you preferred working with a bank that wasn’t mainstream yet still offers excellent rates, then yes—First Republic Bank could have been a great option for you.

How Do You Get a CD With First Republic Bank?

Unfortunately, First Republic Bank itself wasn’t too open about how to open one of its CDs. If you were already a customer, you can open an account online within your online banking portal.

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