Chase Bank CD Rates

Are Chase CD rates any good? You might find better options elsewhere. Find out more.

Chase offers a convenient banking experience thanks to their extensive catalog of products. But, if you're after high CD interest rates, Chase might not offer the best options.

They offer CDs with a decent APY and terms that go up to 120 months. Read on to learn more about Chase CDs and its features.

What Chase CD's are available?

Currently, Chase only offers regular CDs, but they give different rates for existing customers when they meet certain criteria. Here are the types of CD rates that Chase offers:

• Relationship CD Rates: Available for customers with a linked Chase personal checking account
  
• Standard CD Rates: Available for new customers of Chase

Do note that Chase Relationship CD Rates are typically higher than Standard Rates. With that, here's an overview of the different features of Chase CDs:

Chase Relationship CD Rates

Chase's Relationship CD Rates are for existing customers who also have a Chase Personal Checking Account and offer better rates than their standard rates.

They also have various terms ranging from 1 month to 120 months which have similar rates even with different balance tiers.

But, if you want to earn more, you can open a Chase Relationship CD with a featured term.

Ultimately, the wide range of CD terms allows you to be more flexible about how long you want to keep a CD at Chase.

Chase Standard CD Rates

If you are a new Chase customer and do not have a Personal Checking Account with them, you can only get Standard Rates on your CD for now. Unfortunately, the rates can be quite low–even lower than the national average^[1].

You can pick the same CD lengths with Standard Rates, which gives you some flexibility. But for higher earnings, you might want to check out CDs from different banks instead of Chase.

How Chase CDs Compare

High-Yield CD Rates - Up to 4.31% APY

• No fees
• $1 minimum deposit
• FDIC insured

Term	CD Rates
3 Month	4.15% APY
4 Month	4.31% APY
6 Month	3.75% APY
9 Month	3.65% APY
12 Month	3.55% APY

Learn More on Raisin's Secure Website

Read Review

Member NCUA

12-Month High-Yield CD - 4.10% APY

• $1 minimum deposit
• No fees
• 24/7 online access to funds
• NCUA insured

Get Deal

12-Month No-Penalty CD - 3.90% APY

• $1 minimum deposit
• 24/7 online access
• Federally insured by NCUA

Get Deal

Member FDIC

Certificate of Deposit

• 3.50% APY for 6-month term
• 4.20% APY for 12-month term
• 3.80% APY for 18-month term
• 3.80% APY for 24-month term
• 3.60% APY for 36-month term
• 3.75% APY for 5-year term

Learn More

Read Review

15-Month High-Yield CD - 4.15% APY

• No fees
• $1 minimum deposit
• 24/7 online access to funds
• Federally insured by NCUA

Get Deal

12-Month High-Yield CD - 4.00% APY

• $1 minimum deposit
• No fees
• 24/7 online access to funds
• Federally insured by NCUA

Get Deal

Read Review

5-Month No Penalty CD - 4.00% APY

• $1 minimum deposit
• No fees
• Deposits federally insured up to at least $250,000 by NCUA

Get Deal

12-Month No-Penalty CD - 3.75% APY

• $1 minimum deposit
• No fees
• 24/7 online access to funds
• FDIC insured

Get Deal

Fees & Penalties

To maximize your earnings, you want to hold off withdrawing your CD until maturity. But if you do withdraw early, you can expect penalties.

For Chase's CDs, here are the early withdrawal penalties by CD term^[2].

• Terms less than 6 months: 90 days interest on the amount withdrawn or the total interest earned, whichever is lower.

• Terms 6 months to less than 24 months: 180 days interest on the amount withdrawn or the total interest earned, whichever is lower.

• Terms 24 months or more: 365 days interest on the amount withdrawn or the total interest earned, whichever is lower.

If you withdraw your CD within 7 days of opening the CD, you will be charged at least 7 days' worth of interest on the amount withdrawn.

Chase CDs Pros & Cons

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Check out Chase CD's pros and cons to better decide whether you should open a CD at Chase.

Pros

• No monthly service fees
  
• No account opening fees
  
• Wide range of CD terms available
  
• Daily compounding interest
  
• FDIC insurance for up to $250,000

Cons

• APY is relatively low
  
• $1,000 minimum for all CDs
  
• Must have linked checking account for higher APY
  
• $100,000 minimum required to get higher APY
  
• IRA CDs no longer open to new applicants
  
• Early withdrawal penalties

Can You Lose Money with a Chase CD?

CDs are generally one of the safest investments so you can't really lose money with it. Additionally, Chase is an FDIC-member bank which means deposits are insured up to $250,000.

The only way you can really lose money is when you are subjected to penalties for taking your money out prematurely. Early withdrawal fees can eat into your earnings.

How to Open a CD with Chase

You can open a CD at Chase online if you are already an existing customer. Here's how you can open a CD online:

1. Log in to your Chase account online.
   
2. Go to Open an Account and select CDs.
   
3. Select your preferred term and amount to deposit.
   
4. Fund your CD.

If you are not banking with Chase yet, you can open a Chase Personal Checking account online first, or visit a Chase branch near you to open a CD.

How to Withdraw Upon Maturity

Most banks will send you a notice several days before your CD matures. Chase lets you check the maturity date of your CD by logging into your account on their website or on the Chase Mobile app^[5]. Prior to maturity, it's best to decide what to do with your CD already.

Here are your options:

• Close the CD and withdraw all funds
  
• Add deposit to the CD or withdraw a part of the CD
  
• Change the CD term
  
• Automatic renewal

Chase gives you a 10-day grace period after the maturity date for CD terms of 14 days or longer.^[6] Make sure you contact Chase about your plans during this period. Otherwise, the CD will automatically renew and you will need to pay penalties to close the CD.

You can reach out to their customer service, schedule a meeting, or visit a nearby Chase branch.

Chase CD Ladders

If you have a linked Chase Private Client Checking^SM account, a dedicated banker can help you set up a CD Ladder^[7]. This is a strategy where you split your money into multiple CDs to have them mature at regular intervals to give you more flexibility with your money.

At Chase, you will have a 12-month CD Ladder with four CDs opened at the same time with the same amount. The CD terms will be 3, 6, 9, and 12 months. Each time a CD matures every three months, it will be automatically renewed and will be reinvested into a new 12-month CD.

The rates offered on CD Ladders can vary depending on the account balance tier. But the rates may not be as attractive. You might be better off building your own ladder at banks offering CDs with higher APY.

Chase Offers

Frequently Asked Questions

What are Chase CD rates right now?
Chase CDs may not have the best rates in the market. If you are already banking with them you might be able to get some okay Relationship Rates.

What is Chase CD term?
Chase offers a wide range of CD terms starting from 1-month all the way up to 10 years. However, the rates on their CDs are quite low.

When can I withdraw from Chase CD?
Generally, you cannot withdraw from your Chase CD until it matures. Otherwise, you need to pay early withdrawal penalties. Check your CD's maturity date by logging into your account on the Chase website or Chase Mobile App.

Is Chase CD good?
Chase CDs are generally lower than most of the top CD offerings on the market–lower even than the national average.

Bottom Line

Chase CDs may not have the best rates in the market even with their Relationship CD Rates. But, Chase is a good choice if you prefer having the convenience and accessibility.

To score higher APY on a CD, try looking at online banks and credit unions instead.

References