Chase is the largest bank in the United States, with over $4 trillion in assets. Its growth over the past several decades can be attributed to multiple factors. In addition to various promotions that attract new customers to their checking and savings accounts as well as credit cards, Chase also offers some of the highest certificate of deposit (CD) rates among large brick-and-mortar banks.

If you’re thinking about putting money to work in a CD, here are the latest Chase CD rates and some of their features.

Chase CD Rates

With interest rates falling, you might be thinking about locking in your savings. Chase Bank offers a range of CD terms with competitive rates.

Below is a breakdown of the current Chase CD rates, allowing you to compare terms and find the best fit for your goals.

Earn Bonus Cash: Earn a $300 cash bonus and up to a 4.30% APY when opening a checking and savings account.

Please note that Chase periodically adjusts its rates in response to market conditions, so it’s important to check the current rates before opening a new account.

Also Read: Are CDs Worth It?

Relationship Rates

Chase Bank CD Features

• Flexible terms: Chase offers a wide range of CD terms, ranging from one month to 120 months. This helps provide you with options, depending on whether you’re looking for short-term or long-term savings options.
• Higher rates for Chase customers: If you also have a Chase checking account, you’ll earn a higher APY.
• FDIC Insured: The deposits you make are insured by the FDIC up to $250,000 per depositor, per account ownership category.
• Automatic renewal: Unless you withdraw your money at maturity, your CD will automatically renew for the same term length.
• Early withdrawal penalties: If you withdraw funds before the CD matures, you’ll pay an early withdrawal penalty. The amount depends on the term length. For more information on early withdrawal penalties, please see below.

Pros and Cons of Chase Bank CDs

Pros

• Wide Range of Terms: Chase has a large selection of CD terms to choose from. You can select a term ranging from one month to ten years. This makes setting up a CD ladder simple.
• Relationship Rates: If you’re an existing Chase customer, you will receive a higher relationship APY.
• FDIC Insured: Your deposit is insured by the FDIC, up to $250,000.

Cons

• Lower Standard Rates: If you don’t already have a relationship with Chase, the standard APY of CDs is lower than that of most other banks.
• Higher Minimum Deposit: The minimum deposit for all Chase CDs is $1,000, which may be higher than some individuals would prefer to invest.
• Early Withdrawal Penalties: If you withdraw your funds before they mature in the CD, you will be charged an early withdrawal penalty.

Chase CD Early Withdrawal Penalties

Before opening a Chase Bank CD, it’s important to understand the early withdrawal penalties if you were to withdraw your funds before the CD matures. Below is a table to explain the penalty based on your CD term.

How Do Chase Bank CD Rates Stack Up?

Would you like to compare the current Chase CD rates with those of other available options? Here are a few alternatives to consider. Additionally, be sure to explore other Chase products, such as the Chase Total Checking Account or the Chase Freedom Unlimited credit card.

How to Open a Chase Bank CD

Opening a Chase CD is a pretty simple process. It can be done online, in a branch location, or through the Chase mobile app. Here are the steps you’ll need to take.

1. Choose Your Term and Rate: Start by reviewing the available CD terms and interest rates. Determine how long you want to lock in your money and select a rate that aligns with your goals.
2. Gather Your Information: You’ll need basic personal details, such as your name, address, Social Security number, and a valid government-issued ID (e.g., driver’s license or passport).
3. Decide How Much to Deposit: You’ll need to decide how much you want to deposit into your new CD. Chase has a minimum initial deposit of $1,000.
4. Open the Account: You’ll need to complete the application online or in person. If you’re a Chase Private Client or have a qualifying checking account, make sure that your status is linked so you can receive the relationship rate.