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Chase Bank CD rates today are low compared to the best CD rates. Business Insider's personal finance team found that for most terms, you'll find stronger options at other banks.
The only people who may find it worthwhile to open a Chase CD are those with a Chase checking account because you may qualify for relationship rates which have a better APY.
The bank's 3-month term offers Chase's best CD rate today. It's on par with the best 3-month CD rates available nationwide, but you must qualify for a relationship rate and make a $100,000 minimum opening deposit to get the highest APY. Other banks with the top 3-month CD rates have more flexible opening requirements, though.
Current Chase Bank CD Rates
Current Chase Bank CD rates are comparable with other brick-and-mortar banks, but you can find online banks that pay significantly higher rates.
You'll earn a low rate on all terms and balance tiers, unless you also have a Chase chase checking account — then you'll earn a relationship rate, which can be significantly higher.
Chase Featured CD Rates
Chase offers CD promotions for a few select terms. The relationship rates for these terms are competitive and higher than average CD rates and are the best Chase Bank CD rates for 2024.
Chase CD rates are the same in many areas, but they can also vary depending on where you live. We used the zip code from New York City, New York, for the following Chase Featured CD rates:
| CD Term | Standard Rate (All balances) | Relationship Rate (under $100,000) | Relationship Rate ($100,000 or more) |
2-month | 0.01% | 3.25% | 3.25% |
| 3-month | 0.01% | 4.25% | 4.75% |
| 9-month | 0.01% | 3.50% | 4.00% |
Other Chase Bank CD Rates
Chase also has CD terms ranging from one month to 12 years. The relationship rates for these Chase CD terms are less competitive than its Featured CDs. Here are the rest of the Chase CD rates, based on the zip code from New York, New York:
| CD Term | Standard Rate (All balances) | Relationship Rate (under $100,000) | Relationship Rate ($100,000 or more) |
1-month | 0.01% | 0.02% | 0.02% |
| 3-month | 0.01% | 2.00% | 2.00% |
| 12-month | 0.01% | 2.00% | 2.00% |
| 15-month | 0.01% | 2.50% | 2.50% |
| 18-month | 0.01% | 2.50% | 2.50% |
| 21-month | 0.01% | 2.50% | 2.50% |
| 24-month | 0.01% | 2.50% | 2.50% |
| 30-month | 0.01% | 2.50% | 2.50% |
| 36-month | 0.01% | 2.50% | 2.50% |
| 36-month | 0.01% | 2.50% | 2.50% |
| 42-month | 0.01% | 2.50% | 2.50% |
| 48-month | 0.01% | 2.50% | 2.50% |
| 60-month | 0.01% | 2.50% | 2.50% |
| 84-month | 0.01% | 2.50% | 2.50% |
| 120-month | 0.01% | 2.50% | 2.50% |
How to Open a Chase Bank CD
You can open a Chase Bank CD online if you have a Chase checking account. Otherwise, you can schedule a meeting with a banker online or drop by a nearby branch to open a CD. Generally, it's recommended to open a CD based on a specific goal that has a clear purpose and timeline.
You'll need at least $1,000 to open a CD with Chase, which is a fairly standard opening deposit requirement; you can find banks that require less, but some ask for more. If you're planning to deposit more than $1 million in a CD, you'll also have to schedule a meeting with a banker to open an account.
The person opening the CD must be at least 18 years old. Opening a Chase Bank CD requires basic documentation, like a U.S. ID, Social Security number, and proof of address. If you are not a U.S. citizen, you can verify your identity with a Matricula Consular or foreign passport.
Should You Open a Chase Bank CD?
Overall, Chase Bank CDs are most appealing to existing Chase customers who have a checking account with the bank. They'll be able to qualify for relationship rates for a variety of term options, and maximize savings with Chase CDs since Chase Savings℠ only pays 0.01% APY.
However, if you're open to banking online, the best online banks offer terms over five years and pay higher rates on most terms than Chase Bank.
Chase CD Pros and Cons
Chase CD Pros
- More CD variety than most banks
- Access to over 4,700 branches throughout the continental U.S.
- Compounds interest daily
- FDIC-insured
Chase CD Cons
- Chase standard CD rates are low
- Best Chase CD rates require a Chase checking account and a high minimum opening deposit
- No specialty CDs, like a no-penalty CD or step-up CD
- Other banks have lower CD minimum opening requirements
Chase CD Alternatives
Chase CDs vs. Wells Fargo CDs
Wells Fargo's CD terms lengths are limited, so if you want a term under three months or over two years, Chase is the clear choice.
Similar to Chase, Wells Fargo has a Wells Fargo Standard Fixed Rate CD and Wells Fargo Special Fixed Rate CD. The Wells Fargo Special Fixed Rate CD offers the best Wells Fargo CD rates, ranging from 3.75% to 4.76% (varies by location) APY. The Wells Fargo Standard Fixed Rate CD has less competitive rates, ranging from 1.50% to 2.51% APY.
Since Wells Fargo also has standard rates and relationship rates, the highest APY option for you will depend on whether you have a checking account with either Chase or Wells Fargo. If you only qualify for standard rates though, Wells Fargo will probably have more appealing options than Chase.
Chase CDs vs. Bank of America CDs
Chase CDs and Bank of America CDs have similar rates and term length options.
At Bank of America, you can get a Bank of America Fixed Term CD which pays 0.03% to 4.00% APY, or a Bank of America Featured CD which offers 0.05% to 4.60% (vary by location) APY.
Bank of America CD rates are more straightforward because they currently pay the same rates regardless of your account balance, and do not have relationship rates. That may sway your decision if you're not an existing customer at either bank.
If you're strictly searching for the best APY for a certain CD term, your top choice will depend on the term you want. Bank of America and Chase both have a few CD terms with competitive APYs, but ultimately, most terms have low rates. It could benefit you to check online banks for specific CD terms to rest assured you have the best rate.
Why You Should Trust Us: How We Reviewed Chase CDs
Business Insider's personal finance team uses a bank account methodology to review Chase CDs. We rate all types of bank accounts on a scale from zero to five stars. For CDs in particular, we look at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, and the ethics of the company. We routinely monitor Chase CD rates to keep up-to-date with CD rate changes.
You can learn more about how we cover and rate products by reading about our editorial standards.
Chase Bank CD FAQs
Chase CDs pay 0.01% to 4.75% (vary by location) APY. Current Chase CD interest rates are locked once you've opened a CD. Keep in mind CD interest rates can fluctuate over time, though.
You can schedule an appointment with a banker online or visit a nearby branch at any time to open a Chase CD. You'll need basic documentation to verify your identity and where you live.
You need to deposit a minimum balance of $1,000 into a Chase CD.
While you can technically withdraw money from a Chase CD before it reaches maturity, keep in mind you will have to pay a penalty for an early withdrawal. Chase CD early withdrawal penalties range from 90 days to 365 days of interest on the amount withdrawn, depending on the term.
Chase standard CD rates are pretty standard compared to other traditional banks but low overall when stacked up to the best online banks. Select Chase CD rates — in particular, the 2-month, 3-month, and 9-month terms — pay competitive relationship rates right now. To qualify for a relationship rate, you'll need to link a Chase personal checking account.
Chase lets you open a CD ladder if you are a Chase Private Client Checking customer. The bank offers two types of CD ladders that both have four terms. There's a 4-month CD ladder with 1-month, 2-month, 3-month, and 4-month terms, and 12-month CD ladder with 3-month, 6-month, 9-month, and 12-month terms. The rates for the Chase CD laddering strategy may be different than individual CDs.
