Chase CD rates and review
A big-name bank offering a range of terms, but you can find higher rates elsewhere.
Tuck your money away with a Chase CD for terms that range from one month to 10 years. But with APYs only as high as 0.02% for CD relationship rates, you’ll find better rates elsewhere.
|Minimum deposit to open||$1,000|
|Early withdrawal penalty||90 days interest for terms of 1 to 5 months |
180 days interest for terms of 6 to 23 months
365 days interest for terms of 24 + months
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Expert reviewChase CDs are ideal if you’re after flexibility. They come with a variety of terms and the option to withdraw interest at any time.
But you’ll end up sacrificing a lot when it comes to interest rates. You’ll only earn 0.01% on your money with a standard CD no matter the term. And only 0.02% or 0.1% if you open up a relationship CD and keep $1,000 or more locked away.
You’ll find higher CD rates with flexible terms from other institutions.
What benefits can I get from a Chase CD?
Chase offers online customer support, a variety of CD terms and the following benefits:
- Interest compounded daily. You’ll get a better return on your savings daily. But keep in mind that it’s with a low interest rate.
- Automatic renewal. Choose Chase’s automatically renewable CD upfront to keep saving. Or contact customer service about rolling over your single maturity CD during the 10-day grace period after its term ends.
- Chase relationship rates. Earn a slightly higher APY when you link a Chase personal checking account. But the APY is still lower than the national average.
- Interest withdrawals. Withdraw interest earned at any time before the term is up — though you’ll be on the hook for fees.
What should I watch out for?
No account is perfect. Watch out for these potential drawbacks with your Chase CD:
- Low APY. These CDs feature some of the lowest rates in the US. The longest terms earn only from 0.02% to 0.1% APY.
- Apply online only as a Chase customer. Only Chase checking or savings account holders can apply for CDs online.
- Early withdrawal penalty. You’ll pay 1% of the amount withdrawn on CDs of 24 months or less. Longer terms have a 2% withdrawal fee. However, the fee won’t go above the total interest.
If you prefer a higher yield CD, you’ll want to keep looking. As always, compare your options to get the best CD rates available.
Compare with other CDs
How do I open a Chase CD?
There are a few ways you can open this account:
- Online. To apply online, you’ll first need a Chase checking or savings account. Then:
1. From the Certificate of Deposits page, click Open an account.
2. Enter your ZIP code and choose to fill out a new application. Click Next.
3. Log into your Chase online banking, fill out your personal information, fund your opening deposit and confirm the details.
- In person. Talk to a Chase representative at your nearest location. If you’re depositing more than $100,000, you’ll have to visit a branch to open the CD.
- By phone. Chat with a representative at 800-935-9935.
- By mail. Prefer physical mail? Send in your request to open an account to:
JPMorgan Chase Bank, N.A.
PO Box 659754
San Antonio, TX 78265-9754
To open a Chase CD, you’ll need to:
- Be a US citizen.
- Have a US driver’s license or state-issued ID.
- Have a minimum of $1,000 to open your account.
When applying, keep these items on-hand to make the process that much easier:
- Social Security number.
- Valid US driver’s license or ID.
- Personal contact information.
- Account information to fund CD.
Put money into your CD savings account by:
- Cash or check. Hand your cash or check over in person at one of Chase’s many physical locations.
- Outside bank transfer. Transfer funds from another bank account.
- Chase checking or savings accounts. Make a transfer from existing Chase bank accounts online.
How do I cash in a CD?
After your CD’s term has ended, you can receive your money by requesting a check or by transferring the money online, either into a Chase account or another bank through ACH.
If you chose an automatically renewable CD, the entire amount gets rolled into another CD for a new term. You can change the new term or make a deposit during the 10-day grace period after the previous term ends. Single maturity CDs simply stop earning interest.
How can I get in touch with customer service?
Chase has a variety of customer service options:
- Phone. Call customer service 24/7 at 800-935-9935.
- Branch locations. Talk to customer support at one of over 5,000 Chase locations in the US.
- Online. Chase has a comprehensive list of articles on its Contact web page, including FAQs.
- Email. Sign in to Chase online banking and send customer service a secure message.
- Social media. Connect with the bank on all major media, including Twitter, Instagram, Facebook and LinkedIn.
What other savings products does Chase offer?
Chase also offers a few other checking accounts:
- Chase Savings. This very basic savings account earns just 0.01% interest.
- Chase Premier Savings. The interest rate goes up a little for this account, but it still pales in comparison with other savings rates and charges $25 a month unless your balance is above $25,000.