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Chase CD rates and review

A big-name bank offering a range of terms, but you can find higher rates elsewhere.

The information about Chase CD has been collected independently by Finder and has not been reviewed or provided by the issuer.

Tuck your money away with a Chase CD for terms that range from one month to 10 years. But with APYs up to 0.05% for CD relationship rates, you’ll find better rates elsewhere.

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0.01%

1-year APY

0.01%

3-year APY

0.01%

5-year APY

Details

Star rate1.6
3-month APY0.01%
6-month APY0.01%
9-month APY0.01%
1-year APY0.01%
15-month APY0.01%
18-month APY0.01%
2-year APY0.01%
30-month APY0.01%
3-year APY0.01%
4-year APY0.01%
5-year APY0.01%
7-year APY0.01%
10-year APY0.01%
Early withdrawal penalty90 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
Minimum deposit to open$1,000
Interest compoundingDaily

Review by


Sarah George is a personal finance writer at Finder who’s spent the last four years wielding her digital pen on all things banking and insurance. Her know-how has been featured in such publications as CBS, CNET and Reviews.com, and she was a panelist in Finder’s 2020 money-saving webinar. Sarah earned an English education degree and is a Certified Educator in Personal Finance.

Expert review

Chase 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 when it comes to interest rates. You’ll earn 0.01% on your money with a standard CD no matter the term. And 0.05% or 0.02% if you open up a relationship CD and keep $10,000 or more locked away.

For instance, if you open a 12-month standard CD earning 0.01% APY, you’ll only earn $0.10 at the end of the term. And if you open one of Chase’s relationship CDs with the same deposit and for the same term, you’ll earn just $0.20.

Compare that to CDs offered by competitor Quontic Bank. If you open a 12-month Quontic Bank CD with $1,000, you’ll earn 4.25% APY, which works out to $17.76 in interest. That’s significantly more than what you’ll get with Chase, and Quontic Bank offers even higher rates on longer CD terms. So while Chase offers various terms, you’ll find higher CD rates from other institutions.

If you’re bent on using Chase, we suggest trying a Chase Savings account, which offers the same APY and unlocked access to your funds over a Chase CD.

How to open a Chase CD

To open a Chase CD, you must have a qualifying Chase checking or savings account. If you do already have one of these accounts with Chase, you can open a CD at a branch, by phone or through the mail. You can also open a Chase CD online by following these steps.

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Certificate of Deposits page, click Open an account.
  3. Enter your ZIP code and choose to fill out a new application. Click Next.
  4. Log into your Chase online banking, fill out your personal information, fund your opening deposit and confirm the details.

Eligibility

To open a Chase CD, you’ll need to meet these requirements:

  • US citizen
  • US driver’s license or state-issued ID
  • Minimum of $1,000

Required information

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

      Funding options

      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.

      3 benefits I can get from a Chase CD

      Chase offers online customer support, a variety of CD terms and FDIC insurance up to $250,000. Its standout benefits include:

      1. Interest compounded daily. You’ll get a better return on your savings daily. Although its interest rates are fixed, keep in mind that this bank offers low interest.
      2. Many term length options. Find a term that suits how long you can lock up your funds, anywhere from one month to 10 years.
      3. Interest withdrawals. Withdraw interest earned at any time before the term is up — though you’ll be on the hook for fees.

      How much interest you can earn

      See how much Chase’s CD accounts earn over the course of one to five years under its standard interest rate. You can earn up to 0.05% APY with its Relationship Rates, if you keep at least $10,000 in the account for six months or more.

      Term lengthAPYAmount in savingsInterest earned at maturity
      1 year0.01%$2,000$0.20
      2 years0.01%$2,000$0.40
      3 years0.01%$2,000$0.60
      5 years0.01%$2,000$1.00

      3 drawbacks to watch out for

      No account is perfect. Watch out for these potential drawbacks with your Chase CD:

      1. Low APYs. These CDs feature some of the lowest rates in the US. The longest terms earn from 0.05% to 0.02% APY, depending on whether you open a CD with relationship rates.
      2. Apply online only as a Chase customer. Only Chase checking or savings account holders can apply for CDs online.
      3. 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’re looking to open a CD with a major bank or financial company, think about Discover’s CD options with APYs up to 3.25%.

      You could also go for a Capital One CD if you’re looking for in-person banking and can locate a Capital One location near you. Capital One also offers similar APYs as Discover.

      If you prefer a higher-yield CD, you’ll want to keep looking by comparing the best CD rates available.

      Compare Chase CD with other CDs

      Check out these CDs based on their interest rates for different term lengths.

      Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
      Bread Savings CDs
      Finder Rating: 3.8 / 5: ★★★★★
      Bread Savings CDs
      N/A
      4.50%
      4.50%
      $1,500
      With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
      Barclays Online CDs
      Finder Rating: 4.5 / 5: ★★★★★
      Barclays Online CDs
      0.10%
      4.25%
      4.30%
      $0
      Get competitive rates on CD term lengths from 3 to 60 months. A reliable and secure way to see your money grow.
      CIT Bank Term CDs
      Finder Rating: 3.5 / 5: ★★★★★
      CIT Bank Term CDs
      4.15%
      0.30%
      0.50%
      $1,000
      Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
      Crescent Bank CD
      Finder Rating: 4.8 / 5: ★★★★★
      Crescent Bank CD
      N/A
      4.60%
      4.50%
      $1,000
      Earn competitive rates up to 4.65% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
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      Compare up to 4 providers

      Chase Bank reviews and complaints

      JP Morgan Chase is accredited by the Better Business Bureau (BBB) and has been in business for nearly 200 years, giving it credibility and stability as one of the biggest US banks. It’s earned an A- rating from the organization for how it handles customer complaints.

      However, a bank as big as Chase will garner negative reviews. Customers rate the bank with 1 of 5 stars out of about 480 reviews, and nearly 1,000 Trustpilot reviewers hand it a 1.4 out of 5 stars.

      Customers complain about wait times with customer service as well as holds on funds or opening an account. Positive reviews focus on friendly and helpful live reps, including complicated situations that were handled with good taste.

      How to cash in my Chase 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 to 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.

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