Chase CD rates change daily and vary by term length
Chase publishes its current CD rates on its website, but the rate you see today will not be the rate next week. Certificate of Deposit rates at Chase move with the broader interest rate environment, which means they shift whenever the Federal Reserve adjusts its policy rate or when market conditions change. The rate for a 3-month CD is different from the rate for a 5-year CD, and both change independently.
To find Chase's current rates, go to chase.com and search for "CD rates" or navigate to the savings and CDs section. You will see a table showing rates for different term lengths—typically ranging from 3 months to 5 years. The rate shown is the Annual Percentage Yield, or APY, which includes the effect of compounding. Write down the specific rate and term you are interested in, because that is the only rate that matters for your money.
Chase also offers different CD products: regular CDs, step-up CDs (where the rate increases at set intervals), and CDs tied to market indexes. Each has its own rate structure. Regular CDs are the most straightforward: you lock in a fixed rate for a set period, and that rate does not change.
Key Takeaways
- Chase CD rates are posted on chase.com and change daily based on market conditions, so the rate you see today may not be available tomorrow.
- Different CD terms (3 months, 1 year, 5 years) have different rates, and you need to compare the specific term you want, not just "the best rate."
- The APY shown includes compounding and is the number to use when comparing CDs across banks.
- Early withdrawal penalties at Chase vary by term—longer CDs typically have larger penalties—so confirm the penalty before you commit your money.
- To compare whether Chase's rate is competitive, check rates at other banks like Ally, Marcus, or your local credit union for the same term.
How to find the exact rate for the term you want
Chase's website shows rates in a table format, organized by term length. Find the row that matches the length of time you want to lock up your money. If you want to deposit money for 1 year, look at the 1-year CD rate. If you want 18 months, Chase may not offer that exact term—in which case you would choose between 1 year and 2 years.
The rate listed is the APY. This is not the same as the interest rate; the APY accounts for how often interest is compounded (usually daily at Chase). When you compare CDs across different banks, always compare APY to APY, not interest rate to APY.
Chase also shows the minimum deposit required for each CD, which is typically $1,000 or $2,500 depending on the product. If you do not have the minimum, you cannot open that CD at Chase. Some banks have lower minimums, so this is worth checking if you are comparing options.
Early withdrawal penalties and what they cost you
If you withdraw money from a Chase CD before the term ends, Chase charges a penalty. The penalty is a certain number of months of interest, and the amount depends on the term of the CD. For example, a 1-year CD might have a penalty of 3 months of interest, while a 5-year CD might have a penalty of 12 months of interest. Chase publishes these penalties on its website alongside the rates.
The penalty is real money that comes out of your deposit. If you open a 1-year CD at 4.50% APY with $10,000, and you withdraw after 6 months, you lose 3 months of interest (roughly $112.50). You get your principal back, but the penalty reduces what you actually receive.
Before you open a CD, confirm you will not need the money until the term ends. If there is any chance you might need it sooner, a savings account or money market account—which let you withdraw without penalty—may be a better choice, even if the rate is slightly lower.
Comparing Chase rates to other banks
Chase is a large national bank, and large banks typically offer lower CD rates than smaller banks or online-only banks. This is because they have more overhead and do not need to compete as aggressively for deposits. To know whether Chase's rate is competitive, you need to check what other banks are offering for the same term.
Online banks like Ally, Marcus, and American Express often post higher CD rates than Chase because they have lower operating costs. Credit unions sometimes offer competitive rates as well, especially if you are a member. Spend 10 minutes checking 3 to 5 other banks for the same term you are considering at Chase. A difference of 0.50% APY on a $10,000 CD for 1 year means $50 in additional interest—money worth finding.
Keep in mind that a higher rate is not the only factor. Chase offers the convenience of a local branch, and if you already bank there, moving money in and out may be simpler. But if you are comparing purely on rate, do the comparison before you commit.
What happens when your CD matures at Chase
When your CD term ends, Chase will notify you that the CD has matured. You then have a window—usually 7 to 10 days—to decide what to do with the money. You can open a new CD at the current rate, move the money to a savings account, or withdraw it entirely. If you do nothing, Chase will automatically renew the CD into a new term at whatever the current rate is at that time.
Auto-renewal is convenient if you want to keep the money locked up, but it means you are accepting whatever rate Chase is offering on that day. Rates may have fallen since you opened the original CD, so you could end up in a lower-rate CD without realizing it. Set a calendar reminder for a few days before maturity so you can decide actively rather than letting auto-renewal happen by default.
Step-up CDs and other Chase CD products
In addition to regular fixed-rate CDs, Chase offers step-up CDs. With a step-up CD, the rate increases at set intervals during the term. For example, a 5-year step-up CD might start at 3.50% APY for the first year, then increase to 3.75% for the second year, and so on. The advantage is that you get higher rates as time goes on without having to open a new CD. The disadvantage is that the starting rate is usually lower than a regular CD of the same term.
Step-up CDs make sense if you think rates will stay high or rise further, and you want to benefit from that without the hassle of rolling over CDs. If you think rates will fall, a regular CD locks in the current rate for the full term, which is better.
Chase also offers CDs linked to market indexes, though these are less common and more complex. The rate is tied to the performance of an index like the S&P 500. These carry more risk and are not appropriate for money you need to be certain about.
How to open a CD at Chase
You can open a CD at Chase online, by phone, or in a branch. Online is usually fastest—you log into your Chase account, navigate to the CD section, select the term and amount, and complete the transaction in a few minutes. The money is transferred from your Chase checking or savings account to the new CD.
If you are not a Chase customer, you can still open a CD, but you will need to provide identification and set up an account. This takes longer and may require a visit to a branch or a phone call.
Once the CD is open, you cannot change the rate or term. You are locked in for the duration. The only way out is to withdraw early and pay the penalty, or wait until maturity.
Frequently Asked Questions
Can I move money into a Chase CD from another bank?
Yes. You can transfer money from another bank into a new Chase CD. You will need to provide your Chase account details to the other bank, or you can withdraw the money and deposit it into Chase. The CD rate is locked in on the day you open it, so timing matters if rates are moving quickly.
What if Chase's rate drops after I open my CD?
Your rate does not change. You are locked in for the full term at the rate you agreed to when you opened the CD. This is the advantage of a CD—certainty. If rates rise, you are stuck with the lower rate, but if rates fall, you benefit from having locked in the higher one.
Is my money safe in a Chase CD?
Yes. Chase is a member of the Federal Deposit Insurance Corporation (FDIC), and CDs are covered up to $250,000 per depositor per bank. If you have more than $250,000, the excess is not covered, so you would need to split it across multiple banks or account types.
How often do Chase CD rates change?
Chase updates its rates daily, sometimes multiple times per day. Rates move based on what the Federal Reserve does and what other banks are offering. If you are watching rates closely, check back daily, but understand that small daily changes are normal and do not necessarily mean you should rush to open a CD.
Can I add money to a CD after I open it?
No. CDs are fixed-amount products. Once you open a CD with a specific amount, you cannot add more money to that CD. If you want to invest additional money, you would need to open a separate CD or use a savings account.