Chase CD rates change weekly, and the best rate for you depends on how long you can lock your money away
Chase Bank publishes new CD rates every week, but the specific rate you see depends on the CD term you choose — typically ranging from three months to five years — and whether you open it in a branch or online. Longer terms generally pay more than shorter ones, but Chase's online rates are usually higher than branch rates for the same term. The "best" rate is not a single number; it is the rate that matches how long you are willing to leave your money untouched.
CD rates at all banks, including Chase, move with the Federal Reserve's interest rate decisions. When the Fed raises rates, bank CD rates rise. When the Fed cuts rates, CD rates fall. This means the rate you see today will not be the rate available next month or next year. If you are comparing Chase to other banks, check rates on the same day from multiple institutions, because the differences can be meaningful over a one- or five-year period.
Key Takeaways
- Chase publishes CD rates weekly, and rates vary by term length — three-month CDs pay less than five-year CDs in most market conditions.
- Online CDs at Chase typically pay more than the same term in a branch, so check both before deciding where to open your account.
- CD rates move with Federal Reserve decisions, so a rate that is competitive today may not be in six months.
- You cannot withdraw money from a CD before maturity without paying an early withdrawal penalty, which can erase months of interest.
How to find Chase's current CD rates
Visit Chase.com and look for the "Rates & APY" page, or call your local branch directly. The website shows rates for both online CDs and branch CDs side by side. Online rates are updated weekly, usually on Tuesday or Wednesday. If you are comparing multiple banks, pull rates from each on the same day to see which one is actually paying more.
Chase also offers a CD rate calculator on their website that shows you what your money will grow to over the term you choose. This is useful for comparing a one-year CD at 4.50% against a five-year CD at 5.00%, because the difference compounds over time. The calculator does not lock in a rate — it is just a planning tool.
The difference between online and branch CDs at Chase
Chase's online CDs almost always pay more than the same term offered in a branch. This is because online banking has lower overhead costs, and banks pass some of that savings to customers in the form of higher rates. The gap can be 0.25% to 0.50% or more, depending on the term and market conditions. Over a five-year CD, that difference adds up to hundreds of dollars in extra interest.
The trade-off is convenience. A branch CD is opened in person, and you can ask questions face-to-face. An online CD is opened through the website or app, which takes 10 to 15 minutes and requires a Chase checking or savings account. If you do not already have a Chase account, you will need to open one first, which adds a step but is free.
Why CD term length matters more than you might think
A three-month CD at Chase might pay 4.00%, while a five-year CD pays 5.25%. The longer term locks in a higher rate, but it also locks your money away. If you need the cash before five years are up, you will pay an early withdrawal penalty — typically three to six months of interest, depending on the term. That penalty can wipe out all the extra interest you earned by choosing the longer term.
Choose a CD term based on when you actually need the money, not just on which rate looks highest. If you might need cash in two years, a five-year CD is a trap, even if it pays 1% more. A two-year CD is the safer choice. If you are certain you will not touch the money for five years, the longer term makes sense because the penalty matters less.
How Chase CD rates stack up against other banks
Chase is a large national bank, and large banks typically do not pay the highest CD rates available. Online-only banks and credit unions often pay 0.50% to 1.00% more on the same term. For example, if Chase's five-year CD is at 5.00%, a credit union or online bank might offer 5.75% or higher. Over five years, that difference is substantial.
Chase's advantage is convenience and familiarity. If you already bank there, opening a CD takes minutes. You can manage it through the same app you use for checking. You have a branch to visit if something goes wrong. These benefits have a cost — lower rates. Whether that trade-off is worth it depends on how much you value simplicity versus maximizing interest earned.
What happens when your Chase CD matures
When your CD reaches its maturity date, Chase will automatically renew it into a new CD at the current rate unless you tell them not to. This renewal happens within a few days of maturity. If rates have fallen, your new CD will pay less. If rates have risen, it will pay more. You have a grace period — usually 10 days — to withdraw the money or move it to a different product without penalty.
Set a reminder on your calendar for a few days before your CD matures so you can decide what to do. If you want to move the money to a higher-paying CD elsewhere, or if you want to close the account, contact Chase before the renewal happens. If you do nothing, the renewal is automatic, and you will be locked in again for the same term at whatever the new rate is.
Early withdrawal penalties and when they apply
Chase charges an early withdrawal penalty if you take money out of a CD before the maturity date. The penalty is typically three to six months of interest for terms under two years, and six months of interest for longer terms. On a $10,000 CD earning 5% annually, six months of interest is $250. If you withdraw early, you lose that $250 plus the interest you would have earned for the rest of the term.
The penalty is deducted from your CD balance, not charged separately. If your CD has not earned enough interest to cover the penalty, the penalty comes out of your principal. This is rare but possible on very short terms or if rates have dropped significantly since you opened the CD. Always ask Chase what the specific penalty is for the term you are considering before you open the account.
Frequently Asked Questions
Can I add money to a Chase CD after I open it?
No. CDs are fixed-amount products. You deposit a lump sum when you open it, and that amount stays the same until maturity. If you want to add more money, you have to open a separate CD. Some banks offer "add-on CDs" that allow deposits during a window after opening, but Chase does not offer this feature on most of their CDs.
What is the minimum deposit for a Chase CD?
Chase requires a minimum deposit of $1,000 for most CDs, though this can vary by term and whether you open it online or in a branch. Check the specific CD you are interested in, because some terms may have different minimums. If you have less than $1,000, you will need to wait or choose a different bank.
Is my money safe in a Chase CD?
Yes. Chase is a large bank, and CD deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per bank. As long as your CD balance is under $250,000, your money is fully protected even if Chase fails. If you have multiple CDs at Chase, the total across all of them counts toward the $250,000 limit.
Do I have to pay taxes on CD interest?
Yes. CD interest is taxable income in the year it is earned. Chase will send you a Form 1099-INT at the end of the year showing how much interest your CD earned. You report this on your tax return. This is true even if you did not withdraw the money — the interest counts as income when it is credited to your account, not when you withdraw it.
Can I move my Chase CD to another bank before it matures?
You can withdraw the money and move it, but you will pay the early withdrawal penalty. There is no way to transfer a CD directly to another bank without closing it first. If you want to move to a higher-paying CD elsewhere, calculate whether the penalty is worth it. On a short-term CD, the penalty might be small enough that switching makes sense. On a longer term, it usually does not.