What Chase CDs offer right now

Chase offers certificates of deposit through its retail branches and online platform, with rates that change based on the term length you choose and the current interest rate environment. The rates you see today will not be the same next week — they move with the broader market, not on a fixed schedule. To see the exact rate Chase is offering on a specific CD term, you need to visit Chase.com, call a branch, or visit in person, because rates are not published in a way that stays current between updates.

Chase CDs come in term lengths ranging from 3 months to 5 years. Longer terms typically pay higher rates than shorter ones, but that is not may provide — it depends on what the Federal Reserve is doing and what banks expect interest rates to do next. A 5-year CD might pay 4.50%, while a 1-year CD might pay 4.25%, or the gap could be smaller or larger depending on the week you check.

The minimum deposit to open a Chase CD is usually $1,000, though this can vary by product and by branch. Some Chase products have different minimums, so confirm the exact requirement when you are ready to open an account.

Key Takeaways

  • Chase CD rates change frequently and are not published in a central location that stays current, so you must check Chase.com or contact a branch directly to see today's rate.
  • Longer CD terms usually pay higher rates than shorter ones, but the difference varies week to week based on market conditions.
  • You will owe a penalty if you withdraw money before the CD matures, and Chase's penalty amount depends on the term length — typically three to six months of interest.
  • Chase also offers high-yield savings accounts that have no maturity date and no withdrawal penalty, which may be worth comparing to a short-term CD.

How CD rates compare to other Chase savings products

Chase offers a high-yield savings account called Chase Savings, which currently pays a variable rate that changes when the Federal Reserve moves rates. The rate on a Chase Savings account is usually lower than the rate on a CD of the same term length, because you can withdraw money from savings at any time without penalty. A CD locks your money away for a set period, so the bank pays you more for that commitment.

If you need the money within the next year or two, a high-yield savings account may make more sense than a CD, even if the rate is slightly lower. The trade-off is flexibility: you keep your money accessible, but you earn less interest. With a CD, you earn more, but you cannot touch the money without paying a penalty.

Chase also offers money market accounts, which sit between savings and CDs in terms of rate and flexibility. These accounts often have higher minimum balances than savings accounts but lower minimums than CDs.

What happens when your CD matures

When your CD reaches its maturity date, Chase will automatically renew it into a new CD of the same term at whatever rate Chase is offering on that day. You do not have to do anything — the renewal happens on its own. However, you have a grace period (usually 7 to 10 days, depending on the product) to withdraw the money or move it elsewhere without penalty.

If you do nothing during that grace period, your money stays locked in the new CD at the new rate. If rates have fallen since you opened the original CD, the renewal rate will be lower. If rates have risen, the renewal rate will be higher. This is why it is worth setting a calendar reminder a few days before your CD matures — so you can decide whether to renew, move the money to a different product, or withdraw it.

Early withdrawal penalties and how they work

If you need to withdraw money from a Chase CD before it matures, you will pay an early withdrawal penalty. The penalty is calculated as a certain number of months of interest, and the exact amount depends on the term length of your CD. A 3-month CD might have a penalty of one month of interest, while a 5-year CD might have a penalty of six months of interest.

The penalty is deducted from your interest earnings first. If you have earned $200 in interest and the penalty is $150, you receive $50 in interest plus your original deposit. If the penalty is larger than the interest you have earned, the penalty is deducted from your principal — meaning you get back less than you put in.

Before you open a CD, ask Chase what the early withdrawal penalty is for that specific term. This matters because it affects whether a CD is truly the right choice for money you might need sooner than the maturity date.

How to find Chase CD rates and open an account

The most direct way to see current Chase CD rates is to visit Chase.com and navigate to the savings and CDs section. You can see rates for different term lengths and compare them side by side. You can also call a Chase branch or visit in person to ask about rates and open an account on the spot.

If you already have a Chase checking or savings account, you can open a CD online without visiting a branch. If you do not have a Chase account, you will need to open one first, which you can do online or in a branch. The process takes about 10 to 15 minutes online.

When you open a CD, you will choose the term length, the deposit amount, and whether you want the CD to automatically renew. You will also provide the source of the funds — this is a standard anti-money-laundering requirement. Once the CD is open, the funds are transferred from your checking or savings account, and the CD begins earning interest immediately.

Why CD rates matter and what affects them

The interest rate on a CD determines how much money you earn on your deposit over the life of the CD. A $10,000 CD at 4.50% for one year earns $450 in interest (before taxes). The same $10,000 at 3.50% earns $350. That $100 difference might seem small, but it adds up, especially on larger deposits or longer terms.

CD rates are set by individual banks and move in response to what the Federal Reserve does with its benchmark interest rate. When the Fed raises rates, banks raise CD rates. When the Fed cuts rates, banks cut CD rates. Banks also compete with each other — if one bank offers a higher rate, others may follow to keep customers from moving their money.

Chase is a large national bank, so its rates are usually competitive but not always the highest available. Smaller banks and online-only banks sometimes offer higher CD rates than Chase. If you are shopping for the best rate, it is worth checking a few banks before you decide.

Tax considerations for CD interest

The interest you earn on a Chase CD is taxable income. At the end of each year, Chase will send you a Form 1099-INT showing how much interest you earned. You will report this on your tax return, and you will owe federal income tax on it (and state income tax in most states).

This is one reason why the actual return on a CD is lower than the stated rate. If you earn $450 in interest and you are in the 24% federal tax bracket, you will owe about $108 in federal tax, leaving you with about $342 in after-tax interest. The higher your tax bracket, the more of your interest goes to taxes.

If you hold a CD in a tax-advantaged account like an IRA, the interest grows tax-deferred (or tax-free, depending on the account type). This is one reason some people use CDs inside retirement accounts.

Frequently Asked Questions

Can I withdraw money from a Chase CD before it matures?

Yes, but you will pay an early withdrawal penalty. The penalty is a set number of months of interest, depending on the CD term. The penalty is deducted from your interest first, and if it is larger than your interest earnings, it comes out of your principal. Check the penalty amount before you open the CD.

What is the minimum deposit for a Chase CD?

The standard minimum is $1,000, but this can vary by product and by branch. Some Chase CDs may have higher or lower minimums. Confirm the exact minimum when you are ready to open an account.

Do Chase CD rates change after I open the CD?

No. Once you open a CD, your rate is locked in for the entire term. It will not change even if Chase raises or lowers its rates for new CDs. The rate only changes when the CD matures and renews into a new CD.

How often should I check Chase CD rates?

Rates change frequently, sometimes weekly or even daily. If you are deciding whether to open a CD, check rates a few days before you plan to deposit money. If you already have a CD, you only need to check rates again as your maturity date approaches.

Is a Chase CD better than a high-yield savings account?

It depends on your timeline and needs. A CD usually pays more interest but locks your money away. A high-yield savings account pays less but lets you withdraw anytime without penalty. If you will not need the money for at least a year, a CD usually makes sense. If you might need it sooner, a savings account is safer.