Chase CD Rates: Pros, Cons, and Current Rates

Chase Bank CD rates today are low compared to the best CD rates. Business Insider's personal finance team found that for most terms, you'll find stronger options at other banks.

The only people who may find it worthwhile to open a Chase CD are those with a Chase checking account because you may qualify for relationship rates which have a better APY.

The bank's 2-month term offers Chase's best CD rate today, but you must qualify for a relationship rate and make a $100,000 minimum opening deposit to get the highest APY. A 2-month term isn't common among banks, so if you're interested in something very short-term it could be a worthwhile option.

Current Chase CD Rates

Current Chase Bank CD rates are comparable with other brick-and-mortar banks, but you can find online banks that pay significantly higher rates.

You'll earn a low rate on all terms and balance tiers, unless you also have a Chase chase checking account — then you'll earn a relationship rate, which can be significantly higher.

Chase Featured CD Rates

Chase offers CD promotions for a few select terms. The relationship rates for these terms are competitive and higher than average CD rates and are the best Chase Bank CD rates for 2025. 

Chase CD rates are the same in many areas, but they can also vary depending on where you live. We used the zip code from New York City, New York, for the following Chase Featured CD rates: 

Other Chase Bank CD Rates

Chase also has CD terms ranging from one month to 12 years. The relationship rates for these Chase CD terms are less competitive than its Featured CDs. Here are the rest of the Chase CD rates, based on the zip code from New York, New York:

Overview of Chase CDs

Chase offers traditional CDs with terms ranging from 1 month to 120 months. It has uncommon terms, like 1-month, 9-month, and 15-month terms, which is a lot more variety than other banks.

If you already bank with Chase, it's a good option for building a CD ladder because you'll be able to earn relationship rates and have a good variety of CD terms to choose from. Similar to many other banks, Chase automatically renews an account when the CD reaches maturity. Make sure to check your CD's grace period to see if you should keep money for a new term, or withdraw it.

Chase is not a great option for specialty CDs. It does not have any unique CDs like no-penalty CDs or step-up CDs.

Chase CD Pros and Cons

Chase CD Pros

• More CD variety than most banks
• Access to over 4,700 branches throughout the continental U.S.
• Compounds interest daily
• FDIC-insured

Chase CD Cons

• Chase standard CD rates are low
• Best Chase CD rates require a Chase checking account and a high minimum opening deposit
• No specialty CDs, like a no-penalty CD or step-up CD
• Other banks have lower CD minimum opening requirements

Chase CD Alternatives

Chase CDs vs. Wells Fargo CDs

Wells Fargo's CD terms lengths are limited, so if you want a term under three months or over two years, Chase is the clear choice.

Similar to Chase, Wells Fargo has a Wells Fargo Standard Fixed Rate CD and Wells Fargo Special Fixed Rate CD. The Wells Fargo Special Fixed Rate CD offers the best Wells Fargo CD rates, ranging from 3.50% to 4.26% (varies by location) APY. The Wells Fargo Standard Fixed Rate CD has less competitive rates, ranging from 2.00% to 2.76% APY.

Since Wells Fargo also has standard rates and relationship rates, the highest APY option for you will depend on whether you have a checking account with either Chase or Wells Fargo. If you only qualify for standard rates though, Wells Fargo will probably have more appealing options than Chase.

Wells Fargo Bank Review

Chase CDs vs. Bank of America CDs

Chase CDs and Bank of America CDs have similar rates and term length options.

At Bank of America, you can get a Bank of America Fixed Term CD which pays 0.03% to 3.75% APY, or a Bank of America Featured CD which offers 0.11% to 3.80% (vary by location) APY.

Bank of America CD rates are more straightforward because they currently pay the same rates regardless of your account balance. That may sway your decision if you're not an existing customer at either bank.

If you're strictly searching for the best APY for a certain CD term, your top choice will depend on the term you want. Bank of America and Chase both have a few CD terms with competitive APYs, but ultimately, most terms have low rates. It could benefit you to check online banks for specific CD terms to rest assured you have the best rate.

Bank of America Review

How to Open a Chase Bank CD

You can open a Chase Bank CD online if you have a Chase checking account. Otherwise, you can schedule a meeting with a banker online or drop by a nearby branch to open a CD. Generally, it's recommended to open a CD based on a specific goal that has a clear purpose and timeline.

You'll need at least $1,000 to open a CD with Chase, which is a fairly standard opening deposit requirement; you can find banks that require less, but some ask for more. If you're planning to deposit more than $1 million in a CD, you'll also have to schedule a meeting with a banker to open an account.

The person opening the CD must be at least 18 years old. Opening a Chase Bank CD requires basic documentation, like a U.S. ID, Social Security number, and proof of address. If you are not a U.S. citizen, you can verify your identity with a Matricula Consular or foreign passport.

Should You Open a Chase Bank CD?

Overall, Chase Bank CDs are most appealing to existing Chase customers who have a checking account with the bank. They'll be able to qualify for relationship rates for a variety of term options, and maximize savings with Chase CDs since Chase Savings℠ only pays 0.01% APY.

However, if you're open to banking online, the best online banks offer terms over five years and pay higher rates on most terms than Chase Bank.

Why You Should Trust Us: How We Reviewed Chase CDs

Business Insider's personal finance team uses a bank account methodology to review Chase CDs. We rate all types of bank accounts on a scale from one to five stars. For CDs in particular, we look at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, security, and the ethics of the company. We routinely monitor Chase CD rates to keep up-to-date with CD rate changes.

You can learn more about how we cover and rate products by reading about our editorial standards.

Chase Bank CD FAQs

Sophia Acevedo

Banking Editor

Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics. ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving. Sophia was also a part of Business Insider's 2024 series "My Financial Life," which focused on telling stories that could help people live and spend better.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE Accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

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EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.Sophia is a member of the National Association of Hispanic Journalists.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.

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Evelyn He is a compliance and operations associate for Business Insider’s Personal Finance team. Evelyn ensures content accuracy and editorial independence so readers get the most up-to-date and objective financial advice, enabling them to make informed financial decisions.ExperienceAs part of the compliance team, Evelyn helps fact check Personal Finance stories and works to make sure that the language is clear, precise, and compliant with government regulations and partner guidelines. Previously, Evelyn worked as a compliance specialist for Apellis Pharmaceuticals and a legal assistant at the law firm Morrison Mahoney.ExpertiseEvelyn is an expert in the following areas:

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