Chase CD Rates for October 2024

Sue Hwang / GOBankingRates

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

JPMorgan Chase is one of the largest banks in the U.S. When you deposit your money in a Chase account, you can be assured it will be safe, secure and easily accessible from more than 4,700 branches and over 15,000 ATMs nationwide.

Chase offers top-ranked rewards credit cards, plus convenient online and mobile banking options. As a traditional bank, Chase has a lot going for it, including a long-standing reputation for stellar, personalized service at local branches. Its fraud protection services are also second to none. But if you’re looking for the best CD rates, you won’t find them at Chase.

What Are the Current CD Rates at Chase?

Chase offers two tiers of CD interest rates: a standard APY of across the board, regardless of the term length or size of the CD, and relationship rates, which vary based on the term.

See the relationship rates for various Chase CDs in the table below.

Chase Featured CD Terms

Banks offer higher rates on a rotating selection of featured CDs. Chase is currently featuring three terms. The rates are significantly higher than the standard relationship rates, and two vary according to the amount invested.

Chase CD Ladder Terms and Rates

Chase Private Client Checking customers can invest in one of two prebuilt CD ladders. Each ladder includes four CDs opened at the same time and with the same amount of money, but with different terms.

The benefit of a typical CD ladder is that it lets you earn the higher rates usually associated with longer-term CDs without having to give up access to your money for that long.

Say, for example, your ladder consists of CDs with terms for one year, two years, three years and four years. When the one-year CD matures, you might reinvest it in a new four-year CD. When the two-year CD matures a year later, you can reinvest that in a four-year CD as well. After four years, you’d have four four-year CDs, with one maturing each year.

Make your money work for you

Get the latest news on investing, money, and more with our free newsletter.

Submit

By subscribing, you agree to our Terms of Use and Privacy Policy. Unsubscribe at any time.

Thanks!

You're now subscribed to our newsletter. Check your inbox for more details.

The four-month ladder includes the following CD terms and rates:

• 1-month CD:
• 2-month CD:
• 3-month CD:
• 4-month CD:

With this ladder, your CDs are automatically reinvested for four months. After four months, you’ll have four four-month CDs, with one maturing each month.

The 12-month ladder includes the following CD terms and rates:

• 3-month CD:
• 6-month CD: – , depending on account balance
• 9-month CD: – , depending on account balance
• 12-month CD: – , depending on account balance

With this ladder, your CDs are automatically reinvested for 12 months. After 12 months, you’ll have four 12-month CDs, with one maturing every three months.

Chase CD Requirements and Penalties

If you are going to open a Chase CD, you want to consider the annual percentage yields, but outside of the interest earned, you also want to familiarize yourself with any other requirements or penalties that will affect you. Here are some key takeaways.

Minimum Deposit Criteria

All Chase CDs require a minimum initial deposit of $1,000 no matter the term length. Chase checking account customers can open a CD online. 

Compounding

CD interest is compounded daily, and you can choose to have it paid out monthly, quarterly, semiannually, annually or at maturity, depending on the term of your CD.

Tiered Balances

Chase offers different CD rates based on the balance in your account, but these tiered rates are only available to relationship clients. Non-checking customers and those opening a CD with a balance greater than $1 million must schedule a meeting with a banker. CD ladders are only available to Private Clients who link a Chase Private Client Checking account.

Penalties for Early Withdrawals and Other Fees

Once you’ve opened your CD, you’re obligated to leave your money until the maturity date. Otherwise, you’ll pay one of the following penalties:

• 90 days’ interest for CDs with terms shorter than six months.
• 180 days’ interest for CDs with terms of six months to less than two years
• 365 days’ interest for CDs with terms of two years or more

The minimum penalty is seven days’ interest, so if you withdraw money less than seven days after opening the account or completing another withdrawal, the penalty will be seven days’ interest, deducted from your principal.

Fees for Linked Checking Accounts

Like many banks and credit unions, Chase checking accounts have monthly maintenance fees. You can waive the monthly fee, however, by meeting the direct deposit or minimum balance requirements.

Alternatives to Chase CDs

CDs in general, and Chase CDs in particular, won’t suit every individual’s needs. For some, a savings account is a better option because it lets you withdraw money without penalty. Although Chase doesn’t have a high-yield savings account, the accounts it does have offer similar rates as the standard, non-relationship CDs.

Chase Savings

Chase Savings^SM is a basic savings account, and it’s the most popular one Chase offers. The account earns just APY, which is the same as a non-relationship CD. This account has a $5 monthly fee Chase will waive for statement periods in which you maintain a balance of $300, Autosave at least $25 or have the account linked to a Chase College Checking account for overdraft protection. There’s no fee for customers under age 18.

Chase Premier Savings

Chase Premier Savings^SM earns higher interest than the basic account. The relationship rate, for customers who link their account to a Chase Premier Plus Checking^SM or Chase Sapphire℠ Checking account, is for all balance tiers.

About Chase Relationship Banking

It’s easy to get Chase’s relationship rate for your CDs, but you’ll have to open another bank account to do it. Just open a Chase checking account and then link your CD to your checking account.

Chase offers a variety of checking accounts for customers at all stages of life, including the following options:

• Chase Total Checking^®
• Chase Secure Banking^SM
• Chase Premier Plus Checking^SM
• Chase Sapphire^SM Banking
• Chase Private Client Checking^SM

All of these Chase checking accounts have monthly maintenance fees, but it is easy to avoid that monthly fee if you meet direct deposit or minimum balance requirements.*

Who Are Chase CDs Best For?

Chase CDs don’t offer the highest interest rates available today. But if you have a Chase checking account and open a featured CD, you’ll earn a competitive rate for your money.

Otherwise, it might be best to look elsewhere for a CD with a higher APY.

Here are the pros and cons of Chase CDs.

Pros

• FDIC insured
• More than 4,700 convenient branch locations across the U.S.
• Special relationship rates for customers with a Chase checking account
• Online and mobile banking
• Competitive rates on featured CDs
• One of the largest banks in the U.S.

Cons

• Can find higher rates with neobanks
• Early withdrawal penalties
• $1,000 minimum opening deposit

Who Might Want To Open a Chase CD?

Loyal Chase customers with more than $100,000 to invest in a CD might want to consider a Chase CD with terms of three, nine or 12 months to earn, or APY, respectively. This can be a good savings option if you are putting aside a large sum of money for a specific event, such as purchasing a home or making major home improvements.

Here are a few things to consider if you’re weighing whether you’d like to open a CD with Chase:

• Chase funds are FDIC insured up to $250,000 per account holder, per account ownership category.
• Chase Private Client customers can also take advantage of CD ladders through Chase, so you can enjoy more flexible access to your money even as your savings grows.
• If you want to open a CD at a national bank with local brick-and-mortar branches, Chase could be a good choice — as long as you are a Chase checking customer.
• Also, if you are looking for a long-term CD, Chase is one of the few financial institutions offering CDs with 10-year terms.

Who Might Want To Pass on Chase’s CD Options?

If you don’t already have a Chase checking account, you should look elsewhere for CDs with a much higher return and smaller minimum deposit requirements. There is no reason you’d want to open a Chase CD at the abysmal rate of APY.

You can find better rates at other traditional banks, like Bank of America, Member FDIC, or through online banks and fintechs like BrioDirect.

Caitlyn Moorhead contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 26, 2024.

The information related to Chase accounts was collected by GOBankingRates and has not been reviewed or provided by the issuer of these products. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for these products.

*Chase Total Checking has a monthly fee of $12 or $0 with one of the following, each monthly statement period: electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNow^SM network, (iii) third-party services that facilitate payments to your debit card using the Visa® or Mastercard® network, OR a balance at the beginning of each day of $1,500 or more in this account, OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

INVESTMENT AND INSURANCE PRODUCTS: • NOT A DEPOSIT • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNEMENT AGENCY • NO BANK GUARANTEE • MAY LOSE VALUE

Share This Article: