Chase's 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 rates themselves vary by how long you commit your money—typically ranging from 3 months to 5 years. The longer the term, the higher the rate usually is. You can see Chase's current rates on their website under "Rates & APY," but that page shows only what they're offering today; it won't tell you whether that's competitive against other banks or whether it will be better or worse next week.

The practical answer to "what's the best rate" is: it depends on whether you're comparing Chase to other banks, or comparing different term lengths within Chase. If you're trying to decide between Chase and another institution, you'll need to check multiple banks on the same day. If you're deciding how long to lock money with Chase, the trade-off is straightforward—longer terms pay more, but you can't touch the money without a penalty.

Key Takeaways

  • Chase updates CD rates weekly, and the rate you see today may be different next week, so check the rate before you open an account.
  • Longer CD terms (like 5 years) pay higher rates than shorter ones (like 3 months), but you pay a penalty if you withdraw early.
  • Chase's rates are often lower than online banks and credit unions, so comparing across institutions on the same day matters if you're trying to maximize return.
  • You can open a Chase CD online or in a branch, and the rate locks in on the day you fund the account, not the day you explore.

How to find Chase's current CD rates

Go to Chase.com and search for "CD rates" or navigate to the Rates & APY page. You'll see a table showing the annual percentage yield (APY) for each term length Chase currently offers. The page updates weekly, usually on Tuesdays or Wednesdays, though Chase does not publish a fixed schedule.

The rate you see is the rate you'll receive if you open the account that day. If you wait a week, the rate may be higher or lower. Chase does not hold a rate for you while you think about it—the rate is locked only when you fund the CD.

If you're in a Chase branch, ask a banker for the current rates. They have access to the same rates as the website, but they cannot offer you a better rate than what's published online.

Why Chase's rates may be lower than other banks

Chase is a large national bank with thousands of branches. Online banks and credit unions often offer higher CD rates because they have lower overhead costs and don't maintain physical locations. On any given week, an online bank's 1-year CD might pay 0.50% more APY than Chase's, which means real money over time.

If you're choosing Chase because you already bank there and want everything in one place, that's a valid reason—but it's worth knowing you're likely paying for convenience. If you're opening a CD purely to earn the highest return, comparing Chase to at least two online banks or credit unions on the same day is the only way to know whether you're getting a competitive rate.

Chase does occasionally run promotional rates for new customers, so it's worth checking whether there's a bonus offer on top of the standard rate. These promotions change frequently and are not always advertised prominently on the rates page.

The difference between Chase's standard CD and other CD products

Chase offers a standard CD and sometimes a "CD with Step-Up Rate" option. The Step-Up CD allows your rate to increase at set intervals during the term—useful if you think interest rates are rising. The Step-Up CD typically starts at a lower rate than the standard CD but may end higher if rates do rise as expected.

Chase also offers a "CD with Bump-Up" option in some markets, which lets you request one rate increase during the term if rates go up. This is less flexible than the Step-Up but more flexible than a standard CD.

For most people, the standard CD is the simplest choice. The Step-Up and Bump-Up products are worth considering only if you believe interest rates will rise during your CD term and you want to benefit from that without opening a new CD.

What happens when your CD matures

When your CD reaches its end date, Chase automatically renews it into a new CD at the current rate for the same term length—unless you tell them not to. You have a grace period (usually 7 to 10 days) to withdraw the money or move it elsewhere without penalty. If you do nothing, the renewal happens automatically and you're locked in again.

Set a calendar reminder for a few days before your maturity date so you have time to decide whether to renew, withdraw, or move the money. If you miss the grace period and the CD renews, you can still withdraw without penalty during the first week of the new term, but after that you'll owe an early withdrawal penalty if you take the money out.

Early withdrawal penalties and what they cost

Chase charges a penalty if you withdraw money from a CD before the maturity date. The penalty is usually a certain number of months' worth of interest. For example, a 1-year CD might have a penalty of 3 months' interest, and a 5-year CD might have a penalty of 12 months' interest.

The longer the term, the larger the penalty. This is why locking money into a 5-year CD at a high rate can backfire if you need the money in 2 years—you'll lose a year's worth of interest just to access your own principal.

Before you open a CD, ask Chase what the exact penalty is for early withdrawal. It's usually listed in the terms, but it's worth confirming because the penalty can be the difference between breaking even and losing money if your situation changes.

How to open a Chase CD

You can open a CD online through Chase.com, by phone at the number on the back of your Chase debit card, or in person at a branch. Online is usually fastest—you can complete the process in 10 minutes and fund it when ready from an existing Chase account.

You'll need to choose the term length, decide how much to deposit (Chase's minimum is usually $500 to $1,000, depending on the product), and confirm the rate. The rate locks in the moment you fund the account, not when you explore.

If you're opening a CD with money from outside Chase, you'll need to transfer it in first or provide banking details for Chase to pull it from another account. This can take 1 to 3 business days, so the rate may change between when you explore and when the money actually arrives and the CD opens.

Frequently Asked Questions

Can I move my CD to a different bank if I find a better rate?

Yes, but you'll pay Chase's early withdrawal penalty. Calculate whether the higher rate at the new bank will make up for the penalty over the remaining time on your CD. Sometimes it does, sometimes it doesn't—it depends on how much time is left and how much higher the other rate is.

What if interest rates drop after I open my CD?

Your rate is locked in and won't change. You keep the rate you locked in on the day you funded the CD, even if Chase's rates drop the next week. This is the safety of a CD—you know exactly what you'll earn.

Is my money safe in a Chase CD?

Yes. Chase is FDIC-insured up to $250,000 per account type. A CD counts as a separate account category, so you can have $250,000 in a CD and $250,000 in a savings account at Chase, and both are fully protected if the bank fails.

Can I add money to a CD after I open it?

No. CDs are fixed-amount products. Once you open it with an initial deposit, you cannot add more money to that CD. If you want to invest additional money, you'd need to open a separate CD.

How often does Chase change its CD rates?

Chase updates rates weekly, usually in the middle of the week. The changes reflect broader interest rate movements set by the Federal Reserve, though banks have some freedom in how much of that change they pass to customers.