Chase bank offers CD rates in two different formats, each using different timeframes and offering rates based on the timeframe. Their annual percentage yield rate is competitive with other corporations.
Chase Bank CD rates are competitive with other banks that offer CDs, but fall below the average of online corporations which offer similar products. It also takes a little effort to find a listing of the interest rates Chase offers for their CDs. Few, if any sites, maintain comparison charts listing the rates for Chase branches. Because Chase Bank has acquired Washington Mutual (WaMu), that appeared to be a reasonable option to find information on interest rates. But during WaMu’s conversion to Chase, WaMu’s products are not being offered in every state.
Chase Bank CD rates are offered in two versions. The first is a Chase Certificate of Deposit and is available in six-month increments, up to thirty-six months. The 6-month and 12-month CDs have interest rates that return an annual percentage yield (APY) of approximately .25%. The 18-, 24-, and 36-month CD all return an APY of 1.01%. These rates will fluctuate over time, so the numbers offered here may change at a future date. All of their CD investments require a $1,000.00 minimum investment, so they can be rolled over or renewed, and the money cannot be accessed until maturity.
Chase Bank CD rates are also offered in “Chase CD Specials.” All of these products have Chase Bank CD rates that are greater than the Chase standard CD. The most significant difference between the two products is that the CD Specials are offered in different term sequences than the Chase CD.
The CD Specials begin with 9- and 13-month plans, then jump to an 18-month level, increasing at varying rates after that, up to ten years. Each requires a minimum investment of $1,000, and they can also be rolled over or renewed. The APY for the 9-month CD is 1.01% with a 3.00% APY for the 60-month product. The intervening levels have annual percentage yields that increase from the preceding level.
There are several fine print footnotes to these products, which should be read before making a decision. Most notable is the caveat that the money can be withdrawn prior to maturity only in the event of the death or mental incompetence of the named owner. Also, Chase Bank CD rates are presented as APY, not as an interest rate. This creates difficulty when comparing with other banks or institutions because the information Chase offers does show if the APY is greater than the interest rate.
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