bank rates

CD Rates Fall At Chase Bank

CD rates specials better than some big banksChase’s CD rates have dropped — and we’re hoping this doesn’t start a trend among big banks, which have been fairly steady thus far in 2012.

The 36-month CD special is Chase’s only above-average rate. It pays 0.75% APY with a $10,000 minimum deposit and a checking account.

The average annual yield offered by large banks and thrifts for 36-month CDs is 0.70% this week.

But it’s not even close to the top nationally available 36-month CD on our CD Rates Leaderboard. AmTrust Direct owns that term with an offering of 1.55% APY.

Chase’s 60-month CD special now pays 1.10% APY. Last time we checked, it was 1.25% APY.

That special no longer beats the average annual yield offered by large banks and thrifts for 60-month CDs, which, at 1.14%, is a new record low.

Our Leaderboard leader for that term, KeySource Commercial Bank, pays 1.95% APY.

You can earn 2.00% APY at Chase, but that will take 120 months.

In case you’re curious, Chase’s early-withdrawal penalty for terms of 365 days or more, is $25 plus 3% of the amount you withdraw.

Chase’s standard offerings require a lower $1,000 minimum deposit and a checking account. They’ve held steady and are all below average:

6-month CD rate is 0.20% APY versus an average rate of 0.22% APY. (Leaderboard leader is 0.85% APY.)

12-month CD rate is 0.25% APY versus an average rate of 0.34% APY. (Leaderboard leader is 1.15% APY.)

24-month CD rate is 0.40% APY versus an average rate of 0.53% APY. (Leaderboard leader is 1.26% APY.)

36-month CD rate is 0.50% APY versus an average rate of 0.70% APY. (Leaderboard leader is 1.55% APY.)

Like most big banks, Chase asks you to input your ZIP code on the website to find rates specific to your geographic area. For this post, I checked ZIP codes in California, Florida, Illinois, Michigan and New York at www.chase.com.

To buy a Chase CD, you need to live in a state where Chase has one of more than 2,500 branches.

There are definitely better deals out there, and you’ll find them if you compare Chase’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (3)
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3 Existing Comments
  1. lightrider said:
    on March 18th at 06:44 pm

    Anyone that uses a bank (any bank) today is a DOPE!!!

    C/U’s the way to go

  2. Kathy at Bankaholic said:
    on April 2nd at 07:30 am

    These rates haven’t changed as of today.

  3. Kathy at Bankaholic said:
    on April 17th at 08:41 am

    Chase is still offering all of these rates.