bank rates

Chase’s Special CD Rates Fall — Again

Chase now offers 1.25% APY on a 60-month CD.Chase’s CD specials become less special every time I check them.

In the past few months, we’ve watched the 60-month CD special drop from 2.25% APY all the way down to 1.25% APY in many geographic areas.

As usual, I viewed CD rates on Chase’s website ( using a random sampling of ZIP codes from across the country.

But this time, I found a handful of states were prompting a product-not-available message — puzzling. That’s never happened before.

I called Chase customer service, to find out that you need to live in a state where the big bank has one of its thousands of branches to buy a CD.

This does make sense because you need to have a Chase account, like a checking account, to even buy a CD online.

So, if you live in a state without a Chase presence, you’ll have to invest your $10,000 minimum deposit elsewhere.

Let’s be honest, everyone should do that.

The 60-month certificate of deposit special isn’t a good deal.

It doesn’t even beat the average rate offered by large banks and thrifts, which, at 1.31%, marks another record low for the 60-month term.

And it’s a full percentage point lower than the 2.25% APY our CD Rates Leaderboard 60-month leader, AmTrust Direct, is offering nationwide.

Chase’s other CD specials match or barely eek out above average for their terms, but they are better than the standard offerings, which require a lower $1,000 minimum deposit.

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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