bank rates

Chase’s CD Rates Vs. Other Big Banks

Chase beats the other big banks on 3-year CD rates.We hope we’ve beaten the message into you that the big banks just don’t offer competitive CD rates.

But what if, for no other reason than it’s convenient to bank at one of these ubiquitous institutions, you decide you must put your money in one of them?

What’s the best of the big four for certificates of deposit?

Most of the offerings are just too pathetic to compare, but if you’re looking for a 3-year CD, Chase is your best bet. Another of the big banks challenges when it comes to longer-term CDs.

Let’s compare a couple of Chase’s best CD rates with those offered by Bank of America, Citibank and Wells Fargo (CD rates vary by state, so you’ll have to find the rates specific to your location.).

In most states I looked at, with a $10,000 minimum deposit Chase (www.chase.com) is paying:

  • 1.75% APY on 60-month CDs.
  • 1.10% APY on 36-month CDs.

You must have a qualified Chase checking account to purchase these CDs.

Bank of America’s (www.bankofamerica.com) best CD rates ($1,000 minimum deposit):

  • 1.50% APY on 60-month CDs.
  • 0.75% APY on 36-month CDs.

Citibank’s (www.citibank.com) best CD rates ($1,000 minimum deposit):

  • 1.50% APY on 60-month CDs.
  • 0.90% APY on 36-month CDs.

Wells Fargo’s (www.wellsfargo.com) best CD rates ($5,000 minimum deposit):

  • 1.90% APY on 58-month CDs.
  • 0.70% APY on 35-month CDs.

Wells holds a slight advantage on the long-term CD, and it doesn’t require you open any other accounts to purchase a CD.

How do these rates compare?

Our most recent survey shows 36-month CDs are paying on average 0.97% APY at banks across the country, while you’ll earn 1.61% APY on 60-month CDs.

Chase beats the average on both of these terms.

Still, even these banks’ highest rates aren’t great when compared to the top nationally available deals on our CD Rates Leaderboard.

The best 60-month CD pays 2.60% APY, while the top 36-month CD will earn you 2.00% APY.

And, you’ll find better deals if you compare these banks’ returns with the best CD rates from scores of other banks in our extensive database.

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Comments (2)
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2 Existing Comments
  1. SeniorSaver said:
    on August 6th at 01:58 pm

    I noticed this morning that, in California at least, Chase is now offering a “relationship” 84-month CD at 2.50% APY. Forget it!

  2. Tired of Crooks & Banksters said:
    on August 12th at 02:11 am

    It is absolutely CRIMINAL what the banks and Feds are doing, using our hard-earned dollars and paying us NEXT TO NOTHING, year after year, for using our money! A shameful disgrace. What are seniors supposed to do, who are barely scraping by on Social Security, and who lost a ton of $$$ in the stock market crash in 2008, and whose homes have lost 1/3 to 1/2 their value, and who now have socked away their savings into these crummy CDs that pay 1-2% if that much?

    A rotten shame, and those responsible should all rot in hell.