bank rates

Checking Needed To Get Chase’s Best CDs

If you don’t have a Chase checking account, you won’t want to buy a certificate of deposit there.

Its rates are just awful.If you have a checking account, and at least $10,000 to invest, you can probably earn avearge rates.

But if you have Chase checking and at least $10,000 to invest, you can probably qualify for one of the bank’s “CD Specials”.

Although they don’t pay nearly as much as the best nationally available CDs, they can provide an average return on your savings.

That might be good enough for some Chase customers.

The bank offers three tiers of CD rates.

The lowest-paying tier is what anyone who walks in off the street at one of the bank’s 5,100 branches is paid unless they have more than $100,000 to invest.

With these “Non-Relationahips” rates you’ll earn from 0.20% APY on a 12-month CD, to 0.75% APY on a 36-month CD and 1.25% APY on a 60-month CD.

All of those returns are well below the national average for those terms (0.67%, 1.29% and 1.88%, respectively.)

If you have a Chase checking account and between $1,000 and $10,000 to invest, you can qualify for the slightly higher tier of “Relationship” rates.

They still offer below average returns, however — 0.25% APY for a 12-month CD, 1.01% APY on a 36-month CD and 1.50% APY on a 60-month CD.

To obtain the top tier of “Special” rates you’ll need a Chase checking account and more than $10,000 to invest.

They pay slightly higher than average returns — 0.75% APY on a 13-month CD, 1.35% APY on a 36-month CD and 2.00% APY on a 60-month CD.

What Chase calls its special rates are very similar to what Bank of America is paying on its regular CDs.

The big difference is that Bank of America makes those rates available to everyone.

You can also compare Chase’s rates with the best CD rates from scores of other banks in our database.

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  1. RateRunner said:
    on August 16th at 03:42 pm

    Regulators seized a single Chicago-area bank last week, closing Palos Bank and Trust Co. Don’t miss this or any of the other new posts on our Personal Finance blog. You can always reach it by clicking on the “Finance” tab at the top of every page.