bank rates

For A Change, Chase’s CD Rates Increase

Chase now offers 2.25% APY on a 60-month CD.Extra! Extra! Read all about it!

Chase has raised a CD rate. By a quarter of a percentage point even.

This qualifies as news – we haven’t seen that big of a change in a Chase rate in a while.

The big bank with more than 2,500 branches is now paying 2.25% APY for 60-month CDs. When last we looked at Chase’s rates in February, it was paying 2.00%.

This CD special requires a $10,000 minimum deposit and a Chase checking account.

Although Chase’s rates vary by state, this rate appears to be consistent in all of the markets we searched. (This rate was, in fact, offered in California two months ago but appears to be more widely available now.)

The average rate offered by large banks and thrifts for 60-month certificates of deposit is 1.71% APY.

Of course, you’ll always find better rates on our CD Rates Leaderboard. Melrose Credit Union owns the top 60-month CD rate there, with 2.93% APY.

Here’s a random sampling of Chase’s other CD specials, which also require a $10,000 minimum deposit and a Chase checking account. We’ve highlighted the highest rate we could find in each term:

9-month CD rate is 0.50% APY versus an average rate of 0.29% APY for 6-month CDs. (Leaderboard leader is 1.08% APY.)

13-month CD rate is 0.70% APY versus an average rate of 0.47% APY for 12-month CDs. (Leaderboard leader is 1.41% APY.)

24-month CD rate is 1.01% APY versus an average rate of 0.72% APY. (Leaderboard leader is 1.66% APY.)

30-month CD rate is 1.01% APY versus an average rate of 1.04% APY. (Leaderboard leader for 36-month CDs is 2.17% APY.)

If you’re not a Chase customer and don’t qualify for these rates, we suggest buying your CDs elsewhere.

Honestly, we’d advise Chase customers to shop elsewhere, too.

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 (4)
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4 Existing Comments
  1. Lightrider said:
    on April 16th at 10:49 am


  2. Kathy at Bankaholic said:
    on April 19th at 10:05 am

    Well, looks like Chase has already dropped two of these rates: the 13-month CD is 0.60% and the 24-month CD is 0.85% as of April 19, 2011.

  3. Darci Smith said:
    on April 19th at 02:45 pm

    I just checked, and the rates in the post are still good — but not everywhere. (I found those higher 13- and 24-month Chase CD rates in Oklahoma.) With Chase and many other big banks, CD rates can vary greatly by geographic area. Always put in your ZIP code to see the rate offerings specific to your area.

  4. Kathy at Bankaholic said:
    on May 18th at 07:42 am

    You can still get the 60-month rate as of May 18, 2011. In some areas, the 9-month rate is now 0.35% APY; 13-month, 0.50% APY; and 24-month, 0.85% APY. The 30-month special remained at 1.01% APY. Remember to check using your ZIP, as Darci says.