Minor Victory: Chase Doesn’t Cut CD Rates

Chase’s CD rates have held steady in the new year.

While they’re not the “great rates” this big bank with more than 2,500 branches advertises, I’ll give credit where credit is due.

Chase’s 60-month CD special is still 1.25% APY with a $10,000 minimum deposit.

That’s just under three-quarters of a percentage point less than the top 60-month CD rate on our CD Rates Leaderboard, which just keeps falling and falling.

Chase does beat the average annual yield offered by large banks and thrifts for 60-month CDs, which is 1.16% APY.

At 0.75% APY, Chase’s 36-month CD special — which also requires a $10,000 minimum deposit — beats the average rate of 0.68% APY but isn’t close to the 1.55% APY our Leaderboard leader is paying.

Chase’s standard offerings require a lower $1,000 minimum deposit. All are 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 0.51% APY. (Leaderboard leader is 1.30% APY.)

36-month CD rate is 0.50% APY versus an average rate of 0.68% APY. (Leaderboard leader is 1.55% APY.)

As with any big banks, 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 there’s a branch. So if your ZIP code gets you nowhere, go elsewhere.

Hey, that’s good advice for everyone.

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.