bank rates

‘Nice’ Words About Chase’s ‘Great Rates’

Our mother told us that if we can’t say something nice, we shouldn’t say anything at all.

CD rates specials better than other big banksSo, we’ll say this about Chase: The bank’s CD rates on specials are above average when compared with other large banks and thrifts.

There. We said it.

Of course, the specials are still pretty mediocre when compared to the rates you’ll find on our CD Rates Leaderboard.

Sorry, mom.

The bank touts its “great rates for Chase customers” tagline. Though better than some, these rates (all for a $10,000 minimum deposit) are hardly exemplary, including its:

9-month CD rate of 0.50% APY versus an average rate of 0.30% APY for 6-month CDs. (Leaderboard leader is 1.15% APY.)

13-month CD rate of 0.60% APY versus an average rate of 0.48% APY for 12-month CDs. (Leaderboard leader is 1.41% APY.)

24-month CD rate of 0.85% APY versus an average rate of 0.73% APY. (Leaderboard leader is 1.75% APY.)

60-month CD rate of 2.00% APY versus an average rate of 1.61% APY. (Leaderboard leader is 2.93% APY.)

Brag-worthy rates? Um, no.

And remember, these “great” rates are only for Chase customers who have a checking account at the bank.

We really can’t see why anyone would bother with a certificate of deposit at Chase, even if they have a relationship with the bank. (And a longtime Chase customer is writing this post.)

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. SeniorSaver said:
    on February 13th at 03:42 pm

    We Californians are blessed with a 2.25% APY for the 60-month CD special (lucky us)!
    Still, though, 2.25% is below the 5-year Treasury Note yield. Nothing to write home to Mom about.

  2. Kathy at Bankaholic said:
    on March 16th at 09:52 pm

    Chase’s rates are the same as of March 16, 2011, except for the 60-month CD, which now is paying 2.25% APY.

  3. Kathy at Bankaholic said:
    on March 30th at 09:37 am

    You can still get these rates as of March 30, 2011, including the higher 60-month rate of 2.25% APY.

  4. Kathy at Bankaholic said:
    on May 26th at 10:32 am

    Chase’s 9- and 13-month rates are even lower as of May 26, 2011 (0.35% APY and 0.50% APY, respectively), but the 24-month rate is the same. The 60-month rate is still the higher 2.25% APY posted earlier this year.