Yes, Chase offers CDs through both its retail branches and online platform

Chase Bank does offer certificates of deposit (CDs) to customers. You can open a CD at any Chase branch, through Chase online banking, or by calling their customer service line. Chase offers both standard CDs and a product called Chase CD Specials, which are promotional CDs with higher rates for limited periods.

The specific rates and terms available depend on when you open the account — Chase changes its CD rates regularly based on market conditions. You can check current rates on Chase's website or by visiting a branch. Chase CDs are FDIC insured up to $250,000, which means your money is protected by federal insurance if the bank fails.

Key Takeaways

  • Chase offers standard CDs and promotional CD Specials with terms ranging from a few months to several years.
  • You can open a Chase CD online, at a branch, or by phone, and rates vary depending on the term length you choose.
  • Chase CDs are FDIC insured up to $250,000 per account owner, protecting your principal and earned interest.
  • Early withdrawal penalties apply if you take money out before the CD matures, and the penalty amount depends on the term length.
  • Chase customers with linked checking or savings accounts may have access to different rate tiers or promotional offers.

How Chase CD rates compare to other banks

Chase's CD rates are typically lower than rates offered by online-only banks and credit unions, though they are competitive with other large national banks. This is common — brick-and-mortar banks with physical branches usually pay less on CDs because they have higher operating costs. If you already bank with Chase and value the convenience of managing everything in one place, the rate difference may not matter to you. If you are shopping purely for the highest rate, you may find better terms elsewhere.

Chase does run promotional periods where it raises rates on certain CD terms — these are the Chase CD Specials mentioned above. These rates are higher than Chase's standard rates but are only available for a limited time. Checking Chase's website or asking a banker about current specials is worth doing before you commit your money.

What happens when your Chase CD matures

When your CD reaches its maturity date, Chase will contact you to let you know the term is ending. You then have a window of time — usually around 10 days — to decide what to do with the money. You can roll the funds into a new CD at the current rate, move the money to a savings or checking account, or withdraw it entirely.

If you do nothing during that window, Chase will automatically renew your CD into a new term at the current rate. This automatic renewal happens at the same term length as your original CD — so a one-year CD renews into another one-year CD. If you do not want to renew, you must tell Chase before the renewal deadline, either online, by phone, or at a branch.

Early withdrawal penalties and how they work

If you withdraw money from your Chase CD before it matures, you will pay an early withdrawal penalty. The penalty amount depends on the CD's term length — longer-term CDs have larger penalties. For example, a one-year CD might have a penalty equal to three months of interest, while a five-year CD might have a penalty equal to one year of interest. Chase publishes the exact penalty for each term on its website and disclosure documents.

The penalty is deducted from your CD balance, which means you may receive less money back than you originally deposited if the penalty is large enough. Before opening a CD, make sure you will not need the money until maturity, or that the interest you earn is worth paying the penalty if circumstances change.

Opening a Chase CD online versus in person

You can open a Chase CD entirely online if you already have a Chase checking or savings account. Log into your Chase account, navigate to the CD section, choose your term and amount, and complete the process. The funds are typically transferred from your linked account within one business day. Online CDs are convenient and you can do it anytime, but you cannot ask questions in real time.

Opening a CD at a Chase branch lets you speak with a banker who can explain the terms, discuss your options, and answer questions about penalties or renewal. Some people prefer this approach if they are new to CDs or want to understand all the details before committing. Branch hours vary by location, so you may need to plan a visit.

Calling Chase customer service is also an option — a representative can walk you through the process and answer questions over the phone. The phone number is on your Chase debit card or on the Chase website.

Minimum deposit amounts and account requirements

Chase CDs have a minimum opening deposit, which varies depending on the CD product and current promotions. Standard minimums are typically $1,000, though some promotional CDs may have different minimums. You can check the exact minimum on Chase's website or ask at a branch.

You do not need to have an existing Chase account to open a CD, but if you do not, you may need to provide additional information during the opening process. If you already have a Chase checking or savings account, opening a CD is faster because Chase already has your information on file.

Tax reporting and interest earned on Chase CDs

The interest you earn on a Chase CD is taxable income. At the end of each year, Chase will send you a Form 1099-INT showing how much interest your CD earned. You must report this amount on your federal tax return, even if the amount is small.

The interest is taxed in the year it is earned, not when you withdraw the money. This matters if you have a long-term CD — you owe taxes on the interest each year, even though you cannot access the money until maturity. Some people open CDs in tax-advantaged retirement accounts (like an IRA) to avoid this annual tax, though there are limits on how much you can contribute to those accounts each year.

Frequently Asked Questions

Can I add money to a Chase CD after I open it?

No. A CD is a fixed contract — you deposit a set amount at the beginning, and that amount stays the same until maturity. You cannot add more money to an existing CD. If you want to invest additional funds, you would need to open a separate CD.

What is the difference between a Chase CD and a Chase savings account?

A CD locks your money in for a set period and pays a fixed interest rate. A savings account lets you withdraw money anytime without penalty, but the interest rate is usually lower and can change. CDs are better if you do not need the money soon; savings accounts are better if you want flexibility.

Can I open a Chase CD if I do not have a checking account?

Yes. You do not need an existing Chase account to open a CD. You will need to provide identification and other information, and you can fund the CD by transfer from another bank or by check. Ask Chase how to proceed when you contact them.

What happens if Chase goes out of business?

Your CD is protected by FDIC insurance up to $250,000. If Chase fails, the FDIC will pay you your principal plus any earned interest up to that limit. This protection applies to each account owner separately, so a joint CD is insured up to $250,000 per owner.

Can I move my Chase CD to another bank before it matures?

You can withdraw the money and move it, but you will pay Chase's early withdrawal penalty. You cannot transfer the CD itself to another bank — you must close it and open a new one elsewhere. The penalty may be large enough that it is not worth moving, depending on how much time is left until maturity.