Chase Bank’s CD rates at the end 2012 were providing even lower yields than they were last year around this time (scroll down to see their current rates).
In fact, to garner returns of over 1 percent on a deposit with Chase Bank you’ll need to lock away your money for an entire decade!
In many respects this is to be excepted as the national average for CD rates has lowered slightly since last year when we last covered Chase’s deposit rates, and CD rates as a whole are currently experiencing record lows across the board.
Chase Bank essentially offers two product lines for deposits. They have “regular CDs” which require a minimum deposit of just $1,000 and “Special CDs” which require a slightly higher deposit of $10,000.
Their “special CDs” really feature nothing that “special” and come with oddball durations such as 13 month – 120 month terms.
If you plan on opening a deposit with Chase you’ll also need to know that you must open a Chase checking account in conjunction with the deposit. Chase Bank is notorious for their checking account fees which range from $6 per month to $25 per month if certain balance requirements aren’t met. However, if you have a linked deposit account valuing at least $25,000 they will waive this fee.
Chase Bank’s CD rate “Specials” 2013
Deposit Term (Months)
Terms and Conditions:
1) Chase doesn’t make their certificate of deposits particularly easy to open. Like we mentioned above, before you can open a deposit you must first acquire a qualifying Chase personal checking account.
2) Keep a close eye on when your deposit matures with Chase. If you dont specify otherwise, Chase will automatically renew your deposit into a non-Special CD account with a lower interest rate.
3) Early withdrawal penalty will apply so make sure you wont need these funds until maturity.
Chase Bank Helpful Links:
Chase Bank Customer Service
See how Chase Bank’s deposit rates compare with the top APYs available nationwide (below).