How to Open a Certificate of Deposit at Chase Bank

Opening a CD at Chase requires you to visit a branch, call their phone line, or use their website, depending on which type of CD you want and how much you're depositing

A certificate of deposit (CD) is a savings account where you agree to leave money untouched for a set period — usually three months to five years — in exchange for a fixed interest rate. Chase offers several CD types: regular CDs through their standard savings products, high-yield CDs through their online division, and CDs tied to market performance. The path you take depends on which product fits your situation and how much you want to deposit.

Chase does not require a minimum deposit to open most CDs, though some products have thresholds. You'll need a valid ID, Social Security number, and an initial deposit amount. If you already have a Chase checking or savings account, opening a CD is faster because Chase already has your information on file.

Key Takeaways

• Chase CDs can be opened in person at a branch, by phone at 1-800-935-9935, or online through Chase.com, depending on the CD product.
• Interest rates and terms vary by CD type — standard CDs, high-yield CDs, and market-linked CDs each have different rates and lock-in periods.
• You will need a government-issued ID, your Social Security number, and an opening deposit, which varies by product.
• Once your CD matures, you have a grace period (usually 10 days) to withdraw money or roll it into a new CD before Chase automatically renews it.
• Early withdrawal from a CD before maturity triggers a penalty that reduces your earnings, and the amount depends on the CD term.

Chase CD products and their interest rates

Chase offers three main CD categories. Standard CDs are available through Chase branches and online, with terms ranging from three months to five years. High-yield CDs are offered through Chase Bank USA, N.A., a separate online division, and typically carry higher rates than standard CDs because they have lower overhead costs. Market-linked CDs tie your return to stock market performance and are available in branches only.

Interest rates change weekly and depend on the CD term you choose. A three-month CD will have a lower rate than a five-year CD because your money is locked up for less time. Chase publishes current rates on their website under the CD section, and rates differ between standard and high-yield products. You cannot compare rates across all three types in one place on Chase.com — you may need to check each section separately or call 1-800-935-9935 to hear all options.

The rate you receive is locked in when you open the CD and does not change, even if Chase's rates rise or fall during your term. This means the interest you earn is predictable, but you also cannot benefit if rates increase before your CD matures.

Opening a CD in person at a Chase branch

Visit any Chase branch with your government-issued ID, Social Security number, and the amount you want to deposit. A banker will ask which CD term you want (three months, six months, one year, two years, three years, or five years), confirm your personal information, and set up the account. The process usually takes 10 to 15 minutes if you already have a Chase account, or 20 to 30 minutes if you're opening your first account with Chase.

Bring a debit card or checkbook so the banker can verify your identity and link the CD to an existing Chase account for the opening deposit. If you don't have a Chase account yet, you'll open a checking or savings account at the same time, which adds time to the appointment. Some branches are busier than others — calling ahead to ask about wait times can help you plan.

In-person CDs are standard products, not high-yield CDs. If you want a high-yield CD, you must open it online or by phone.

Opening a CD online or by phone

To open a CD online, go to Chase.com, sign in to your account, and navigate to the CD section under Savings. You'll select your term, enter your opening deposit amount, and confirm the transaction. The entire process takes five to ten minutes. If you don't have a Chase account yet, you can still open a CD online, but you'll need to create a login first, which requires your Social Security number and a valid ID.

To open a CD by phone, call 1-800-935-9935 and ask for the CD department. A representative will walk you through the same questions a banker would ask in person: your term preference, opening deposit amount, and personal information. Phone appointments are useful if you want to compare rates across all three CD types before deciding, since the representative can quote you on standard, high-yield, and market-linked options in one call.

Online and phone CDs are funded from an existing Chase account or by check mailed to Chase. If you're opening your first Chase account and want a CD, you'll need to fund a checking or savings account first, then transfer money into the CD. This adds one to two business days to the process.

What happens when your CD matures

When your CD reaches its maturity date, Chase enters a grace period, usually 10 calendar days, during which you can withdraw your money without penalty. If you do nothing during the grace period, Chase automatically renews your CD into a new term at the current rate for the same length as your original CD. For example, a two-year CD that matures will automatically roll into a new two-year CD.

You can check your CD maturity date by logging into Chase.com or calling 1-800-935-9935. Set a calendar reminder a week before maturity so you have time to decide whether to withdraw, renew, or move the money elsewhere. If you miss the grace period and Chase has already renewed your CD, you can still withdraw during the first 10 days of the new term without penalty — after that, early withdrawal fees explore.

Early withdrawal penalties and exceptions

If you withdraw money from your CD before the maturity date, Chase charges an early withdrawal penalty that reduces the interest you've earned. The penalty amount depends on your CD term: shorter-term CDs (three to six months) typically have smaller penalties, while longer-term CDs (three to five years) have larger penalties. Chase publishes the exact penalty for each term on their CD disclosure documents, which you receive when you open the account.

For example, a five-year CD might have a penalty equal to 150 days of interest, while a one-year CD might have a penalty of 30 days of interest. This means if you withdraw early from a five-year CD, you lose more of your earnings than you would from a one-year CD. The penalty is deducted from your interest, not from your principal deposit — you always get your original money back.

Chase does not waive early withdrawal penalties for hardship situations. If you need access to your money before maturity, a CD is not the right product for you — a regular savings account or money market account offers lower rates but lets you withdraw anytime without penalty.

Frequently Asked Questions

Can I open a Chase CD if I don't have a Chase checking account?

Yes, but you'll need to open a checking or savings account first to fund the CD. You can do this online, by phone, or in person. Once your account is open, you can transfer money into a CD. The entire process takes one to two business days online.

What's the difference between a Chase standard CD and a high-yield CD?

High-yield CDs typically offer higher interest rates because they're offered through Chase Bank USA, N.A., an online division with lower costs. Standard CDs are available in branches and online through the main Chase Bank. Both are FDIC-insured up to $250,000, but rates differ. Check both on Chase.com to compare current rates for your chosen term.

Can I add money to my CD after I open it?

No. CDs are fixed-term products where you deposit a set amount at the start. You cannot add money during the term. If you want to deposit more, you must open a separate CD or use a savings account instead.

What happens if I need my money before the CD matures?

You can withdraw it, but Chase will charge an early withdrawal penalty that reduces your interest earnings. The penalty amount depends on your CD term and is outlined in your CD disclosure document. You always receive your original deposit back, even after the penalty.

How is CD interest taxed?

CD interest is taxed as ordinary income in the year it's earned. Chase sends you a 1099-INT form by January 31 each year showing the interest you earned. Interest accrues daily but is paid at maturity, so you'll report the full amount on your tax return for the year your CD matures, not the year you opened it.