Chase Business Certificates of Deposit Interest Rates
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Certificate of Deposit FAQs
A Chase Certificate of Deposit, or CD, is a type of federally-insured savings account that has a fixed interest rate and fixed date of withdrawal, known as the maturity date.
The minimum deposit amount to open a Chase Business CD is $1,000.
We use the daily balance method to calculate interest on your CD. This method applies a periodic rate each day to your balance. Interest begins to accrue on the business day of your deposit. Interest for CDs is calculated on a 365-day basis, although some business CDs may calculate interest on a 360-day basis. The Annual Percentage Yield (APY) disclosed on your deposit receipt or on the maturity notice assumes interest will remain on deposit until maturity. On maturities of more than one year, interest will be paid at least annually. Please see the Additional Banking Services and Fees section, "Business CD Accounts," which can be accessed on the Deposit Disclosures and Interest Rates page.
There is a penalty for withdrawing principal prior to the maturity date:
- If the term of the CD is less than 12 months, the early withdrawal penalty is equal to $25 plus 1% of the amount withdrawn
- For terms of 12 months or more, the early withdrawal penalty is equal to $25 plus 3% of the amount withdrawn
- If the withdrawal occurs less than seven days after opening the CD or making another withdrawal of principal, the early withdrawal penalty will be calculated as we described above, but it cannot be less than seven days' interest. We may not permit withdrawals if funds have not been credited to the account
- The amount of your penalty will be deducted from principal
Please see the Additional Banking Services and Fees section, "Business CD Accounts," which can be accessed on the Deposit Disclosures and Interest Rates page.
The maturity date is the last day of your CD’s term. The grace period is the 10 days after the maturity date for CDs with a term of 14 days or longer. On the maturity date or during the grace period, you can change the term of your CD, make additional deposits (for non-retirement CDs only) or withdraw your CD principal without paying an early withdrawal penalty. We'll notify you 15 days prior to the maturity date and would recommend discussing your options with your Chase banker.
Automatically renewable CD: An automatically renewable CD will renew on the maturity date for the same term unless we notify you otherwise, or you change or close the account.
- Once your CD renews, any reference to the maturity date means the last day of the new term.
- For the renewal term, your CD will earn interest for the term and amount at the CD standard rate unless you qualify for the CD relationship rate.
- If your CD is closed during the grace period, it won't earn interest on or after the maturity date.