Spencer Tierney December 7, 2020. Standard CD rates at Chase Bank are available to anyone and require a minimum deposit of $1,000, while some banks' CDs require at least $5,000 or $10,000. Chase offers standard rates and special rates for those customers who also have checking accounts with Chase or who maintain a certain balance. The best time to start saving is now. A certificate of deposit is a type of savings account that guarantees a certain rate of interest. Compare CD rates and select from a variety of available terms and amounts to match your short-term or long-term goals. A KeyBank Certificate of Deposit can help fast track your path to financial wellness. Chase Bank CD relationship rates. Chase Bank's CD relationship annual percentage yields (APYs) are extended to customers who have a linked Chase Bank checking account. You can apply online, and if you use a transfer from your account to fund the CD, the account can be opened the same day. The minimum deposit is, again, $1,000.
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Open a Chase Certificate of Deposit
You must be an existing Chase checking customer to open online.
Certificate of Deposit FAQ
What is a Chase CD?
A certificate of deposit, or CD, is a deposit account with us for a specified period of time.
What is the minimum deposit amount to open a Chase CD?
$1,000
How is the Chase CD interest calculated?
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 Deposit Account Agreement and rate sheet for further details.
Are there early withdrawal fees or penalties associated with a Chase CD?
There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:
- If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- 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 described above, but it cannot be less than seven days' interest.
- The amount of your penalty will be deducted from principal.
See the Deposit Account Agreement and rate sheet for further details
What does it mean when my Chase CD matures?
The maturity date is the last day of your CD's term. The grace period begins the following day and lasts for 10 days – this is when you can make changes to your CD. Go to chase.com/cdmaturity to learn more about what options you have when your CD matures.
Find a Chase ATM or branch
To find a Chase ATM or branch near you, tell us a ZIP code or an address.
Open a Chase Certificate of Deposit
You must be an existing Chase checking customer to open online.
Certificate of Deposit FAQ
What is a Chase CD?
A certificate of deposit, or CD, is a deposit account with us for a specified period of time.
What is the minimum deposit amount to open a Chase CD?
$1,000
How is the Chase CD interest calculated?
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 Deposit Account Agreement and rate sheet for further details.
Are there early withdrawal fees or penalties associated with a Chase CD?
There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:
- If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- 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 described above, but it cannot be less than seven days' interest.
- The amount of your penalty will be deducted from principal.
See the Deposit Account Agreement and rate sheet for further details
What does it mean when my Chase CD matures?
The maturity date is the last day of your CD's term. The grace period begins the following day and lasts for 10 days – this is when you can make changes to your CD. Go to chase.com/cdmaturity to learn more about what options you have when your CD matures.
Find a Chase ATM or branch
To find a Chase ATM or branch near you, tell us a ZIP code or an address.
- Wide range of term options
- Low interest rates
- Current TCF Bank customers who don't want to open accounts at other banks
Open a Chase Certificate of Deposit
You must be an existing Chase checking customer to open online.
Certificate of Deposit FAQ
What is a Chase CD?
A certificate of deposit, or CD, is a deposit account with us for a specified period of time.
What is the minimum deposit amount to open a Chase CD?
$1,000
How is the Chase CD interest calculated?
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 Deposit Account Agreement and rate sheet for further details.
Are there early withdrawal fees or penalties associated with a Chase CD?
There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:
- If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- 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 described above, but it cannot be less than seven days' interest.
- The amount of your penalty will be deducted from principal.
See the Deposit Account Agreement and rate sheet for further details
What does it mean when my Chase CD matures?
The maturity date is the last day of your CD's term. The grace period begins the following day and lasts for 10 days – this is when you can make changes to your CD. Go to chase.com/cdmaturity to learn more about what options you have when your CD matures.
Find a Chase ATM or branch
To find a Chase ATM or branch near you, tell us a ZIP code or an address.
Open a Chase Certificate of Deposit
You must be an existing Chase checking customer to open online.
Certificate of Deposit FAQ
What is a Chase CD?
A certificate of deposit, or CD, is a deposit account with us for a specified period of time.
What is the minimum deposit amount to open a Chase CD?
$1,000
How is the Chase CD interest calculated?
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 Deposit Account Agreement and rate sheet for further details.
Are there early withdrawal fees or penalties associated with a Chase CD?
There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:
- If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
- 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 described above, but it cannot be less than seven days' interest.
- The amount of your penalty will be deducted from principal.
See the Deposit Account Agreement and rate sheet for further details
What does it mean when my Chase CD matures?
The maturity date is the last day of your CD's term. The grace period begins the following day and lasts for 10 days – this is when you can make changes to your CD. Go to chase.com/cdmaturity to learn more about what options you have when your CD matures.
Find a Chase ATM or branch
To find a Chase ATM or branch near you, tell us a ZIP code or an address.
- Wide range of term options
- Low interest rates
- Current TCF Bank customers who don't want to open accounts at other banks
TCF Bank serves seven states and offers a wide range of certificate of deposit (CD) term options. With terms ranging from three months to 10 years, it's sure to appeal to both short- and long-term savers. The minimum deposit of $500 is also lower than many large banks. However, interest rates from TCF Bank do not always compare favorably to some of the best CD rates. You can get a higher rate with a promotional CD, but promotional CDs have their own requirements that may make them too expensive for some people.
Whether or not you open an account with TCF Bank will depend on your individual goals and financial situation. Below we go over everything you need to consider before opening an account.
CD Length | Minimum Deposit | APY: Standard | APY: Relationship Rate | |
3-11 Month | $500 | 0.05% | 0.05% | Compare CDs |
12-13 Month | $500 | 0.10% | 0.10% | Compare CDs |
14-29 Month | $500 | 0.15% | 0.15% | Compare CDs |
30-35 Month | $500 | 0.20% | 0.20% | Compare CDs |
36-47 Month | $500 | 0.30% | 0.30% | Compare CDs |
48-59 Month | $500 | 0.30% | 0.30% | Compare CDs |
60-120 Month | $500 | 0.30% | 0.30% | Compare CDs |
6 Month Promotional CD | $500 | 1.10% | 1.10% | Compare CDs |
15-Month CD Interest Rate Comparison
Overview of TCF Bank CDs
TCF Bank has about 320 branch locations spread across Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota and Wisconsin. In order to open a CD, you will need to visit a local branch.
The CDs from TCF Bank all require a $500 minimum deposit. Terms range in length from three months to 10 years. Interest rates may also be higher for customers who qualify for the relationship rate. The only requirement for getting the relationship rate is to have a checking account with TCF Bank. All CD terms and rates also qualify for use in an individual retirement account (IRA).
Interest compounds daily and when it credits to your account will depend on the length of your CD term. Terms of less than 12 months will only get interest credited at maturity. Interest will credit quarterly to accounts with terms of 12 months or more. The default option is for interest to credit to your account, but you can elect to have your interest go into a TCF Bank savings or checking account. If you choose to move your credit to another account, you have the option to receive interest payments quarterly or monthly.
You may also have the option to receive your interest payments as physical checks. If your account balance is at least $5,000 you qualify for quarterly interest checks. You can receive monthly interest checks if your account balance is at least $10,000.
Even though you can transfer interest payments out of your account, you cannot remove any of the principal before the end of your term. Any principal you withdraw is subject to an early withdrawal penalty. The penalty is generally 1% of the amount withdrawn for each year of the CD's term that remains at the time of withdrawal. You won't pay more than 3% and the penalty will never be less than $25 or seven days' interest.
To withdraw funds without paying a penalty, you will need to wait until your CD reaches maturity. At that point you will receive a seven-day grace period. You can make any changes, withdrawals or additions to your account within that time. Your CD will automatically renew at the end of the grace period as long as you have at least $500 left in your account. The new CD will have the same length as the original with the current available interest rate.
In addition to its standard CDs, TCF Bank may also offer promotional or featured CDs. Promotional and featured CDs offer higher rates than a standard CD of the same term length. The minimum deposits are still $500. Interest rates are the same for all customers. There is no relationship rate. The big caveat with promotional CDs is that they require new money. This is money you do not already have on deposit with TCF Bank.
How Much You Earn With TCF Bank CDs Over Time
Chase Bank Cd Rates 2020
The interest rates from TCF Bank are not very high, and you won't earn much in interest payments. The best way to make sure you earn decent interest is to choose long-term CDs and to deposit as much as you can afford. The relationship rate and promotional CDs will also get you better rates.
What Is The Best Cd Rate At Chase Bank
To illustrate how low the interest rates are, consider that if you only deposit the account minimum ($500) to a six-month CD, you will earn about 25 cents at the end of your term.
The table below shows what your approximate total balance will be based on different initial deposits and term lengths. This table uses the relationship rates listed above.
Initial Deposit | 18-Month CD | 36-Month CD | 60-Month CD |
$500 | $501 | $505 | $510 |
$1,000 | $1,001 | $1,009 | $1,020 |
$2,500 | $2,503 | $2,523 | $2,551 |
$5,000 | $5,005 | $5,045 | $5,101 |
$10,000 | $10,010 | $10,090 | $10,202 |
How TCF Bank CD Rates Compare to Other Banks'
Because TCF Bank has low interest rates, you should definitely compare CD rates from other banks before opening an account. Depending on what your savings goals are, certain banks may offer more appealing rates.
12 Month Cd Rates
For example, customers with short-term goals will like the rates from Ally Bank. Ally's interest rates for terms of one year and less are among the highest on the market. Ally is an entirely online bank, so you won't be able to visit a branch in person. But the tradeoff is higher rates. There is also no minimum deposit on Ally CDs.
If you prefer a bank with physical branches, consider Capital One. Capital One requires no minimum deposit and has competitive interest rates.
If you are primarily interested in TCF Bank's long-term options, you may be interested in brokered CDs. For example, CDs from Edward Jones offer some of the highest rates and have terms of up to 10 years long. The minimum deposit is $1,000 but the higher price tag could be well worth it if you're looking for the highest rates.
CD Account | TCF Bank | Ally Bank | Capital One |
1 Year | 0.10% | 1.50% | 1.50% |
3 Year | 0.30% | 1.55% | 1.40% |
5 Year | 0.30% | 1.60% | 1.40% |
Chase Cd Rates 2020
Compare TCF Bank to Other Competitive Offers
Chase Online
Should You Get a TCF Bank CD Account?
Chase Bank Cd Rates August 2020
You should consider a CD with TCF Bank if you already have a relationship with the bank and you don't want to open an account at any new institution. Otherwise, you should consider other banks. There are better interest rates available whether you are looking for short- or long-term options.