Certificate Of Deposit

A callable CD is a certificate of deposit that pays a fixed interest rate over its lifetime. What differentiates a callable CD from a traditional CD is that the issuer can redeem, or 'call,' your CD from you for the full amount before it matures. Coin master rare card list. The risk is that the issuer will exercise a call option at an unfavorable time for the holder, such. What is a certificate of deposit? An easy way to save and grow your money, a certificate of deposit (CD) is an FDIC insured promissory note that has a fixed interest rate and fixed date of withdrawal, commonly known as the maturity date.

1. Certificate Of Deposit Rates
2. Certificate Of Deposit Account

What are certificates of deposit?

A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five years, and in exchange, the issuing bank pays interest. When you cash in or redeem your CD, you receive the money you originally invested plus any interest. Certificates of deposit are considered to be one of the safest savings options. A CD bought through a federally insured bank is insured up to $250,000. The $250,000 insurance covers all accounts in your name at the same bank, not each CD or account you have at the bank.

As with all investments, there are benefits and risks associated with CDs. The disclosure statement should outline the interest rate on the CD and say if the rate is fixed or variable. It also should state when the bank pays interest on the CD, for example, monthly or semi-annually, and whether the interest payment will be made by check or by an electronic transfer of funds. The maturity date should be clearly stated, as should any penalties for the 'early withdrawal' of the money in the CD. The risk with CDs is the risk that inflation will grow faster than your money, and lower your real returns over time.

Broker certificates of deposit

Although most CDs are purchased directly from banks, many brokerage firms and independent salespeople also offer CDs. These individuals and entities, known as 'deposit brokers,' can sometimes negotiate a higher rate of interest for a CD by promising to bring a certain amount of deposits to the institution. The deposit broker can then offer these 'brokered CDs' to their customers.

Thoroughly check out the background of the issuer or deposit broker to ensure that the CD is from a reputable institution. Deposit brokers are not licensed or certified, and no state or federal agency approves them. Since anyone can claim to be a deposit broker, always check whether the deposit broker or the company he or she works for has a history of complaints or fraud. Many deposit brokers are affiliated with investment professionals. You can check out their disciplinary history using the SEC's and FINRA's online databases. Your state securities regulator may have additional information. To research the background of deposit brokers who are not affiliated with an investment firm, start by contacting your state's consumer protection office.

Additional information

Certificates of Deposit
Equity-Linked CDs
High-Yield CDs - Protect Your Money By Checking the Fine Print

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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

A certificate of deposit, or CD, is a deposit account with us for a specified period of time.

$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 Deposit Account Agreement and rate sheet for further details.

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

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

A certificate of deposit, or CD, is a deposit account with us for a specified period of time.

$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 Deposit Account Agreement and rate sheet for further details.

There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:

Certificate Of Deposit Rates

• 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

Certificate Of Deposit Account

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.