1 Year Cd

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A Step Rate CD is a 24-month CD featuring guaranteed interest rate increases and one penalty-free withdrawal every 6 months, provided the minimum opening balance is maintained. Guaranteed rate increases. Guaranteed, automatic rate increases occur at 7, 13, and 19 months. Access to funds. You can make one penalty-free partial withdrawal within. For example, instead of investing all funds into a 3-year CD, the funds are used to invest in 3 different CDs at the same time with terms of 1, 2, and 3 years. As one matures, making principal and earnings available, proceeds can be optionally reinvested into a new CD or withdrawal.

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Open a Chase Certificate of Deposit

You must be an existing Chase checking customer to open online.

Open a CD account See rates and terms to fit your needs

Certificate of Deposit FAQ

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

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$1,000

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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.

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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• If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.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of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.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

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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.

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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.

Open a CD account See rates and terms to fit your needs

Certificate of Deposit FAQ

expand

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

expand

$1,000

expand

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.

expand

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

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• 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

expand

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.

© MoMo Productions/Getty Images Couple using tablet at home

Yields generally aren’t as high as they were almost a year ago, but it’s still possible to find a competitive interest rate. One way to do that is to shop around and look at the yields tied to the share certificates offered by credit unions.

The average 1-year CD yield was 0.20 percent annual percentage yields (APY), according to Bankrate's weekly survey of institutions on Feb. 24, 2021.

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Pros and cons of credit union CDs

Brick-and-mortar banks can be pretty stingy when it comes to paying out interest to customers with savings accounts. In many cases, their CD rates aren't impressive either.

Credit unions are member-owned institutions. That means they're always looking out for their customers. It's not hard to find a credit union offering competitive rates tied to CDs (or, as credit unions often call them, “share certificates”).

The drawback? You may not have access to a credit union share certificate if you cannot qualify for membership. While there are many credit unions that are easy to join, there are still institutions that have restrictions based on where you live or work, or the group you’re affiliated with.

Even if you can become a credit union member and apply for a share certificate, you may forget about this account if you have multiple accounts at different banks or you have no other ties to the credit union. If you’re not careful, your CD could automatically renew, forcing you to keep money locked up for a longer period of time than anticipated. That could cause problems if you need money you’ve saved to cover an emergency or make an important purchase.

Here are some credit unions offering today’s best widely available 1-year CD rates.

Best 1-year credit union CD rates - February 2021

• Delta Community Credit Union: 0.80% APY, $1,000 minimum deposit
• Navy Federal Credit Union: 0.55% APY, $1,000 minimum deposit
• Golden 1 Credit Union: 0.50% APY, $500 minimum deposit
• Alliant Credit Union: 0.50% APY, $1,000 minimum deposit
• SchoolsFirst Federal Credit Union: 0.50% APY, $20,000 minimum deposit for this APY
• Bethpage Federal Credit Union: 0.45% APY, $50 minimum deposit
• VyStar Credit Union: 0.45% APY, $500 minimum deposit
• Pentagon Federal Credit Union: 0.45% APY, $1,000 minimum deposit
• Randolph-Brooks Federal Credit Union: 0.45% APY, $1,000 minimum deposit

Note: The APYs (Annual Percentage Yields) shown are as of Feb. 26, 2021. Bankrate's editorial team updates this information regularly, typically biweekly. APYs may have changed since they were last updated.

Delta Community Credit Union: 0.80% APY, $1,000 minimum deposit

Delta Community Credit Union began as the Delta Employees Credit Union in 1940. It was started by eight Delta Air Lines employees. Delta Community Credit Union has more than 430,000 members and has 29 branches in metro Atlanta and three branches outside of Georgia.

• What it pays: 0.80 percent APY
• Membership restrictions: Anyone living or working in metro Atlanta and employees of more than 150 businesses are welcome at Delta Community Credit Union. Delta Air Lines, Chick-fil-A and UPS are some of the eligible businesses.
• Minimum deposit: $1,000
• Early withdrawal penalty: 90 days of interest

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Navy Federal Credit Union: 0.55% APY, $1,000 minimum deposit

Navy Federal Credit Union has more than 9 million members and is the world's largest credit union. It has a global network of 340 branches. Navy Federal Credit Union has its headquarters in Vienna, Virginia.

In addition to CDs, Navy Federal Credit Union also offers checking and savings accounts, loans and credit cards.

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• What it pays: 0.55 percent APY
• Membership restrictions: Membership at Navy Federal Credit Union is open to all Department of Defense and Coast Guard Active Duty, civilian, contract personnel, veterans and their families.
• Minimum deposit: $1,000
• Early withdrawal penalty: The lesser of all dividends for 90 days on the amount that you withdraw or all of the dividends withdrawn since the certificate was issued or renewed.

Golden 1 Credit Union: 0.50% APY, $500 minimum deposit

Golden 1 Credit Union has been around since 1933. It has 1 million members and more than 70 branches in California.

• What it pays: 0.50 percent APY
• Membership restrictions: You must live or work in California and open a savings account at Golden 1 Credit Union with at least $1.
• Minimum deposit: $500
• Early withdrawal penalty: CD terms of one year through 23 months will incur a 180-day early withdrawal penalty. A CD with a term of two years or longer has an early withdrawal penalty of 365 days of dividends. A CD with a term between three months and 11 months has an early withdrawal penalty of 90 days of dividends.

Alliant Credit Union: 0.50% APY, $1,000 minimum deposit

In 1935, what's now Alliant Credit Union was founded as the United Airlines Employees' Credit Union. Alliant currently has more than 500,000 members nationwide.

Alliant offers competitive APYs with low minimum balance requirements for CDs. Alliant also has traditional individual retirement account (IRA) CDs, Roth IRA CDs and SEP IRA CDs.

• What it pays: 0.50 percent APY
• Membership restrictions: Current employees or those who are retired from a business that partners with Alliant Credit Union may be eligible to join the credit union. You may also be able to join by belonging to an organization that Alliant Credit Union partners with. You can also qualify to join Alliant Credit Union if you live or are employed in a community near its Chicago headquarters. If those circumstances don't apply to you, you can make a one-time $5 payment and Alliant Credit Union will donate that money to Foster Care to Success so you can become an Alliant Credit Union member.
• Minimum deposit: $1,000
• Early withdrawal penalty: Dividends on the number of days the CD is open, up to 90 days.

SchoolsFirst Federal Credit Union: 0.50% APY, $20,000 minimum deposit for this APY

SchoolsFirst Federal Credit Union was formed during the Great Depression in 1934. Created by school employees, the credit union has 50 branches. SchoolsFirst FCU has low minimum balances and CD terms from 30 days to five years. The more money you put in your CD, the higher the APY. CDs at this credit union have four balance tiers: $500, $20,000, $50,000 or $100,000.

• What it pays: 0.50 percent APY
• Membership restrictions: SchoolsFirst FCU serves the California educational community. Certain school employees, certain retired school employees and immediate family members of existing SchoolsFirst FCU members may be able to join.
• Minimum deposit: $20,000 for this APY
• Early withdrawal penalty: 90 days of dividends.

Bethpage Federal Credit Union: 0.45% APY, $50 minimum deposit

Bethpage Federal Credit Union is one of the largest credit unions in the United States, with over 300,000 members. It opened in 1941 for Grumman employees. Anyone who opens a $5 savings account can become a member.

Bethpage offers nine terms of CDs, ranging from three months to five years, and one 39-month Bump-Up CD.

• What it pays: 0.45 percent APY
• Membership restrictions: Bethpage FCU membership is open to anyone who opens a savings account with $5.
• Minimum deposit: $50
• Early withdrawal penalty: On a one-year CD, 90 days of interest; on longer-term CDs, 180 days of interest.

VyStar Credit Union: 0.45% APY, $500 minimum deposit

Headquartered in Jacksonville, Florida, VyStar Credit Union (formerly Jax Navy Federal CU) has more than 735,000 members and is one of the largest financial institutions in northeast Florida.

VyStar offers share certificates ranging from three months to five years, with a $500 minimum deposit to open. It also offers an 18-month step-up certificate that lets you deposit more money and “step up” your rate.

• What it pays: 0.45 percent APY
• Membership restrictions: VyStar membership is people who live or work in 49 Florida counties and 10 Georgia counties.
• Minimum deposit: $500
• Early withdrawal penalty: 180 days of dividends

Pentagon Federal Credit Union: 0.45% APY, $1,000 minimum deposit

Pentagon Federal Credit Union (PenFed) was established in 1935. It has more than 2 million members and has its main office in McLean, Virginia.

PenFed has nine terms of CDs. They range from a six-month CD to a seven-year CD.

• What it pays: 0.45 percent APY
• Membership restrictions: Everyone is eligible to apply for PenFed membership. All that is needed is to open and maintain a savings account with at least $5 in it. Some products may require military affiliation to receive certain benefits of the product.
• Minimum deposit: $1,000
• Early withdrawal penalty: The last 365 days of dividends earned when you make a withdrawal within 365 days from the date the CD was opened.

Randolph-Brooks Federal Credit Union: 0.45% APY, $1,000 minimum deposit

Randolph-Brooks Federal Credit Union has more than 55 branches. It has at least one location in the Texas cities of Austin, Corpus Christi and San Antonio.

Randolph-Brooks Federal Credit Union was established in 1952 and has its headquarters in Live Oak, Texas.

Besides its CDs, the institution offers a Really Free Checking account that doesn't require a minimum balance or charge a monthly fee.

• What it pays: 0.45 percent APY
• Membership restrictions: Where you live, attend school, work or worship are some of the more than 3,500 ways to become a member at Randolph-Brooks Federal Credit Union.
• Minimum deposit: $1,000
• Early withdrawal penalty: 60 days of interest
• What it pays: 0.45 percent APY
• Membership restrictions: Bethpage FCU membership is open to anyone who opens a savings account with $5
• Minimum deposit: $50
• Early withdrawal penalty: On a one-year CD, 90 days of interest; on longer-term CDs, 180 days of interest.

Read the fine print

Before signing up for any bank account, it's important to understand the terms and conditions. With share certificates - and CDs across the board - there's typically a penalty for early withdrawal. By pulling money out of your share certificate (or CD) before it matures, you'll likely forfeit some of the interest you've earned. Consequences for early withdrawals vary from one credit union to the next and sometimes vary within a single credit union for share certificates with different term lengths.

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As long as the credit union you've chosen is federally insured by the National Credit Union Administration Share Insurance Fund, the money you've deposited in your share certificate will be safe. In the event that the credit union shuts down, you'll still walk away with your savings. Just keep in mind that there's a $250,000 threshold for single ownership accounts. Larger amounts won't be automatically insured.

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Recap: Best 1-year credit union CD rates - February 2021

Institution	APY	Minimum deposit for APY
Delta Community Credit Union	0.80%	$1,000
Navy Federal Credit Union	0.55%	$1,000
Golden 1 Credit Union	0.50%	$500
Alliant Credit Union	0.50%	$1,000
SchoolsFirst Federal Credit Union	0.50%	$20,000
Bethpage Federal Credit Union	0.45%	$50
VyStar Credit Union	0.45%	$500
Pentagon Federal Credit Union	0.45%	$1,000
Randolph-Brooks Federal Credit Union	0.45%	$1,000

Learn more about other CD terms: