March 2026 CD Rate Comparison: Chase, BofA, Citi, and More

The current CD landscape offers solid but not leading returns from the major banks. These rates reflect a market where the highest yields are increasingly found at digital-only institutions, leaving the traditional giants playing catch-up. For a straightforward, low-effort option, these banks provide a stable, familiar platform with competitive APYs for those willing to trade a bit of yield for brand trust.

Chase leads the pack among the majors with its 4.00% jumbo rate for deposits over $100,000 and a 3.50% standard rate for smaller balances. However, its most attractive term is a 3-month CD, with longer durations like the 11-month rate at 2.50% showing a steep decline. Bank of America offers a 3.25% rate for a 7-month term, a figure that sits below the top tier. Citibank provides a 3.50% standard rate and a 3.70% jumbo rate with a lower $500 minimum deposit, making it a strong contender for mid-sized investors.

The bottom line is one of competitive parity, not dominance. While Chase and Citibank offer the highest standard rates at 3.50%, they are matched or exceeded by online players like Capital One and American Express. The major banks are delivering reliable, relationship-driven yields that are solid for risk-averse savers but unlikely to maximize returns in a rising rate environment.

Flow Terms and Minimums

The structural terms of these CDs are the primary drivers of where deposit flows will go. The most direct path is to the institutions with the lowest barriers to entry. Capital One and American Express offer the top 4.00% rates with no minimum deposit. This zero-entry threshold captures the broadest pool of savers, from those with spare change to those building a CD ladder, directing pure yield-seeking capital toward them.

For the major banks, the minimum deposit creates distinct flow vectors. Chase's $1,000 standard minimum and $100,000 jumbo minimum act as a filter, funneling significant capital into its jumbo tier. This structure prioritizes large, committed deposits, which are more stable and less likely to be withdrawn early. It also creates a clear tiered product offering that caters to different investor sizes.

Other majors use minimums and relationship rates to incentivize bundling. Wells Fargo's 3.49% rate requires a $5,000 minimum, a higher hurdle that likely attracts savers already engaged with the bank. Its 3.75% relationship APY is a powerful tool to lock in existing customers, pulling deposits from checking or savings accounts into CDs to boost overall account balances. This relationship flow is a key retention strategy, moving money within the bank's ecosystem rather than attracting new external capital.

The Competitive Landscape

The major banks are consolidating around the 4% APY range, ceding the top tier to smaller institutions. The highest available rate is 4.30% APY from Newtek Bank, with several online banks and credit unions offering rates above 4.10%. This creates a clear flow split: yield-seeking capital is moving away from the majors toward digital-only and specialized players.

This shift is a direct result of the Fed's policy. The central bank's three rate cuts in 2025 have pressured banks to lower rates across the board. The current 4% range for major banks may represent a peak for this cycle, as their cost of funds has declined. In response, institutions like Capital One and American Express have aggressively priced to capture market share, offering 4.00% rates with no minimum deposits.

The flow implications are straightforward. Major banks are now competing on relationship rates and product variety rather than pure yield. Their higher minimums and less competitive rates funnel capital toward the digital players, which act as pure yield magnets. For savers, the choice is clear: accept a slightly lower rate for brand trust and convenience, or chase the top yields with institutions that offer a more transactional, no-frills experience.