First Republic Bank CD Rates: What To Know Before Opening an Account
Written by
Sarah Sharkey
Edited by
Melanie Grafil
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You may have heard news about First Republic Bank closing in 2023. When the bank failed, JPMorgan Chase purchased it. Currently, customers can access deposit products, like CDs, through Chase’s website.
Current First Republic Bank CD Rates
As of May 25, 2024, all First Republic Bank deposit accounts have been moved to JPMorgan Chase’s platforms.
These were the First Republic Bank CD rates before the transition. Note that the rates offered varied by location. The CD rates included in the chart below are based on the Florida region.
| Term | APY | Minimum Deposit |
|---|---|---|
| All liquid CD terms | $10,000 | |
| 30 days | $10,000 | |
| 60 days, Special | $10,000 | |
| 3 months | $10,000 | |
| 6 months | $10,000 | |
| 9 months, Special | $10,000 | |
| 12 months | $10,000 | |
| 18 months | $10,000 | |
| 2 years | $10,000 | |
| 3 years | $10,000 | |
| 4 years | $10,000 | |
| 5 years | $10,000 | |
| 6 years | $10,000 |
Good To Know
Chase now manages all former First Republic Bank CDs. For current options and rates, check out Chase CD rates.
First Republic Bank CD Details
When selecting the right CD for your situation, it’s key to read the fine print. These were details on First Republic Bank CDs:
- Minimum opening deposit: You’ll need to deposit at least $10,000 to open a CD with this financial institution.
- Compounding schedule: Daily
- Early withdrawal penalties: Terms up to one year will face a penalty of 180 days of interest. Terms of more than one year will face a penalty of 450 days of interest.
- Grace period: After the CD matures, First Republic Bank will automatically roll your funds into a new CD. But you’ll have 10 days to make a penalty-free withdrawal of the funds.
Pros and Cons of First Republic Bank CDs
Even though First Republic Bank CDs are no longer offered, here’s a look at the advantages and disadvantages they featured before the transition to Chase.
Pros
- Range of CD term options
- Daily interest compounding
- FDIC insured
Cons
- High minimum deposit
- Uncompetitive rates compared to top online banks
How Much Can You Earn With a First Republic Bank CD?
The amount you can earn varies based on the CD term you choose, the APY you snag and the amount of money you lock into the CD. Here are a few examples:
| Term Length | APY | $10,000 Deposit Earnings | $25,000 Deposit Earnings | $75,000 Deposit Earnings |
|---|---|---|---|---|
| 3 months | $49.63 | $124.07 | $372.22 | |
| 6 months | $148.89 | $372.23 | $1,116.69 | |
| 1 year | $200 | $500 | $1,500 | |
| 5 years | $1,314.08 | $3,285.21 | $9,855.62 |
How To Open a First Republic Bank CD
Effective May 25, First Republic Bank deposit accounts have transitioned to JPMorgan Chase. Beginning May 28, people looking to open an account can visit a Chase bank location to inquire further.
If you already had an account with First Republic Bank, be aware that online banking on the First Republic Bank site is officially dissolved and all online banking operations will take place on Chase’s digital platforms.
You can find an instructional video on how to complete transitioning your First Republic account into the Chase System through First Republic’s website, on the FAQ’s page. You can also find instructions on Chase’s website.
First Republic Bank CD Rates vs. Other Banks
While First Republic Bank previously offered a variety of CD terms, online banks generally provide more competitive rates. Here’s a quick comparison based on what First Republic offered before May 2024.
| Bank | 1-Year CD Rate | 3-Year CD Rate | Minimum Deposit |
|---|---|---|---|
| First Republic Bank | $10,000 | ||
| Ally Bank | $0 | ||
| Synchrony Bank | $0 | ||
| Marcus by Goldman Sachs | $500 |
If you want to lock in a high CD rate for your savings, check out GOBankingRates’ list of top CD options today. You might be surprised by how much you can earn on your savings.
Takeaway
First Republic Bank no longer offers CDs, as all accounts have moved to Chase. If you’re considering a new CD, compare current rates at other banks to find the best return for your savings.
First Republic Bank CDs: FAQ
Here are the answers to some frequently asked questions about First Republic Bank CD rates and features.- What is the minimum deposit for a First Republic Bank CD?
- You would need $10,000 to open a First Republic Bank CD.
- Do I need a First Republic Bank account to open a CD?
- Yes, and all accounts are now managed through JPMorgan Chase following the bank’s transition.
- Can I open a CD online?
- No. As of May 25, 2024, CDs must be opened through Chase and not through the First Republic website.
- What happens if I withdraw before the term ends?
- You will face an early withdrawal penalty.
- Are First Republic Bank CD rates competitive in 2025?
- While some rates are comparable to traditional banks, online banks tend to offer higher APYs.
Sarah Sharkey and River Jean-Noel contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Aug. 13, 2025.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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