If you take money out of your First Republic CD before the agreed-upon term is up, you will owe a penalty for early withdrawal. You can withdraw interest at any time without paying an early withdrawal penalty, but withdrawing your interest will reduce your earnings because you will have less money in the CD to compound over time. You can choose to have interest credited to the account monthly, quarterly or semi-annually. Rates are accurate as of December 1, 2023.įirst Republic requires a minimum opening balance of $10,000 for all of its CDs. For the purposes of this article, we’ve used the New York City ZIP Code of 10001. Here’s an overview of First Republic Bank’s CD rates.

A hefty $10,000 minimum deposit was required to open a CD. The bank’s CD rates tended to be lower than the best CD rates from online banks, but higher than those of major national banks. If you’re looking to open a new account, make sure you shop around for the best CD rates.įirst Republic Bank offered a wide variety of certificate of deposit (CD) terms, ranging from 30 days to six years. However, the national bank has stated that over time, it will transition rates to align more closely with Chase CD rates-which tended to be lower than First Republic’s rates. You can still contact your team at First Republic and use the bank’s website to log on to your online account.Ĭhase will continue to honor First Republic CD rates for current fixed-interest accounts. First Republic Bank deposits and branch locations have been transferred to Chase Bank, so First Republic clients can now bank as usual with Chase.

First Republic Bank failed on May 1, 2023, and was sold to JPMorgan Chase Bank in a purchase agreement with the FDIC.

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