JP Morgan Chase uses them as sort of variable term financing devices for themselves, so the rate offered depends upon duration and amount of money you’re locking up. The rate is basically zero unless it’s what they want you to do, which right now at least in NY is: 2% for 3mo <10k, 3.5% 3 month 10k-100k, 4% 3 month 100k+, 3% 12 month <10k, 3.25% 12 month 10k to 100k, 3.75% 12 month 100k+.

They go all the way out to 10 years, but they don’t want you doing that and that is around 1%.

Even if you don’t want to buy the product, it’s an interesting portal into what america’s largest bank thinks its short, medium, and long term cash needs look like.

The current setup of rates indicates they think their short term cash needs are greater than their medium term needs, that they’ll still need cash over the medium term, but they think that maybe in 3 months they’ll have less need for short term cash.