Can't speak for Chase specifically, but our bank sets its CD (and other savings product) rates based on what the competition is offering. They do a survey of all of the banks that are their main competitors in the region every week, and then use that information when setting new rates on various products. If there is some bank that they consider a significant competitor for new-to-bank funds that is offering a higher rate on a certain length term CD, that could explain why that particular product is higher than others.