Chase Savings Account Interest Rate
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Looking to open a savings account with Chase? Check out the current rates being offered.
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Chase, one of the largest banks in the U.S., has two main savings account options. Both come with interest rates that allow users to slightly increase their funds.
However, don't expect the rates to be on par with what high-yield accounts offer. Read on to find out more.
Chase Savings℠
- 0.01% APY on all balances
- Monthly Service Fee of $5 can be waived in multiple ways, including having a balance of $300 or more at the beginning of each day.
Rate is for zip code 91107, and may vary per location. The information for Chase Savings℠ has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Chase Premier Savings℠ (Standard Rates)
- 0.01% APY on all balances on Premier Standard Rates
- Monthly service fee of $25 can be waived with a balance of $15,000 or more at the beginning of each day or if account is linked to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking.
Rate is for zip code 91107, and may vary per location. The information for Chase Premier Savings℠ has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Chase Premier Savings℠ (Relationship Rates)
- 0.02% APY on all balances on Premier Relationship Rates
- Monthly service fee of $25 can be waived with a balance of $15,000 or more at the beginning of each day or if account is linked to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking.
Rate is for zip code 91107, and may vary per location. The information for Chase Premier Savings℠ has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Currently, Chase does not offer a high-yield savings account. It only has 2 basic savings accounts with very low rates.
Chase Savings Account Interest Rates
Chase has two main savings accounts: Chase Savings and Chase Premier Savings. Both offer a standard 0.01% APY but you can get 0.02% APY with Chase Premier Relationship.
- Chase Savings: $5 monthly service fee waived with either a $300 daily balance OR $25 automatic transfer every month from a linked Chase checking account, OR a linked Chase College Checking for Overdraft Protection, OR a linked qualifying Chase checking account, OR for owners under 18. $0 to open.
- Chase Premier Savings: Earn a higher interest rate when you have a bigger balance and meet certain relationship requirements when linked with a Chase Premier Plus Checking or Sapphire Checking account.
Now, let's take a closer look at the two accounts.
Chase Savings Account
Chase Savings offers a 0.01% APY with no opening deposit required. It also has a $5 monthly service fee that can be waived if you meet any of the following:[1]
- Are under 18 years old
- Have a daily balance of $300+ in your Chase Savings account
- Have a total of $25+ in Autosave from your personal Chase checking account
- Link your Chase College Checking account for Overdraft Protection
- Link your Chase Premier Plus Checking, Chase Sapphire Checking, or Chase Private Client Checking account
Chase Savings℠
Chase Premier Savings Account
Chase Premier Savings also comes with a standard 0.01% APY. It requires no initial deposit but has a monthly service charge of $25.
This fee can be waived if you satisfy any of the two per month: maintain a daily balance of $15,000 or link your account to a Chase Premier Plus Checking or Chase Sapphire Checking account.[2]
Additionally, account holders can earn a higher rate at 0.02% APY with Chase Premier Relationship.[3]
To qualify, you simply need to do the following:
- Link your account to a Chase Premier Plus Checking or Chase Sapphire Checking account; and
- Make 5 transactions using your linked Chase checking account per monthly statement period
Chase Premier Savings℠ (Standard Rates)
Chase Premier Savings℠ (Relationship Rates)
How Much Can You Earn in a Chase Savings Account?
Here is a calculator you can use to see how much your money can grow with a Chase Savings Account.
Can You Lose Money with Chase Savings Accounts?
You can't really lose money with either of the savings accounts offered by Chase. They are an FDIC member which means your deposits are insured up to $250,000.
However, note that the monthly service fee can still reduce your balance.
Pros and Cons
Pros
- Fees can be waived
- FDIC insured
- No opening deposit requirement
- Option to link to checking account
Cons
- Low interest rates
- Monthly service fee of $5 or $25
- Interest is compounded and credited monthly
Should You Open a Chase Savings Account?
If you want a secure place to keep your money, a savings account with a traditional bank like Chase is a good choice. They have physical branches and ATMs nationwide, which can be reassuring.
But if you're looking for higher rates, consider online banks with high-yield savings accounts. They often offer better rates, even though most don't have physical locations.
How Chase Compares With Other Banks
High-Yield Savings Premier - 5.36% APY
- No account activity or maintenance fees
- $500 minimum opening deposit
- FDIC insured
CIT Bank Platinum Savings - 5.05% APY
- 5.05% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
UFB Secure Savings - Earn up to 5.25% APY
- Earn up to 5.25% APY*
- No monthly maintenance fees
- No minimum deposit required to open an account
- Access your funds 24/7 with easy-to-use digital banking tools
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
High Yield Savings Account - 5.24% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- Deposits are FDIC insured through Third Coast Bank SSB
Other Chase Savings Products
Chase also has a Certificate of Deposit account with guaranteed rates and flexible terms.
Chase CDs
Chase offers two kinds of CD rates: standard and relationship. They are both subject to a minimum opening deposit of $1,000.[4]
The standard rates are for everyone who wants to open a CD account with Chase. The rates aren't very attractive, unfortunately.
But there are some decent relationship rates available. However, those are only for folks with a Chase personal checking account that they can link to their CD.
Chase: Certificate of Deposit (Standard Rates)
- 0.01% APY on all terms
- Terms available are 1 to 120 months
- $1,000 minimum opening deposit
The information for the Certificate of Deposit account has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Chase: Certificate of Deposit (Relationship Rates)
| Featured Terms | APY |
|---|---|
| 2 Months | 4.50% |
| 6 Months | 3.00% |
| 9 Months | 4.25% |
Rates are for zip code 91107, and may vary per location. Rates are for balances below $10,000. The information for the Certificate of Deposit account has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Chase: Certificate of Deposit (Relationship Rates)
| Terms | APY |
|---|---|
| 1 Month | 0.02% |
| 2 Months | 4.50% |
| 3 Months | 2.00% |
| 6 Months | 3.00% |
| 9 Months | 4.25% |
| 12 Months | 2.00% |
| 15 Months | 2.50% |
| 18 Months | 2.50% |
| 21 Months | 2.50% |
| 24 Months | 2.50% |
| 30 Months | 2.50% |
| 36 Months | 2.50% |
| 42 Months | 2.50% |
| 48 Months | 2.50% |
| 60 Months | 2.50% |
| 84 Months | 2.50% |
| 120 Months | 2.50% |
Rates are for zip code 91107, and may vary per location. Rates are for balances below $10,000. The information for the Certificate of Deposit account has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
Bottom Line
Compared to high-yield savings options, Chase Savings and Chase Premier Savings don't allow you to earn a competitive interest rate. Both accounts also have monthly charges, which may not be ideal for many.
But, if you simply want to store your money with a renowned bank, opening a savings account with Chase is a practical choice!
Chase Total Checking® + Chase Savings℠ - $900 Bonus
Chase Savings℠ - $200 Bonus
Chase Premier Savings℠ (Relationship Rates)
Chase Premier Savings℠ (Standard Rates)
Chase Savings℠
References
- ^ Chase. Chase Savings Account Fees, Retrieved 11/17/2023
- ^ Chase. Chase Premier Savings Account Fees, Retrieved 11/17/2023
- ^ Chase. Chase Premier Savings Interest Rates, Retrieved 11/17/2023
- ^ Chase. Certificate of Deposit FAQ: What is the minimum deposit amount to open a Chase CD?, Retrieved 11/17/2023
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Access to more than 15,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America Advantage Banking - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 5/31/2024.
- To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
- Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- Bank of America, N.A. Member FDIC.
U.S. Bank Smartly® Checking and Standard Savings - Up to $700 Bonus
Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
Earn up to $200 with a new Standard Savings account.
- Make new money deposit(s) totaling $15,000 or more by July 17, 2024
- Maintain that balance until October 31, 2024
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
Personal Checking Account - $200 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $500 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Write to Darlene Santos at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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