December 17, 2023

Chase Savings Account Interest Rate

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Looking to open a savings account with Chase? Check out the current rates being offered.

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.

How important is the interest rate when choosing a savings account?

Does Chase have a high-interest savings account?
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 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

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.

Savings Calculator

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


  • Fees can be waived
  • FDIC insured
  • No opening deposit requirement
  • Option to link to checking account


  • 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.

If you already have a Chase College Checking account, you should consider opening a Chase Savings account for overdraft protection.

What is your primary goal for using a savings account with Chase?

How Chase Compares With Other Banks

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.

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!


Member FDIC

Chase Total Checking® - $300 Bonus

Expires 7/24/2024
  • 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
  • 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
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 9/30/2024
  • 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 9/30/2024.
  • To qualify, open a new eligible 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 eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, 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.
Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% 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

Free Business Checking - Up to 2.0% APY

  • 2.0% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements
  • $0 minimum opening deposit
  • $0 monthly service fee
Banking services provided by Coastal Community Bank, Member FDIC

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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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