Chase Savings Account Interest Rate: How It Compares

Margarette BurnetteAugust 5, 2020

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Chase Chase Savings℠
NerdWallet rating 

at Chase, Member FDIC

The Chase Savings℠ account interest rate is 0.01% APY (effective 9/14/2020; rates are variable and subject to change). Rates for the bank's premium relationship savings accounts are slightly higher, but overall, the annual percentage yields on Chase savings accounts are low. Many online savings accounts, for example, have rates around 1%.

Though APYs are low, Chase offers a $150 bonus for new savings account customers and a $200 bonus for new checking customers (both expire 1/20/2021). Read NerdWallet’s best bank bonuses page to find out how to qualify.

Chase interest rates and fees

Interest rate on balances

0.01% (effective 9/14/2020; rates are variable and subject to change) for Savings℠.

How it compares

The average national rate for savings accounts is 0.05% APY.

Monthly fees


How to avoid monthly fees

  • Link to an eligible Chase checking account, or

  • Maintain minimum daily balance of at least $300, or

  • Set up a monthly automatic transfer of at least $25 from a Chase checking or eligible debit card account, or

  • Link to a Chase College Checking℠ account for overdraft protection, or

  • Be under age 18.

Minimum opening deposit


Interest on balances for premium savings accounts

Chase Premier savings relationship rates are between 0.02% and 0.05% APY (effective 6/12/2020; rates are variable and subject to change), depending on your balance. Must have an eligible linked Chase checking account and make a minimum number of transactions to earn relationship rates. Otherwise, the standard rate for Chase Premier savings is 0.01% APY.

» Check out high-interest rate options with NerdWallet’s best high-yield online savings accounts

How Chase compares to online banks

Large banks, like Chase, with thousands of branches tend to have accounts with higher monthly fees and lower savings rates. If you are looking for accounts that earn high yields, you will find better options at online banks. Along with higher rates, many have accounts with no monthly fees or minimum balance requirements.

Chase does offer a new customer sign-up bonus, however, and that could make up for the low interest rate. Read NerdWallet’s list of best bank bonuses and promotions to find out how to qualify.

» Learn more: Read NerdWallet’s Chase review

Here’s a comparison of Chase savings rates to accounts at top online institutions:

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 


With $0 minimum balance



With $0 minimum balance



With $0 minimum balance



Requirements to qualify





Chase CDs and other savings options

Chase offers certificates of deposit with many term lengths, including 1-year, 3-year and 5-year options. But the CDs have a $1,000 minimum opening deposit and rates are also disappointingly low.

» Dive deeper: Read about NerdWallet’s Chase CD rates and how they compare to others

How much interest could you be earning? Find out with the calculator below. The higher the rate, the faster your money can grow.

Savings calculator

» Find this month's best savings account rates in NerdWallet's best savings rates

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