Chase Savings Account Interest Rate: How It Compares

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Chase Savings℠
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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 of 0.40% or higher.

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 0.06% APY.

Monthly fees

$5.

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 account, or

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

  • Be under age 18.

Minimum opening deposit

None.

Interest on balances for premium savings accounts

Chase Premier savings relationship rates are between 0.02% and 0.05% APY, 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 with 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.

» Learn more: Read NerdWallet’s Chase review

Axos Bank® logo
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Member FDIC

Axos Bank® High Yield Savings

Axos Bank® logo
APY

0.61%

Min. balance for APY

$0

Discover Bank logo
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Member FDIC

Discover Bank Online Savings

Discover Bank logo
APY

0.40%

Min. balance for APY

$0

Nationwide logo
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on Nationwide's website

Nationwide My Savings

Nationwide logo
APY

0.20%

Min. balance for APY

$0

Varo logo
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Deposits are FDIC Insured

Varo Savings Account

Varo logo
APY

0.20%

Min. balance for APY

$0.01

Chase CDs and other savings options

Chase offers certificates of deposit with many term lengths, from 1 month to 10 years. 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