Chase Savings Account Interest Rate: How It Compares

GettyImages_670727844_Story.jpg

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Chase Savings℠
NerdWallet rating 
Read review

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. Though APYs are low, Chase offers a $225 bonus (expires 10/18/21; 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 0.06% 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

Alliant Credit Union logo
Learn More

Federally insured by the NCUA

Alliant Credit Union High-Rate Savings

Alliant Credit Union logo
APY

0.55%

Min. balance for APY

$100

Discover Bank logo
Learn More

Member FDIC

Discover Bank Online Savings

Discover Bank logo
APY

0.40%

Min. balance for APY

$0

Comenity Direct logo
Learn More

Member FDIC

Comenity Direct High Yield Savings Account

Comenity Direct logo
APY

0.55%

Min. balance for APY

$0

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

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.