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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. 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.
How to avoid monthly fees
Minimum opening deposit
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
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.
» Find this month's best savings account rates in NerdWallet's best savings rates