The Chase Savings℠ account interest rate is 0.01% APY (effective 12/20/19; rates are variable and subject to change). Rates for 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 north of 2%.
Though APYs are low, Chase offers a $150 bonus for new savings account customers and a combined $350 bonus for new checking and savings customers. Read NerdWallet’s best bank bonuses page to find out how to qualify.
» Skip ahead to see how Chase compares with two other banks.
Chase interest rate, fees
|Interest rate on balances||0.01% (effective 12/20/19; rates are variable and subject to change) for Chase SavingsSM.|
|How it compares||The average national rate for savings accounts is 0.09% APY.|
|How to avoid monthly fees|
|Minimum opening deposit||None.|
|Interest on balances for premium savings accounts||Chase Premier savings relationship rates are between 0.04% and 0.09% APY (effective 12/20/19; 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 rates for savings. If you’re 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
(The Chase Savings℠ 0.01% APY is effective 12/20/19; rates are variable and subject to change.)
» 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