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Chase Savings Account Interest Rate: How It Compares

May 10, 2019
Banking, Banks & Credit Unions
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3.5 NerdWallet rating
Chase

at Chase,

Member, FDIC

The Chase Savings℠ account interest rate is 0.01% APY (effective 6/14/19; 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.

Chase interest rate, fees

Interest rate on balances0.01% (effective 6/14/19; rates are variable and subject to change) for Chase SavingsSM.
How it comparesThe average national rate for savings accounts is 0.10% 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 or debit card account or

  • Be under age 18.
  • Minimum opening depositNone.
    Interest on balances for premium savings accountsChase Premier savings relationship rates are between 0.04% and 0.09% APY (effective 3/15/19; 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

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

    How does Chase compare?

    Chase

    Savings℠

    NerdWallet Rating

    at Chase,

    Member, FDIC

    APY

    0.01%

    Monthly Fees

    $5

    Bonus features

    2,000+ branches

    Live help 24/7

    Mobile-friendly

    Goldman Sachs Bank USA

    Online Savings

    NerdWallet Rating

    at Goldman Sachs Bank USA,

    Member, FDIC

    APY

    2.15%

    Monthly Fees

    $0

    Bonus features

    No Monthly Fee

    Competitive APY

    HSBC

    Online Savings Account

    NerdWallet Rating

    at HSBC,

    Member, FDIC

    APY

    2.30%

    Monthly Fees

    $0

    Bonus features

    Competitive APY

    No Monthly Fee

    Not for you? Read more bank reviews

    (The Chase Savings℠ 0.01% APY is effective 6/14/19; 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.

    Savings calculator

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

     

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