Chase Savings Account Interest Rates: March 2024

Chase Savings Account Rates

Chase Bank, founded over 220 years ago in New York City, is the largest financial institution in the United States, with over 4,700 branches and 16,000 ATMs. The full-service bank offers a wide variety of financial services, including two savings account options, other types of deposit accounts, rewards credit cards, and numerous other financing options.

Chase savings accounts are relatively poor options, with rates lower than the national average, and significantly less than the best high-yield savings accounts. The accounts come with monthly fees as well, unless you qualify to have them waived.

Chase’s savings account rates may vary by location, and the rates listed below may not be available in all ZIP codes. The APYs listed below use NYC ZIP code 10001 and are up to date as of the date of publication of this article. We review savings account rates every two weeks and update the information below accordingly.

Account Name	APY Range	Monthly Fee
Chase Savings	0.01%	$5
Chase Premier Savings	0.01%–0.02%	$25

To earn the higher end of the rate range with the Chase Premier Savings account (the "relationship rate"), you’ll need to link a Chase Premier Plus Checking account or a Chase Sapphire Checking account. From there, you must make a minimum of five eligible transactions per month from your linked checking account to qualify for the higher APY on your savings account.

See the best high-yield savings account rates today before choosing the savings account that is best for you.

Chase Savings Accounts: Key Features

Chase Savings Account Key Features
APY Range	0.01%
Minimum Balance to Earn Highest APY	$0.01
Minimum Deposit	$0
Withdrawal Limit	None
Monthly Service Fee	$5

Chase Premier Savings Account Key Features
APY Range	0.01%–0.02%
Minimum Balance to Earn Highest APY	$0.01
Minimum Deposit	$0
Withdrawal Limit	None
Monthly Service Fee	$25

Although both of Chase Bank’s savings accounts come with monthly maintenance fees, customers have a few different ways to qualify for fee waivers. If you’re interested in opening a savings account with Chase, here’s how to get the bank to waive the cost of your $5 or $25 monthly fee. The monthly fee of the basic Chase Savings Account is waived for any of the following situations:

$300 (or higher) balance at the beginning of each day
$25 in automatic transfers or Autosave from your personal Chase checking account
Link a Chase College Checking account for overdraft protection
Link a Chase Premier Plus Checking, Chase Sapphire Checking, or Chase Private Client Checking account
Accountholder under the age of 18

The monthly fee of the Chase Premier Savings Account is waived for any of the following situations:

$15,000 (or higher) balance at the beginning of each day
Link a Chase Premier Plus Checking or Chase Sapphire Checking account

Although Chase’s savings accounts once came with withdrawal limits, they do not currently have any limits. You can make as many withdrawals as you'd like each month for no charge.

About Chase: Other Savings Options

As the largest bank in the United States, Chase has the capacity to serve many of your financial needs under one roof. Depending on where you live, it’s likely you have access to one of the bank’s 4,700 in-person branches (although some states do have a limited number of locations). Chase provides a network of around 16,000 Chase Bank ATMs that are free to use.

Chase is well-known for its wide array of credit card products, including some of the most popular rewards credit cards on the market. And Chase also offers some decent bank account bonuses for new banking customers who are eligible for the right accounts through the financial institution. ;

This large national bank also has another deposit account solution available for customers who are looking for options to store their cash savings: fixed-rate certificates of deposit (CD)s. Customers can open CDs with a variety of terms at varying interest rates; see Chase’s CD rates for more information.

Compare Savings Account Rates

Chase’s savings account interest rates fall well below the national average. So if you’re looking to grow your savings at a faster pace, you’ll want to look elsewhere for more attractive APYs. (However, some of the bank’s CD rates are typically more competitive, depending on the term.)

As a point of reference, here are the national average interest rates according to the Federal Deposit Insurance Corporation (FDIC) for several different types of deposit accounts as of October 16, 2023.

Savings Accounts: 0.46%
12-Month CD: 1.79%
24-Month CD: 1.50%
36-Month CD: 1.38%
48-Month CD: 1.30%
60-Month CD: 1.38%

In the News: Savings account rates reached higher in 2023 than we’d seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation. For its last four meetings, however, the Fed has held the federal funds rate steady, and signaled on Jan. 31 that the committee’s rate-hike cycle has almost certainly ended. While most Fed members expect two to four rate decreases will occur in 2024, the Fed has cautioned that it could be some time before the first cut is implemented.

Because savings account yields closely follow the fed funds rate, the Fed’s current holding pattern has caused savings rates to plateau, and declines should be expected once it appears the Fed is ready to make its first cut.

Is There a Minimum Balance Requirement for Chase Savings Accounts?

Chase Savings Accounts do not have minimum balance requirements to open a new account. However, if you want to avoid paying the $5 monthly fee (Chase Savings account) or the $25 monthly fee (Chase Premier Savings account), you’ll need to either maintain certain account minimums or satisfy other requirements to qualify for a fee waiver each month.

Many financial institutions charge bank fees to increase profits and help cover operating expenses. However, you can find free savings accounts and free checking accounts that offer fee-free banking services if these are important to you.

Are Chase Savings Accounts FDIC-Insured?

Yes, all Chase Bank deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC). With FDIC insurance, your deposits are protected for up to $250,000 (per ownership category) in the unlikely event of a bank failure.

Does Chase Have a High-Yield Savings Account?

Chase Bank does not currently offer a high-yield savings account option. Although for the most part it’s a full-service bank, it does not offer money market accounts either. To see the top rates on the market today, take a look at the best high-yield savings accounts or the best money market account rates.

How Often Do Chase Savings Accounts Pay Interest?

Chase Bank compounds interest paid to its customers on a monthly basis. The bank credits any interest earned to its customers’ deposit accounts once a month as well.