Image by Getty Images; Illustration by Bankrate

Chase offers several savings accounts that pair with a highly regarded mobile banking app to help you achieve your financial goals. These accounts, however, will do very little to boost your savings. Even the rate on the big bank’s top-yielding account is very low, and higher rates can easily be found elsewhere.

Though Chase’s yields don’t impress, the nation’s largest bank routinely offers bonuses to new customers, although the incentives tend to be offered on new checking accounts. One big advantage offered to Chase customers is access to a massive branch and ATM network. In fact, Chase was named the Best Bank for Branch Access as part of the 2024 Bankrate Awards.

Chase earned 3.5 out of 5 stars in Bankrate’s review across its deposit products, while its savings accounts scored 3.0 out of 5 stars.

Chase savings account interest rates

Chase offers two main savings account options: the Chase Savings account and the Chase Premier Savings account.

The premier account pays a slightly higher yield if you’re eligible for the relationship rate. For the relationship rate, you’ll need to link this account with a Chase Premier Plus checking account or a Chase Sapphire checking account. You’ll also need to initiate at least five transactions a month using the linked account.

Both accounts have a monthly service fee — $5 for the standard account and $25 for the premier account — but these fees are waived when you meet certain criteria, such as maintaining a minimum daily balance or setting up automatic transfers.

Chase features tiered rates on its savings accounts, though at the time of this review, the APYs were the same regardless of balance.

Account name Interest rate APY Minimum deposit 
Chase savings 0.01% 0.01% None
Premier relationship 0.02% 0.02% None

Note: Annual percentage yields (APYs) shown are as of March 5, 2024, and may vary by region for some products.

How Chase savings accounts compare to top-yielding banks

Chase offers savings accounts with yields that are next to nothing. Even the payout on its top-yielding account is low and requires a minimum number of transactions and a linked checking account to get the best rate.

The requirements to earn the APY generally aren’t worth that low-dollar reward when there are plenty of alternatives offering higher yields. You could earn a significantly higher yield at many online banks and credit unions such as Capital One and Alliant Credit Union.

Other savings options at Chase

In addition to savings accounts, Chase offers certificates of deposit with a wide variety of terms to assist with building your savings, although you can find much higher rates elsewhere.

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