Chase Savings Account Rates (April 2024) (2024)

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Your interest rate refers to the percentage your account balance earns over time. The APY reflects how much you earn on both your balance and the interest that accrues in a year. The higher your interest rate and APY, the more you’ll be able to save over time.

Chase offers slightly different rates depending on the type of savings account you have and whether you link it to one of these other Chase bank accounts:

• Chase Premier Plus checking or Chase Sapphire checking (also requires you to initiate at least five checking transactions per statement period)
• Chase Private Client checking

If you link one of these checking accounts to a Premier or Private Client savings account, you qualify for what Chase calls “relationship rates,” which are higher.

Chase credits interest to your account monthly based on your daily balance. These rates are variable, so they’re subject to change at any time.

Chase Savings Rates vs. Other Top Banks

Before picking a bank for your savings account, use our savings account calculator to compare different APYs and term lengths.

To avoid monthly service fees ($5 for Chase savings or $25 for Premier savings), you’ll need to meet certain requirements.

Chase Savings Account Requirements

You must meet one of the following requirements:

• Have a daily balance of at least $300
• Have at least $25 in repeating automatic transfers from a personal Chase checking account
• Have a Chase college checking account linked for overdraft protection
• Be an individual account owner under 18
• Have a linked Chase Premier Plus, Sapphire or Private Client checking account

Chase Premier Savings Requirements

You must have a daily balance of at least $15,000 or a linked Chase Premier Plus or Sapphire checking account.

The process to open a Chase savings account is simple and easy. You can complete a quick application online or visit a branch to open an individual account. To open a joint account, you’ll need to make an appointment to visit a branch.

If you already have a credit card, checking account or investment account with Chase, the online application process is even smoother because you already have login information and Chase has a record of your personal information.

Brand-new customers will answer a few questions and provide the following information:

• Full name
• Citizenship information
• Date of birth
• Social Security number
• Driver’s license or state ID number
• Address
• Email address
• Phone number

From there, you select the account you want and set your preferences.

Generally, a Chase savings account may work well for you if:

• You’re already a Chase customer: Chase rewards those who already have one of the bank’s checking accounts with higher savings and CD rates.
• You prefer in-person banking options: Chase has more than 4,700 branches in the Lower 48 states and Washington, D.C.
• You want to manage your finances in one place: Chase’s other products include checking accounts, credit cards and investment help.

Chase doesn’t offer high-yield savings accounts, but if in-person banking is a priority for you, it could be a good option. Plus, if you’re already a Chase checking account customer, you’ll earn a slightly higher interest rate on your savings account.

*Data accurate at time of publication

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someoneyou trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.