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The interest rate on the Chase Savings Account is 0.01% APY (effective 09/14/2020; prices are variable and subject to change). The bank’s senior relationship savings account rates are slightly higher, but overall, the annual percentage returns on Chase savings accounts are low. Many online savings accounts, for example, have rates of 0.40% or more. Although APYs are low, Chase is offering a bonus of $ 225 (expires 10/18/21; find out how to qualify).
Chase interest rates and fees
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Interest rate on balances |
0.01% (in force on 09/14/2020; prices are variable and subject to change) for Savings℠. |
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The national average savings account rate is 0.06% APY. |
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How to avoid monthly fees |
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Interest on premium savings account balances |
The rates for the Chase Premier savings relationship are between 0.02% and 0.05% APY, depending on your balance. Must have a qualifying Chase checking account and complete a minimum number of transactions to earn relationship rates. Otherwise, the standard Chase Premier Savings rate is 0.01% APY. |
How Chase Stacks Up To Online Banking
Big banks, like Chase, with thousands of branches, tend to have accounts with higher monthly fees and lower savings rates. If you are looking for accounts that generate high returns, you will find better options in online banking. In addition to the higher rates, many have accounts with no monthly fees or minimum balance requirements.
CD Chase and other savings options
Chase offers certificates of deposit with many terms, from 1 month to 10 years. But CDs have a minimum opening deposit of $ 1,000 and the rates are also disappointing.
How much interest could you earn? Find out with the calculator below. The higher the rate, the faster your money can grow.
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