Explore the Latest Chase Savings Account Interest Rates for December 2023

Chase Bank on Vine Street in Los Angeles California
Sue Hwang / GOBankingRates

Over the past year, the Federal Reserve has been raising the federal funds rate. As the federal funds rate rises, interest rates tied to savings accounts go up. As a saver, you’ll have an opportunity to earn more on your savings thanks to these rate hikes. With that, you might find yourself wondering about Chase savings account interest rates or Chase annual percentage yields. Here’s a look at what Chase has to offer.

Chase Savings Account Interest Rates

Chase Bank offers two main savings account options, both of which are FDIC-insured. Here’s a look at current Chase savings account interest rates.

Savings Account APY
Chase Savings
Chase Premier Savings — Relationship Rate

Chase Savings℠

The standard Chase Savings account offers an APY of . This account comes with a $5 monthly service fee, which can be waived in a few ways:

  • If you maintain a minimum daily balance of $300
  • Have $25 in repeating automatic transfers
  • Have a linked Chase College Checking account
  • Are younger than 18
  • Have a linked Premier Plus Checking℠, Chase Sapphire℠ Checking or Private Client Checking℠ account

Chase Premier Savings℠

The Chase Premier Savings account offers a slightly higher APY of on all balances if you qualify for a Premier relationship rate through Chase.

In order to earn the Premier relationship rates, you must do the following:

  • Link a Premier Plus Checking or Chase Sapphire Checking account
  • Initiate at least five transactions from your linked checking account each month

This account comes with a $25 monthly service fee, which can be waived if you maintain a minimum daily balance of $15,000 or have a linked Premier Plus Checking or Chase Sapphire Checking account.

How Do the Interest Rates on Chase Savings Accounts Compare to Other Banks?

The interest rates offered through Chase savings accounts are not the highest out there. Although it is nice to earn something on your savings, you can likely get higher interest rates for your savings if you shop around.

A Better Way to Bank

According to the Federal Deposit Insurance Corp., the average interest rate on savings accounts is around 0.46%. With that, Chase is offering interest rates much lower than the national average. In contrast to Chase, some banks offer APYs topping out over 4%. It might be worth it to shop around when looking to open a new savings account.

How To Decide on the Best Savings Account

The most basic purpose of a savings account is to store funds for future use. The best savings account for you will depend on your personal situation and plans for the funds.

As a saver who wants to put their funds to work, shopping around for a savings account with a high APY might be a top priority. That’s especially true if you prefer to keep a relatively large amount of cash available for emergencies. If you are OK with earning a lower APY for the conveniences that come with a big bank, then Chase might be the right choice.

Before you move forward with any particular bank account, explore the best savings account interest rates to see what is possible.

Final Take To GO

As one of the largest banks in the country, Chase is a well-known brand that offers multiple savings account options. But the APYs tied to these Chase savings accounts are relatively low. If you are comfortable with their rates, then a Chase savings account might make sense in light of the bank’s expansive physical presence. But if you are comfortable working with an online bank, you will likely find much higher APY options.

FAQ on Chase Savings Account Interest Rates

Here are the answers to some commonly asked questions about Chase's savings account interest rates.
  • Does Chase have a high-interest savings account?
    • Chase does not offer a high-yield savings account. If you're looking for one, it's a good idea to consider your options at online banks, which typically offer higher rates than those offered by brick-and-mortar banks.
  • Do Chase savings accounts earn interest?
    • Yes. The interest rates offered through Chase savings accounts vary based on the account type you choose. The APYs range from 0.01% to 0.02%. Of course, this interest rate range is subject to change at any time.
  • Is 0.01% a good interest rate?
    • An APY of 0.01% is relatively low in comparison to the national average savings rate, which is 0.46% as of Nov. 20.
  • What is Chase's one-year CD rate?
    • Chase offers a relationship rate of 3.00% for its one-year CD account.
  • Which bank gives 7% interest on a savings account?
    • Banks in the U.S. currently do not offer 7.00% APY on a savings account.
  • Which bank gives 6% interest on a savings account?
    • For savings balances up to $1,000, Digital Federal Credit Union is offering an extremely competitive 6.17% APY on its Primary Savings account.
    • Mango Financial offers 6.00% APY for balances up to $2,500. 
    • Designed to help customers establish good savings habits, both of these promotional rates drop after the maximum balance is reached. If you are looking for higher interest rates, make sure to shop around for the top APYs before signing up for a new savings account.
  • Is a Chase savings account a good option?
    • The Chase savings account options offer an opportunity to tuck away cash at one of the largest banks in the nation. You won't be locking in the top interest rates on the market. But the bank offers a large physical footprint, which means you can find branches across the nation.
    • If you are looking for a banking experience with in-person options, then Chase might be a good fit for your savings.
A Better Way to Bank

More on Chase Bank

Caitlyn Moorhead and Caitlin Cao contributed to the reporting for this article.

The information related to Chase Savings and Chase Premier Savings was collected by GOBankingRates and has not been reviewed or provided by the issuer of these products. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for these products.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 7, 2023. 

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.


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