Chase Savings Account Interest Rates: November 2026

Chase savings rates are not verified yet · the FDIC figures below are national benchmarks, not Chase rates

National Savings Rates Today

FDIC national rates and rate caps · October 19, 2026

How Much Does $10,000 Earn in One Year?

A Chase savings account pays one of the lowest rates in U.S. banking. Chase has listed 0.01% APY for its basic Chase Savings account. For Chase Premier Savings it has listed 0.01% to 0.02% APY, and the higher figure is a “relationship rate” that depends on linked checking activity. Both accounts carry a monthly service fee ($5 and $25) unless you meet a waiver condition. The rate tables above show FDIC national benchmarks rather than Chase quotes. Use them as the measuring stick: they show how far a near-zero savings rate sits from the national average and from what the market pays at the top end.

Chase Savings Rates and Fees at a Glance

Chase offers two personal savings accounts. They earn almost the same interest but differ in fees, waiver thresholds and who they are built for.

Two caveats apply to every figure in that table:

• Rates can vary by location. Chase prices its savings accounts by ZIP code, and a rate quoted for one market (published comparisons have often used New York City ZIP code 10001) may not be the rate offered where you live.
• Rates are variable. Chase can change a savings APY at any time without notice, unlike a CD rate, which is fixed for the term.

Chase Savings vs. Chase Premier Savings

The rate gap between the two accounts is at most 0.01 percentage point. On a $10,000 balance that is a difference of about $1 a year. Premier Savings costs five times as much per month if the fee is not waived, so it is not an upgrade for interest. It mainly suits customers who already hold a premium Chase checking account. For them the fee is waived and the relationship rate is available.

How the Premier Relationship Rate Works

The 0.02% end of the Premier Savings range is not automatic. To qualify, you need both of the following:

1. A linked premium checking account: either Chase Premier Plus Checking or Chase Sapphire Checking.
2. At least five eligible transactions per month made from that linked checking account.

Miss the transaction count in a given month and the savings account earns the standard rate for that period. Chase Total Checking does not qualify for the relationship rate.

Because the relationship rate adds only 0.01 percentage point, its real value lies in the broader relationship: the same linked checking account also waives the Premier Savings fee.

Monthly Service Fees and the Minimum Balance

Neither account requires money to open, and the minimum balance to earn interest is one cent. The balance that matters is the one that avoids the monthly service fee.

Chase Savings ($5 per month)

The fee is waived in any statement period in which you meet one of these conditions:

• A balance of $300 or more at the beginning of each day
• At least $25 in automatic transfers (Autosave or repeating transfers) from a personal Chase checking account
• A linked Chase Premier Plus Checking, Chase Sapphire Checking or Chase Private Client Checking account
• An account owner under 18

Chase Premier Savings ($25 per month)

The fee is waived in any statement period in which you meet one of these conditions:

• A balance of $15,000 or more at the beginning of each day
• A linked Chase Premier Plus Checking or Chase Sapphire Checking account

Beginning-of-day balance vs. average balance

The balance waiver applies at the beginning of each day, not to an average daily balance. If you keep $5,000 in Chase Savings for most of the month but leave $250 on a single day, you miss the balance condition for that period, and the fee then depends on whether another waiver applies. For balances that move around, a recurring $25 Autosave transfer from Chase checking meets the condition regardless of the savings balance.

What a Chase Savings Account Actually Earns

The formulas

A savings rate is quoted as an annual percentage yield (APY), which includes the effect of compounding. Chase compounds savings interest monthly and credits it to the account once a month. The relationship between the stated interest rate (r) and APY with monthly compounding is:

APY = (1 + r / 12)^12 − 1

At rates this low, compounding adds almost nothing, so the interest rate and APY are effectively the same number. For estimates:

• One-year earnings ≈ balance × APY
• Monthly interest ≈ balance × rate ÷ 12

Labeled hypothetical: interest vs. fees

The following examples assume the listed APYs hold for a full year, the balance stays constant, and no deposits or withdrawals occur.

Monthly interest on $10,000 at 0.01% comes to roughly 8 cents. At Chase, the fee waiver matters far more than the rate. Below the waiver threshold, with no other waiver in place, the account loses money every month, because no realistic balance earns enough interest at these rates to offset a $5 or $25 fee.

Comparing against another account

To measure what keeping money at Chase costs relative to another account, use:

Annual earnings gap ≈ balance × (other account’s APY − Chase APY)

For a hypothetical example, suppose an account paid 4.00% APY. A $10,000 balance would earn about $400 in a year, against about $1 at 0.01%, a gap of roughly $399. The real gap depends on the rate actually on offer when you compare.

How to Read the National Rate Tables Above

The national rates and rate caps in the tables above are published by the FDIC. They are useful context for a Chase rate, but each column measures something different.

• National rate (national average). A weighted average of rates paid by FDIC-insured banks and savings institutions on a given product, weighted by each institution’s share of deposits. Large banks with huge deposit bases pull this average toward their own pricing. A savings account at 0.01% sits well below it.
• Rate cap. A regulatory ceiling, not an offer. Under FDIC rules, a bank that is less than well capitalized generally cannot pay significantly more than prevailing rates. The national rate cap is set at the higher of the national rate plus 0.75 percentage point or the 95th percentile of rates paid by institutions. It marks roughly how high market rates reach. It is not a rate any particular bank is paying you.
• Treasury / fed funds yield. A market benchmark for short-term government and policy rates. It approximates what risk-free cash can earn directly, which is why it is a natural comparison for savings yields.
• CD rows. The same three measures by CD term, from one month to 60 months. These help when weighing a savings account against locking money into a CD.

Applying the one-year formula (balance × APY) to each benchmark and to a Chase APY shows the gap in dollars. The benchmarks are national while Chase’s rate is ZIP-specific, so the result is an estimate for your market rather than an exact match.

Why Chase Savings Rates Are So Low

Several forces keep big-bank savings rates near zero even when market rates are much higher.

The fed funds rate sets the ceiling, not the floor. Savings rates across the industry tend to move in the same direction as the Federal Reserve’s target for the federal funds rate. When the Fed raises rates, banks can earn more on loans and reserves, and many raise deposit rates to compete. When it cuts, deposit rates usually fall. Each bank decides how much of a Fed move to pass through to savers. A bank that keeps its savings rate at 0.01% through a full rate cycle is passing through essentially none of it.

Branch networks cost money. A bank with thousands of branches and ATMs carries far higher overhead than an online bank. Online banks often use part of that cost difference to pay higher APYs. Traditional banks spend it on in-person access.

Deposit supply. Banks pay interest to attract the deposits they lend and invest. A bank that already holds more deposits than it needs has little reason to bid for more with higher rates. Many customers keep savings next to their checking for convenience, which gives large banks a deposit base that does not leave quickly when rates rise elsewhere.

Relationship pricing. Chase ties its small rate premium and fee waivers to premium checking accounts. The savings account works as part of a package rather than a standalone product competing on yield.

Inflation adds a further cost. The real return on savings is approximately the nominal APY minus the inflation rate. At 0.01%, almost any positive inflation rate means the purchasing power of the balance shrinks each year. The U.S. inflation rate by year shows how large that erosion has been historically.

Withdrawals, Transfers and Regulation D

Chase savings accounts currently have no limit on the number of withdrawals or transfers and no excess-withdrawal fee. That has not always been true.

Federal Reserve Regulation D long limited “convenient” transfers and withdrawals from savings accounts to six per month. Like many banks, Chase enforced the rule with a fee, $5 for each withdrawal or transfer out beyond the sixth in a monthly statement period. In April 2020 the Federal Reserve removed the six-per-month requirement from Regulation D. Chase later dropped the excess-withdrawal fee from its deposit account terms.

Because Regulation D no longer imposes the limit, any limit now comes from a bank’s own policy. At Chase, money moves to linked Chase checking instantly, and it is also reachable at Chase ATMs and branches. Many online savings accounts have no branch or ATM access and rely on external transfers that can take a few business days.

Pros and Cons of Chase Savings Accounts

Pros

• No minimum opening deposit on either account.
• No excess-withdrawal fees and no cap on the number of withdrawals.
• Instant access through transfers to Chase checking, plus ATM and branch access across a large network.
• Several fee waivers on basic Chase Savings, including a modest $300 daily balance or a $25 automatic transfer.

Cons

• Near-zero interest. At 0.01% to 0.02%, even large balances earn very little.
• Monthly service fees that can exceed a year of interest within a single month.
• No extra savings tools. Some competitors offer multiple goal-based “buckets,” round-ups on debit card purchases, or several sub-accounts. Chase offers a basic savings account.
• Location-based pricing, so a rate you see quoted may not match the rate in your ZIP code.

When the trade-off makes sense

A Chase savings account works best as a convenience account. It can hold a buffer for overdraft protection, short-term cash for upcoming bills, or money you want to move to checking instantly. The trade-off is weakest for an emergency fund or a large cash reserve, where the yield gap compounds into real money over a year or more.

New account bonuses can change the math, but a bonus is a one-time payment, not a rate, and bank bonuses are generally taxed as interest income. Treat it as a separate calculation from the ongoing APY.

About Chase and Deposit Insurance

Chase, the consumer banking arm of JPMorgan Chase, is the largest U.S. bank by assets, with more than 5,000 branches and about 15,000 ATMs. It also sells fixed-rate CDs, which pay a fixed rate in exchange for leaving money untouched for a set term. Current terms are on our Chase CD rates page.

Chase deposit accounts are insured by the FDIC up to $250,000 per depositor, per insured bank, per ownership category. There is no general cap on how much you can deposit. Balances above the insurance limit in a single ownership category are not covered if the bank fails. Ownership categories include single accounts, joint accounts and certain retirement accounts, so a household can hold more than $250,000 at one bank with full coverage by spreading money across categories.

Savings interest is taxable as ordinary income. Banks issue Form 1099-INT when a year’s interest reaches $10. At Chase’s rates, many savers will not reach that threshold, but the interest is still reportable.

Alternatives to a Chase Savings Account

The right alternative depends on when you will need the money and how often you will withdraw it. Emergency money should stay liquid. Money for a known future date can be locked up for a higher yield.

High-yield savings account

Online banks, along with some credit unions and traditional banks, offer high-yield savings accounts with APYs far above the national average. They are the most direct replacement for a Chase savings account, with the same daily liquidity and FDIC or NCUA coverage. Most lack branch access, and transfers to an outside checking account can take one to three business days. Compare current offers on our lists of the best high-yield savings accounts and high-yield savings rates compared.

Money market account

A money market account blends savings and checking features. It often pays more than a standard savings account and may come with checks or a debit card. Some carry monthly fees with balance-based waivers, and some banks still set their own monthly withdrawal limits. Chase does not offer a consumer money market account, so this option means banking elsewhere.

Certificate of deposit

A CD pays a fixed APY for a set term, ranging from under a month to several years depending on the bank. Withdrawing before maturity usually triggers an early withdrawal penalty, so CDs suit money with a known timeline rather than an emergency fund. The CD rows in the national rate table above show how term length affects rates. Current offers are on our best CD rates page.

U.S. Treasury bills

T-bills are short-term federal debt with maturities from four weeks to one year, bought through TreasuryDirect or a brokerage. They are backed by the U.S. government, and their interest is exempt from state and local income tax, which helps savers in high-tax states. Their yields track the Treasury benchmark shown above.

Series I savings bonds

I bonds pay a rate tied to inflation. You must hold them at least 12 months, and cashing out before five years forfeits the last three months of interest. They suit money you can leave untouched for at least a year and want protected against inflation. They are a poor fit for cash you may need on short notice.

Chase vs. Capital One vs. Wells Fargo

Comparing Chase with two other large banks shows how differently big banks structure savings accounts. The table compares account structure rather than current rates, which change.

Chase vs. Capital One

Both banks require no opening deposit. Capital One’s 360 Performance Savings charges no monthly fee and pays a rate far above Chase’s, with no linked-account conditions. The trade-off is physical access, because Capital One runs a much smaller branch network. For a saver who rarely visits a branch, Capital One’s structure is more favorable on every money measure. Chase’s advantage is mainly in-person service and instant transfers within an existing Chase relationship.

Chase vs. Wells Fargo

Wells Fargo requires $25 to open and also charges waivable monthly fees, so its fee structure resembles Chase’s. Its rate structure is different. Wells Fargo’s higher rates are reserved for Platinum Savings customers with a linked Premier Checking account and balances of $100,000 or more. Below that tier, its savings rates can be just as low as Chase’s.

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