Chase does not currently offer a dedicated high-yield savings account
Chase, one of the largest banks in the United States, does not have a product specifically branded as a high-yield savings account. The bank offers a Chase Savings Account and a Chase Premier Savings Account, but both pay interest rates that are substantially lower than what you would find at online banks or credit unions that focus on high-yield products.
As of now, Chase's standard savings accounts pay rates well below 1% annual percentage yield (APY), while high-yield savings accounts at other institutions typically pay between 4% and 5% APY. The difference matters: on a $10,000 balance, that gap means earning roughly $400 to $500 per year at a high-yield account versus $20 to $50 at Chase.
Chase does offer other savings products — including money market accounts and certificates of deposit (CDs) — but these also carry rates lower than what competing banks advertise for high-yield savings.
Key Takeaways
- Chase's standard savings accounts pay less than 1% APY, making them unsuitable if your goal is to earn meaningful interest on savings.
- High-yield savings accounts at online banks and credit unions typically pay 4% to 5% APY, which is substantially higher than Chase's rates.
- Chase customers who want higher yields would need to move money to a separate institution or keep only emergency funds at Chase.
- Chase's money market accounts and CDs also pay below-market rates compared to institutions that specialize in savings products.
Why Chase's rates are lower than high-yield alternatives
Chase keeps savings rates low because the bank operates a large branch network, funds credit cards and loans, and maintains a full-service business model. Those costs get passed to customers through lower deposit rates. Banks that offer high-yield savings accounts — such as Marcus by Goldman Sachs, Ally Bank, and American Express Personal Savings — operate primarily online, have no branch overhead, and use deposits mainly to fund their own lending or investments.
Chase's business model prioritizes lending and credit products over deposit rates. The bank makes more money from mortgages, auto loans, and credit card interest than from the spread between what it pays depositors and what it earns on those deposits. High-yield banks reverse that priority: they compete aggressively on deposit rates to attract savings.
If you have a Chase checking account and use other Chase products, the bank may offer you relationship benefits like fee waivers or bonus interest on CDs. But these perks do not close the gap between Chase's savings rates and true high-yield accounts.
What Chase savings accounts actually offer
Chase's Chase Savings Account requires a minimum opening deposit of $25 and has no monthly maintenance fee if you maintain a minimum balance of $300. If your balance falls below $300, the bank charges a $5 monthly fee. The account comes with a debit card and online access, and you can link it to a Chase checking account for straightforward transfers.
The Chase Premier Savings Account is designed for customers with higher balances. It requires a $25 minimum opening deposit and waives the monthly fee if you keep at least $10,000 in the account. This account also offers tiered interest rates — meaning the rate increases slightly as your balance grows — but the top tier still pays well below what high-yield accounts offer.
Both accounts allow six withdrawals per month before triggering a fee, which aligns with federal rules that previously capped savings account withdrawals. That limit is no longer enforced, but many banks still maintain it.
How Chase's rates compare to online banks
| Account Type | Chase Rate (Approximate) | High-Yield Bank Rate (Approximate) | Annual Interest on $10,000 |
|---|---|---|---|
| Standard Savings | 0.01% APY | 4.50% APY | Chase: $1 | HYSA: $450 |
| Premier Savings | 0.01% to 0.05% APY | 4.50% APY | Chase: $5 | HYSA: $450 |
| Money Market Account | 0.01% APY | 4.75% APY | Chase: $1 | HYSA: $475 |
The rates shown are approximate and change frequently. Chase updates its rates independently, and high-yield banks adjust theirs in response to Federal Reserve decisions. The gap between Chase and high-yield competitors has remained consistent for years, even as overall rates have risen and fallen.
If you keep $50,000 or more in savings, the difference becomes even more significant. Over five years, that money would earn roughly $25 at Chase but $11,250 at a 4.5% high-yield account — a difference of over $11,000.
When it might make sense to keep savings at Chase
Chase savings accounts are useful for specific situations, not for building wealth through interest. If you have a Chase checking account and need a linked savings account for transfers and bill pay, a Chase savings account works without requiring you to manage accounts at multiple banks. The convenience of moving money between accounts when ready, without waiting for transfers to clear, has value if you use Chase for daily banking.
Chase also offers FDIC insurance up to $250,000 per account category, so your deposits are protected the same way they would be at any other bank. If safety and accessibility matter more to you than interest earnings, Chase is a legitimate choice.
Some customers use Chase as their primary bank for checking and bill pay, then keep a high-yield savings account at a separate institution for money they are not spending. This approach lets you earn higher interest on savings while maintaining the convenience of Chase for everyday banking.
Chase's other savings products and their rates
Chase offers Certificates of Deposit (CDs) with terms ranging from three months to five years. Like the savings accounts, Chase CD rates are lower than what you would find at online banks or credit unions. A one-year CD at Chase might pay 0.10% to 0.15% APY, while the same term at a high-yield CD specialist could pay 4.5% to 5.0% APY.
Chase also offers a Money Market Account, which combines features of checking and savings accounts. You get a debit card and check-writing ability, but the interest rate is similarly low — typically around 0.01% APY. The account requires a $2,500 minimum balance to avoid a monthly fee.
If you are comparing Chase to other banks for any savings product, check the current rates directly on each bank's website. Rates change frequently, and the gap between Chase and high-yield competitors shifts with Federal Reserve policy.
How to move money from Chase to a high-yield account
If you decide to open a high-yield savings account elsewhere, you do not need to close your Chase account. You can keep your Chase checking account for daily banking and transfers, then move savings to a high-yield bank. Most high-yield banks allow you to link external accounts and transfer money electronically.
The process typically works like this: open an account at your chosen high-yield bank, provide your Chase account number and routing number, and request an external transfer. The transfer usually takes one to three business days. You can also withdraw cash from Chase and deposit it at the new bank, though this is slower and less find.
Some high-yield banks offer sign-up bonuses — typically $100 to $300 — if you transfer a minimum amount within a set timeframe. These bonuses are separate from the interest you earn and can offset the effort of switching.
Frequently Asked Questions
Does Chase offer any account with rates close to high-yield savings?
No. Chase's highest-paying savings product is the Premier Savings Account, which tops out around 0.05% APY. This is still roughly 90 times lower than a 4.5% high-yield account. Chase's business model does not prioritize deposit rates, so the bank is unlikely to close this gap.
Is my money safer at Chase than at an online bank?
No. Both Chase and online high-yield banks are FDIC-insured up to $250,000 per account category. Your deposits are equally protected at either institution. The only difference is the interest rate you earn.
Can I have both a Chase savings account and a high-yield account?
Yes. Many people keep a Chase checking account for daily banking and a high-yield savings account at a separate bank for money they are saving. You can link the accounts and transfer money between them electronically whenever you need to.
What if I have a large balance — does Chase offer better rates for bigger deposits?
Chase's Premier Savings Account has tiered rates that increase slightly with your balance, but the top tier still pays less than 0.10% APY. A high-yield account paying 4.5% APY would earn you thousands more per year on a large balance, regardless of which bank you choose.
Do Chase's CD rates ever match high-yield banks?
Rarely, and only briefly. When the Federal Reserve raises rates sharply, Chase may temporarily increase CD rates to compete. But the bank typically lags behind high-yield specialists and returns to lower rates once the initial rate-hike cycle slows.