Chase's Current Savings Account Lineup

Chase does not currently offer a high-yield savings account (HYSA). The bank's standard savings products — Chase Savings, Chase Premier Savings, and Chase find Savings — pay rates well below what you'll find at online banks and credit unions that specialize in high-yield accounts.

As of now, Chase's savings rates typically range from 0.01% to 0.04% annual percentage yield (APY), depending on your account type and balance. These rates have remained flat even as other financial institutions have raised their rates significantly over the past few years. If earning interest on your savings is a priority, Chase's savings accounts are not designed to compete on rate.

Chase does offer a money market account called the Chase Money Market Account, but it also carries similarly low rates and is not marketed as a high-yield product. The bank's strength lies in its branch network, debit card features, and checking account options — not in savings rate competitiveness.

Key Takeaways

  • Chase savings accounts pay between 0.01% and 0.04% APY, which is significantly lower than high-yield savings accounts offered by online banks.
  • Chase's money market account also does not offer competitive rates and should not be confused with a high-yield alternative.
  • If you keep money at Chase for convenience or branch access, you may want to open a separate HYSA elsewhere for funds you're saving rather than spending.
  • Online banks and credit unions typically offer HYSA rates that are 10 to 20 times higher than Chase's standard savings rates.

Why Chase Rates Stay Low

Chase's low savings rates reflect its business model. The bank operates thousands of physical branches and ATMs, funds a large marketing budget, and maintains a full-service retail banking operation. Those costs are built into how the bank prices its products. Chase makes money partly by paying depositors less interest and lending that money out at higher rates.

Online banks — which have no branches, no tellers, and minimal overhead — can afford to pass much higher rates to savers because their cost structure is fundamentally different. A Chase customer pays for convenience and access; a high-yield savings customer at an online bank pays in lower rates for that same convenience trade-off.

Where to Find a High-Yield Savings Account

If you want to earn a meaningful rate on savings, you'll need to look outside Chase. Online banks like Marcus, Ally, American Express Personal Savings, and Discover Bank typically offer HYSA rates that change with the market but have historically been 10 to 20 times higher than Chase's rates.

Credit unions also frequently offer competitive savings rates, especially if you're a member of a larger institution or a credit union network. You can search for credit union rates through CO-OP or Allpoint, which are shared branching networks that let you access your account at thousands of locations nationwide.

Many people keep a checking account at Chase for everyday banking and bill pay, then maintain a separate HYSA at an online bank or credit union for money they're setting aside. This approach lets you use Chase's convenience while earning a real return on your savings.

How to Move Money Between Chase and a High-Yield Account

Once you open an HYSA elsewhere, transferring money from Chase is straightforward. Most online banks and credit unions accept external transfers using your Chase account and routing number. You can initiate the transfer from the new bank's website, and the money typically arrives within one to three business days.

You can also transfer money the other direction — from your HYSA back to Chase — using the same method. Some people set up a regular transfer schedule, moving money to their HYSA each payday and keeping only their monthly spending amount at Chase.

If you want to move a large sum quickly, you can withdraw cash from Chase and deposit it at the new bank, though this is less common for online banks that don't have physical locations. Check the new bank's deposit methods before you withdraw.

Chase Checking Accounts and Interest

Chase checking accounts also pay little to no interest. The Chase Total Checking account pays 0.01% APY on balances, and most other Chase checking products pay nothing. Checking accounts are not designed to be savings vehicles — they're meant for frequent deposits and withdrawals.

If you want interest-bearing checking, some credit unions and online banks offer checking accounts with modest rates, though these are less common than high-yield savings accounts. Most people use checking for spending and a separate savings account for money they want to grow.

Should You Keep Your Money at Chase?

Whether to keep savings at Chase depends on what matters most to you. If you value having a physical branch nearby, a large ATM network, and the ability to deposit checks in person, Chase's convenience may outweigh the cost of low rates. Many people find this trade-off worth it for their checking account.

For savings specifically — money you're not touching regularly — the math usually favors moving it elsewhere. The difference between 0.01% and 4.5% APY on $10,000 is roughly $450 per year. Over time, that gap compounds and grows larger.

A practical middle ground: keep your checking account at Chase for its features, but move savings to an HYSA. You'll still have access to Chase's branch network and customer service, but your savings will actually earn money.

Frequently Asked Questions

Can I get a higher rate if I have a large balance at Chase?

No. Chase's savings rates are the same regardless of your balance. The bank's tiered rate structure (if it exists) applies to checking accounts, not savings. Your balance size won't move you into a higher-rate savings tier at Chase.

Does Chase ever raise its savings rates?

Chase does adjust its rates periodically, but historically it has been slow to raise rates when the Federal Reserve increases its benchmark rate, and slow to lower rates when the Fed cuts. If you're waiting for Chase rates to become competitive, you'll likely be waiting a long time.

What if I want to keep all my money in one bank?

That's a valid choice. Some people prefer the simplicity of one institution. If that's you, understand that you're trading interest earnings for convenience. You could also use Chase for checking and everyday banking while keeping a separate HYSA at an online bank — many people find this the best balance.

Is my money safer at Chase than at an online bank?

No. Both Chase and online banks are FDIC-insured up to $250,000 per account holder per institution. Your deposits are equally protected whether you bank with Chase or an online bank. The FDIC insurance is what matters, not the bank's size or whether it has branches.

Can I transfer money from Chase to an HYSA on my phone?

Yes. Most online banks let you set up external transfers through their mobile app using your Chase routing number and account number. The transfer usually takes one to three business days to complete, and you can monitor it through both banks' apps.