Chase does not currently offer a standalone high-yield savings account

Chase Bank does not have a dedicated high-yield savings account (HYSA) product. Chase offers a regular savings account called Chase Savings, which earns interest, but the rate is substantially lower than what you would find at online banks or credit unions that specialize in high-yield products.

If you bank with Chase and want higher interest on savings, you have two paths: keep money in Chase Savings and accept a lower rate, or move funds to a separate institution that offers a HYSA. Many people do both — they keep a checking account at Chase for convenience and deposit savings into a HYSA elsewhere.

Key Takeaways

  • Chase Savings earns interest but at a rate lower than most online banks and credit unions offer on high-yield accounts.
  • Chase does not offer a product marketed as a high-yield savings account, though it does have regular savings and money market accounts.
  • You can open a HYSA at another bank while keeping your Chase checking account open for everyday banking.
  • Chase's money market account may offer slightly higher rates than Chase Savings, but rates vary by account tier and deposit amount.

What Chase Savings actually earns

Chase Savings currently earns interest, but the rate changes based on market conditions and your account balance. The rate is typically in the range of 0.01% to 0.04% annual percentage yield (APY), depending on your balance tier. This is substantially lower than HYSAs at online banks, which often offer 4% to 5% APY or higher.

The difference matters if you are holding a large balance. On $10,000, the difference between 0.01% APY and 4.5% APY is roughly $450 per year in interest you would not earn at Chase. Over time, that gap compounds.

Chase Money Market Account as an alternative

Chase offers a Chase Money Market Account that may pay a slightly higher rate than Chase Savings. Money market accounts typically come with check-writing privileges and debit card access, though Chase limits the number of withdrawals you can make per month.

Even with a money market account, Chase's rates remain lower than most HYSAs. If earning the highest possible interest is your goal, a money market account at Chase is still not competitive with dedicated high-yield products elsewhere. However, if you value having all your accounts in one place and are willing to accept lower interest, it is an option.

Why Chase does not offer a high-yield savings account

Large brick-and-mortar banks like Chase have physical branches, employees, and overhead costs that online banks do not. Online banks can offer higher rates because they have lower operating expenses and pass some of those savings to customers through better interest rates. Chase's business model relies on branch networks and full-service banking, which means their deposit rates tend to be lower.

Chase also makes money by lending out deposits at higher rates than they pay savers. A lower deposit rate means a wider profit margin for the bank. Offering a competitive HYSA would cut into that margin, which is why Chase has not introduced one.

How to compare Chase to HYSA options

If you are deciding whether to keep savings at Chase or move to a HYSA elsewhere, compare the annual percentage yield (APY), any monthly fees, and the minimum balance required. Most online HYSAs have no monthly fees and no minimum balance, while Chase Savings has no monthly fee but earns a much lower rate.

You can also check whether your HYSA choice is insured by the Federal Deposit Insurance Corporation (FDIC). Most online banks that offer HYSAs are FDIC-insured up to $250,000 per depositor, the same protection Chase offers. This means your money is equally safe at either institution.

Opening a HYSA while keeping Chase

You do not have to close your Chase accounts to open a HYSA elsewhere. Many people keep a Chase checking account for everyday spending and bill payments, then transfer money to a HYSA at another bank for savings. This approach lets you use Chase's branch network and customer service while earning a higher rate on money you are not spending right away.

Transfers between Chase and an external HYSA typically take one to three business days using ACH transfer (the standard electronic transfer method). Some online banks also offer faster transfer options, though these may have limits on how much you can move at once.

Frequently Asked Questions

Does Chase have any account that earns high interest?

Chase Savings and Chase Money Market Account both earn interest, but neither is considered high-yield. Rates on both products are significantly lower than HYSAs at online banks. If earning the highest interest rate is your priority, you would need to open an account at a different institution.

Can I keep my Chase checking account and move only my savings?

Yes. You can keep your Chase checking account for everyday use and open a HYSA at another bank for savings. Many people do this to maintain access to Chase's branches and services while earning a better rate on money they are saving. Transfers between the two accounts are straightforward and typically take one to three business days.

Is my money as safe in a HYSA as it is at Chase?

Most online banks offering HYSAs are FDIC-insured, which means deposits are protected up to $250,000 per depositor — the same protection Chase provides. Check the HYSA provider's website to confirm FDIC insurance before opening an account. The insurance covers your principal and accrued interest.

What if I want to stay with Chase for everything?

If you prefer to keep all your banking at Chase, you can use Chase Savings or Chase Money Market Account. You will earn interest, but at a lower rate than you would at a HYSA elsewhere. This trade-off makes sense if convenience and having one bank matter more to you than maximizing interest earned.