Chase checking accounts earn little to no interest in most cases

Most Chase checking accounts do not pay interest. The bank offers several checking products, and nearly all of them have an interest rate of 0.01% APY or lower—meaning you earn a fraction of a cent per year on your balance. Chase's standard checking account, Chase Total Checking, pays no interest at all. The only Chase checking product that historically paid a higher rate was Chase Premier Plus Checking, which required a minimum balance of $100,000 and paid a variable rate that changed with market conditions. That account is no longer open to new customers, though existing account holders may still have access to it.

If earning interest on your checking balance matters to you, Chase is not the right place to keep that money. A high-yield savings account—whether at Chase or elsewhere—will pay substantially more. As of late 2024, online banks and some credit unions offer savings rates between 4% and 5% APY, which is hundreds of times higher than what a Chase checking account provides.

Key Takeaways

  • Chase Total Checking and most other Chase checking accounts pay 0.01% APY or no interest at all.
  • Chase Premier Plus Checking, which paid higher rates, is closed to new customers and only available to existing account holders.
  • If you want to earn interest on your money, a Chase high-yield savings account or a savings account at another bank will pay significantly more than any Chase checking account.
  • Interest rates on savings products change over time and vary by product, so checking Chase's website or calling the bank will show you the current rate for any account you are considering.

Why Chase checking accounts pay so little interest

Banks use checking accounts as transaction tools, not savings vehicles. Checking accounts are designed for frequent deposits and withdrawals, bill payments, and transfers—not for holding money long-term. Because customers move money in and out constantly, the bank cannot reliably invest those funds for extended periods. Savings accounts and money market accounts, by contrast, are structured for money that stays put, so banks can invest those deposits and pay interest in return.

Chase also sets rates based on what the Federal Reserve does. When the Fed raises its benchmark interest rate, banks have more incentive to pay higher rates on savings products to attract deposits. When the Fed lowers rates, banks lower what they pay. Chase's checking rates have remained near zero for years because the bank prioritizes other features—like ATM access, mobile banking, and overdraft protection—rather than interest earnings.

What you actually earn on a Chase checking account

On a balance of $10,000 in Chase Total Checking, which pays 0.01% APY, you would earn approximately $1 per year. On $100,000, you would earn about $10 per year. These calculations assume the rate stays constant and you do not withdraw or deposit money during the year, which is unrealistic for a checking account. In practice, your actual earnings are even smaller because your balance fluctuates daily.

The math is different with a high-yield savings account. The same $10,000 in a savings account paying 4.5% APY would earn $450 per year. That difference compounds over time, especially if you keep larger sums in savings rather than checking. For anyone holding more than a few thousand dollars, moving money from a non-interest-bearing checking account to a savings account is a straightforward way to earn more without taking on risk.

Chase checking accounts that might pay interest

Chase Premier Plus Checking is the only checking account Chase has offered with meaningful interest rates. It required a $100,000 minimum balance and paid a variable rate that moved with market conditions. During periods of higher interest rates, this account paid between 0.5% and 1.5% APY. Chase stopped opening new Premier Plus accounts several years ago, but customers who already held one can keep it.

If you have a Premier Plus account, check your monthly statement or log into your Chase account online to see your current rate. If you do not have one and want to earn interest on a checking balance, you will need to look at other banks or move money to a Chase savings product instead.

Chase savings accounts and money market accounts pay more

Chase offers high-yield savings accounts and money market accounts that pay substantially more than checking. Chase High Yield Savings Account pays a variable rate that changes with market conditions—as of late 2024, this was around 4.35% APY, though that figure changes. Chase Money Market Account also pays a variable rate and offers check-writing privileges, making it a hybrid between checking and savings. Both require a minimum opening deposit, typically $25,000 for the money market account and $0 for the savings account.

The trade-off is that savings and money market accounts limit how many withdrawals you can make per month without penalty. Checking accounts have no withdrawal limits. If you need frequent access to your money, a checking account is still the right tool—but you should accept that you will not earn interest on it. If you have money you do not need to touch regularly, moving it to a savings account is the practical choice.

How to find the current interest rate on any Chase account

Chase publishes its current rates on its website under the product pages for each account type. You can also call Chase customer service at 1-800-935-9935 to ask about rates on any account. Rates change periodically, so the rate you see today may not be the rate you earn next month. When you open an account, Chase will disclose the APY in writing, and you can track changes by checking your monthly statements or logging into your online account.

If you are comparing Chase to other banks, remember that rates vary widely. A credit union in your area might pay more on savings than Chase does, or a different online bank might offer a better rate on checking. Shopping around takes a few minutes and can mean hundreds of dollars in additional earnings over a year.

Frequently Asked Questions

Does Chase Total Checking earn interest?

No. Chase Total Checking pays 0.01% APY or no interest at all, depending on your account. This means you earn almost nothing on your balance. If you want to earn interest, you need to move money to a Chase savings account or money market account, or switch to another bank.

What is the highest interest rate Chase offers on any checking account?

Chase Premier Plus Checking historically paid between 0.5% and 1.5% APY, but the bank stopped opening new accounts of this type. Existing account holders can keep their Premier Plus accounts. For new customers, Chase's highest rates are on savings and money market accounts, not checking accounts.

Can I earn interest on a Chase checking account if I keep a large balance?

No. The interest rate on a Chase checking account does not change based on your balance. Whether you have $1,000 or $100,000 in Chase Total Checking, you earn the same rate—which is essentially zero. A larger balance simply means you earn slightly more of that near-zero rate.

Should I move my money to a Chase savings account to earn interest?

If you have money you do not need to access frequently, yes. A Chase high-yield savings account pays significantly more than checking. However, savings accounts limit withdrawals and may have higher minimum balances. Compare Chase's rates to other banks before deciding—many online banks and credit unions pay more.

How often do Chase interest rates change?

Chase changes its rates periodically in response to Federal Reserve decisions and market conditions. There is no fixed schedule. You can check your current rate on your monthly statement or by logging into your account online. Chase will notify you of significant rate changes by mail or email.