Most Chase checking accounts do not pay interest
Chase's standard checking accounts—including Chase Total Checking and Chase Secure Checking—pay zero interest on your balance. Your money sits in the account earning nothing, no matter how much you deposit or how long you leave it there.
Chase does offer one checking account that pays interest: Chase Premier Plus Checking. This account pays a small amount of interest, but it requires a high minimum balance (currently $25,000) and comes with monthly fees unless you meet specific requirements. For most people with ordinary checking balances, this account is not practical.
If you keep money in a regular Chase checking account expecting it to grow through interest, it will not. The account's purpose is to hold money for spending and bill payments, not to earn returns.
Key Takeaways
- Chase Total Checking and Chase Secure Checking pay zero interest on any balance you keep in them.
- Chase Premier Plus Checking does pay interest, but requires a $25,000 minimum balance and charges monthly fees if you do not meet other conditions.
- If you want your money to earn interest, you will need to move it to a savings account, money market account, or certificate of deposit (CD) instead.
- Interest rates on Chase savings products change over time and vary based on the account type and current market conditions.
How Chase checking accounts are designed
Checking accounts are built for access and spending, not for saving. You can write checks, use a debit card, set up automatic bill payments, and withdraw cash at any time without penalty. Banks do not pay interest on checking accounts because they expect the money to move in and out frequently.
Chase makes money on checking accounts by charging monthly maintenance fees (unless you meet waiver requirements like direct deposit or a minimum balance) and by lending out the money customers deposit. They do not share interest earnings with checking account holders.
What Chase Premier Plus Checking actually costs
Chase Premier Plus Checking is marketed as an interest-bearing account, but the interest rate is very low—typically less than 0.01% annually on balances under $25,000, and only slightly higher on larger balances. At that rate, a $25,000 balance earns roughly $1 to $3 per year.
The account charges $25 per month in maintenance fees. You can waive the fee if you maintain a $25,000 minimum balance, keep $100,000 or more in linked Chase accounts, or meet other conditions. Most people who open this account end up paying the monthly fee, which means they lose money compared to keeping their cash in a free checking account elsewhere.
If you have $25,000 to keep in a bank account, a high-yield savings account at another bank will pay you 4% to 5% annually—roughly $1,000 to $1,250 per year on that same balance. Chase's interest-bearing checking account is not competitive.
Where to earn interest on your money at Chase
If you want your money to grow while staying with Chase, you have other options. Chase High Yield Savings Account pays interest that changes with market rates (currently around 4.35% annually, though this varies). There is no monthly fee, and you can open it with any deposit amount.
Chase also offers Money Market Accounts and Certificates of Deposit (CDs). Money Market Accounts work like savings accounts but may offer slightly higher rates in exchange for keeping a larger balance. CDs lock your money away for a set period (3 months to 5 years) in exchange for a may provide rate that is usually higher than savings accounts.
All of these accounts pay interest. A checking account does not, and Chase will not change that for ordinary checking products.
Why banks separate checking and savings
The reason Chase and other banks keep checking and savings separate is regulatory and practical. Checking accounts are covered by different rules than savings accounts. Banks can limit how many times you withdraw from a savings account per month, but checking accounts must allow unlimited withdrawals. That flexibility costs banks money, so they do not pay interest to offset it.
Savings accounts and CDs have withdrawal restrictions or lock-in periods, which let banks lend out the money with confidence. That stability lets them pay interest. The two products serve different purposes, and the interest (or lack of it) reflects that difference.
How to move money between Chase accounts
If you decide to keep your checking account at Chase but move savings to a Chase High Yield Savings Account, the transfer is free and instant. You can set it up online through your Chase account, or call Chase at the number on the back of your card. Money moves between your own Chase accounts immediately.
You can also set up automatic transfers—for example, moving $100 to savings every payday. This is a common way to build savings without thinking about it.
If you want to move money to a savings account at a different bank, Chase can send it via ACH transfer (usually free, takes 1 to 3 business days) or wire transfer (usually costs $15 to $30, arrives the same day or next day). Ask Chase which option works for your situation.
Frequently Asked Questions
Does Chase Total Checking pay any interest at all?
No. Chase Total Checking pays zero interest on your balance, regardless of how much money you keep in it. The account is designed for spending and bill payments, not for earning returns on your money.
What is the interest rate on Chase Premier Plus Checking?
The rate varies and is very low—typically less than 0.01% on balances under $25,000. Even on larger balances, the rate is usually under 0.05% annually. The $25 monthly maintenance fee means most customers lose money on this account compared to keeping cash in a free checking account elsewhere.
Can I earn interest if I keep a large balance in my Chase checking account?
No. Chase does not pay interest on standard checking accounts, no matter the balance size. If you have a large amount to keep at Chase, move it to a Chase High Yield Savings Account or Money Market Account instead—both pay interest and have no monthly fees.
How much interest does Chase High Yield Savings pay?
The rate changes with market conditions and is not may provide. As of now, rates are around 4.35% annually, but this varies. Check Chase's website or call them for the current rate before opening an account. Rates can go up or down at any time.
If I move money to a Chase savings account, can I still use my debit card to spend it?
No. Savings accounts do not come with debit cards. You can transfer money back to checking when you need to spend it, or withdraw cash at a Chase ATM. This separation is by design—it makes it slightly harder to spend savings money on impulse, which helps you keep the balance growing.