Chase savings accounts pay between 0.01% and 4.75% APY depending on the account type and balance tier

Chase offers several savings products, and the interest rate you earn depends on which account you open and how much money you keep in it. The Chase Savings Account (their basic option) currently pays around 0.01% APY on all balances. The Chase Premier Savings account pays higher rates that step up with your balance—typically 0.01% on balances under $25,000 and up to 4.75% APY on balances of $2 million or more, though these tiers and rates change without notice. The Chase Money Market Account sits between the two and also uses tiered rates.

These rates are not fixed. Chase changes them whenever the Federal Reserve adjusts its benchmark rate, and sometimes between those moves. You will not see a notification before a rate drops—you have to check your account or log into Chase online to see what you are currently earning. The rates listed here reflect what Chase advertised recently, but by the time you read this, they may have shifted.

Key Takeaways

  • Chase Savings Account pays 0.01% APY on all balances, while Premier Savings pays up to 4.75% APY depending on how much money you keep in the account.
  • Interest rates on Chase savings products change whenever the Federal Reserve moves its benchmark rate, and Chase does not always announce the change beforehand.
  • You earn interest monthly, and Chase adds it directly to your account balance—you do not have to do anything to collect it.
  • The higher rates at Chase Premier Savings only apply if you maintain the minimum balance for that tier; if your balance drops below the threshold, your rate drops immediately.

How Chase calculates and deposits your interest

Chase uses daily compounding, meaning it calculates interest on your balance every single day and adds it to your account. The interest is then included in the next day's calculation, so you earn a small amount of interest on the interest itself. This happens automatically—you do not have to do anything.

Interest posts to your account once a month, usually around the end of the month or the first few days of the next month. The exact date varies slightly depending on when your statement cycle closes. When it posts, the amount appears as a deposit in your transaction history, and your account balance goes up by that amount immediately.

Why Chase rates are lower than other banks

Chase is a large national bank with thousands of branches and ATMs. That physical footprint costs money to maintain, and those costs get reflected in lower interest rates on savings. Online-only banks and credit unions often pay significantly higher rates because they have no branches to staff or maintain.

If you keep money at Chase primarily for access to their ATM network or because you have a checking account there, the low rate may be a trade-off you accept. If you are looking to maximize interest earned, you would need to move money to a different institution—which means opening an account elsewhere and transferring funds. Some people keep a small amount at Chase for convenience and put larger sums in higher-paying accounts at other banks.

Tiered rates and balance requirements at Chase Premier Savings

Chase Premier Savings is where the higher rates live, but you only earn them if you hit the balance thresholds. The tiers typically work like this: balances under $25,000 earn the lowest rate (often 0.01%), balances from $25,000 to $100,000 earn a middle rate, and balances above $100,000 earn progressively higher rates, with the top rate (4.75% APY) kicking in at $2 million or more. However, these thresholds and rates are not may provide and change at Chase's discretion.

The critical detail: if your balance drops below a tier threshold, your rate drops immediately to the next lower tier. If you have $2 million earning 4.75% and you withdraw $500,000, your rate on the remaining $1.5 million drops to whatever the rate is for the $1 million to $2 million tier. You do not get a grace period or a warning—the rate change takes effect right away.

How to find Chase's current rates

Chase publishes rates on their website under the savings account product pages, but those rates are often not the same as what existing customers see. New customers sometimes get a promotional rate for a limited time, while existing customers earn the standard rate. The only way to know what rate you are actually earning is to log into your Chase account online or through the mobile app and look at your account details.

You can also call Chase customer service at the number on the back of your debit card or visit a branch in person. Have your account number ready, and ask them to confirm the current APY on your specific account. Written confirmation is better than a verbal quote because rates change, and you want a record of what you were told.

Moving money to a higher-paying account

If Chase's rates do not meet your needs, you can move money to another bank without closing your Chase account. Open a savings account at a credit union, an online bank, or another institution that offers higher rates. Then transfer money from your Chase account to the new account using an external transfer (most banks let you initiate this online by entering the new account's routing and account numbers).

Transfers between banks typically take one to three business days. During that time, the money is in transit and earning no interest at either institution. If you are moving a large sum, you might split it into smaller transfers to reduce the risk if something goes wrong, though bank-to-bank transfers are generally safe and reversible if there is an error.

Frequently Asked Questions

Does Chase charge a fee to earn interest on savings?

No. Chase does not charge a fee for holding a savings account or for the interest you earn. However, some Chase savings accounts have monthly maintenance fees if you do not meet a minimum balance requirement—typically $300 to $500 depending on the account type. If you stay above the minimum, there is no fee.

What happens to my interest if I withdraw money mid-month?

Interest is calculated daily on your balance, so if you withdraw money on the 15th, you earn interest only on the balance you held from the 1st through the 14th. The interest for those days posts at the end of the month. You do not lose interest you have already earned, but you stop earning it on the withdrawn amount going forward.

Is the interest rate I see online the same rate I will get?

Not necessarily. Chase advertises rates for new customers, which may include a promotional rate for a limited time. Existing customers earn the standard rate, which is usually lower. Log into your account or call Chase to confirm the rate on your specific account.

Can I move my money to a different bank if Chase's rate is too low?

Yes. You can open a savings account at another bank and transfer your money there. The transfer takes one to three business days and does not require closing your Chase account. You can keep your Chase checking account and move only the savings portion if you want.

What if Chase lowers my interest rate?

Chase can lower rates at any time without your permission. You will not receive advance notice. The only way to protect yourself is to check your account regularly or move your money to a bank with a rate may provide or a rate that is currently higher. Some online banks lock in a rate for a set period, though those accounts are less common.