Chase interest rates depend on the account type and change based on the Federal Reserve

Chase does not publish a single interest rate. Instead, the bank sets different rates for different accounts—savings accounts, money market accounts, and CDs each have their own rates. Those rates also move up and down when the Federal Reserve changes its benchmark rate, which it does several times a year. Right now, you can see Chase's current rates on their website, but the number you see today may be different next month.

The rate you actually earn also depends on your account balance. Chase offers higher rates on larger balances in some accounts, and lower rates on smaller ones. A savings account with $500 in it earns less than one with $50,000. This tiered structure means you need to check both the rate and the balance threshold to know what you will actually earn.

Key Takeaways

  • Chase publishes current rates on their website, but rates change when the Federal Reserve adjusts its benchmark rate, typically several times per year.
  • Different account types—savings, money market, and CDs—have different rates, and rates often vary by balance tier within the same account type.
  • Chase savings and checking accounts typically earn less interest than online banks or credit unions, so comparing rates across institutions matters if interest income is your goal.
  • CD rates are fixed for the term you choose, so a one-year CD locks in a different rate than a five-year CD, even at the same bank.

Where to find Chase's current rates

Visit Chase.com and look for the rates page, usually labeled "Savings Rates" or "Deposit Rates." You will see a table showing the current annual percentage yield (APY) for each account type. The page updates when rates change, but it does not show historical rates or predict future ones. If you want to compare, take a screenshot or write down the rate on the day you check.

You can also call Chase customer service at 1-800-935-9935 or visit a branch in person. A banker can tell you the exact rate for your account type and balance level. Phone rates and in-person rates are the same—Chase does not offer different rates by channel.

How Chase rates compare to other banks

Chase savings accounts typically earn less interest than online banks like Marcus, Ally, or American Express Personal Savings. As of recent years, online banks often offer rates that are two to four times higher than Chase's rates on the same account type. This is because online banks have lower overhead costs and pass some of that savings to customers through higher rates.

Credit unions often offer competitive rates as well, especially if you are a member. If earning interest is important to you, compare Chase's rate to at least one online bank and one credit union before deciding where to keep your money. The difference compounds over time, especially on larger balances.

Understanding CD rates and terms at Chase

Chase offers certificates of deposit (CDs) in terms ranging from three months to five years. Each term has its own rate, and longer terms usually pay more. A five-year CD at Chase will have a higher rate than a three-month CD, but your money is locked in for five years. If you withdraw early, you pay a penalty—typically three to six months of interest, depending on the term.

CD rates are fixed, meaning they do not change during the term. If you lock in a rate today and the Federal Reserve cuts rates next month, your rate stays the same. This can work in your favor if rates fall, but it works against you if rates rise. Check Chase's CD rates alongside their savings account rates to decide which makes sense for your timeline.

Why Chase rates move when the Federal Reserve acts

The Federal Reserve sets a benchmark interest rate that influences what all banks pay on deposits and charge on loans. When the Fed raises its rate, banks typically raise the rates they offer on savings accounts and CDs. When the Fed cuts its rate, banks usually cut deposit rates too. Chase follows this pattern, though the timing and size of Chase's rate changes do not always match the Fed's moves exactly.

The Fed meets eight times a year to decide on rate changes. You can follow these meetings on the Federal Reserve's website to get a sense of when Chase rates might move. However, Chase can change rates at any time, even between Fed meetings, so checking the Chase website every few months is the most reliable way to stay current.

Checking accounts and interest at Chase

Most Chase checking accounts earn little to no interest. The Chase Total Checking account, for example, earns 0.01% APY on balances under $25,000 and slightly more on larger balances, but the amount is negligible. If you want to earn meaningful interest, use a savings account, money market account, or CD instead of a checking account.

Chase does offer a high-yield savings product called Chase Savings, which earns more than their basic savings account, but it still typically lags behind online banks. Read the account terms carefully to see which account type offers the rate you want.

What happens to your rate if you move money or close an account

If you transfer money between Chase accounts, your rate does not change—it stays tied to the account type, not the money itself. If you close a savings account and open a new one, the new account gets whatever rate Chase is offering at that moment, which may be higher or lower than your old rate.

If you move money out of Chase to another bank, Chase stops paying you interest on that money. The new bank will pay interest based on their rate and your balance tier. There is no penalty for moving money between banks, but you may lose a few days of interest during the transfer process.

Frequently Asked Questions

Does Chase offer different rates for different states?

No. Chase rates are the same nationwide. A savings account in California earns the same rate as one in New York. However, state tax laws may affect how much interest you keep after taxes, so check your state's tax treatment of savings interest.

Can I lock in a rate before it changes?

For CDs, yes—once you open a CD, your rate is locked for the full term. For savings accounts, no. Savings account rates can change at any time, and Chase can lower your rate without your permission. If you want a may provide rate, open a CD instead.

What is the minimum balance to earn interest at Chase?

It varies by account type. Some Chase savings accounts require no minimum balance to earn interest, while others require $300 or more. Check the specific account's terms on Chase.com or ask a banker for the exact minimum.

How often does Chase compound interest?

Chase compounds interest daily and credits it monthly on most savings accounts. This means you earn interest on your interest, but the compounding happens automatically—you do not need to do anything. The APY shown on their website already accounts for daily compounding.

Will Chase rates go up or down next?

No one can predict rate moves with certainty. Chase rates follow the Federal Reserve's decisions, which depend on inflation, employment, and economic conditions. Watch the Federal Reserve's website for meeting announcements, but remember that even the Fed does not commit to future rate moves.