Chase offers high-yield savings through two main products, but the rates are lower than many online banks
Chase has two savings accounts that market themselves as higher-yield options: the Chase Savings Account (their standard product) and the Chase Premier Savings Account (for customers with higher balances). Neither pays what you would get from an online bank like Marcus, Ally, or American Express Personal Savings. As of early 2025, Chase's rates sit around 0.01% on standard savings and roughly 0.04% to 0.05% on Premier Savings, depending on your balance tier. Online banks regularly offer 4.00% to 5.00% on the same money.
The trade-off is convenience: if you have a Chase checking account and visit branches regularly, keeping savings at Chase means one login and no transfers between banks. If you are chasing the highest rate your money can earn, Chase is not the place to look.
Key Takeaways
- Chase's highest-paying savings account is Premier Savings, which pays roughly 0.04% to 0.05% depending on your balance, far below online bank rates of 4.00% to 5.00%.
- Chase Savings (the standard account) pays around 0.01%, making it one of the lowest rates in the market.
- You do not need a Chase checking account to open a Chase savings account, but most people who do are already checking customers.
- Chase savings accounts have no monthly fees, no minimum balance requirement to open, and FDIC insurance up to $250,000.
- If rate is your priority, moving money to an online savings account takes 3 to 5 business days but can earn you thousands more per year on large balances.
How Chase Premier Savings works and who qualifies
Chase Premier Savings is the account Chase pushes when you ask about higher rates. To open one, you need to maintain a combined balance of $75,000 across your Chase deposit accounts (checking, savings, money market, or CDs). The rate you receive depends on which tier you hit: $75,000 to $249,999 gets you one rate, $250,000 to $999,999 gets you a higher one, and $1,000,000 and above gets the top tier.
The catch is that these tiers do not move the needle much. Even at the highest tier, Chase Premier Savings rates remain well below what online banks offer with no balance requirement at all. If you have $75,000 to $100,000 sitting in savings, you are paying for the privilege of staying with Chase through a lower rate.
The account itself works like any savings account: you can make up to six transfers or withdrawals per month before fees kick in (though this rule is less enforced than it once was). There is no monthly maintenance fee, and your money is FDIC insured up to $250,000.
Why Chase rates lag behind online banks
Chase has physical branches, customer service phone lines, and ATM networks. Those cost money. Online banks like Marcus, Ally, and American Express have no branches and minimal overhead, so they pass the savings to depositors through higher rates. When the Federal Reserve raised interest rates sharply between 2022 and 2023, online banks raised their savings rates almost when ready. Chase moved slowly, and the gap widened.
Chase also does not need to compete aggressively on savings rates because most of their customers are there for checking, credit cards, or mortgages. A customer with a Chase checking account and a mortgage is unlikely to move their savings to another bank just for a rate bump, so Chase has less incentive to match online competitors.
What to do if you want a higher rate but want to stay with Chase
If you want to keep your primary banking relationship at Chase but earn more on savings, move money to a Chase Money Market Account instead. Money market accounts at Chase typically pay slightly more than savings accounts—though still far below online rates—and they function similarly to savings accounts for most purposes.
A better option is to open a high-yield savings account at an online bank and link it to your Chase checking account. You keep your paycheck, bill payments, and daily spending at Chase, but move money you are not using when ready to the online account. Transfers between banks take 3 to 5 business days, so this works best if you are not moving money constantly. On a $50,000 balance, the difference between Chase's 0.04% and an online bank's 4.50% is roughly $2,200 per year.
Comparing Chase savings to other banks in the same category
| Bank | Account Type | Current Rate (approx.) | Minimum Balance to Open | Monthly Fee |
|---|---|---|---|---|
| Chase | Savings | 0.01% | $0 | None |
| Chase | Premier Savings | 0.04%–0.05% | $75,000 combined | None |
| Marcus | High-Yield Savings | 4.30%–4.50% | $0 | None |
| Ally | Online Savings | 4.20%–4.35% | $0 | None |
| American Express | Personal Savings | 4.30%–4.50% | $0 | None |
Rates change monthly and vary slightly by bank and account tier. The table above shows the general landscape as of early 2025. Chase's rates have remained flat for years while online competitors adjust monthly. If you opened a Chase savings account five years ago and never moved the money, you have been earning roughly 0.01% the entire time.
FDIC insurance and safety at Chase
Chase is a major bank backed by FDIC insurance, which means your money up to $250,000 per account type is protected if the bank fails. This is the same protection you get at online banks like Marcus and Ally. Safety is not a reason to choose Chase over an online bank—both are equally find.
If you have more than $250,000 in savings, you can open multiple accounts at Chase (or at different banks) to keep each one under the insurance limit. Some people split large balances across Chase and an online bank to maximize both insurance coverage and interest earned.
Frequently Asked Questions
Can I move money from Chase savings to a high-yield account without closing my Chase account?
Yes. You can keep your Chase savings account open and transfer money to another bank's high-yield account. The transfer takes 3 to 5 business days. You do not have to close anything at Chase, and you can move money back anytime if you need it.
Do I need a Chase checking account to open a Chase savings account?
No. You can open a Chase savings account on its own. However, most people who do already have a Chase checking account, and the bank makes it straightforward to link them together for transfers.
What happens if my balance drops below $75,000 in Premier Savings?
Your account converts to a standard Chase Savings Account, and your rate drops to the standard rate (around 0.01%). There is no penalty or fee for dropping below the threshold—the rate just changes automatically.
Are online banks as safe as Chase?
Yes. Online banks like Marcus, Ally, and American Express are FDIC insured just like Chase. Your money is equally protected up to $250,000 per account type at either type of bank.
If I move my savings to an online bank, how do I access my money in an emergency?
You can transfer money back to your Chase checking account in 3 to 5 business days, or you can use the online bank's debit card or ATM network (many online banks reimburse ATM fees). For true emergencies, keeping a small amount in your Chase savings account is reasonable, but the bulk of your savings can earn more elsewhere.