Chase Savings looks free until you read the fee schedule. The account charges a $5 monthly service fee, which adds up to $60 a year for savers who don't qualify for a waiver. The good news: the Chase bank savings account minimum balance requirement is just $300, and there are several other ways to skip the fee without keeping any minimum at all.
Here are the exact waiver rules as of July 2026, how Chase Premier Savings differs, and what your money actually earns while it sits there.
Chase Bank Savings Account Minimum Balance Requirements
Chase Savings waives its $5 monthly fee if you meet any one of these conditions during a monthly statement period, per Chase's fee schedule as of July 2026:
- A $300 balance at the beginning of each day. This is the headline minimum balance rule.
- $25 or more in repeating automatic transfers from a personal Chase checking account, including Autosave transfers set up on chase.com or the Chase Mobile app.
- Linking the account to a qualifying Chase checking account, such as Chase Premier Plus Checking or Chase Sapphire Checking.
- Linking to a Chase College Checking account that is enrolled in Overdraft Protection.
- Being an account owner under age 25.
One detail trips people up: the $300 test applies at the beginning of each day, not as a monthly average. Dip below $300 at the start of a single day and you can trigger the fee for that statement period.
The $25 Automatic Transfer: The Easiest Waiver
If keeping $300 parked feels tight, the cheapest workaround is a $25 monthly automatic transfer from your Chase checking account. That's $25 moving into your own savings, not a fee you pay. You keep the money, you build a savings habit, and the $5 charge disappears.
Set it up once in the Chase app, and make sure the transfer is repeating. One-time transfers don't count.
Chase Premier Savings Minimum Balance and Fees
Chase's step-up account, Chase Premier Savings, carries a $25 monthly fee. As of July 2026 you can avoid it two ways:
- Keep a $15,000 balance at the beginning of each day, or
- Link the account to a Chase Premier Plus Checking or Chase Sapphire Checking account.
Premier Savings advertises relationship rates, but the numbers stay modest. The standard rate has recently sat at 0.01% APY, with relationship rates reaching roughly 0.02% APY when you link a qualifying checking account and make at least five customer-initiated transactions per statement period. Rates vary by region and can change at any time.
Put plainly, a $15,000 balance earning 0.02% pays about $3 a year. The higher minimum doesn't buy meaningfully more interest.
What Chase Savings Actually Pays
Chase Savings has recently paid 0.01% APY on all balances, as of July 2026. At that rate:
- $300 earns about 3 cents per year
- $5,000 earns about 50 cents per year
- $10,000 earns about $1 per year
The minimum balance rules protect you from fees. They don't grow your money. That's the trade for branch access and same-app convenience with Chase checking.
Other Chase Savings Fees to Watch
- Savings Withdrawal Limit Fee. Chase charges $5 for each withdrawal beyond six per monthly statement period, as of July 2026, with certain exceptions such as withdrawals made at ATMs or with a banker.
- Opening deposit. You can open Chase Savings with no minimum deposit, though you'll want to fund it quickly to start a waiver.
Fee-Free Ways to Earn More on Savings
Chase's convenience is real, but savers focused on growth can pair or replace it with no-fee accounts that pay hundreds of times more interest.
Current charges no monthly fee and has no minimum balance to worry about. Members can earn up to 4.00% APY on savings with a qualifying direct deposit of $200 or more, plus paychecks up to two days early. On $5,000, that's up to $200 a year versus about 50 cents at Chase.
Current Banking
Current Banking
Current is a mobile-first banking app with no monthly fee and no minimum balance. Members can earn up to 4.00% APY with a qualifying direct deposit of $200, receive direct-deposit paychecks up to 2 days early, and overdraft up to $200 fee-free.
Standout feature
4.00% APY on Savings Pods (with a $200+ qualifying direct deposit) plus paycheck up to 2 days early — both included on the standard account for free
Fees
Free
Pros
$0 monthly fee; up to 4.00% APY on Savings Pods with qualifying direct deposit; paycheck up to 2 days early;
Cons
No physical branches
Chime is another fee-free option, advertising 3.75% APY on savings as of July 2026 along with early direct deposit and fee-free overdraft up to $200 for eligible members. Both apps hold deposits at FDIC-insured partner banks. Terms and conditions apply, and rates can change.
Chime
Chime
- Fee-free banking plus early pay access - Overdraft up to $200 without fees - 5% cash back and build credit everyday. - 3.75% APY on your savings.
Standout feature
No credit check, no interest, no annual fee, and no minimum deposit required.
Fees
$0
Pros
Fee-Free Banking and Get paid up to 2 days early
Cons
App/online-only support, no branches
Should You Keep Your Savings at Chase?
Chase Savings makes sense as a small buffer attached to your Chase checking, especially with the $25 automatic transfer waiver running. It makes less sense as the home for a full emergency fund, because the interest is close to zero.
A practical setup many savers use: keep one or two months of expenses at Chase for instant transfers, and let the rest earn 3% to 4% in a high-yield account. Check your balance today, set up the waiver that fits, and stop donating $60 a year in fees.
Frequently Asked Questions
What is the minimum balance for a Chase savings account?
Chase Savings needs a $300 balance at the beginning of each day to waive its $5 monthly service fee. There's no required minimum to keep the account open, but months where you miss all waiver conditions cost $5 each.
How can I avoid the Chase savings fee without keeping $300?
Set up $25 or more per month in repeating automatic transfers from your personal Chase checking account. Linking a qualifying Chase checking account or being under age 25 also waives the fee under Chase's current terms.
What is the minimum balance for Chase Premier Savings?
Premier Savings charges $25 a month unless you keep a $15,000 beginning-of-day balance or link a Chase Premier Plus or Sapphire Checking account. Its relationship rates also require a linked qualifying checking account plus five customer-initiated transactions per statement period.
Does Chase Savings pay good interest?
No. Chase Savings has recently paid 0.01% APY, which works out to about $1 a year on a $10,000 balance. Many online savings accounts pay 3% or more as of July 2026, so rate-focused savers usually keep only a convenience buffer at Chase.
