Chase does not market a true high-yield savings account. The bank offers Chase Savings and Chase Premier Savings, but both pay APYs measured in hundredths of a percent, not the 4% to 5% range you can find at online banks.
This guide explains what Chase actually offers in savings, why the APYs are so low, and the best HYSA alternatives for someone who wants to keep a Chase checking relationship.
Chase Savings Account Options
Chase offers two main savings products for personal customers:
- Chase Savings: $5 monthly fee (waivable), APY around 0.01%.
- Chase Premier Savings: $25 monthly fee (waivable), APY tiered up to roughly 0.02% with relationship bonus.
Both fees waive with a minimum balance or qualifying activity (like a linked Chase checking account or recurring transfer).
Why Chase APY Is So Low
Big national banks like Chase have so many branches and customers that they do not need to compete on rate. They earn savers through convenience and brand familiarity, not yield.
Online banks, by contrast, have low overhead, and they pass savings to depositors as a higher APY. That is why Marcus, Amex, and others can pay 100x what Chase Savings pays.
Chase Savings vs Online HYSA
Run the comparison on $10,000:
- Chase Savings at 0.01%: $1 in interest after 1 year.
- Online HYSA at 4.5%: $450 in interest after 1 year.
The $449 gap is not a marketing claim. It is the difference between two APYs sitting next to each other in 2026.
Best Setup if You Bank With Chase
Many people want Chase for its branch network, ATM map, and mobile app, but want online-bank APY for savings. The standard setup:
- Keep a Chase checking account for bills and ATM access.
- Open an online HYSA at a separate online bank.
- Set up monthly transfers from Chase checking to the online HYSA.
- Pull money back to Chase checking only when you need to spend it.
If you tend to run a low Chase balance, an app like Brigit can warn you before an upcoming bill drops Chase below the cutoff and trigger a fee.
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Chase CDs as an Alternative
Chase does offer CDs, but the standard CD APY is also very low (often under 2%). Relationship-rate CDs (where you have a Chase checking account in good standing) can pay 4% or more for some terms, especially for promotional offers.
Always compare a Chase CD APY to an online bank CD before locking in. The difference can be 1.5 percentage points or more on a 1-year term.
Chase Savings and Credit Building
Opening a Chase savings account does not affect your credit score. Chase pulls ChexSystems, not a credit bureau.
If you also need to build credit, a separate product is the right tool. Firstcard's credit builder card reports on-time payments to all three bureaus and works alongside any Chase or external bank account.
Frequently Asked Questions
Is Chase Savings worth opening?
Only if your priority is convenience and you keep small balances. For real savings (anything above $1,000), an online HYSA earns dramatically more interest.
How do I waive the Chase Savings monthly fee?
Options include: keep a $300 minimum daily balance, set up a $25 minimum recurring transfer, link to a qualifying Chase checking account, or have account holders under 18.
Does Chase ever launch high-APY promos?
Yes. Chase periodically offers checking and savings sign-up bonuses ($200 to $900) that can effectively boost first-year returns, but the ongoing APY is still very low.
Can I link a Chase account to an online HYSA?
Yes. Most online banks let you link an external account by trial-deposit verification or instant verification. Once linked, you can move money in either direction in 1 to 3 business days.
