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Chase Savings account review

Has low fees and an automatic savings program to help your money grow.’s rating: 3.3 / 5.0


The information about Chase Savings has been collected independently by Finder and has not been reviewed or provided by the issuer.

The Chase Savings account has a $0 opening deposit and an automatic savings program that helps you reach your financial goals even faster. But the APY is only 0.01%, which is much lower than other savings accounts, and it has a waivable monthly fee for eligible customers.

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$5 per month



Minimum deposit to open


Annual percentage yield (APY)0.01%
Fee$5 per month
To waive the fee• Maintain a balance of at least $300 at the beginning of each day
• OR initiate at least one monthly automatic transfer of $25 or more from a Chase checking account
• OR be younger than 18 years old
• OR link your account to a Better Banking Checking, Premier Checking, Premier Plus Checking, Sapphire Checking, or Private Client Checking.
Minimum deposit to open$0
Intro or bonus offerEarn a $150 bonus when you open a new Chase Savings account, deposit at least $10,000 in the first 20 days and maintain a balance of $10,000 for 90 days
Minimum balance to earn interest$0.01
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$5

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The Chase Savings account is best for those who can maintain a minimum $300 balance to avoid the monthly fee.

This account’s biggest draw is its Automatic Savings Program, which lets you set up recurring transfers from your Chase checking account.

But the interest rate for this account is only 0.01%, which is almost nonexistent. For comparison, the average savings account earns around 0.07% interest and the best high-yield accounts earn around 1%. Some even come with welcome bonuses too.

Unless you’re loyal to Chase, you could earn more in a high-yield savings account with no monthly fee.

How do I open a Chase Savings account?

Open a Chase Savings by visiting a branch or by applying online. Here’s how to apply online:

  1. Go to the provider’s site and follow the steps to apply.
  2. Select Open an account on Chase’s website.
  3. Choose Savings Accounts.
  4. Select Open an account under Chase Savings.
  5. Declare whether you’re a new or returning customer and hit Next.
  6. Fill in your personal information, including your name, address and Social Security number, then select Next.
  7. Complete your application, make an optional deposit, then select Submit.


Open a Chase Savings account when you meet these requirements:

  • At least 18 years old
  • Valid Social Security number
  • US residential address

Required information

You’ll need this information when opening an account:

  • Name
  • Date of birth
  • Address
  • Government-issued ID
  • Social security number — or passport for foreign applicants
  • Income information

Compare Chase Savings to similar accounts

We gathered a quick comparison of similar accounts to help you decide if Chase Savings is right for you. For more options, select Compare accounts to compare even more savings accounts.

Chase Savings

UFB Best Savings


Finder rating 3.3 / 5


Finder rating 5 / 5

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$5 per month







Minimum deposit to open


Minimum deposit to open


Minimum balance to earn interest


Minimum balance to earn interest


Chase savings account interest rate: How much will I earn?

This table shows how much interest you’d earn with a Chase Savings account if you were to make a $1,000 initial deposit, then contribute $100 a month for up to five years.

AccountAPY1 year2 years3 years4 years5 years
Chase Savings account0.01%$0.16$0.43$0.83$1.34$1.98

What are the benefits of the Chase Savings account?

The Chase Savings account is backed by the financial security of the largest bank in the country. It comes with FDIC insurance, mobile banking and these benefits:

  • Automatic Savings Program. This feature allows you to set up a repeating, automatic transfer from your Chase checking account to your Chase Savings, helping you grow your savings faster.
  • No opening deposit requirement. You can open this account without an initial deposit.
  • Convenient deposits. Deposit money at branches, ATMs, by mail, online or through the app using Chase QuickDeposit.
  • Wide-ranging support. Chase has more than 4,700 branch locations and offers 24/7 customer service. You can also get in touch by email, mail and Twitter, or find FAQs on the Chase site.

What should I look out for?

The Chase Savings account has these potential drawbacks:

  • Monthly service fee. You’ll pay $5 monthly. But the fee can be waived if any of the following apply to you:
    • Maintain a balance of at least $300 at the beginning of each day.
    • Initiate at least one monthly automatic transfer of $25 or more from a Chase checking account.
    • Are younger than 18 years old.
    • Use this account for overdraft protection to a linked Chase College Checking account.
    • Link your account to an eligible Chase checking account.
  • Low interest rate. This account pays 0.01% APY while your money sits in your account.
  • Limited availability. Although Chase has more than 4,700 branches, it only operates in 28 states.

If you prefer a higher yield interest rate, keep looking. As always, consider your options when choosing a savings account.

What states does Chase have branches in?

Chase has branch locations in these states:

  • Arizona
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Massachusetts
  • Michigan
  • Nevada
  • New Jersey
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Texas
  • Utah
  • Virginia
  • West Virginia
  • Wisconsin

How do I deposit or withdraw money?

Chase offers plenty of options to deposit and withdraw money with this account:

  • At a branch
  • Via direct deposit
  • At an ATM
  • Through online transfers
  • By mail
  • With Chase QuickDeposit
  • At an ATM
  • At a branch
  • Through online transfers

How can I get in touch with customer service?

There are several ways to reach Chase customer support:

  • By phone (24/7): 1-800-935-9935.
  • By email: Sign in to your account and use the Secure Message Center.
  • In person: Visit one of Chase’s more than 4,700 branches.
  • On Twitter: @ChaseSupport.
  • By mail: National Bank By Mail, P O Box 36520, Louisville, KY 40233-6520.

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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