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Chase Savings account review

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A simple savings account with low fees and an automatic savings program to help your money grow.

finder.com’s rating: 3.3 / 5.0


Growing a savings account can help you reach short- and long-term financial goals. With the Chase Savings, you’ll earn interest while your money is kept safe. New customers can even qualify for a cash bonus. You may get dinged with a monthly service fee, however, and Chase only has branches in 28 states.



$5 per month



Minimum deposit to open


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 Chase Premier Plus Checking, Chase Sapphire Checking or Chase Private Client Checking account
Minimum deposit to open$0
Intro or bonus offerGet a $150 bonus when you open a new account, deposit $10,000 or more in new money within 20 business days and maintain a $10,000 balance for 90 days. Or get $350 when you also open a Chase Total Checking account. Offer valid through April 20, 2020.
Minimum balance to earn interest$0
Interest compoundingDaily
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Expert review

Peter Carleton

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 offers low waivable monthly fees and it’s best for those who have at least $300 in their account.

But the interest rate is 0.01%, which is lower than the competition.

Chase Banking Chase Banking

$350 signup bonus when you open both checking and savings accounts

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Chase Banking Chase Banking

$150 signup bonus when you open a new account

Last verified

What are the benefits of the Chase Savings account?

  • Bonus offer. Deposit $10,000 within 20 business of opening your account — and maintain that balance for 90 days — and get a $150 bonus. There’s also additional bonus money for opening a savings and checking account together.
  • 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.
  • Security. Chase is the largest bank in the country and is FDIC-insured, meaning that deposits up to $250,000 are covered by FDIC deposit insurance.
  • Bill pay. Make one-time or recurring payments from your account online or with your mobile device.
  • Wide-ranging support. Chase has nearly 5,000 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.
  • Account alerts. You’re alerted by text, email and push notifications when there is a charge, refund or other transaction on your account.
  • Text banking. This feature allows you to check account balances, view credit card bills and more — all from your phone.
  • Mobile payments. Use the Chase mobile app to send money to friends or family through QuickPay with Zelle.

What should I look out for?

  • 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.
    • Link your account to a Chase Premier Plus Checking, Chase Sapphire Checking or Chase Private Client Checking account.
  • Low interest rate. This account pays 0.01% APY while your money sits in your account.
  • Withdrawal limits. More than six withdrawals per month can cost you $5. Chase can convert your account to a Total Checking account if you often exceed this amount.
  • Limited availability. Although Chase has nearly 5,000 branches, it only operates in 28 states.

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

Compare with other savings accounts

Name Product Interest rate (APY) Fee Minimum deposit to open
Barclays Online Savings
Earn 20x the national savings account average with no fees or minimums.
American Express® Personal Savings High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
BBVA Money Market
$15 per month
(can be waived)
Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
UFB Direct High Yield Savings
Earn a competitive rate with a balance higher than $10,000.
CIT Bank Savings Builder High Yield Savings Account
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
Radius Bank High-Yield Savings
A free high-interest savings account with a $100 minimum deposit to open
Chase Savings
$5 per month
(can be waived)
Get a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 20 business days and maintain a $10,000 balance for 90 days. Or get $350 when you open both a Chase Savings and Chase Total Checking account. Available online nationwide except in Alaska, Hawaii and Puerto Rico.

Compare up to 4 providers

What states does Chase have branches in?

  • 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 apply?

You can open a Chase Savings by visiting a branch with your government-issued ID and a way to fund your deposit or by applying online.

1. Visit the Chase site and click Savings accounts & CDs.
2. Click Open account under Chase Savings.
3. Fill in your personal information including your name, address and Social Security number, then click Next.
4. Once your application is complete, make your initial $25 deposit.
5. After your deposit is made, submit your application.
Chase savings account screenshot


The only eligibility requirement is a $0 deposit to open the account.

To get the $150 introductory bonus, you must be a new Chase customers and deposit $10,000 within 20 business days — and maintain that balance for 90 days.

Required information

Whether you apply online or at a branch, you’ll need to provide the following info to open an account:

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

How do I deposit or withdraw money?

Chase makes it easy 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?

  • 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 nearly 5,000 branches
  • On Twitter: @ChaseSupport
  • By mail: National Bank By Mail, P O Box 36520, Louisville, KY 40233-6520

Frequently asked questions

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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