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Annual Percentage Yield (APY)
0.01% to 0.05% APY
Editor’s Rating
Annual Percentage Yield (APY)
0.01% to 0.05% APY
Editor’s Rating
Pros
- Earn slightly better APY with relationship rates
- Link to a Chase checking account for free overdraft protection
Cons
- Low APY
- $25 opening deposit
- $25 monthly fee
- Access to 16,000 ATMs and over 4,700 branches
- Earn a standard rate on 0.01% APY; Earn a relationship rate of 0.02% to 0.05% APY when you link to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking account AND make 5 monthly transactions from your linked checking account
- Waive $25 monthly maintenance fee when you maintain a $15,000 daily balance, OR when you link to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking account
- Chase Mobile® app: Manage your accounts, deposit checks, transfer money and more — all from your device
- Open your account online now
- Available online nationwide except in Alaska, Hawaii, and Puerto Rico. For branch locations, visit locator.chase.com
Is Chase trustworthy?
JPMorgan Chase & Co. is Chase’s parent company. The Better Business Bureau gives JPMorgan Chase & Co. an A+ in trustworthiness. A strong BBB rating indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent in how it handles business.
Although its BBB rating is good, JPMorgan Chase & Co. has dealt with a few scandals in the past few years. Here are some recent conflicts:
Similar banks, such as Wells Fargo and Bank of America, have their own history of public controversies.
Chase Premier Savings vs. Chase Savings
| Chase Premier Savings | Chase Savings |
|
APY 0.01% to 0.05% APY |
APY 0.01% effective as of 9/14/2020. Interest rates are variable and subject to change |
|
Monthly service fee $25 or $0 |
Monthly service fee $5 or $0 |
|
How to waive monthly fee One of the following each month: |
How to waive monthly fee One of the following each month:
|
The Chase Savings account only charges a $5 monthly fee instead of $25, and it’s much easier to waive.
Chase Premier Savings doesn’t have any significant benefits over Chase Savings. You have the potential to earn a slightly higher rate, but even Chase’s maximum rate is relatively low.
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