$25 Monthly Service Fee, Low Rates

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 & Cons
  • Details

  • 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:

    • Minimum daily balance of $300
    • $25 or more in automatic transfers from Chase checking
    • Linked to Chase College Checking℠ account for overdraft protection
    • An account owner is under age 18
    • Linked to qualifying Chase checking accounts

    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.