Chase saver account (2024)

FAQs

What is Chase Saver account? ›

Bank with Chase and you can open a saver account. It'll give you 4.1% AER (4.02% gross) variable interest, which we'll calculate daily and pay monthly – directly into your saver account. You can start saving with as little as you like, and as much as £1m. Chase saver account T&Cs apply. Chase current account required.

Chase savings accounts have low annual percentage yields. The Chase Savings℠ account rate is 0.01% effective as of 02/10/2023. Interest rates are variable and subject to change.

As of May 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.

Payments out of the account

You can make as many withdrawals as you like with no penalties.

Is Chase safe? Chase is regulated by the Financial Conduct Authority (FCA) and customer deposits of up to £85,000 (£170,000 for joint accounts) are protected under the Financial Services Compensation Scheme (FSCS). This means, if Chase went out of business, the FSCS would step in to cover up to this threshold.

Account details include:

$5 monthly service fee or $0 with one of the following, each monthly statement period: A balance at the beginning of each day of $300 or more in this account.

A few disadvantages of Chase Bank are low interest rates and APYs, monthly service fees, and wire transfer fees on some accounts.

Where can I get 7% interest on savings? ›

Regular Saver Account. 7% Interest Savings - first direct.

Institutions such as HDFC Bank, ICICI Bank, and State Bank of India (SBI) are known for their attractive interest rates and substantial branch networks. Kotak Mahindra Bank is known for its digital financial services, whereas Axis Bank provides flexible savings alternatives.

No, Chase doesn't have high-yield savings accounts. This type of account generally offers APYs above 4%, and Chase offers 0.01% or 0.02%.

If you plan to take advantage of high interest rates this year, you might be wondering if your high-yield savings account interest is taxable. The answer is yes, but these types of accounts can offer the potential for significant savings, so don't let that discourage you from opening one.

Checking accounts are better for regular transactions such as purchases, bill payments and ATM withdrawals. They typically earn less interest — or none. Savings accounts are better for storing money. Your funds typically earn more interest.

Savings accounts offer one of the simplest ways to earn interest on the money you have. They offer higher interest rates than a regular checking account, while still making it easy to spend and withdraw money. However, savings account rates are much lower than other investments, and they don't keep pace with inflation.

A balance at the beginning of each day of $300 or more in this account. OR, $25 or more in total Autosave or other repeating automatic transfers from your personal Chase checking account (available only through chase.com or Chase Mobile^® app)