The Ultimate Guide to Chase Savings Accounts [Personal & Business Customers]

Updated: January 12, 2024, 10:09am CST

Edited by:

The Ultimate Guide to Chase Savings Accounts [Personal & Business Customers]

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Chase is a powerhouse in the financial industry. The institution estimates that fully half of the households in the United States do business with their company.

It’s no wonder — with nearly 4,900 branches, 16,000 ATMs, and mobile banking, they’re certainly accessible!

Chase’s broad collection of product offerings also fit the monetary needs of nearly every business or household. From their stellar credit card offerings, mortgages, and auto financing to loans and payment processing, Chase really does it all.

And when it comes to savings accounts, you’ll find not only general savings accounts but specially designed accounts tailored for businesses and military families.

If you don’t already bank with Chase or have one of their credit cards that earn travel rewards points or cash-back, you’ll also find that Chase offers incentives for opening a new bank account or signing up for one of their cards.

Today, we’re going to focus on Chase savings accounts, and cover the following in this article:

Why you’d want a savings account with Chase
Your savings account choices
Special savings account features for military members
Chase savings account options for businesses
How to earn cash for opening accounts and for referrals

The Benefits of a Chase Savings Account

Does it really matter which bank you chose for opening a savings account? Generally, it does if you’re looking to receive the highest interest rate possible.

With overall savings interest rates so low, however, there can be other compelling reasons for selecting a particular financial institution.

Chase stands out for a combination of reasons:

Nearly 4,900 branches and 16,000 ATMs
FDIC insured
Competitive interest rates
Mobile deposits
Online and mobile banking
24/7 customer support and account alerts
Pay just about anyone with Zelle^® and Chase QuickPay
Paperless statements
Account benefits for military members and the Military Survivor program
Relationship benefits, such as higher interest rates and fee waivers
Strong rewards-earning credit card offerings

While interest rates are certainly a primary factor in selecting a financial institution, relationship benefits should also be a consideration.

Chase digital tools — Chase savings accounts offer convenient digital tools to manage your account. Image Credit: Chase

Types of Chase Savings Accounts

Chase offers a few choices when it comes to savings accounts, but it’s easy to select a perfect match due to the specific account deposit requirements.

Chase Savings℠

The basic Chase Savings℠ account is the most popular and the easiest to open.

Bonus Offer: Enjoy a $150 bonus when you open a new Chase Savings^SM 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
Minimum Deposit: $0
Monthly Service Fee: $5
Additional Fees: $5 per withdrawal and $2.50 for any transfers or inquiries at ATMs outside the U.S., Puerto Rico and the U.S. Virgin Islands and fees from the ATM owner still apply.

Waiving the Monthly Service Fee: The monthly service fee will be waived when you complete one of the following:

The balance at the beginning of each day is $300 or more OR
You have at least 1 recurring transfer of $25 or more from Chase checking or Chase Liquid (prepaid) card OR
A Chase College Checking℠ account linked to this account for Overdraft Protection OR
The individual is under 18 OR
The account is linked to a Chase personal checking account (excluding Chase High School Checking℠, Chase Secure Checking℠, and Chase Checking℠)

The Chase Savings account is best utilized as a companion account for a Chase checking account. This is because monthly service fees are waived just for having a reoccurring transfer of only $25 or more per month.

Bottom Line: A Chase Savings℠ Account is best paired with a Chase checking account to eliminate monthly service fees and receive the highest interest rates possible on Chase savings accounts.

Chase Premier Savings Account

Minimum Deposit: $100
Monthly Service Fee: $25
Additional Fees: $5 savings withdrawal fee, per withdrawal or transfer, applied after 6 withdrawals per statement period

Waiving the Monthly Service Fee: It is possible to avoid the monthly service fee by completing one of the following:

The balance at the beginning of each day is $15,000 or more OR
Link the savings account to Chase Premier Plus or a Chase Sapphire℠ Checking account

The benefit of having a Chase Premier Savings account over a basic Chase Savings account is a better interest rate.

Currently, the Premier Savings account pays between .04% and .11% depending on the balance in the account. This rate is for customers who have a linked checking account and meet relationship requirements.

Hot Tip: Federal regulations limit withdrawals or transfers from each savings account to 6 per statement period. Fortunately, withdrawals and transfers made in person at a Chase branch or at an ATM do not count toward this limit.

Chase Savings for Military Families

Military Marines — Chase offers special savings account benefits for military members. Image Credit: Marine Corps Cpl. Matthew Kirk

Those who have served or currently serve in our military (including the National Guard) receive special Chase savings account benefits:

No monthly service fee on Chase personal savings accounts linked with a Chase checking account

If your paycheck is direct deposited into your Chase checking account, you will receive these additional savings account benefits:

No non-Chase ATM withdrawal fees
No Chase foreign transaction fees on ATM transactions worldwide
No Chase fees for wire transfers (either incoming or outgoing)

Even more Chase military banking benefits apply to Chase checking accounts.

Additionally, Chase complies with the Military Lending Act and charges no annual fees for personal credit cards such as the Chase Sapphire Preferred^® Card and Chase Sapphire Reserve^®.

Hot Tip: Chase offers a Military Survivor program that eliminates the debt of military customers who have been killed in combat action or died as a result of military service. The types of debt that qualify include Chase mortgages, auto loans, credit cards, student loans, and consumer/business debt. Call 877-469-0110 for more information.

Chase Certificates of Deposit

Another form of short- or long-term savings is a certificate of deposit. Saving money in a Chase CD is simple, and there are no service fees.

Available from 1 month to 10 years in length
$1,000 minimum
.02% to 1.75% interest rate depending on the term and the amount deposited
No service fees

Customers who have an existing checking account that is linked to a Chase savings account receive higher relationship interest rates on their CDs.

You can access current interest rate information here.

Chase Personal Rewards-Earning Credit Cards

Pairing your Chase savings or checking account with a rewards-earning credit card ensures you’ll be earning valuable Ultimate Rewards Points or cash-back on every purchase.

POPULAR FIRST CARD

Chase Sapphire Preferred^® Card

U.P. Rating

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.

Learn More(at Chase's secure site)

Chase Sapphire Preferred^® Card

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.

Welcome OfferEarn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
60,000 points

UP's Bonus Valuation*:
$1,200

Annual Fee

$95

APR

21.49%-28.49% Variable

Credit Recommended

Good to Excellent (670-850)

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros

5x points on all travel booked via the Chase Travel portal
5x points on select Peloton purchases over $150 (through March 31, 2025)
5x points on Lyft purchases (through March 31, 2025)
3x points on dining purchases, online grocery purchases, and select streaming services
2x points on all other travel worldwide
$50 annual credit on hotel stays booked through the Chase Travel portal
6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
Excellent travel and car rental insurance
10% annual bonus points
No foreign transaction fees
1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt

Cons

$95 annual fee
No elite benefits like airport lounge access or hotel elite status

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
Enjoy beneﬁts such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
Member FDIC

Financial Snapshot

APR: 21.49%-28.49% Variable
Foreign Transaction Fees: None

Card Categories

Rewards Center

Chase Ultimate Rewards

Chase Sapphire Reserve^®

U.P. Rating

A top player in the high-end premium travel credit card space that earns 3x points on travel and dining while offering top luxury perks.

Learn More(at Chase's secure site)

Chase Sapphire Reserve^®

A top player in the high-end premium travel credit card space that earns 3x points on travel and dining while offering top luxury perks.

Welcome OfferEarn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel.
60,000 points

UP's Bonus Valuation*:
$1,200

Annual Fee

$550

APR

22.49%-29.49% Variable

Credit Recommended

Excellent (740-850)

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve^® is one of the best options out there.

The card combines elite travel benefits and perks like airport lounge access, with excellent point earning and redemption options. Plus it offers top-notch travel insurance protections to keep you covered whether you’re at home or on the road.

Don’t forget the $300 annual travel credit which really helps to reduce the annual fee!

Pros

10x total points on hotels and car rentals when you purchase travel through Chase TravelSM immediately after the first $300 is spent on travel purchases annually
10x points on Lyft purchases March 31, 2025
10x points on Peloton equipment and accessory purchases over $250 through March 31, 2025
5x points on airfare booked through Chase Travel^SM
3x points on all other travel and dining purchases; 1x point on all other purchases
$300 annual travel credit
Priority Pass airport lounge access
TSA PreCheck, Global Entry, or NEXUS credit
Access to Chase Luxury Hotel and Resort Collection
Rental car elite status with National and Avis

Cons

$550 annual fee
Does not offer any sort of hotel elite status

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
$300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
1:1 point transfer to leading airline and hotel loyalty programs
Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck^®
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
Member FDIC

Financial Snapshot

APR: 22.49%-29.49% Variable
Foreign Transaction Fees: None

Card Categories

Rewards Center

Chase Ultimate Rewards

Chase Savings Accounts for Businesses

Keep personal and business savings separate with a Chase business savings account. Image Credit: Chase

Chase Business Total Savings Account

If you operate a small business, every dollar counts. Chase’s Business Total Savings Account works for small businesses that want to keep business banking costs under control.

Minimum Deposit: $25
Monthly Service Fee: $10

Additional Fees:

$5 savings withdrawal fee, per withdrawal or transfer, applied after 6 withdrawals per statement period
15 free cash deposits/up to $5,000 per statement period

Waiving the Monthly Service Fee: The monthly service fee will be waived if you complete one of the following:

Maintain a minimum ledger balance of $1,000
Link a Chase Total Business Checking account

Hot Tip: If you’re opening a business savings account, but have yet to open a business checking account, there are a few great business checking accounts from Chase that might be a great fit for you.

Chase Business Premier Savings Account

Minimum Deposit: $25
Monthly Service Fee: $20

Additional Fees:

$5 savings withdrawal fee, per withdrawal or transfer, applied after 6 withdrawals per statement period
30 free cash deposits/up to $10,000 per statement period

Waiving the Monthly Service Fee: The monthly service fee can be waived by completing either of the following:

Having $25,000 or more in qualifying business deposit accounts
Linking a Chase Performance Business Checking or Chase Platinum Business Checking account

Currently, Chase Business Savings accounts earn between .06% and .13% in interest depending on the balance in the account. This rate is for customers who have a linked Chase business checking account and meet relationship requirements.

Chase Business Certificates of Deposit

If your business is generating excess cash, you might consider a Chase certificate of deposit. Chase offers business CDs with terms that range from 1 month to 10 years and offer the following features:

A fixed rate of return
Higher balances can earn a better interest rate
FDIC insured

Interest rates vary of course, but currently, you can expect to receive relationship interest rates of .02% to 1.75% depending on the amount and length of the CD.

You can access current interest rates for business savings accounts and business CDs here.

Chase Business Rewards-Earning Credit Cards

Whether you’re a small business just starting out or an established business with generous cash flow, a rewards-earning Chase business credit card can help you manage your expenses more effectively.

You’ll be earning valuable points or cash-back that can help offset travel expenses or put cash back into your business bottom line.

NEW OFFER

Ink Business Preferred^® Credit Card

U.P. Rating

The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.

Learn More(at Chase's secure site)

Ink Business Preferred^® Credit Card

The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.

Welcome OfferEarn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel
100,000 points

UP's Bonus Valuation*:
$2,000

Annual Fee

$95

APR

21.24%-26.24% Variable

Credit Recommended

Good to Excellent (670-850)

The Ink Business Preferred^® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.

Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.

Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.

Pros

3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
Cell phone protection
Purchase protection
Trip cancellation and interruption insurance
Rental car insurance
Extended warranty coverage

Cons

No elite travel benefits like airport lounge access

Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
Points are worth 25% more when you redeem for travel through Chase Travel℠
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Member FDIC

Financial Snapshot

APR: 21.24%-26.24% Variable
Foreign Transaction Fees: None

Card Categories

Rewards Center

Chase Ultimate Rewards

Ink Business Cash^® Credit Card

U.P. Rating

This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.

Learn More(at Chase's secure site)

Ink Business Cash^® Credit Card

This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.

Welcome OfferEarn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
Up to $750

UP's Bonus Valuation*:
Up to $750

Annual Fee

APR

0% intro APR on purchases for 12 months; 18.49% - 24.49% variable thereafter.

Credit Recommended

Good to Excellent (670-850)

The Ink Business Cash^® Credit Card has a lot going for it that makes it a compelling choice for small business owners. The card features a very lucrative 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year.

When you factor in that the card has no annual fee, and 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter, you could be adding big value back into your business for no cost out of pocket.

Pros

Earn 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year
Earn 2% back on up to $25,000 spent in combined purchases at gas stations and restaurants, and 1% back on all other purchases
10% Business Relationship Bonus if you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary
Travel insurance and purchase protection
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Employee cards at no additional cost
No annual fee

Cons

Spending caps in bonus categories
Low points earning outside of bonus categories
3% foreign transaction fees

Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards^®.
0% introductory APR for 12 months on purchases
Member FDIC

Financial Snapshot

APR: 0% intro APR on purchases for 12 months; 18.49% - 24.49% variable thereafter.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars

Card Categories

Rewards Center

Chase Ultimate Rewards

Ink Business Unlimited^® Credit Card

U.P. Rating

The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.

Learn More(at Chase's secure site)

Ink Business Unlimited^® Credit Card

The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.

Welcome OfferEarn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
$750

UP's Bonus Valuation*:
$750

Annual Fee

APR

0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter

Credit Recommended

Good to Excellent (670-850)

As a business owner, you likely keep pretty busy and probably prefer a credit card that just keeps things simple.

If so, the Ink Business Unlimited^® Credit Card might be just the card for you. From zero annual fee to a flat cash-back rate, the card is a no-frills option that you don’t have to think twice about.

Don’t forget too, 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter

Pros

1.5% cash-back on all purchases
No annual fee
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Employee cards at no additional cost
Earn flexible rewards

Cons

3% foreign transaction fee

Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
Earn unlimited 1.5% cash back on every purchase made for your business
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards^®.
Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
0% introductory APR for 12 months on purchases
Member FDIC

Financial Snapshot

APR: 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Foreign Transaction Fees: 3% of each transaction in U.S. dollars

Card Categories

Rewards Center

Chase Ultimate Rewards

Ink Business Premier^® Credit Card

U.P. Rating

Earn up to 5% cash-back for your business without complex bonus earning categories!

Learn More(at Chase's secure site)

Ink Business Premier^® Credit Card

Earn up to 5% cash-back for your business without complex bonus earning categories!

Welcome OfferEarn $1,000 bonus cash-back after you spend $10,000 on purchases in the first 3 months from account opening.
$1,000

Annual Fee

$195

APR

Flex for Business Variable APR: 19.49% - 27.49%

Credit Recommended

Good to Excellent (670-850)

Chase has introduced the Ink Business Premier^® Credit Card to its business credit card lineup. With straightforward cash-back earnings on everyday purchases and large expenses, tools to help you monitor your business, and multiple ways to redeem your rewards, this is a great card option to consider.

Pros

Earn 2.5% total cash-back on purchases of $5,000 or more
Earn 2% cash-back on all other business purchases
Unlimited 5% total cash-back on travel purchased through Chase Travel
No foreign transaction fees
Trip cancellation and trip interruption insurance
No additional cost for employee cards
Cell phone protection
Primary rental car coverage
Purchase protection
Extended warranty coverage

Cons

$195 annual fee
Some purchases need to be paid in full each month and don’t qualify for Flex for Business APR
Rewards cannot be pooled with Chase cards that offer access to transfer partners

Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Travel℠, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
The only business credit card with 2.5% cash back on every purchase of $5,000 or more.
Get the buying power you need to make large purchases, cover monthly expenses and help your business grow. While you must pay your Pay In Full balance each month, this card has built-in flexibility. The Flex for Business feature allows for qualifying purchases to be paid over time with interest.
Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
There's no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
Member FDIC

Financial Snapshot

APR: Flex for Business Variable APR: 19.49% - 27.49%
Foreign Transaction Fees: None

Card Categories

Chase Private Client Savings Account

Chase Private Clients (those who maintain a $250,000 average balance with Chase) receive unprecedented benefits.

One of those benefits is that there are no monthly service fees on any savings account that is linked to a Chase Private Client checking account.

Hot Tip: For more information on the benefits of being a Chase Private Client and the qualification process, access our complete guide.

Earning Cash Bonuses With Chase

Chase New Account Bonuses

Opening a new Chase savings account can earn you money!

Whether you open your account online or in your local Chase branch office, bonus incentives can be significant — even exceeding any potential first-year interest earnings.

To receive a new account bonus, you’ll need to have a coupon code applied to your application.

Visit Chase and open your savings account online, or request a coupon code be emailed to you. You can then take the emailed coupon into your local branch to open your account.

Chase account coupon — Apply online or take your coupon into a local branch to qualify for a new account bonus. Image Credit: Chase

In order to earn a bonus for opening a savings account, you’ll need to meet some requirements. These normally include:

Depositing a specific amount within the first 10-20 days (can vary) after account opening. The amount is usually $10,000 or more but could vary.
Maintain the required balance for a specific period of time, typically 90 days.

The money you use to open the account cannot come from another Chase account. After you have met the requirements, your bonus will be deposited into your account within 10 days.

Opening a Chase checking account can also earn a bonus, and there may be no deposit requirements. Other requirements such as ongoing direct deposit or a certain amount of transactions can apply.

Bottom Line: You may be able to earn a cash bonus by opening a Chase savings account. The deposit requirement is usually quite high, but the bonus you receive may be more than the amount of interest you would generally earn in the first year!

Make Money by Referring Friends

Chase referral — Earn up to $500 cash per year with referrals. Image Credit: Chase

Once you have a Chase Savings account, you can refer your friends and receive cash bonuses. You can earn up to 10 bonuses per year — that’s as much as $500 cash deposited into your account!

To invite your friends to open a Chase account, click on the refer-a-friend link and enter your name, zip code, and the last 4 digits of your debit card.

You’ll receive a special customized link to share with your friends via email. You can invite up to 25 friends per day.

You can also send an email invitation directly from the Chase site by entering your friend’s first name and email address. However, this email can take 3-5 days to be sent.

Friends who open an account using your link also receive any applicable new account bonuses when meeting the associated new account requirements.

Hot Tip: Chase bank account bonuses are treated as income. You will receive a 1099 income form for the amount of the bonus to report at tax time.

Final Thoughts

A long-term relationship with Chase can be a valuable financial partnership. And establishing this relationship with Chase can certainly begin with the initial foundation of opening both a savings and checking account.

Their banking products are solid and offer the convenience of online and mobile banking, which are necessities today.

But one of the best aspects of establishing a relationship with Chase is access to their credit card portfolio, where you can earn valuable Ultimate Rewards Points and cash-back while enjoying a variety of travel benefits.

Chase excels both in their credit card offerings and their banking product portfolio.

The information regarding Chase Savings℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

Featured Image Credit: Cultura Allies via Adobe Stock

Frequently Asked Questions

Is Chase good for savings accounts?

Chase is a reputable financial institution and a fine choice for opening a savings account.

To maximize the benefits of a Chase savings account, however, you’ll want to also have a Chase checking account.

Having Chase checking and savings accounts linked can eliminate monthly service fees and assure you’re getting the highest interest rate offered by Chase.

Does Chase give you money for opening an account?

Chase frequently offers bonuses for opening new accounts, both savings and checking.

Typically, you must deposit a significant amount of money when opening a savings account and maintain that balance for a 90-day period.

The cash bonus you receive, however, could be more than the interest you would typically earn during the first year.

For example, you may earn a $150 bonus for opening an account with $10,000. If the interest APY is .9%, you would receive $90 in interest.

The bonus can offer a significant return in addition to the interest you receive during the first year.

Keep in mind that bonuses are also taxable as income.

Do Chase savings accounts earn interest?

Yes, Chase savings accounts do earn interest. You will earn at least .01% on your Chase savings account.

If you have another relationship account with Chase such as a Chase checking account, you can link it to your savings and you may receive a higher interest rate.

Interest rates on savings accounts also vary depending on the balance in your account.

Do Chase savings accounts charge fees?

The short answer is yes, but you may be able to have those fees waived.

For example, with a Chase Savings account, having just a $300 balance in your account at the beginning of each day during the statement period will waive the monthly $5 service fee.

You can also avoid a monthly service fee on your Chase Savings account by having as little as $25 per month automatically transferred from your Chase checking account.

The Chase Premier Savings account waives the monthly statement fee if you link a qualifying checking account or have a $15,000 balance at the beginning of each day during the statement period.

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About Christine Krzyszton

Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.

INSIDERS ONLY: UP PULSE^™