A high-yield savings account can help your money grow, but the headline rate is only one piece of the puzzle. Fees, APY, withdrawal rules, and taxes all play a role in what you actually keep.
Chase’s HYSA attracts attention for its brand and digital access, but it’s worth looking closely at the details. In this review, we’ll cover the current APY, account features, and potential drawbacks. We’ll also compare Chase with options like Smart Yield, money market funds, CDs, and short-term bonds.
By the end, you’ll have a better sense of whether Chase HYSA could be a good fit for your savings in 2025.
📌 Also read: High-Yield Savings Accounts vs. Treasury Bills vs. Smart Portfolios: What’s the Best Cash Move Now?
Chase HYSA 2025 Overview
Chase positions its high-yield savings account as a convenient option tied to its nationwide banking network. But when you look closely at the rates and mechanics, the numbers tell a different story. Here’s how the account stacks up in 2025.
Current APY and Compounding
The standard Chase Savings℠ account pays a base rate of 0.01% APY. Customers who qualify for the Premier Relationship tier (by linking certain Chase checking products and meeting balance or activity requirements) can earn 0.02% APY.
Interest is calculated on your daily balance, then compounded monthly and credited once per statement cycle. That means your balance grows gradually over time, but the effect is very limited at such low rates. For comparison, leading online banks today are paying closer to 4% APY, which highlights how Chase lags behind.
Promotional Rate Offers
Chase does not generally run special promotional APYs on its core savings account. The only notable boost comes through Premier Relationship rates, which is still capped at 0.02% APY. Some customers may see targeted offers, but they are typically tied to larger deposits or direct-deposit activity.
Past Rates and 2025 Outlook
Chase savings rates have stayed flat at 0.01% to 0.02% APY for years, even during periods when the national average savings rate climbed above 0.4% in early 2025.
Large banks like Chase generally rely on customer loyalty and broad service offerings (e.g., checking, credit cards, mortgages) rather than competing on savings yields.
With the Federal Reserve expected to keep benchmark rates steady through late 2025, Chase is unlikely to make significant changes to its HYSA rates. Savers who want a genuinely higher yield may need to compare Chase against online banks or alternative cash strategies.
How the Account Works
Before opening a Chase Savings℠ account, it helps to understand the basics: deposits, fees, transaction rules, and digital tools.
Minimum Deposit, Fees, and Waivers
Chase makes it easy to start, but ongoing fees are worth noting.
✅ Minimum opening deposit: $0 — you can open the account without funding it right away.
✅ Monthly service fee: $5, but it can be waived if you meet one of these conditions each statement period:
- Maintain a $300+ daily balance
- Schedule $25 or more in recurring Autosave transfers from a Chase checking account
- Link a Chase College Checking℠ for overdraft protection
- Be under age 18
- Hold a qualifying Chase Premier Plus Checking℠, Sapphire® Checking, or Private Client account
✅ ATM access: $0 at Chase ATMs, $3 per withdrawal at non-Chase ATMs in the U.S., and $5 internationally.
Withdrawals and Transfer Limits
Chase savings accounts no longer have the old six-withdrawal cap that Regulation D once required. That means:
✅ Unlimited withdrawals and transfers without penalties.
✅ Wire transfers & money orders:
- Incoming wires: $15 (free online or in the app)
- Outgoing domestic wires: $35 (or waived with Private Client checking)
- Outgoing international wires: $50
Online Banking, App, and Support
Chase offers a well-rounded digital experience along with in-person support.
✅ Digital tools: Manage accounts at chase.com or through the Chase Mobile® app (iOS & Android). Features include balance tracking, bill pay, Zelle® transfers, and Autosave.
✅ Customer support: Available 24/7 by phone (1-800-935-9935), plus secure in-app chat and an online education center.
✅ Security: FDIC insurance up to $250,000 per depositor, with multi-factor login and fraud alerts for extra protection.
Comparing Chase HYSA to Alternatives
Chase’s HYSA offers simplicity and FDIC coverage, but rates are low compared to other short-term savings vehicles. Below is a side-by-side look at how it stacks up against Carry’s Smart Yield, Vanguard’s Federal Money Market Fund, and Top 1-Year CD.
| Feature | Chase HYSA | Smart Yield (Carry) | Vanguard Federal MM (VMFXX) | Top 1-Year CD (HUSTL DCU) |
| APY | 0.01%–0.02% | Up to 4.77% tax-equivalent; 4.22% SEC yield | 4.21% 7-day SEC yield (as of Aug 18 2025) | 4.50% APY (1-year term) |
| Fees | No advisory fee; standard banking fees apply | 0.20% advisory fee (waived through 2025) + underlying fund expense ratios | No advisory fee; underlying fund expense ratio applies | No advisory fee; early-withdrawal penalty applies |
| Liquidity & Access | Instant, fee-free transfers within Chase; ATM access nationwide | Settles in 1–2 business days; 3–5 days to fully cash out | Same-day liquidity in most brokerage accounts (requires $3,000 minimum) | Funds locked for 1 year; early withdrawals incur penalties |
| Safety | FDIC-insured up to $250,000 | SIPC-protected up to $250,000 for cash; fund share values may fluctuate | No FDIC insurance but maintains $1 NAV; minimal credit risk | FDIC-insured up to $250,000 |
| Tax Efficiency | Interest taxed as ordinary income at federal, state, and local levels | Allocates into tax-efficient municipal/treasury funds to minimize your personal tax burden | Interest taxed as ordinary income | Interest taxed as ordinary income |
Other Savings Options in 2025 (Money Market, CDs, Treasuries)
Not all savings options work the same way. Beyond high-yield savings accounts, you could also consider money market funds, CDs, and Treasuries. Each offers different trade-offs in yield, liquidity, and risk, which makes them worth comparing side by side.
| Option | Typical Yield (2025) | Notes |
| Money Market Funds | ~4.22% (e.g., Vanguard Federal Money Market – VMFXX) | Daily liquidity, but fund shares may fluctuate slightly |
| Certificates of Deposit (CDs) | Top 1-year CD ~4.40% (NexBank, Prime Alliance); Median ~4.00% | Fixed rate, requires locking in funds |
| Short-Term U.S. Treasuries | ~4.12% (3-month T-bills, mid-August 2025) | U.S. government–backed; state/local tax-exempt; 3-month term with minimal price risk. |
Conclusion: Is Chase HYSA Worth It in 2025?
Chase’s high-yield savings account offers the security of FDIC insurance and instant access, but its near-zero APY may leave savers missing out on more competitive options. Money market funds, Treasuries, and CDs often provide stronger yields, though they come with trade-offs around access, rate flexibility, or potential risk.
If you simply want a dependable parking spot for emergency cash inside a trusted big bank, Chase HYSA can work. If maximizing returns is more important, exploring other savings vehicles may be worthwhile.
📌 To better understand how these alternatives stack up, check out our other articles comparing different savings and investment options:
Disclaimer:
The Carry Learning Center is operated by The Vibes Company Inc. (“Vibes”) and contains generalized educational content about personal finance topics. While Vibes provides educational content and technology services, all investment advisory services discussed on this website are provided exclusively through its wholly-owned subsidiary, Carry Advisors LLC (“Carry Advisors”), an SEC registered investment adviser. The information contained on the Carry Learning Center should not be construed as personalized investment advice and should not be considered as a solicitation to buy or sell any security or engage in a particular investment, accounting, tax or legal strategy. Vibes is not providing tax, legal, accounting, or investment advice. You should consult with qualified tax, legal, accounting, and investment professionals regarding your specific situation.
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