Chase savings accounts do not have a universal minimum balance requirement, but the specific rule depends on which Chase savings product you open

Chase offers several savings accounts with different structures. The Chase Savings Account (their standard option) has no minimum balance to open or maintain. You can deposit $1 and keep the account active without penalty. However, Chase also offers the Chase Premier Savings account, which requires a $10,000 minimum balance to earn their highest interest rate tier — if your balance falls below that, you earn a lower rate instead.

The account you end up with depends on how you open it and what you link it to. If you open a basic Chase Savings Account online or in branch, there is no minimum. If you already have a Chase checking account and link a savings account to it, you still have no minimum on the savings side. The Premier version is less common and typically requires you to ask for it or to have a higher relationship with Chase (such as a linked Premier Checking account).

Key Takeaways

  • Chase Savings Account has no minimum balance requirement to open or keep the account open.
  • Chase Premier Savings requires $10,000 to earn the highest interest rate, but you can keep the account open below that threshold at a lower rate.
  • Falling below any minimum does not close your account — it only changes the interest rate you earn.
  • You can confirm which account type you have by logging into your Chase account online or calling Chase customer service at the number on your card.

How to find out which Chase savings account you have

Log into your Chase online account or mobile app and look at your account details. The account name will appear next to your account number — it will say either "Savings Account" or "Premier Savings." If you are unsure, call the customer service number on the back of your Chase debit card or visit a Chase branch with your ID.

If you have a Premier Savings account and want to switch to the standard Savings Account with no minimum, you can request the change through your online account, by phone, or in person at a branch. Chase will not charge you to make this switch.

What happens if your balance drops below the minimum

If you have a Premier Savings account and your balance falls below $10,000, your account stays open — you simply earn a lower interest rate. Chase does not close the account, charge a fee, or require you to take action. Your money remains accessible, and you can withdraw or deposit at any time.

The interest rate difference can be meaningful if you keep a large balance, but if you are carrying less than $10,000, the standard Savings Account is a better fit because the rate structure is the same regardless of your balance.

Interest rates and how they connect to minimum balance

Chase Savings Account interest rates change based on the Federal Reserve's actions and market conditions — Chase updates rates periodically, and the rate you earn does not depend on your balance. You earn the same percentage whether you have $10 or $10,000.

Chase Premier Savings offers a higher rate if you maintain $10,000 or more. If your balance is below that threshold, you earn the standard rate (which is the same as the regular Savings Account). This structure means the minimum is really a threshold for a rate bonus, not a requirement to keep the account.

Fees that are separate from minimum balance rules

Chase Savings accounts do not charge a monthly maintenance fee, regardless of your balance. There are no fees for inactivity, no fees for low balance, and no fees for transfers between your Chase accounts.

You may incur fees if you exceed the number of transfers or withdrawals allowed per month (currently six per month for savings accounts under federal rules, though this limit has been relaxed in recent years). Fees also apply if you overdraft your linked checking account or if you use an out-of-network ATM and Chase charges you for it. None of these are tied to your savings account minimum balance.

Moving money between Chase accounts without minimum balance concerns

You can transfer money between your Chase Savings and Chase Checking accounts as often as you need without triggering any minimum balance penalties. If you are worried about falling below a minimum, you can move money from checking to savings to bring the balance up, or move it the other way if you need cash.

Transfers between your own Chase accounts are free and usually happen immediately online or within one business day if you initiate them by phone or in branch.

Frequently Asked Questions

Can I open a Chase Savings account with $0?

Yes. The standard Chase Savings Account has no minimum to open. You can open it online with $0 and deposit money later, or deposit $1 when you open it. There is no penalty for starting with a very small balance.

Will Chase close my savings account if I don't use it?

Chase does not close savings accounts for inactivity. You can leave money in a Chase Savings account untouched for months or years and the account will remain open. However, if an account shows no activity for an extended period, Chase may eventually close it and send you the balance — the exact timeframe varies, so contact Chase if you have an old account you have not used.

What is the difference between Chase Savings and Chase Premier Savings?

The main difference is the interest rate structure. Premier Savings offers a higher rate if you keep $10,000 or more; below that, the rate matches the standard Savings Account. Both have no monthly fees. Most people use the standard Savings Account unless they specifically want the Premier version.

If I have $9,999 in Premier Savings, do I lose money?

No. Your account stays open and your money is safe. You simply earn the standard interest rate instead of the Premier rate. You can deposit $1 more to reach $10,000 and earn the higher rate, or leave it as is — there is no penalty either way.

Can I have multiple Chase Savings accounts?

Yes. You can open more than one savings account with Chase. Each account is separate, and each has its own minimum balance rules (or lack thereof). Some people use multiple accounts to organize money for different goals.