Chase's interest rates depend on the account type and change based on the Federal Reserve
Chase does not publish a single interest rate. Instead, the bank sets different rates for savings accounts, money market accounts, certificates of deposit (CDs), and loans — and all of them move up or down when the Federal Reserve changes its benchmark rate. The rate you see today will not be the rate you see in three months.
To find Chase's current rates, you need to visit chase.com directly or call your local branch. The rates vary by account type, by how much money you deposit, and sometimes by your location. A savings account at one Chase branch may offer a different rate than the same account type at another branch, though this is less common now than it was five years ago.
Key Takeaways
- Chase publishes different interest rates for savings accounts, money market accounts, CDs, and loans on its website, and these rates change when the Federal Reserve adjusts its policy rate.
- The rate you receive depends on the account type, the amount you deposit, and sometimes your location or whether you have other Chase products.
- Chase savings accounts typically earn less interest than online banks or credit unions, but offer the convenience of physical branches.
- CD rates at Chase are fixed for the term you choose, so a one-year CD will have a different rate than a five-year CD.
- Loan rates (mortgages, auto loans, personal loans) depend on your credit score, the loan term, and current market conditions, not just on what Chase decides.
How to find Chase's current savings and CD rates
Go to chase.com and look for the "Rates & Fees" or "Savings Rates" section. You will see the current Annual Percentage Yield (APY) for each product. Chase lists rates for its basic savings account, high-yield savings account (if available in your region), money market account, and CDs in different terms (3 months, 6 months, 1 year, 3 years, 5 years, and sometimes longer).
The rates shown online are usually the rates you will receive if you open an account today. However, if you already have an account, your rate may be different — especially if you opened it years ago. Chase does not automatically raise the rate on existing accounts when rates go up; you may need to move your money to a new product or ask your branch whether you can move to a current-rate account.
If you cannot find the information online, call Chase customer service at 1-800-935-9935 or visit a branch in person. A representative can tell you the exact rate for the account you want and whether any promotional rates are available.
Why Chase rates are usually lower than online banks
Chase is a full-service bank with physical branches, ATMs, and staff in every major city. That infrastructure costs money. Online banks like Ally, Marcus, or Discover have no branches, so they pass the savings to customers in the form of higher interest rates on savings accounts and CDs.
If you prioritize convenience — being able to walk into a branch, deposit cash, or speak to someone in person — you will accept a lower rate. If you prioritize the highest possible return on your savings, an online bank or credit union will usually beat Chase. The difference can be significant: as of early 2024, online savings accounts were earning 4% to 5% APY while Chase's basic savings account was earning less than 1% APY, though these rates shift frequently.
How Chase loan rates are set
Chase does not set a single mortgage rate, auto loan rate, or personal loan rate. Instead, the bank calculates your rate based on several factors: your credit score, the loan term (how long you have to repay), the current market rate for that type of loan, and sometimes the size of your down payment or whether you have other accounts at Chase.
Two people applying for the same mortgage on the same day may receive different rates because their credit scores are different. A person with a 750 credit score will receive a lower rate than a person with a 650 score. Similarly, a 15-year mortgage will have a lower rate than a 30-year mortgage, because the bank's risk is lower over a shorter time period.
To see what rate Chase would offer you, you can request a quote on chase.com or by phone. The quote is usually free and does not affect your credit score. If you are shopping for a mortgage or auto loan, get quotes from at least three lenders (Chase, a credit union, and one online lender) to compare.
The difference between APY and APR
Chase uses two different terms, and they mean different things. Annual Percentage Yield (APY) is what you earn on savings — it includes the effect of compound interest, meaning interest earned on your interest. Annual Percentage Rate (APR) is what you pay on debt — it includes the interest rate plus any fees the lender charges.
If Chase advertises a savings account at 4.5% APY, that is the total return you will receive in a year if you leave the money untouched. If Chase advertises a personal loan at 8.5% APR, you are paying 8.5% interest plus any origination fees or other costs built into that rate. Always compare APY to APY and APR to APR; do not mix them up.
When Chase rates change
Chase changes its rates when the Federal Reserve changes its benchmark interest rate, called the federal funds rate. The Fed meets eight times a year and can raise, lower, or hold rates steady. When the Fed raises rates, Chase typically raises its savings rates within days or weeks. When the Fed lowers rates, Chase typically lowers its savings rates just as quickly.
Loan rates move more slowly and less predictably because they are also influenced by market conditions and investor demand. A mortgage rate might stay the same even if the Fed raises rates, or it might move in the opposite direction if bond markets shift.
If you have a fixed-rate loan (mortgage, auto loan, or personal loan), your rate will never change — it is locked in for the life of the loan. If you have a variable-rate loan or line of credit, your rate can change, usually once a year or when the Fed moves.
Comparing Chase to other banks and credit unions
Chase is one of the largest banks in the United States, but it is not always the best choice for savings. The table below shows how Chase typically compares to other options:
| Account Type | Chase Typical Rate | Online Bank Typical Rate | Credit Union Typical Rate |
|---|---|---|---|
| Basic Savings | 0.01% to 0.05% APY | 4% to 5% APY | 2% to 4% APY |
| High-Yield Savings | 4% to 4.5% APY (where available) | 4.5% to 5.5% APY | 3% to 5% APY |
| 1-Year CD | 4% to 5% APY | 4.5% to 5.5% APY | 3% to 5% APY |
These are approximate ranges and change frequently. The rates shown are for informational purposes and may not reflect current rates at the time you read this. Check each institution's website for today's actual rates.
Frequently Asked Questions
Does Chase offer different rates for different account balances?
Chase's savings account rates are usually the same regardless of balance, but some promotional rates or special accounts may require a minimum deposit. CDs always require a minimum deposit, which varies by term — a 3-month CD might require $500 while a 5-year CD requires $1,000. Check the specific product page for minimums.
Can I negotiate my interest rate at Chase?
You cannot negotiate a savings account rate — it is set by the bank and applies to all customers. For loans, you can sometimes negotiate by shopping around and bringing competing offers to Chase, but the bank will not lower a rate just because you ask. Your credit score and the loan term are what determine your rate.
What happens to my rate if I move money between Chase accounts?
If you move money from a basic savings account to a high-yield savings account, your rate will change to the new account's rate. The change happens immediately. If you move money out of a CD before it matures, you will pay an early withdrawal penalty and lose the may provide rate.
How often does Chase update its rates?
Chase updates savings rates whenever the Federal Reserve moves, which happens up to eight times a year. Loan rates can change daily based on market conditions. Existing account rates do not change unless you move your money to a new product or the bank closes your account type and forces you to switch.
Is Chase's rate better than my credit union?
Most credit unions offer higher savings rates than Chase because they are member-owned and do not have the same overhead costs. However, credit unions may have fewer branches and ATMs, and some have membership restrictions. Compare the rates and convenience for your situation.