1. Chase Interest Bearing Savings Account
2. Bank Of America Savings Account

2020.10 Update: The previous offer is expired. The current offer is only $200 checking + $150 savings.

I've had a Chase checking account for many years, and in the last 2 years I've also had a Chase savings account, which I'm planning to cancel. My chief complaint against their savings account is the unreasonably high ($10) penalty fee I have to pay each time my account balance falls under $300.

• The Chase savings account bonus gives customers the chance to earn up to $200 just by opening an account and maintaining the minimum balance for 90 days. Chase bonus details Customers can earn.
• The Chase Savings product earns interest, allows access to ATMs and branches around America and also links to your Chase checking account. The Chase Plus Savings product includes all Chase Savings features plus: possibility of a higher interest rate and relationship rates when linked to a Chase checking account.

2020.8 Update: The offer $300 checking + $200 savings + $100 for both is back! HT: DoC.

Contents

Application Link

Mar 01, 2021 Earn a $150 bonus when you open a new Chase Savings SM account and deposit a total of $10,000 or more in new money within 20 days. You must also maintain a $10,000 balance for 90 days. Account Type: Chase Savings SM; Availability: Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. Chase offers savings accounts with yields that are next to nothing. Even the payout on its top-yielding account is low and would require you to jump through a series of hoops to get the best rate.

Chase Interest Bearing Savings Account

Benefits

1. New account opening bonus of $150! For details read below.
2. Monthly account maintenance fee of $5. See below on how to avoid paying this ridiculous fee.
3. If you close your account within 6 months, you’ll forfeit the bonus.
4. Interest rate (APY): a humiliating and laughable rate of 0.01%.

Bonus Requirements

1. This bonus is only available for new clients of Chase Savings Account. Those who are currently using Chase Savings, or those who have closed an account within 90 days are not eligible for the bonus offer. Those with a Chase Checking Account or a Chase credit card are still eligible.
2. You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account.
3. You’ll have to deposit within 20 business days at least $10,000 of “new money”. Your balance needs to stay at that amount for at least 90 days. “New money” means the money that does not come from any of your other Chase accounts.

How to Avoid the Monthly Maintenance Fee (Meet Any One of the Requirements Below)

1. Daily balance of at least $300 in this account.
2. Have one repeating automatic transfer of $25 or more from your personal Chase checking account.
3. Account holder is under 18 years of age.
4. Link any of the listed accounts: Chase Premier Plus Checking, Chase Premier Platinum Checking or Chase Private Client Checking account.

Summary

Let’s be honest – the interest rates that Chase is offering through their Savings Account is not desirable. I have no clue why someone would want to open a savings account here. In this instance, you might as well open a Savings Account with Chase for the sake of the bonus, but try not to violate any rules or conditions listed above, since Chase does in fact have pretty awesome credit cards. Just follow their rules, wait the 6 months, collect the bonus and you’re free to go up to $300 richer.

Related Accounts

• Chase Premier Plus Checking
• Chase Savings (this post)

Here is a comparison and contrast on the official website.

Historical Offers Chart

Application Link

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Open a Chase Certificate of Deposit

You must be an existing Chase checking customer to open online.

Open a CD account See rates and terms to fit your needs

Certificate of Deposit FAQ

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A certificate of deposit, or CD, is a deposit account with us for a specified period of time.

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$1,000

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We use the daily balance method to calculate interest on your CD. This method applies a periodic rate each day to your balance. Interest begins to accrue on the business day of your deposit. Interest for CDs is calculated on a 365-day basis, although some business CDs may calculate interest on a 360-day basis. The Annual Percentage Yield (APY) disclosed on your deposit receipt or on the maturity notice assumes interest will remain on deposit until maturity. On maturities of more than one year, interest will be paid at least annually. Please see the Deposit Account Agreement and rate sheet for further details.

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There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:

• If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
• If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
• For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
• If the withdrawal occurs less than seven days after opening the CD or making another withdrawal of principal, the early withdrawal penalty will be calculated as described above, but it cannot be less than seven days’ interest.
• The amount of your penalty will be deducted from principal.

See the Deposit Account Agreement and rate sheet for further details

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The maturity date is the last day of your CD’s term. The grace period begins the following day and lasts for 10 days – this is when you can make changes to your CD. Go to chase.com/cdmaturity to learn more about what options you have when your CD matures.

Find a Chase ATM or branch

To find a Chase ATM or branch near you, tell us a ZIP code or an address.

Open a Chase Certificate of Deposit

You must be an existing Chase checking customer to open online.

Open a CD account See rates and terms to fit your needs

Certificate of Deposit FAQ

expand

A certificate of deposit, or CD, is a deposit account with us for a specified period of time.

expand

$1,000

Bank Of America Savings Account

expand

We use the daily balance method to calculate interest on your CD. This method applies a periodic rate each day to your balance. Interest begins to accrue on the business day of your deposit. Interest for CDs is calculated on a 365-day basis, although some business CDs may calculate interest on a 360-day basis. The Annual Percentage Yield (APY) disclosed on your deposit receipt or on the maturity notice assumes interest will remain on deposit until maturity. On maturities of more than one year, interest will be paid at least annually. Please see the Deposit Account Agreement and rate sheet for further details.

expand

There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs:

• If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
• If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
• For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
• If the withdrawal occurs less than seven days after opening the CD or making another withdrawal of principal, the early withdrawal penalty will be calculated as described above, but it cannot be less than seven days’ interest.
• The amount of your penalty will be deducted from principal.

See the Deposit Account Agreement and rate sheet for further details

expand

The maturity date is the last day of your CD’s term. The grace period begins the following day and lasts for 10 days – this is when you can make changes to your CD. Go to chase.com/cdmaturity to learn more about what options you have when your CD matures.

Find a Chase ATM or branch

To find a Chase ATM or branch near you, tell us a ZIP code or an address.