return to footnote reference¹Savings-account interest is compounded and credited monthly, based on the daily collected balance. Interest rates are variable and determined daily at Chase's discretion and are subject to change without notice. Balance tiers are applicable as of the effective date of these rates and may change at Chase's discretion. Account fees could reduce earnings. CD interest is fixed for the duration of the term and is compounded daily.

To find the best savings account bonus offers, we looked for the highest bonus amounts offered. Below, you’ll find the six biggest bonus offers on savings accounts being offered. Offers are current as of this publication date and we will update the article periodically to show the freshest ranking. Not necessarily. Some banks and credit unions offer savings accounts with respectable interest rates that rival the rates earned with CDs—but without the restrictions. We review more than 150 banks and credit unions every weekday to find the best savings rates and deals. Discover Bank offers a wide variety of accounts, including an Online Savings Account that pays 0.40% APY.  There’s no minimum deposit required, and you pay no monthly fees with that account. In fact, the only fee you should pay is an outgoing wire fee, if you choose to wire money. The UFB High Yield Savings account offers a top-tier yield, but it also requires a minimum balance of $25,000 to earn it. Balances below that tier earn 0 percent. The High Yield Savings account doesn’t carry a maintenance fee. SoFi Money is an online savings account that currently yields 0.25% APY and gives you free ATM access anywhere. They’re best known for student loan refinancing but their banking offer looks pretty good. They have two offers – a higher one if you have a direct deposit.

return to footnote reference²For Chase Premier Savings^SM: Earn Premier relationship rates when you link the account to a Chase Premier Plus Checking^SM or Chase Sapphire^SM Checking account, and make at least five customer-initiated transactions in a monthly statement period using your linked checking account. See interest rates.

Savings Text Message Program: Message and data rates may apply. For Help call 1-800-935-9935. Reply STOP to 33172 to no longer receive Chase Savings text messages until you provide your consent again. Mobile carriers not liable for delayed or undelivered messages.

IMPORTANT INFORMATION

The content of this page is informational only. Accounts are subject to approval. The terms of the accounts, including any fees or features, may change. See the Deposit Account Agreement and Additional Banking Services and Fees for the terms and conditions associated with these products.

Best Savings Account Offers Interest Rate

The following banks with large branch networks are offering cash promotions for new account holders. Some smaller banks or credit unions near you may also be offering their own promotions or matching these promotions.

Major Banks Offering Savings Promotions - Mar 6, 2021

Chase Savings Account

Rate Information: 0.01% APY on all balances.

Promotions:

• Chase sends postcards offering customers either $150 or $200 bonuses when they open a new Chase Savings account. To earn the bonus, you must deposit a total of $10,000 or more in new money within 10 days & maintain a $10,000 balance for 90 days. These offers are routinely extended to customers without postcards as well.
• Chase sends postcards offering certain targeted customers a higher bonus. Residents of Florida and Massachusetts routinely get postcards offering this same promotion with either a $300 bonus or a $500 bonus. Residents of certain zip codes in New York City (10021, 10023, 10024, 10028, 10128) and Los Angeles (90272, 90027. 90028 and 90038) may be targeted for a $600 bonus.
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Availability: AZ, CA, CO, CT, DC, FL, GA, ID, IL, IN, KY, LA, MA, MI, NJ, NV, NY, OH, OK, OR, PA, TX, UT, WA, WI, WV.

Cons:

• Chase Savings Accounts charge monthly fees including a $5 monthly fee that can be easily waived with a $15,000 daily balance. Chase also charges domestic wire fees, overdraft fees, and a statement fee of $6 per statement if you receive a paper statement.
• Chase charges $2.50 for any inquiries, transfers or withdrawals while using a non-Chase ATM in the U.S., OR $5 per withdrawal and $2.50 for any transfers or inquiries at ATMs outside the U.S.
• The interest rate on Chase savings accounts is just 0.01% as of early 2020.
• Bonuses are available to new Chase customers only.

Citibank Savings Account

Rate Information: Varies, but very low.

Promotions:

• The following promotions were offered by Citibank in 2019 and we have been informed that it may have been extended in certain branches for some customers into 2020:
• Existing Citibank customers who deposited $25,000 in funds from outside Citibank to a Citi Savings or Savings Plus account received a $700 bonus so long as the money is held for three months.
• New customers opening a Citi Priority Package Account with over $100,000 are eligible to receive a $600 bonus so long as the money is held for three months. The Citi Priority Package Account is a new program offering on-demand financial guidance, digital tools and benefits designed to match those of Chase Private Client services.
• New customers opening a Citibank Account Package with a savings account and a checking account and funding it with $15,000 are eligible to receive a $400 bonus so long as the money is held for three months. Some customers may not be eligible.

Availability: Nationally

Cons:

• Citibank Savings Accounts charge monthly fees that may or may not be easily waived.
• Citibank also charges fees for inquiries, transfers or withdrawals while using a non-Citibank ATM in the U.S., and any ATMs outside the U.S.
• The interest rate on Citibank savings accounts is not competitive.

Bank Of America Savings Account

Rate Information: 0.03% APY on all balances.

Promotions:

• Get a $100 bonus when you open a Bank Of America Savings account in-branch with $10,000 minimum deposit.

Best High Yield Savings Account Offers

Availability: Nationwide

Cons:

Best Savings Account Offers Bonus

• Bank of America may charge monthly fees and for the use of out-of-network ATMs
• The interest rate on savings accounts at Bank of America is not competitive.

Best Savings Account Offers Promotions