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Keeping Your Savings at Chase? Here's the Shocking Amount You're Losing
['Sabrina Karl', 'Sabrina Karl Has Over Two Decades Of Experience Writing About Savings', 'Cds', 'Other Banking Topics. She Is Currently A Full-Time Staff Writer At Investopedia', "One Of The Country'S Top Experts On How To Earn As Much As Possible On The Money You Hold In The Bank. Before Joining Investopedia", 'Sabrina Wrote For Bankrate.Com', 'Creditcards.Com', 'Depositaccounts.Com', 'Learn About Our', 'Editorial Policies']
Investopedia | Expert Financial Advice and Markets News
Key Takeaways Keeping savings at Chase means earning just 0.01%—far less than the 4%–5% available at dozens of smaller banks.
The standard Chase savings rate is just 0.01%—that’s not 1%, it’s one one-hundredth of a percent.
If you keep $10,000 in a Chase savings account, that means you’d earn just $1 in interest over a whole year.
Instead, a high-yield savings account can help your money grow instead of losing ground to inflation.
Here's How Much Chase's Near-Zero Savings Rate Could Be Costing YouSo how much are you really losing by keeping savings at Chase with its 0.01% interest rate?