Chase Bank Money Market Rates: All You Need to Know

Chase Bank does not offer a traditional money market account to new customers. This is a significant point for savers considering Chase for their banking needs. Historically, Chase provided money market accounts, but these have been phased out in favor of other deposit products like savings accounts and CDs. This shift aligns with Chase’s broader strategy to streamline its offerings and focus on products like the Chase Savings℠ and Chase Premier Savings℠ accounts, as well as its certificate of deposit options.

However, Chase does provide access to money market funds through its J.P. Morgan Wealth Management division, specifically via self-directed investing accounts. It’s critical to distinguish between money market accounts and money market funds, as they are fundamentally different financial products. Money market accounts are FDIC-insured deposit accounts, while money market funds are investment vehicles that are not FDIC-insured and carry a degree of risk, albeit low. For the purposes of this article, we’ll focus primarily on deposit accounts and touch on money market funds where relevant.

Why Doesn’t Chase Offer Money Market Accounts?

The absence of a traditional MMA at Chase may be attributed to several factors:

Competitive Landscape: The rise of online banks and credit unions offering high-yield savings accounts and MMAs with annual percentage yields (APYs) exceeding 4% has put pressure on traditional banks like Chase. These institutions often provide lower rates due to higher overhead costs from maintaining extensive branch networks.
Product Simplification: Chase may have discontinued MMAs to simplify its product lineup, focusing on savings accounts and CDs that cater to different saver needs. This allows the bank to market clear distinctions between low-yield, accessible savings accounts and fixed-rate CDs.
Focus on Investment Products: Through J.P. Morgan Wealth Management, Chase promotes money market funds as an alternative for clients with investment accounts. These funds often provide competitive yields, though they lack the FDIC insurance of a traditional MMA.

Chase’s Alternative Deposit Products

Since Chase does not offer money market accounts, let’s explore the alternatives available to savers:

1. Chase Savings℠ Account

APY: As of February 2023, the Chase Savings℠ account offers an APY of 0.01%, according to NerdWallet. Rates may have changed slightly by May 2025, but they remain significantly below the national average for savings accounts (0.47% as per Bankrate’s latest survey).
Features: This is a basic savings account with no minimum balance requirement to open. However, a $5 monthly fee applies unless certain conditions are met, such as maintaining a $300 daily balance or linking to a qualifying Chase checking account.
Accessibility: Funds are easily accessible via online banking, mobile app, ATMs, or in-branch transactions. The account integrates seamlessly with Chase’s highly rated mobile banking platform.

2. Chase Premier Savings℠ Account

APY: The relationship rate for Chase Premier Savings℠ is 0.02% for customers with linked Chase checking accounts, as reported by NerdWallet in 2023. This rate is still well below competitors’ offerings.
Features: This account is designed for customers with higher balances or those who maintain qualifying Chase checking accounts (e.g., Chase Premier Plus Checking or Chase Sapphire Banking). A $25 monthly fee applies unless a minimum daily balance of $15,000 is maintained or the account is linked to a premium checking account.
Relationship Benefits: Customers with linked accounts may earn slightly higher “relationship rates,” though the difference is marginal.

3. Chase Certificates of Deposit (CDs)

APY: Chase CD rates vary by term and balance. As of 2025, Investopedia notes that Chase offers rates up to 4.0% for a two-month CD for customers with linked checking accounts and high balances (e.g., $100,000). Longer-term CDs and standard rates for non-customers are significantly lower, often below 1%.
Features: CDs require a minimum deposit of $1,000 and have fixed terms ranging from one month to ten years. Early withdrawal penalties apply, making CDs less flexible than MMAs or savings accounts.
Best For: Savers who can lock away funds for a specific period and want a guaranteed rate.

4. J.P. Morgan Premium Deposit

APY: This FDIC-insured deposit product, offered through J.P. Morgan Wealth Management brokerage accounts, claims to provide rates up to seven times the national average for savings accounts. Exact rates are not publicly disclosed and vary based on economic conditions and account eligibility.
Features: Requires a minimum deposit of $100,000 and a maximum of $3 million per account. Funds are accessible same-day through a J.P. Morgan advisor, offering flexibility for high-net-worth clients.
Eligibility: Available only to U.S.-domiciled clients with eligible brokerage accounts, making it less accessible than standard deposit accounts.

Comparing Chase’s Offerings to the Market

To understand how Chase’s deposit products stack up, let’s compare them to the broader market, focusing on money market accounts and high-yield savings accounts from other institutions. According to recent data:

National Average MMA APY: Bankrate reports the national average MMA APY at 0.47% as of April 2025. Top MMAs, however, offer rates up to 4.40% (e.g., Brilliant Bank, Zynlo Bank, First Foundation Bank).
High-Yield Savings Accounts: Online banks like Vio Bank, SoFi, and Marcus by Goldman Sachs offer APYs ranging from 4.0% to 5.0%, often with no minimum balance requirements or monthly fees.
Chase’s Rates: With savings account APYs of 0.01% to 0.02% and CD rates topping out at 4.0% for short-term, high-balance accounts, Chase’s offerings are notably uncompetitive for savers seeking high yields.

Why the Gap?

Chase’s lower rates can be attributed to its business model. As a traditional bank with over 4,700 branches and 15,000 ATMs, Chase incurs significant operational costs. Online banks, with minimal physical infrastructure, can pass savings to customers through higher APYs. Additionally, Chase’s focus on full-service banking—offering credit cards, mortgages, and investment services—means it may prioritize customer retention through convenience and brand loyalty over competitive deposit rates.

Money Market Funds at Chase

For clients interested in money market-like investments, Chase offers money market funds through J.P. Morgan Self-Directed Investing accounts. These funds, such as the JPMorgan Prime Money Market Fund, aim to maintain a stable $1 per share net asset value (NAV) and invest in short-term, low-risk securities like Treasury bills, commercial paper, and municipal bonds.

Yield: As of April 2025, Chase reports an average yield of 3.89% for money market funds, based on the Crane Retail Money Fund Index 7-day SEC yields. This is competitive with some high-yield savings accounts but carries the risk of principal loss, as these funds are not FDIC-insured.
Features: Accessible through brokerage accounts with unlimited commission-free trades on stocks, ETFs, and mutual funds. Funds can be used to park excess cash while earning modest returns.
Risks: Unlike MMAs, money market funds are subject to market fluctuations, though they are considered low-risk. Investors must review the fund’s prospectus for details on fees, risks, and objectives.

Should You Choose Chase for Your Savings?

Deciding whether to use Chase’s deposit products depends on your financial goals, banking preferences, and risk tolerance. Here are some pros and cons:

Pros

Convenience: Chase’s extensive branch and ATM network, combined with a top-rated mobile app, makes banking accessible.
Variety of Products: From checking accounts to CDs and investment options, Chase offers a one-stop shop for financial needs.
FDIC Insurance: Savings accounts, CDs, and J.P. Morgan Premium Deposits are FDIC-insured up to $250,000 per depositor, per account category.
Bonuses: Chase occasionally offers cash bonuses for new account openings, such as $1,200 in 2023 for certain accounts, though terms apply.

Cons

Low Rates: With APYs as low as 0.01% for savings accounts, Chase lags behind online banks and credit unions.
No Money Market Accounts: The absence of MMAs limits options for savers seeking higher yields with checking-like features.
Fees: Monthly fees on savings accounts ($5–$25) can erode earnings unless waivers are met.
High Minimums: Products like J.P. Morgan Premium Deposit require substantial deposits ($100,000), excluding many savers.

Alternatives to Chase for Money Market Accounts

If you’re specifically seeking a money market account, several institutions offer competitive options as of 2025:

Brilliant Bank: Offers a 4.40% APY with no monthly fees, per Investopedia. Ideal for savers comfortable with online-only banking.
Zynlo Bank: Provides a 4.40% APY and full deposit insurance through FDIC and Depositors Insurance Fund (DIF) for balances above $250,000.
Discover Bank: Yields 3.50% APY for balances under $100,000 and 3.55% for higher balances, with check-writing and debit card privileges.
Quontic Bank: Offers a 4.25% APY across all balance tiers, with access to over 90,000 ATMs and no maintenance fees.

For those open to high-yield savings accounts, consider:

Vio Bank Cornerstone Money Market Savings: Up to 4.40% APY with a $100 minimum deposit and no monthly fees if paperless billing is selected.
SoFi Checking/Savings: Offers up to 5.0% APY with features like automatic savings roundups.

Strategies for Maximizing Your Savings

Whether you bank with Chase or explore alternatives, here are strategies to optimize your savings:

Shop Around: Compare APYs from multiple institutions. Online banks and credit unions often outpace traditional banks.
Ladder CDs: If you choose Chase CDs, create a CD ladder to balance liquidity and yield, staggering maturities across different terms.
Minimize Fees: Avoid accounts with high maintenance fees or ensure you meet waiver requirements.
Consider Money Market Funds: For those comfortable with slight risk, Chase’s money market funds may offer better returns than savings accounts.
Monitor Rate Changes: With the Federal Reserve expected to cut rates in 2025, per Forbes, stay informed about APY fluctuations to lock in high rates when possible.

Conclusion

Chase Bank remains a powerhouse in the financial industry, offering a wide range of products and services backed by a robust branch network and digital platform. However, its lack of a traditional money market account and low APYs on savings accounts (0.01%–0.02%) and CDs (up to 4.0% for select terms) make it less appealing for savers seeking competitive returns. Alternatives like Brilliant Bank, Zynlo, and Discover offer MMAs with APYs up to 4.40%, while high-yield savings accounts from online banks can reach 5.0%.

For Chase customers, the J.P. Morgan Premium Deposit and money market funds provide options for higher yields, but they come with high minimums or investment risks. Ultimately, your choice depends on whether you prioritize convenience and brand familiarity with Chase or higher returns from other institutions. By comparing rates, minimizing fees, and aligning your savings strategy with your financial goals, you can make the most of your cash reserves in 2025.