Banking » Compare Banks » Chase Savings vs Capital One 360 Performance Savings: Compare Side By Side
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Chase Savings vs Capital One 360 Performance Savings: Compare Side By Side

Capital One Savings provides a significantly higher savings rate when compared to Chase. Let's explore the features and additional benefits
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Saving money is essential to financial planning, and choosing the right savings account is crucial in achieving your financial goals. Chase and Capital One are two of the most popular banks in the United States, offering savings account options.

In this article, we'll take a detailed look at Chase and Capital One savings accounts, comparing interest rates, fees, account options, and other important factors to help you decide which bank is right for you.

Compare Savings Account Rates

Capital One Performance Savings
Chase Premier Savings
Savings Rate
4.35%
0.01%
Minimum Deposit
$0
$25
Fees
$0
$25 per month Can be waived if you carry $300 account balance at the start of the month, $25+ autosave or linking a Chase checking account
Promotion
None
None
CD Range
4.00% – 5.10%
3.00% – 4.75%

The table provides a comparison of the Capital One Performance Savings and Chase Premier Savings accounts in terms of their savings rate, minimum deposit, fees, promotions, and CD rates.

In terms of savings rate, Capital One Performance Savings wins without competition, while it offers a much higher rate of 4.35%, while Chase Premier Savings only offers a rate of 0.01%.

Capital One open savings account
(Screenshot from Capital One, rates are not updated)

When it comes to account fees, Capital One Performance Savings does not charge any fees, while Chase Premier Savings charges a $25 monthly fee, but it can be waived if you carry above $300 in your account. Both accounts do not offer any promotions currently, so there is no advantage to either account in that regard.

Overall, the Capital One Performance Savings account offers higher savings rates, no minimum deposit or fees, and higher CD rates compared to Chase Premier Savings.

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Savings Rate: 5.21% APY
Minimum Deposit:
$0
 
CIT-Bank-Logo
Savings Rate: 4.45% APY
Minimum Deposit:
$5,000
Quontic bank logo
Savings Rate: 4.50% APY
Minimum Deposit:
$100
 
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
Minimum Deposit:
$0
 
CIT-Bank-Logo
Savings Rate: 4.45% APY
Minimum Deposit:
$5,000
Quontic bank logo
Savings Rate: 4.50% APY
Minimum Deposit:
$100
 
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

Compare Savings Account Features

Capital One Performance Savings
Chase Premier Savings
Easy Account Transfers
Access to the Chase Network
Automatic Savings Plan
Automatic Savings Program
Multiple Accounts
Sapphire Banking Perks
Mobile Check Deposit
Daily Compound Interest

Capital One Performance Savings offers easy account transfers, allowing customers to move their money between linked Capital One accounts or external bank accounts to take advantage of the high-yield rate. The account also offers an automatic savings plan, allowing customers to keep their savings growing with automatic transfers.

Customers can also create multiple Performance Savings accounts to achieve different financial goals. Additionally, the account provides a mobile check deposit feature that allows customers to deposit checks almost anywhere, anytime, simply by taking a photo of the check with their phone.

Capital One Mobile check deposit
Mobile check deposit (Screenshot from Capital One)

The Chase Premier Savings account offers several attractive benefits, including access to the extensive Chase Bank network, which includes approximately 4,900 branches and a network of 16,000 ATMs nationwide. In addition, the account features an automatic savings program that can help you work towards your savings goals by setting goals in the Chase mobile app.

If you link your Premier Savings account to your Chase Sapphire Checking, you can also access Sapphire Banking perks such as special event access and early ticket sales. Plus, the interest you earn on your account balance compounds daily, allowing you to potentially earn even more interest over time.

Chase choose savings goals
(Screenshot from Chase app)

Breaking Down Alternative Savings Choices

Choosing the right savings account is a critical decision that can help you achieve your financial goals. With so many options available in the market, it can be overwhelming to decide which one is the best fit for your needs.

If you've decided Capital One and Chase is not for you, we've compiled a table comparing the savings account rates and minimum deposit requirements of traditional banks, online banks, and credit unions.

Bank/Institution
Savings APY
Min Deposit
Type
4.45%
$100
Online Bank
4.40%
$0
Online Bank
4.45%
$0
Traditional Bank
5.21%
$0
Online Banking
4.40%
$0
Online Banking
4.25%
$0
Online Bank
4.35%
$0
Online Bank
5.00%
$100
Online Banking
4.65% The PNC High Yield Savings℠ account is only available to residents of Arizona, California, Colorado, New Mexico and Texas.
$0
Traditional Bank
4.75%
$0
Online Bank
4.50%
$100
Online Bank
3.06% – 3.10%
$0
Credit Union
4.25%
$0
Online Bank
up to 4.60%
$1,000 – $5,000
Online Bank
3.00%
$5
Credit Union

Compare Chase Savings

There is no competition when it comes to savings rates – Discover wins Chase clearly. However, each of them has its own benefits and tools.

Chase Savings vs Discover Online Savings Account: Compare Side By Side

Ally Savings offers much higher savings rate compared to Chase Savings Premier. What other features and benefits they offer?

Chase Savings vs Ally Bank Savings Account: Compare Side By Side

PNC offers much higher savings rate than Chase, but PNC states are very limited. Here's our full savings account comparison.

Chase Savings vs PNC Standard Savings: Compare Side By Side

Compare Capital One Savings

While Citi Accelerate Savings account offers a slightly higher APY than Capital One 360 Performance Savings, it has drawbacks to consider.

Citi Accelerate Savings vs Capital One 360 Performance Savings: Which Is Better

The Discover Online Savings and the Capital One 360 Performance Savings rates are similar. Compare account features, benefits and drawbacks.

Discover Online Savings Account vs Capital One 360 Performance Savings: Compare Side By Side

Compare Ally and Capital One Savings account rates, features, benefits, and limitations to determine which one is the best option for you

Ally Bank Savings Account vs. Capital One 360 Performance Savings: Which Is Best?

Capital One and Amex savings rates are quite similar. However, each of them has its own benefits, features and tools. Here's our comparison: Capital One 360 Performance Savings vs. American Express High Yield Savings Account

Our Savings Accounts Comparison Methodology

The Smart Investor team has conducted a comprehensive comparison of savings accounts, analyzing each based on these critical categories to help you decide where to entrust your savings.

  • Savings Rates: The savings rates category delves into the interest rates offered by each account, assessing their competitiveness in the market. Higher interest rates mean greater returns on your savings over time, providing a crucial incentive for account holders to choose one account over another. Additionally, we explore any promotional rates or conditions that may affect the account's overall value.
  • Savings Features: We examine the features and benefits accompanying each savings account. From account minimums and fees to accessibility through online and mobile banking platforms, these features can significantly impact the convenience and utility of the account for account holders. We also consider perks like overdraft protection, automatic savings plans, and rewards programs.
  • Customer Experience: A positive customer experience is paramount in banking, and we evaluate each institution's performance in this area. This includes aspects such as the ease of account opening, quality of customer service, availability of support channels, and overall user satisfaction on platforms such as Trust Pilot and JD Power ranking.
  • Bank Reputation: The bank's reputation carries weight in the decision-making process. Factors such as financial stability, regulatory compliance, and public perception contribute to the overall trustworthiness and reliability of the institution.

Savings Accounts Reviews

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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Best Savings Accounts
Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
Minimum Deposit:
$0
 
CIT-Bank-Logo
Savings Rate: 4.45% APY
Minimum Deposit:
$5,000
Quontic bank logo
Savings Rate: 4.50% APY
Minimum Deposit:
$100
 
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

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Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
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Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

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