Charles Schwab Bank savings rates, reviewed
Charles Schwab Bank advertises 0.15% APY on its Schwab Bank Investor Savings™ account. That is 23 basis points below the national savings average of 0.38% (FDIC, Aug 2026).
Ranked #230 of 337 tracked savings rates. It was #159 three months ago. The advertised rate has not changed in the 30 weeks since Banksparency began tracking it.
Estimate your earnings →·What Charles Schwab Bank actually pays →
Charles Schwab Bank at a glance
| Top savings APY | 0.15% · Schwab Bank Investor Savings™ |
|---|---|
| Minimum deposit | $0 |
| FDIC certificate | 57450 · Westlake, TX |
| Website | www.schwab.com |
| Branches | 1 branch in TX |
| Availability | Nationally available |
Charles Schwab Bank savings and CD rates
Rates are APY. The national savings average is 0.38% (FDIC, Aug 2026). The top tracked savings rate on Banksparency is 5.00%.
Interactive Tool
Calculate Savings for Charles Schwab Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$56.00(0.4%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,056.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Charles Schwab Bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced all of its deposits over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q1 2026, Charles Schwab Bank paid a higher average rate than 1% of U.S. banks (all-bank median 2.27%).
- Charles Schwab Bank, avg rate paid
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers every account that earns interest: savings, interest checking, money market accounts, CDs, and personal and business accounts at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older balances at the rates of earlier years, everyday transaction balances, and CDs that were priced in a different rate environment. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rate paid on interest-bearing deposits, quarterly. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated.
So what is the catch?
| Product | APY | Min to open | Min to earn | Monthly fee | Direct deposit | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|
| Schwab Bank Investor Savings™ | 0.15% | $0 | $0 | $0 | Not required | Variable |
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
✓ Every requirement above is explicit: no minimum, no fee, no direct deposit (observed Aug 24, 2026).
Opening and using the account
| Availability | Nationally available |
|---|---|
| Footprint | 1 branch in TX |
| App Store rating | 4.8 out of 5 |
| Google Play rating | 3.1 out of 5 |
| Zelle | Available |
| Eligibility | not stated |
How Charles Schwab Bank behaves over time
Every observation of the advertised Schwab Bank Investor Savings™ rate in the last 12 months was 0.15% (observed through Aug 24, 2026). The series includes promotional tiers where one applied.
Charles Schwab Bank has not changed its advertised savings rate in the 30 weeks since Banksparency began tracking it.
Who is Charles Schwab Bank?
| Headquarters | Westlake, TX |
|---|---|
| Scale | $242.9B assets · $219.9B deposits (Q1 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 57450 |
| BBB rating | A+ · Not BBB Accredited |
Financial detail is in What Charles Schwab Bank pays on deposits above.
Common questions about Charles Schwab Bank
Is Charles Schwab Bank FDIC insured?
Yes. Charles Schwab Bank is FDIC insured under certificate 57450, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Charles Schwab Bank?
Charles Schwab Bank requires no minimum deposit to open its Schwab Bank Investor Savings™ account, as observed on Aug 24, 2026. Check the bank's current terms before you open an account.
Does Charles Schwab Bank have branches?
Yes. Charles Schwab Bank operates 1 branch according to FDIC branch records, in addition to its website and mobile apps.
Charles Schwab Bank against its closest alternatives
| Bank | Savings APY | Rate paid (Q1 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Charles Schwab Bank | 0.15% | 0.31% | $0 | 1 branch in TX |
| First Federal Savings and Loan Association of McMinnville | 0.15% | 1.62% | $25 | 6 branches in OR |
| Center National Bank | 1.74% | 1.37% | not stated | 3 branches in MN |
| Fifth District Savings Bank | 0.60% | 2.05% | $50 | 7 branches in LA |
Alternatives are the three tracked banks whose best savings APY is closest to Charles Schwab Bank's.
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Rate hubs: today's best savings rates.