Chime
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Chime Savings Account: 1.25% - 3.75% APY(Rank 61 out of 74 tracked HYSAs)
Minimum Deposit: $0 | Bundled Savings & Checking Account | Online Only | Direct Deposit: You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days
National Savings Interest Rate: 0.42% (as of 5/19/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Our Take on Chime
Highlights
- Current APY is 3.75%, competitive for high-yield savings accounts.
- No maintenance fees, making it cost-effective for savers.
- High App Store rating of 4.8 indicates user satisfaction.
- No minimum deposit required to open an account.
Considerations
- Direct deposit of $200 is needed to earn the highest APY.
- BBB rating of B- may raise trust concerns for some customers.
- Only online banking available; no physical branches.
- If direct deposit requirement is unmet, APY drops to 1.25%.
Summary: Chime offers a high-yield savings account with a competitive APY of 3.75%, but requires a direct deposit of $200 to qualify for this rate. The account has no maintenance fees and no minimum deposit, appealing to cost-conscious savers. However, its B- BBB rating may deter some, and being online-only limits access. Overall, Chime is a viable option for those who can meet the direct deposit requirement.
Savings Account
Savings Account Offered by Chime
| Feature | Chime Savings Account |
|---|---|
| APY | 1.25% - 3.75% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| Minimum Deposit | $0 |
| Minimum Balance for APY | $0.01 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | Yes |
| Direct Deposit Required | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days |
| Compound Frequency | Daily |
| Maintenance Fee | $0 |
| Eligibility | United States |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.75% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.25%. |
No deposit agreement summary available for this bank. | |
Calculate Savings for Chime
All calculations are based on APY.
Chime Savings Account (APY: 1.25% ⎼ 3.75%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
Effective APY: 3.75% (based on your deposit and contributions)
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Chime Savings Rates Over Time
Historical APY Insights
| Metric | Chime Savings Account |
|---|---|
| Latest APY | 3.75 % |
| Trend | Rising |
| Slope (bps/mo) | 53.3 |
| Rate Changes / Mo | 0.21 |
| Days Since Last Change | 82 |
| High (-5 m) | 3.75 % |
| Low (-5 m) | 2.00 % |
| Draw-down from High | 0.0 % |
| Volatility (CV) | 0.287 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 143 days.
- Low (-5 m)
- Lowest APY in the last 143 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare Chime's Savings Account
- Affirm - 3.85% APY
- All America Bank - 1.50-3.25% APY
- Ally Bank - 3.50% APY
- Amalgamated Bank - 2.25% APY
- American Express - 3.60% APY
- Axos Bank - 4.66% APY
- Bank5 Connect - 4.05% APY
- Bank of America - 0.01% APY
- Barclays - 3.90-4.10% APY
- Bask Bank - 4.20% APY
- Betterment - 4.00% APY
- BMO Alto - 3.60% APY
- Bread Savings - 4.30% APY
- BrioDirect - 4.30% APY
- Capital One - 3.60% APY
- Carver Bank - 4.00% APY
- Charles Schwab Bank - 0.15% APY
- Chase Bank - 0.01% APY
- CIBC Bank USA - 4.11% APY
- CIT Bank - 0.25-4.00% APY
- Citibank - 3.60% APY
- Citizens Access™ - 3.70% APY
- Colorado Federal Savings Bank - 4.25% APY
- ConnectOne Bank - 4.00% APY
- Customers Bank - 4.23% APY
- Discover Bank - 3.60% APY
- E*TRADE from Morgan Stanley - 4.00% APY
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- Fitness Bank - 5.00% APY
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- FVCbank - 4.35% APY
- High Plains Bank - 0.23-3.82% APY
- Jenius Bank - 4.20% APY
- LendingClub - 3.40-4.40% APY
- Live Oak Bank - 4.10% APY
- Marcus by Goldman Sachs - 3.65% APY
- My Banking Direct - 4.30% APY
- MySavingsDirect - 3.75% APY
- Neighbors Bank - 4.60% APY
- Newtek Bank - 4.35% APY
- OMB Bank - 1.00% APY
- Openbank - 4.30% APY
- Peak Bank - 4.44% APY
- Pibank - 4.60% APY
- PNC - 3.95% APY
- Poppy Bank - 4.25% APY
- Popular Direct - 4.05% APY
- Presidential Bank - 4.00-4.50% APY
- Prime Alliance Bank - 4.05% APY
- Primis Bank - 4.35% APY
- Quontic Bank - 3.85% APY
- RBMAX - 4.15% APY
- Rising Bank - 4.30% APY
- ROGER - 4.65% APY
- Salem Five Direct - 4.01% APY
- Sallie Mae Bank - 3.90% APY
- Santander Bank - 0.03% APY
- SoFi Bank - 3.80% APY
- Synchrony Bank - 3.80% APY
- TAB Bank - 4.26% APY
- TD Bank - 0.05-3.00% APY
- The State Exchange Bank - 1.90% APY
- TIMBR - 4.40% APY
- UFB Direct - 4.01-4.21% APY
- Upgrade - 4.02% APY
- Valley Direct - 4.20% APY
- Varo Bank - 2.50-5.00% APY
- Western Alliance Bank - 4.30% APY
- Zynlo Bank - 4.35% APY
| Feature | Chime | Select a bank... |
|---|---|---|
| Product | Chime Savings Account | N/A |
| APY | 1.25% - 3.75% (as of 6/20/2025) | N/A |
| Bundled Account | Yes | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $0.01 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | N/A |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.75% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.25%. | N/A |
Bank-to-Bank Comparisons
Compare Chime's APY of 3.75% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Chime vs Ally Bank | 3.50% | $0 |
| Chime vs American Express | 3.60% | $0 |
| Chime vs Axos Bank | 4.66% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs Capital One | 3.60% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 4.00% | $100 |
| Chime vs Discover Bank | 3.60% | $0 |
| Chime vs Fitness Bank | 5.00% | $100 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs SoFi Bank | 3.80% | $0 |
| Chime vs Synchrony Bank | 3.80% | $0 |
| Chime vs Varo Bank | 5.00% | $0 |