Chime

Last Updated: 6/20/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick 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)

Bank Overview

BBB Rating: B-

App Store Rating: 4.8/5

Google Play Rating: 4.7/5

Website: Visit Chime

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

FeatureChime Savings Account
APY
1.25% - 3.75% (as of 6/20/2025)
APY TrendStable for the last month
Minimum Deposit$0
Minimum Balance for APY$0.01
FDIC-insured
Yes
Online OnlyYes
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
EligibilityUnited States
NoteChime® 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

MetricChime Savings Account
Latest APY3.75 %
TrendRising
Slope (bps/mo)53.3
Rate Changes / Mo0.21
Days Since Last Change82
High (-5 m)3.75 %
Low (-5 m)2.00 %
Draw-down from High0.0 %
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

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  • Neighbors Bank - 4.60% APY
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  • 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
FeatureChimeSelect a bank...
ProductChime Savings AccountN/A
APY
1.25% - 3.75% (as of 6/20/2025)N/A
Bundled Account
YesN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$0N/A
Minimum Balance for APY$0.01N/A
Maintenance Fee$0N/A
Direct Deposit Required
Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 daysN/A
NoteChime® 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