Chase Bank vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Chase Bank
Chase Savings℠
0.01%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Chase Bank
Chase Savings℠
Discover Bank
Online Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Chase Bank vs. Discover Bank
Why Chase Bank?
No distinct advantages found vs Discover Bank.
Why Discover Bank?
- ✓Higher potential APY (3.40% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Discover BankDiscover Bank's Online Savings Account earns more on smaller deposits (approx. $340 vs $1/yr).
Better Returns at $25,000
Discover BankDiscover Bank's Online Savings Account pulls ahead with larger amounts (approx. $850 vs $3/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.40% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Discover Bank's Online Savings Account pays $339 more interest on a $10,000 balance than Chase Bank's Chase Savings℠.
Executive Summary
Discover Bank offers a competitive Online Savings Account with an APY of 3.40%, significantly higher than Chase Bank's Chase Savings℠, which has an APY of only 0.01%. The Discover account is online-only, requires no minimum deposit, and has no maintenance fees, making it an attractive option for savers. In contrast, while Chase's account also has no minimum deposit, it does impose a maintenance fee of $5, which can be waived under certain conditions. Overall, Discover Bank is the clear winner for those seeking higher returns on their savings.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
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| Feature | Chase Bank | Discover Bank |
|---|---|---|
| APY | 0.01% Verified: 12/6/2025 Stable (90d) | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change |
| Product Name | Chase Savings℠ | Online Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $5 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.9 Android4.8 |
| BBB Rating | A- | A+ |
| Important Notes | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | - |
| Next Steps |
Savings Comparison
Discover Bank earns $2,044.8 more than Chase Bank.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | Discover Bank |
|---|---|---|
| Chase Savings℠ | Online Savings Account | |
Current APY | 0.01% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -3.8 |
Days Since Change | 311 | 67 |
10-Month High | 0.01% | 3.75% |
10-Month Low | 0.01% | 3.40% |
Adjustments / Mo | 0.00 | 0.39 |
Volatility Score | 0.000 | 0.034 |
How to read these metrics(Click to expand)
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