Chase Bank vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Chase BankChase Savings℠ Jan 21, 2026 | Discover BankOnline Savings Account Jan 16, 2026 |
|---|---|---|
| APY | 0.01% | 3.30% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | 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. | Discover Bank is part of Capital One and this account is not open to new customers. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Chase Bank vs. Discover Bank
As of Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, with a minimum balance of $0, compared to Discover Bank's 3.30% APY for its Online Savings Account, with a minimum balance of $0.
Discover Bank pays $329 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while Discover Bank pays $330 - an APY advantage for Discover Bank.
Why Chase Bank?
No distinct advantages found vs Discover Bank.
Why Discover Bank?
- ✓Higher potential APY (3.30% 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. $330 vs $1/yr).
Better Returns at $25,000
Discover BankDiscover Bank's Online Savings Account pulls ahead with larger amounts (approx. $825 vs $3/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Discover Bank's Online Savings Account pays $329 more interest on a $10,000 balance than Chase Bank's Chase Savings℠.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Discover Bank offers a competitive Online Savings Account with a notable APY of 3.30%, making it the clear winner in this comparison. This account is online-only and does not require a checking account, direct deposit, or minimum balance, and it has no maintenance fees, providing a straightforward savings option. In contrast, Chase Bank's Chase Savings℠ features a significantly lower APY of 0.01% and includes a maintenance fee of $5, which can be waived under certain conditions. While Chase offers a traditional savings account experience, Discover's higher yield and lack of fees make it a more attractive choice for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chase Bank vs. Discover Bank Savings Calculator
You earn $329 more with Discover Bank than Chase Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chase Bank | Discover Bank |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 3.30% Verified: 1/16/2026 ↘︎ 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 Android4.7 | iOS4.9 Android4.8 |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. |
| 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. | Discover Bank is part of Capital One and this account is not open to new customers. |
| Next Steps | Visit SiteVerify at Chase Bank Non-sponsored link to official site | Visit SiteVerify at Discover Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | Discover Bank |
|---|---|---|
| Chase Savings℠ | Online Savings Account | |
Current APY | 0.01% | 3.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.5 |
Days Since Change | 357 | 13 |
12-Month High | 0.01% | 3.75% |
12-Month Low | 0.01% | 3.30% |
Adjustments / Mo | 0.00 | 0.42 |
Volatility Score | 0.000 | 0.036 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Chase Bank vs...
Comparing against Standard Savings
Compare Discover Bank vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.