Chase Bank vs Discover Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Chase Bank vs. Discover Bank

As of July 15, 2025 Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, compared to Discover Bank's 3.50% APY for its Online Savings Account account.

Discover Bank yields $349 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while Discover Bank pays $350 - an APY advantage for Discover Bank.

Chase Bank

Strengths

  • Chase Bank has a solid App Store rating of 4.8.
  • Chase Bank has a BBB rating of A-.

Potential Drawbacks

  • Chase Bank offers a low APY of 0.01%, unchanged from 30 days ago.
  • Chase Bank charges a $5 maintenance fee unless conditions are met.

Discover Bank

Strengths

  • Discover Bank offers a competitive APY of 3.50%, down from 3.60% last month.
  • Discover Bank has no maintenance fees for its accounts.

Potential Drawbacks

  • Discover Bank has no physical branches.
  • Discover Bank has a slightly lower Google Play rating of 4.3.
Summary: Discover Bank significantly outperforms Chase Bank with a high APY of 3.50% compared to Chase's 0.01%. Additionally, Discover Bank has no maintenance fees, while Chase charges $5. However, Chase Bank offers a higher App Store rating and a solid BBB rating of A-. Discover Bank lacks physical branches, which may be a consideration for some customers.

Compare Chase Bank's vs Discover Bank's Savings Accounts

Chase BankDiscover Bank
ProductChase Savings℠vsOnline Savings Account
APY
0.01% (as of 7/15/2025)3.50% (as of 7/15/2025)
Bundled Account
NoNo
FDIC-insured
YesYes
Online OnlyNoYes
Compound Frequency
MonthlyDaily
Minimum Deposit$0$0
Minimum Balance for APY$0$0
Maintenance Fee$5$0
Direct Deposit Required
NoNo
NoteAPY 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.N/A
Visit BankChase Savings℠Online Savings Account
App Store Rating4.8/54.9/5
Google Play Rating4.5/54.3/5
BBB RatingA-A+

Comparative Historical APY Insights (Last 6 Months)

Chase BankDiscover Bank
ProductChase Savings℠vsOnline Savings Account
Latest APY0.01 %3.50 %
TrendSidewaysSideways
Slope (bps/mo)0.0-4.6
Rate Changes / Mo0.000.54
Days Since Last Change16820
High (-6 m)0.01 %3.75 %
Low (-6 m)0.01 %3.50 %
Draw-down from High0.0 %-6.7 %
Volatility (CV)0.0000.022
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 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 (-6 m)
Highest APY in the last 168 days.
Low (-6 m)
Lowest APY in the last 168 days.
Draw-down from High
How far today sits below the 6-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.

Calculate Savings Growth for Chase Bank vs Discover Bank

All calculations are based on APY.

Chase Bank

APY: 0.01%

Total savings breakdown:

  • Interest earned: $0.1 (0.01%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (99.99%)

Your total balance

$1,000.10

Effective APY: 0.01% (based on your deposit and contributions)

Total balance: $1,000.1

Earnings: $0.1

Bank Details

Discover Bank

APY: 3.50%

Total savings breakdown:

  • Interest earned: $35 (3.38%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.62%)

Your total balance

$1,035.00

Effective APY: 3.50% (based on your deposit and contributions)

Total balance: $1,035

Earnings: $35

Bank Details

After 1 year Chase Bank would earn you $34.9 less than Discover Bank.

More Comparisons

Compare Chase Bank's APY of 0.01% with other banks
Compare Discover Bank's APY of 3.50% with other banks