Chase Bank vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Chase BankChase Savings℠ Jan 9, 2026 | My Banking DirectHigh Yield Savings Account Jan 9, 2026 |
|---|---|---|
| APY | 0.01% | 4.02% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $0 | $500 |
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. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredLow 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. My Banking Direct
As of Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, with a minimum balance of $0, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
My Banking Direct pays $401 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while My Banking Direct pays $402 - an APY advantage for My Banking Direct.
Why Chase Bank?
- ✓Higher rated Android app (4.7 vs 4.3)
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $1/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $3/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Chase BankChase Bank offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.7 (vs. 4.3)
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $401 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
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, significantly higher than Chase Bank's Chase Savings℠, which provides a mere 0.01% APY. My Banking Direct's account has no maintenance fees and requires a minimum deposit of $500, making it a straightforward option for savers. In contrast, Chase Bank's account has a $5 maintenance fee, which can be waived under certain conditions. Additionally, Chase Bank is known for its mobile app experience, rated highly on both iOS and Android platforms. Overall, for those seeking higher returns, My Banking Direct is the clear winner.
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. My Banking Direct Savings Calculator
You earn $401 more with My Banking Direct 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
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chase Bank | My Banking Direct |
|---|---|---|
| APY | 0.01% Verified: 1/9/2026 Stable (90d) | 4.02% Verified: 1/9/2026 ↘︎ 0.18%90d Change |
| Product Name | Chase Savings℠ | High Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $1 |
| 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 | iOS4.7 Android4.3 |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | A- | F |
| 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 | Visit SiteVerify at Chase Bank Non-sponsored link to official site | Visit SiteVerify at My Banking Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | My Banking Direct |
|---|---|---|
| Chase Savings℠ | High Yield Savings Account | |
Current APY | 0.01% | 4.02% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -4.0 |
Days Since Change | 345 | 55 |
11-Month High | 0.01% | 4.45% |
11-Month Low | 0.01% | 4.02% |
Adjustments / Mo | 0.00 | 0.43 |
Volatility Score | 0.000 | 0.035 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Chase Bank vs...
Comparing against Standard Savings
Compare My Banking Direct vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.