Chase Bank vs. My Banking Direct
Comparing Chase Bank and My Banking Direct for savings: Chase Bank's Chase Savings℠ pays 0.01% APY while My Banking Direct's High Yield Savings Account pays 4.02% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? My Banking Direct pays $401 more than Chase Bank annually ($402 vs $1).
Choose Chase Bank if you value in-person banking. Choose My Banking Direct if getting the best rate matters most.
| Metric | Chase BankChase Savings℠ Feb 24, 2026 | My Banking DirectHigh Yield Savings Account Feb 24, 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® SupportedStable Rate | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® SupportedRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Chase Bank vs. My Banking Direct
Executive Summary
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, providing better returns without any maintenance fees or direct deposit requirements. In contrast, Chase Bank's Chase Savings℠ account yields only 0.01% APY, although it features a robust mobile app experience. Chase does not require a direct deposit, but it has a maintenance fee of $5, which can be waived under certain conditions. Overall, My Banking Direct is the clear winner for those seeking higher returns, especially for online-only banking.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- ✓Physical branch access (Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii.)
- ✓Higher rated Android app (4.7 vs 4.2)
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. 4.2)
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.
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: 2/24/2026 Stable (90d) | 4.02% Verified: 2/24/2026 Stable (90d) |
| Product Name | Chase Savings℠ | High Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $1 |
| Monthly Fee | $5 | $0 |
| Compound Frequency | Monthly | N/A |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii. | None. You cannot make use of Flagstar Bank's branches. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Uses Flagstar/NYCB parent infrastructure. |
| 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 | 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 | -4.1 |
Days Since Change | 365 | 101 |
12-Month High | 0.01% | 4.45% |
12-Month Low | 0.01% | 4.02% |
Adjustments / Mo | 0.00 | 0.41 |
Volatility Score | 0.000 | 0.037 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Chase Bank's APY of 0.01% with other banks
Compare My Banking Direct's APY of 4.02% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| My Banking Direct vs Ally Bank | 3.20% | $0 |
| My Banking Direct vs American Express | 3.30% | $0 |
| My Banking Direct vs Axos Bank | 4.21% | $0 |
| My Banking Direct vs Bank of America | 0.01% | $100 |
| My Banking Direct vs Barclays | 3.85% | $0 |
| My Banking Direct vs Capital One | 3.30% | $0 |
| My Banking Direct vs Chime | 3.00% | $0 |
| My Banking Direct vs CIT Bank | 3.75% | $100 |
| My Banking Direct vs Citibank | 3.20% | $0 |
| My Banking Direct vs Discover Bank | 3.30% | $0 |
| My Banking Direct vs EverBank | 3.90% | $0 |
| My Banking Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| My Banking Direct vs Newtek Bank | 4.20% | $0.01 |
| My Banking Direct vs Openbank | 4.09% | $500 |
| My Banking Direct vs Pibank | 4.60% | $0 |
| My Banking Direct vs SoFi Bank | 4.00% | $0 |
| My Banking Direct vs Synchrony Bank | 3.50% | $0 |
| My Banking Direct vs Varo Bank | 5.00% | $0 |
| My Banking Direct vs Wealthfront | 3.95% | $0 |
| My Banking Direct vs Wells Fargo | 0.05% | $25 |