Chase Bank vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Chase BankChase Savings℠ Jan 7, 2026 | OpenbankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 0.01% | 4.20% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
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 Minimums |
Comparison Analysis
Comparing Chase Bank vs. Openbank
As of Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, with a minimum balance of $0, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $419 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while Openbank pays $420 - an APY advantage for Openbank.
Why Chase Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.9)
- ✓Fast transfers via Zelle® (up to $2,000 a day)
Why Openbank?
- ✓Higher potential APY (4.20% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $1/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $3/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Chase BankChase Bank offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.7 (vs. 2.9)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $419 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the clear winner compared to Chase Bank's Chase Savings℠, which has a significantly lower APY of 0.01%. Openbank's account requires a minimum deposit of $500 but has no maintenance fees, while Chase Bank's account has a $5 maintenance fee that can be waived under certain conditions. Additionally, Openbank's product is online-only, providing a straightforward option without the need for direct deposit or account bundling. In contrast, Chase Bank is noted for its superior mobile app experience.
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. Openbank Savings Calculator
You earn $419 more with Openbank 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
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chase Bank | Openbank |
|---|---|---|
| APY | 0.01% Verified: 1/7/2026 Stable (90d) | 4.20% Verified: 1/7/2026 Stable (90d) |
| Product Name | Chase Savings℠ | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| 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 | iOS3.1 Android2.9 |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Not Supported |
| BBB Rating | A- | Not Rated |
| 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 Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | Openbank |
|---|---|---|
| Chase Savings℠ | High-Yield Savings Account | |
Current APY | 0.01% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.0 |
Days Since Change | 315 | 169 |
10-Month High | 0.01% | 4.75% |
10-Month Low | 0.01% | 4.20% |
Adjustments / Mo | 0.00 | 0.28 |
Volatility Score | 0.000 | 0.027 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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