Chase Bank vs. Openbank
Comparing Chase Bank and Openbank for savings: Chase Bank's Chase Savings℠ pays 0.01% APY while Openbank's High-Yield Savings Account pays 4.00% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Openbank pays $399 more than Chase Bank annually ($400 vs $1).
Choose Chase Bank if you value in-person banking, mobile app quality matters, or you want Zelle for quick transfers. Choose Openbank if getting the best rate matters most.
| Metric | Chase BankChase Savings℠ Apr 16, 2026 | OpenbankHigh-Yield Savings Account Apr 10, 2026 |
|---|---|---|
| APY | 0.01% | 4.00% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
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 MinimumsRate Changes Often |
Comparison Analysis
Comparing Chase Bank vs. Openbank
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.00%, making it the clear winner compared to Chase Bank's Chase Savings℠, which has an APY of just 0.01%. Openbank's account requires a minimum deposit of $500 but has no maintenance fees or direct deposit requirements, making it a straightforward choice for savers. In contrast, Chase Bank charges a $5 maintenance fee unless certain conditions are met, and while it provides a robust mobile app experience, the savings rate is significantly lower. Overall, Openbank's offering stands out for those seeking higher returns.
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 iOS app (4.8 vs 3.2)
- ✓Higher rated Android app (4.8 vs 2.5)
- ✓Fast transfers via Zelle® (up to $2,000 a day)
Why Openbank?
- ✓Higher potential APY (4.00% 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. $400 vs $1/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $3/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.00% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Chase BankChase Bank offers an iOS app rated 4.8 (vs. 3.2) and Android app rated 4.8 (vs. 2.5)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $399 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. Openbank Savings Calculator
You earn $399 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+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chase Bank | Openbank |
|---|---|---|
| APY | 0.01% Verified: 4/16/2026 Stable (90d) | 4.00% Verified: 4/10/2026 ↘︎ 0.20%90d Change |
| Product Name | Chase Savings℠ | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $5 | $0 |
| Compound Frequency | Monthly | Monthly |
| 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 |
| 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. | 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% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -2.5 |
Days Since Change | 365 | 10 |
12-Month High | 0.01% | 4.40% |
12-Month Low | 0.01% | 4.00% |
Adjustments / Mo | 0.00 | 0.33 |
Volatility Score | 0.000 | 0.023 |
How to read these metrics(Click to expand)
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Compare Chase Bank's APY of 0.01% with other banks
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|---|---|---|
| Chase Bank vs Ally Bank | 3.10% | $0 |
| Chase Bank vs American Express | 3.20% | $0 |
| Chase Bank vs Axos Bank | 4.21% | $0 |
| Chase Bank vs Barclays | 3.75% | $0 |
| Chase Bank vs Capital One | 3.20% | $0 |
| Chase Bank vs Chime | 3.00% | $0 |
| Chase Bank vs CIT Bank | 3.75% | $100 |
| Chase Bank vs Discover Bank | 3.30% | $0 |
| Chase Bank vs EverBank | 3.90% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chase Bank vs Newtek Bank | 4.20% | $0.01 |
| Chase Bank vs Pibank | 4.40% | $0 |
| Chase Bank vs SoFi Bank | 4.00% | $0 |
| Chase Bank vs Synchrony Bank | 3.50% | $0 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
| Chase Bank vs Wealthfront | 4.20% | $0 |