Chase Bank vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
Chase Bank
Chase Savings℠
0.01%APYDec 12, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Chase Bank
Chase Savings℠
Openbank
High-Yield Savings Account
4.20%APYDec 12, 2025FDIC InsuredLow MinimumsShow Fine Print & Trends Hide Details
Openbank
High-Yield Savings Account
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.
Comparison Analysis
Comparing Chase Bank vs. Openbank
Why Chase Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.6 vs 3.1)
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 4.6 (vs. 3.1)
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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, significantly higher than Chase Bank's Chase Savings℠, which has an APY of only 0.01%. Openbank's account requires a minimum deposit of $500 but has no maintenance fees, making it an attractive option for savers looking for better returns without complex requirements. In contrast, Chase Bank's account has a maintenance fee of $5, which can be waived under certain conditions. While Chase Bank is not online-only and provides a well-rated mobile app experience, Openbank is exclusively online, catering to those who prefer digital banking.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Chase Bank and Openbank.
| Feature | Chase Bank | Openbank |
|---|---|---|
| APY | 0.01% Verified: 12/12/2025 Stable (90d) | 4.20% Verified: 12/12/2025 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 Android4.6 | iOS3.1 Android3.1 |
| 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 |
📈 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 | -3.3 |
Days Since Change | 288 | 143 |
9-Month High | 0.01% | 4.75% |
9-Month Low | 0.01% | 4.20% |
Adjustments / Mo | 0.00 | 0.31 |
Volatility Score | 0.000 | 0.026 |
How to read these metrics(Click to expand)
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