Chime vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 21, 2026 | Discover BankOnline Savings Account Jan 16, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 3.30% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Discover Bank is part of Capital One and this account is not open to new customers. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | FDIC InsuredNo 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 Chime vs. Discover Bank
As of Chime offers an APY of 3.50% for its Chime High-Yield Savings Account, with a minimum balance of $0.01, compared to Discover Bank's 3.30% APY for its Online Savings Account, with a minimum balance of $0.
Chime pays $20 more than Discover Bank on a $10,000 balance after one year. Chime pays $350, while Discover Bank pays $330 - an APY advantage for Chime.
Why Chime?
- ✓Higher potential APY (3.50% vs 3.30%) on all balances
Why Discover Bank?
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle® (up to $600 a day)
— Key Feature Differences —
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $350 vs $330/yr).
Better Returns at $25,000
ChimeChime's Chime High-Yield Savings Account pulls ahead with larger amounts (approx. $875 vs $825/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
ChimeChime's Chime High-Yield Savings Account pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Chime's Chime High-Yield Savings Account pays $20 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Chime offers a competitive Chime High-Yield Savings Account with an APY of 3.50%, making it the superior choice over Discover Bank's Online Savings Account, which has an APY of 3.30%. Chime's account requires a qualifying direct deposit of $200 or more within the preceding 34 days, but it also provides better returns for those who bundle it with a checking account. In contrast, Discover's account does not require direct deposit and has no maintenance fees, but is currently not open to new customers. Both accounts are online-only and have no minimum deposit requirements.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Chime vs. Discover Bank Savings Calculator
You earn $20 more with Chime than Discover 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.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chime | Discover Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/21/2026 Stable (90d) | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change |
| Product Name | Chime High-Yield Savings Account | Online Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.8 Android4.8 | iOS4.9 Android4.8 |
| Zelle® Support | Not Supported | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. |
| BBB Rating | A+ | A+ |
| Important Notes | - | Discover Bank is part of Capital One and this account is not open to new customers. |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at Discover Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Discover Bank |
|---|---|---|
| Chime High-Yield Savings Account | Online Savings Account | |
Current APY | 3.50% | 3.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | 8.5 | -3.5 |
Days Since Change | 97 | 13 |
12-Month High | 3.75% | 3.75% |
12-Month Low | 2.00% | 3.30% |
Adjustments / Mo | 0.17 | 0.42 |
Volatility Score | 0.175 | 0.036 |
How to read these metrics(Click to expand)
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