Chime vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Chime
Chime High-Yield Savings Account
Up to3.50%APYDec 6, 2025FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 1.00% – 3.50%Show Fine Print & Trends Hide Details
Chime
Chime High-Yield Savings Account
Discover Bank
Online Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Chime vs. Discover Bank
Why Chime?
No distinct advantages found vs Discover Bank.
Why Discover Bank?
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $350 vs $340/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.40% 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 $10 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
Executive Summary
Chime's High-Yield Savings Account leads with an APY of 3.50%, making it a strong choice for customers who also open a checking account, as it offers better returns on smaller deposits. It requires a qualifying direct deposit of $200 or more within the preceding 34 days. In contrast, Discover Bank's Online Savings Account offers a competitive APY of 3.40% with no direct deposit requirement, making it simpler for users. Both accounts are online-only and have no maintenance fees, but Chime's account is slightly more rewarding for those who meet its direct deposit condition.
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.
Stop Losing Interest
See who beats both Chime and Discover Bank.
| Feature | Chime | Discover Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 12/6/2025 ↘︎ 0.25%90d Change | 3.40% Verified: 12/6/2025 ↘︎ 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 Android4.7 | iOS4.9 Android4.8 |
| BBB Rating | A+ | A+ |
| Next Steps |
Savings Comparison
Chime earns $63.6 more than Discover Bank.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,114.10(10.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,114.10
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Discover Bank |
|---|---|---|
| Chime High-Yield Savings Account | Online Savings Account | |
Current APY | 3.50% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | 12.3 | -3.8 |
Days Since Change | 51 | 67 |
10-Month High | 3.75% | 3.75% |
10-Month Low | 2.00% | 3.40% |
Adjustments / Mo | 0.19 | 0.39 |
Volatility Score | 0.193 | 0.034 |
How to read these metrics(Click to expand)
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