Chime vs. MutualOne Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 7, 2026 | MutualOne BankMo Premium Savings Jan 7, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 4.07% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$0 $10,000+$0 $25,000+$1,018 |
Min Deposit | $0 | $20,000 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Chime vs. MutualOne 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 MutualOne Bank's 4.07% APY for its Mo Premium Savings account, with a minimum balance of $20,000.
MutualOne Bank pays $57 more than Chime on a $10,000 balance after one year. Chime pays $350, while MutualOne Bank pays $407 - an APY advantage for MutualOne Bank.
In addition, MutualOne Bank also offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
Why Chime?
- ✓Higher rated Android app (4.8 vs 4.4)
Why MutualOne Bank?
- ✓Higher potential APY (4.07% vs 3.50%)
- ✓No checking account or direct deposit required
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $350 vs $0/yr).
Better Returns at $25,000
MutualOne BankMutualOne Bank's Mo Premium Savings pulls ahead with larger amounts (approx. $1018 vs $875/yr).
Best for Simplicity
MutualOne BankMutualOne Bank's Mo Premium Savings offers 4.07% 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, MutualOne Bank's Mo Premium Savings pays $57 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
MutualOne Bank offers a superior APY of 4.07% with its Mo Premium Savings account, making it the winner in this comparison. This account does not require a direct deposit or a checking account, but it does have a minimum deposit requirement of $20,000. In contrast, Chime's High-Yield Savings Account provides a lower APY of 3.50%, which requires a qualifying direct deposit of $200 or more within the preceding 34 days and is available only online. While Chime's account may be better suited for those with smaller deposits, MutualOne Bank's offering is ideal for customers who can meet the higher minimum deposit.
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. MutualOne Bank Savings Calculator
You earn $114 more with MutualOne Bank than Chime on a $20,000 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+$700.00(3.4%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,700.00
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chime | MutualOne Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/7/2026 ↘︎ 0.25%90d Change | 4.07% Verified: 1/7/2026 Stable (90d) |
| Product Name | Chime High-Yield Savings Account | Mo Premium Savings |
| Minimum Deposit | $0 | $20,000 |
| Min. Balance for APY | $0.01 | $20,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| 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 Android4.4 |
| Zelle® Support | Not Supported | Available Verified via website and app descriptions. |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at MutualOne Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | MutualOne Bank | |
|---|---|---|---|
| Chime High-Yield Savings Account | Online Savings | Mo Premium Savings | |
Current APY | 3.50% | 0.40% | 4.07% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -7.0 | 0.0 | -0.0 |
Days Since Change | 83 | 114 | 114 |
4-Month High | 3.75% | 0.40% | 4.07% |
4-Month Low | 3.50% | 0.40% | 4.07% |
Adjustments / Mo | 0.26 | 0.00 | 0.00 |
Volatility Score | 0.029 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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