Charles Schwab Bank vs. Chime
Charles Schwab Bank's Schwab Bank Investor Savings™ advertises 0.15% APY while Chime's Chime High-Yield Savings Account advertises 3.75% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
On a $10,000 balance, Chime's Chime High-Yield Savings Account earns about $360 more in a year than Charles Schwab Bank's Schwab Bank Investor Savings™: $375 against $15.
Choose Charles Schwab Bank if you want a no-strings-attached account, or you want Zelle for quick transfers. Choose Chime if getting the best rate matters most, or you're an Android user.
Important Considerations
Chime's Chime High-Yield Savings Account advertises its top rate only if you also open a checking account with Chime, while Charles Schwab Bank's Schwab Bank Investor Savings™ stands alone.
| Metric | Charles Schwab BankSchwab Bank Investor Savings™ Oct 5, 2026 | ChimeChime High-Yield Savings Account Oct 5, 2026 |
|---|---|---|
| APY | 0.15% | 3.75% |
Earns in a year | $5,000+$8 $10,000+$15 $25,000+$38 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessZelle® SupportedDaily CompoundingStable Rate | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily Compounding |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.36% APY.
Comparison Analysis
Comparing Charles Schwab Bank vs. Chime
Executive Summary
The real return at August 1, 2026 CPI of 3.4% shows Charles Schwab Bank at -3.3 points, while Chime is at 0.4 points. Chime leads with a standard rate of 3.75% on balances of $10,000 and above. This rate has been in effect since at least February 17, 2026. In contrast, Charles Schwab Bank offers a standard rate of 0.15% on its Schwab Bank Investor Savings™ account, unchanged since at least January 21, 2026. Both banks have maintained their rates since their respective series starts.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Charles Schwab Bank?
- No checking account or direct deposit required
- Fast transfers via Zelle®
Why Chime?
- Higher potential APY (3.75% vs 0.15%) on all balances (checking account required, requires direct deposit)
- Higher rated Android app (4.7 vs 3.1)
Key Feature Differences
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $15/yr).
Better Returns at $25,000
ChimeChime's Chime High-Yield Savings Account pulls ahead with larger amounts (approx. $938 vs $38/yr).
Better 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 $360 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
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Non-sponsored link to official site
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Charles Schwab Bank vs. Chime Savings Calculator
You earn $360 more with Chime than Charles Schwab 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.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Charles Schwab Bank | Chime |
|---|---|---|
| APY | 0.15% Observed: 10/5/2026 Stable over 90 days | 3.75% Observed: 10/5/2026 Stable over 90 days |
| Product Name | Schwab Bank Investor Savings™ | Chime High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branches | Yes | None |
| Physical Branches | 1 (TX) | Not reported |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | Yes |
| Zelle® Support | Available Integrated into Investor Checking; high liquidity. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Charles Schwab Bank Non-sponsored link to official site | Visit SiteVerify at Chime Non-sponsored link to official site |
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
Charles Schwab Bank
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Charles Schwab Bank paid a higher average rate on savings and money market deposits than 5% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
Chime
Chime is not a bank and files no call report. Its deposits are held at partner banks.
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
Compare Savings Rates Over Time
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Compare Charles Schwab Bank's APY of 0.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Charles Schwab Bank vs Ally Bank | 3.10% | $0 |
| Charles Schwab Bank vs American Express | 3.10% | $0 |
| Charles Schwab Bank vs Axos Bank | 4.21% | $0 |
| Charles Schwab Bank vs Barclays | 3.65% | $0 |
| Charles Schwab Bank vs Capital One | 3.10% | $0 |
| Charles Schwab Bank vs CIT Bank | 3.75% | $100 |
| Charles Schwab Bank vs EverBank | 4.20% | $0 |
| Charles Schwab Bank vs Marcus by Goldman Sachs | 3.50% | $0 |
| Charles Schwab Bank vs Newtek Bank | 4.20% | $100 |
| Charles Schwab Bank vs Openbank | 4.15% | $500 |
| Charles Schwab Bank vs Pibank | 4.25% | $0 |
| Charles Schwab Bank vs SoFi Bank | 4.20% | $0 |
| Charles Schwab Bank vs Synchrony Bank | 3.55% | $0 |
| Charles Schwab Bank vs Varo Bank | 3.75% | $0 |
| Charles Schwab Bank vs Wealthfront | 4.20% | $0 |