Grow Your Money Faster With a Chime High-Yield Savings Account

Chime offers a robust set of mobile banking savings tools, including high-yield savings account tiers up to 3.75%¹, automated savings features, and personalized goal tracking – all with no monthly fees² and no minimum balance. Interest compounds daily, and saving happens automatically through built-in features that run without manual input. These tools are designed to work together so balances grow whether or not the account is actively managed.

Automatic savings tools

Chime offers two automatic savings features. Round Ups automatically round up debit card⁵ and credit card purchases to the nearest dollar and transfers the round up into your savings account. Save When I Get Paid moves a set percentage of each direct deposit into savings the moment it arrives.

Savings goals

Chime lets you set up personalized savings goals to track progress toward specific targets, like building an emergency fund or saving for a vacation. You can create up to 10 separate goals and monitor each balance individually.

Use Chime’s savings goal calculator to figure out how much to set aside each month to reach a goal on time.

Earn interest on every dollar

Every dollar in a Chime savings account earns interest, with the rate determined by membership tier. Interest compounds daily and is credited monthly.

You can learn how to calculate interest on savings to see what a balance could look like over time.

APY, or annual percentage yield, is the real rate of return on savings when compound interest is factored in. It gives a more accurate picture of growth than a simple interest rate because it accounts for how often interest compounds over the year.

The national average savings rate is around 0.38%⁴, according to the FDIC. Chime’s tiered APY structure exceeds that benchmark at every membership level:

• Chime Prime™: 3.75% APY – requires at least $3,000 in qualifying direct deposits per month⁶
• Chime Plus™: 3.00% APY – requires at least $200 in qualifying direct deposits per month
• Standard Chime: 0.75% APY – available to all Chime members with no direct deposit requirement

You can read more about the difference between APR and APY to understand how these rates compare to other financial products.

Chime is a financial technology company, not a bank. Savings account balances are held at The Bancorp Bank, N.A. or Stride Bank, N.A., both Members FDIC, and are insured up to $250,000 per depositor³ through FDIC insurance – the same protection available at traditional banks.

Beyond deposit security protections, Chime provides real-time transaction alerts, the ability to instantly block a Chime Card™ from the app if it is lost or stolen, and around-the-clock fraud monitoring.

A savings account comes automatically with every Chime spending account⁷ – no separate application is needed. Here’s how to get started:

1. Create your Chime account. Visit member.chime.com/enroll/ and enter your basic information to sign up.
2. Verify your identity. Chime will ask for a Social Security number and a few personal details to confirm identity. This is a standard step for opening any financial account.
3. Set up direct deposit. Adding direct deposit with Chime unlocks higher APY tiers. Chime Plus™ requires at least $200/month; Chime Prime™ requires at least $3,000/month in qualifying direct deposits.
4. Fund your account. Transfer money from an existing bank account, set up direct deposit, or make a cash deposit at a participating retailer.
5. Turn on automatic savings. Enable Round Ups and Save When I Get Paid in the app to start building balances automatically.

Transfer from your Chime spending account

Transfers from a Chime spending account to savings are instant and available at any time in the app. There is no minimum transfer amount.

Transfer from an external bank account

An external bank account can be linked to move funds into Chime savings at any time. Learn more about how to move money into Chime for step-by-step instructions.

Round Ups

When Round Ups is enabled, each debit card and credit card purchase is rounded up to the next dollar and the difference is transferred into savings automatically. For credit card purchases, the round up amount is transferred from the secured deposit account. For example, a $4.60 purchase rounds up to $5.00, saving $0.40.

Save When I Get Paid

With Save When I Get Paid enabled, a chosen percentage of each direct deposit automatically moves into savings on payday. You set the percentage, and Chime handles the transfer.

Cash deposits

Cash can be deposited into a Chime account at thousands of retail locations. Read Chime’s guide on how to deposit cash into your Chime account to find participating locations.