Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank N.A.; Members FDIC

High Yield Chime Savings Account

Make your money grow faster

0.50% Annual Percentage Yield (APY).¹ Set money aside with Automatic Savings features. And never pay a fee².

Chime High Yield Savings Rate

Earn more on every dollar

We offer 0.50% APY¹ on your Savings Account. That’s 10x³ the national average! Learn how we got this rate.

No fees. No catch. No worries.

No minimum balance requirement, no maximums on interest earned. And no fees².

Grow your savings automatically

With Round Ups, you save the change on every purchase. And Save When I Get Paid helps you automatically save a percentage of every paycheck⁴.

Secured and FDIC Insured

We use encryption and secure processes to help ensure your money is safe. And your funds are held at FDIC insured banks⁵. Learn how the Chime Savings Account works.

Chime High Yield Savings vs average

How our Savings Account stacks up

  • 0.50% variable APY¹ -- that's 10x³ the national average
  • No fees²
  • Automatic Savings features

Questions?

Here’s everything you need to know about Chime Savings Account

Why should I open a Savings Account through Chime?

The Chime Savings Account offers you a variable rate of 0.50% APY¹ and there’s no minimum balance requirement! On top of that, our Automatic Savings features help you grow your savings faster:

Round Ups

Save money every time you make a purchase or pay a bill with your Chime Visa® Debit Card. Round Ups automatically round up transactions to the nearest dollar and transfers the Round Up from your Spending Account into your Savings Account.

Save When I Get Paid

Save When I Get Paid makes it easy to automatically start saving money with every paycheck so you can achieve your financial goals faster. You can automatically transfer 10% of your direct deposit of $500 or more into your Savings Account.

Are there fees to open a Savings Account?

No way! There are absolutely no fees for the Chime Savings Account.

Is there a minimum deposit or eligibility requirements?

There is no minimum deposit required to earn the interest rate. As long as you have a balance of at least $0.01 in your Savings Account, you will earn interest.😎

How do I enroll in the Chime Savings Account?

 

If you are new to Chime, you can start by opening a Spending Account through the “Get started today” section above to be eligible. Opening an online bank account powered by Chime takes less than 2 minutes! Once enrollment is complete, we recommend you download our mobile banking app.  You can open a Chime Savings Account in the Chime app under Settings or via our website.

If you have a Chime Spending Account but haven’t yet opened a Savings Account, you can open one in the Chime app under Settings or via our website.

 

What is APY?

The Annual Percentage Yield, or “APY”, is a  percentage rate reflecting the total amount of interest paid on an account. This is based on the interest rate and how often interest compounds(interest on the amount you contributed plus any interest you already earned).

APY gives you an idea of what you can earn if you keep a steady balance in your account for a year. What you actually earn will depend on the balance in your account, but the APY can help you compare rates between accounts.

How is my interest calculated?

Your interest is calculated each day based on your Savings Account balance.

When is interest added to my account?

Interest on the Savings Account is credited on the first day of the month for the preceding calendar month.

What is a variable interest rate?

A variable rate is a rate that may change from time to time. It is dependent on a few factors, including things like changes in market rates and conditions. We do not take rate changes lightly, so we will always do what we can to provide you with the best rate.

Can I deposit money directly into my Savings Account?

No, but here are a few easy ways to put money in your Savings Account:

  1. Transfer directly from your Spending Account
  2. Send 10% of every direct deposit of $500 or more with Save When I Get Paid 

Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank.

By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime. We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties' privacy or security practices.

1 The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of August 1, 2021. No minimum balance required. Must have $0.01 in savings to earn interest.

2 There’s no fee for Chime Savings Accounts. Cash Withdrawal and Third-party fees may apply to Chime Spending Accounts. You must have a Chime Spending Account to open a Chime Savings Account.

3 The average national savings account interest rate of 0.05% is determined by FDIC as of July 1, 2021 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit https://www.fdic.gov/regulations/resources/rates/ to learn more.

4 Round Ups automatically round up debit card purchases to the nearest dollar and transfers the round up from your Chime Spending Account to into your savings account. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Spending Account into your savings account.

5 FDIC deposit insurance limit to $250,000 per depositor, per insured bank, per ownership category. For Stride Savings Account depositors, funds are eligible for FDIC insurance when it arrives at the bank. Please visit www.chime.com/savings-apy-and-program-banks/ for more details on FDIC insurance.

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