Watch your
Savings grow.

Your savings can grow at competitive rates with tiered APY options.⁵ The standard rate for Chime members is 0.75% APY. If you unlock Chime Plus by receiving qualifying direct deposits of $400+ or a single monthly direct deposit of $200+ or more within the preceding 34 days you'll earn 2.75% APY.⁵ And with Chime Prime, which requires $3,000 or more in monthly qualifying direct deposits,⁴ you can earn 3.75% APY.⁵ Interest is calculated daily on balances of $0.01 or more, so your money starts working for you right away.

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

Before opening a savings account, compare APYs, and look for an account with one that’s higher than the national average. 

Nope. Your Chime^® Savings Account has no monthly fees and no minimum balance requirements.¹⁵ You can open an account and start saving without worrying about your balance dropping below a certain amount. You'll earn interest as long as you have a balance of at least $0.01 in your Chime Savings Account. 

Many traditional banks may charge monthly maintenance fees or require minimum balances, but that's not how we do things. Chime's high-yield savings account is a no-fee savings account, meaning you'll never pay a monthly fee, no matter your balance.

Round Ups¹⁶ make saving effortless. Opt in when signing up for your Chime Savings Account or at any time in the Chime mobile app. Each time you make a purchase or pay a bill with your Chime Visa^® Debit Card, Round Ups will automatically round up transactions to the nearest dollar and transfer the spare change from your checking account into your savings account. So if you spend $3.50 on coffee, we'll round it up to $4.00 and transfer the extra $0.50 to your savings. It's a simple way to save without even thinking about it.

Chime automatically moves a portion of each paycheck into your savings before you can spend it — you choose a dollar amount or percentage. Every time you get paid, the transfer happens for you.¹⁷ It's a hands-off way to build savings over time.

Savings Goals let you create custom buckets for the things you’re saving for — whether that’s a vacation, emergency fund, or new laptop. You can set up unlimited goals, name them whatever you want, and track your progress toward each one. Seeing your goals grow can help keep you motivated and make saving feel more rewarding.

Yes, your deposits are protected. Chime uses encryption and secure processes to ensure your money is protected. Plus, all your funds are held at our FDIC-insured partner banks, The Bancorp Bank, N.A, and Stride Bank, N.A.¹⁸ Learn how the Chime Savings Account works.

You'll need an active Chime Checking Account to open a Savings Account. If you don't have one yet, you can sign up for both at the same time. You must be at least 18 years old and a U.S. resident with a valid Social Security number to qualify.

During the enrollment process, you’ll have the option to open a savings account at the same time. But don’t worry if you miss that step – Chime Checking Account members can launch their mobile app, head to the Savings screen, and open a savings account at any time. No minimum balance required!

Your Savings Account is designed for saving, not spending. You can’t make purchases or withdrawals directly from it. When you need to use your money, just transfer it to your Chime Checking Account first. Transfers between your accounts are quick and easy to do in the app.

To unlock Chime Plus and earn 2.75% APY, you'll need to receive at least $200 in qualifying direct deposits each month.⁴ For Chime Prime, which offers 3.75% APY, you'll need $3,000 or more in monthly qualifying direct deposits.⁴ Qualifying direct deposits include things like paychecks and government benefits. Once you meet the threshold, your higher rate kicks in automatically.

The best high-yield savings account is the one that works for you, but when searching for a savings account, consider prioritizing online banking, low monthly fees, and, above all else, a high APY.

Because banks and credit unions routinely change their APYs, it’s difficult to name the single best high-yield savings account, but online banks have consistently provided higher APYs compared to traditional brick-and-mortar financial institutions. When you choose to bank through Chime, for instance, you gain access to a savings account that’s regularly among the best with a high APY, online banking capabilities, helpful tools to make it easier to save, and no monthly fees.¹⁵

The high-yield savings account with Chime is a great choice for building your savings. The account offers you a competitive variable Annual Percentage Yield (APY),⁵ and there’s no minimum balance requirement. On top of that, Chime’s Automatic Savings features help you grow your savings faster:

Round Ups¹⁶

Save money every time you make a purchase or pay a bill with your Chime Visa^® Debit Card. Round Ups will automatically round up transactions to the nearest dollar and transfer the spare change from your Checking Account into your Savings Account.

Automatic Savings²

Chime makes it easy to automatically start saving money with every paycheck so you can achieve your financial goals faster.

Chime is a financial technology company that partners with FDIC-insured banks to offer banking services.¹¹ Unlike many traditional banks that may charge monthly fees or require minimum balances, Chime focuses on helping you manage your money without those extra costs. You get features like Round Ups and Automatic Savings built right in, plus tiered APY rewards that can grow as your direct deposits increase. Our goal is to help you make financial progress on your own terms.¹¹