Chime CD Alternatives Review (2026) — Where to Park Money Since Chime Doesn't Offer CDs
Quick take: Chime is a fintech, not a chartered bank. It does NOT offer CDs. Chime's deposit products (Chime Spending and Chime Savings) are partner-bank-issued accounts via The Bancorp Bank and Stride Bank. If you want CD-style rate locks, you need to leave the Chime app. This guide compares the best alternatives.
Current rates (Chime, as of June 2026)
| Term | APY | Minimum |
|---|---|---|
| Chime Savings (variable rate, no lock) | ~2.00% APY | $0 |
| Alternative: Marcus Online Savings | ~3.85% APY variable | $0 |
| Alternative: Ally 11-Month No-Penalty CD | ~4.20% APY locked | $0 |
| Alternative: BMO Alto 1-year CD | ~4.75% APY locked | $0 |
| Alternative: Live Oak Bank 1-year CD | ~4.60% APY locked | $0 |
| Alternative: A-rated 5-year MYGA | ~5.65% APY locked (tax-deferred) | $25K+ typical |
Rates verified against Chime's public rate sheet on the publication date and change frequently. Confirm current APYs directly with the bank before opening an account.
Why Chime doesn't offer CDs
Chime is a fintech, not a chartered bank. The Chime brand provides a slick mobile app and customer experience, but the actual FDIC-insured deposit accounts are held at partner banks: The Bancorp Bank (FDIC cert #35462) and Stride Bank (FDIC cert #59022). Chime markets and services the accounts; the partner banks hold the deposits.
Because Chime's value proposition centers on fee-free everyday banking for paycheck-cycle consumers, they have chosen not to launch a CD product. Their Savings account at ~2.00% APY is the highest-yield product they offer — well below dedicated online-bank savings (Marcus ~3.85%) and dramatically below CD or MYGA alternatives.
If you're a Chime user with savings building up, you're leaving meaningful yield on the table by not opening an external CD or HYSA.
Best alternatives ranked by use case
If you need full liquidity: Marcus Online Savings (~3.85% APY) or Ally Online Savings (~3.80%) — nearly double Chime Savings, no lockup, no penalty.
If you can lock for 11 months with full no-penalty access: Ally 11-Month No-Penalty CD at 4.20% APY — rate lock plus the ability to withdraw at any time. Cleaner than Chime Savings on both yield and predictability.
If you can lock for 1 year fully: BMO Alto 1-year CD at 4.75% APY or BrioDirect 1-year at 4.85% — 275+ basis points above Chime Savings.
If you can lock for 5 years: A top-rated 5-year MYGA at 5.65% APY guaranteed — 365 basis points above Chime Savings, plus tax deferral if non-qualified. For $25K-$250K of long-term retirement savings, this is the highest-yield safe option available.
What we like about Chime CDs
- Chime Savings is FDIC-insured via partner banks (Bancorp/Stride)
- Easy to add an external HYSA or CD via ACH transfer from Chime Spending
- Marcus, Ally, BMO Alto, Live Oak, BrioDirect all accept ACH funding from Chime accounts
- 5-year MYGA can be funded directly via ACH from Chime
- Multi-institution diversification is healthy — don't keep everything in one place anyway
What we don't
- Chime offers no CDs — you must leave the Chime app to lock in rate
- Chime Savings APY (~2.00%) is well below competitive HYSAs (~3.85%)
- Chime's partner-bank structure adds a layer between you and FDIC recovery in a rare worst case
- No retirement-specific products at Chime — no IRA, no MYGA, no annuity
- Switching adds operational friction (new login, new app, new ACH links)
How Chime CDs compare vs peers
If this rate is on your shortlist, you should also be pricing:
| Competitor | Term | APY |
|---|---|---|
| Marcus Online Savings | Variable rate | ~3.85% APY |
| Ally 11-Month No-Penalty CD | 11-month lock with flex | ~4.20% APY |
| BMO Alto 1-year CD | 1-year lock | ~4.75% APY |
| Live Oak Bank 1-year CD | 1-year lock | ~4.60% APY |
| Top A-rated 5-year MYGA | 5-year lock, tax-deferred | ~5.65% APY |
Internal benchmarks: Best 5-Year CD Rates 2026 · Best 1-Year CD Rates 2026 · Online vs Brick-and-Mortar CDs.
When a MYGA beats this Chime CD
For Chime users with longer-term savings, the gap vs a MYGA is dramatic. Compare $50,000 over 5 years:
- Chime Savings at 2.00%: $50,000 grows to $55,204 over 5 years (taxable annually)
- A-rated 5-yr MYGA at 5.65%: $50,000 grows to $65,850 (tax-deferred)
- Pre-tax delta over 5 years: $10,646 in favor of the MYGA — over 21% of starting principal
If you have $50K+ sitting in Chime Savings as long-term cash reserves and you don't need it for 5 years, the MYGA route is dramatically more efficient. Chime is fine for paycheck-cycle spending; it's a bad place to compound long-term wealth.
Chime CD FAQ
Want to see if a MYGA beats this CD for your situation?
Free side-by-side: this CD vs. top MYGA rates for your state and amount.
CDs are safe and simple. MYGAs are insurance-company versions of CDs, often paying 50-150 bps more for the same lockup. The math depends on your tax bracket and state guaranty fund coverage.
Drop your info — within 24 hours you'll get a written side-by-side, no obligation, no high-pressure pitch.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Bottom line
Chime is a fintech with no CD product and a savings rate (~2.00%) that's roughly half of what dedicated online-bank HYSAs pay. If you're a Chime user with more than $5K-$10K of savings, open an external HYSA at Marcus or Ally for liquid money, and an external 1-year CD at BMO Alto or BrioDirect for locked rate. For 5-year retirement money, consider a top-rated MYGA — the spread vs Chime Savings is enormous.
About Hans Goldstein: Independent retirement income specialist. CA Life License #4163961. NPN #20602398. Reviews 30+ carriers and tracks bank CD rates weekly. Phone: 213-414-2808. Email: hans@goldsteinco.net.
Disclosure
This review reflects publicly available bank rate sheets and approximate APYs as of the date stated above. CD rates change frequently — sometimes weekly — and the rates above may be stale by the time you read this. Always confirm current rates and terms against the bank's current rate sheet and disclosure documents before opening an account. FDIC insurance covers $250,000 per depositor, per insured bank, per ownership category; deposits above that amount at a single bank are not insured. This article is general information for educational purposes; it is not personalized financial advice, a solicitation, or an offer of any specific product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) and is not a bank, deposit broker, or registered investment adviser. CDs are bank deposit products and are not sold by insurance producers; references to CDs are for comparison context only. MYGAs (multi-year guaranteed annuities) are insurance contracts, subject to surrender charges and state guaranty fund coverage rather than FDIC. Early withdrawal of a CD before the maturity date typically results in a penalty that may exceed interest earned. Always read the actual deposit account agreement and consult a licensed advisor before making material financial decisions.