As it gears up to go public, Chime is going all in on new features in an effort to attract more customers.
The digital bank is offering customers who agree to have their paychecks directly deposited into a Chime savings or checking account an APY of 3.75%, it tells TechCrunch exclusively. For those who don’t choose to direct deposit, the interest rate of 2% for standard users is still competitive.
By comparison, the national average savings account yield is 0.61% APY, according to Bankrate’s survey of institutions as of the week of March 24.
While Chime Chief Product Officer Madhu Muthukumar didn’t say it outright, the
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