Betterment vs. Chime
Comparing Betterment and Chime for high-yield savings: Betterment's Cash Reserve pays 3.90% APY while Chime's Chime High-Yield Savings Account pays 3.00% APY.
Note: Chime requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Betterment pays $90 more than Chime annually ($390 vs $300).
Choose Betterment if getting the best rate matters most, or you want a no-strings-attached account.
Important Considerations
Chime requires a checking account to unlock its top savings rate, while Betterment offers its savings account standalone.
| Metric | BettermentCash Reserve Mar 24, 2026 | ChimeChime High-Yield Savings Account Mar 24, 2026 |
|---|---|---|
| APY | 3.25% - 3.90% | 0.75% - 3.00% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$150 $10,000+$300 $25,000+$750 |
Min Deposit | $10 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Betterment vs. Chime
Executive Summary
Betterment offers a competitive Cash Reserve savings account with an APY of 3.90%, available to new customers, while existing customers earn a lower rate of 3.25%. This account requires no minimum balance or maintenance fees and is entirely online. In contrast, Chime's High-Yield Savings Account provides a slightly lower APY of 3.00%, but it requires a qualifying direct deposit of $200 or more within the preceding 34 days. Both accounts have no minimum deposit, but Betterment's higher APY makes it the more attractive option for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Betterment?
- ✓Higher potential APY (3.90% vs 3.00%) on all balances
- ✓No checking account or direct deposit required
Why Chime?
- ✓Available to New & Existing Customers
— Key Feature Differences —
Better Returns at $10,000
BettermentBetterment's Cash Reserve earns more on smaller deposits (approx. $390 vs $300/yr).
Better Returns at $25,000
BettermentBetterment's Cash Reserve pulls ahead with larger amounts (approx. $975 vs $750/yr).
Shared Benefits
Over a 1-year period, Betterment's Cash Reserve pays $90 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Betterment vs. Chime Savings Calculator
You earn $90 more with Betterment than Chime on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $299 per year in interest.
Both Betterment and Chime dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Betterment | Chime |
|---|---|---|
| APY | 3.90% Range: 3.25% - 3.90% Verified: 3/24/2026 ↗︎ 0.65%90d Change | 3.00% Range: 0.75% - 3.00% Verified: 3/24/2026 ↘︎ 0.50%90d Change |
| Product Name | Cash Reserve | Chime High-Yield Savings Account |
| Minimum Deposit | $10 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | N/A | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | Yes | Yes |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | A+ |
| Important Notes | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Next Steps | Visit SiteVerify at Betterment Non-sponsored link to official site | Visit SiteVerify at Chime Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Chime |
|---|---|---|
| Cash Reserve | Chime High-Yield Savings Account | |
Current APY | 3.90% | 3.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.8 | -4.6 |
Days Since Change | 32 | 53 |
12-Month High | 4.00% | 3.75% |
12-Month Low | 3.25% | 2.00% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.083 | 0.094 |
How to read these metrics(Click to expand)
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Compare Betterment's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Betterment vs Ally Bank | 3.20% | $0 |
| Betterment vs American Express | 3.20% | $0 |
| Betterment vs Axos Bank | 4.21% | $0 |
| Betterment vs Barclays | 3.85% | $0 |
| Betterment vs Capital One | 3.20% | $0 |
| Betterment vs CIT Bank | 3.75% | $100 |
| Betterment vs Discover Bank | 3.30% | $0 |
| Betterment vs EverBank | 3.90% | $0 |
| Betterment vs Marcus by Goldman Sachs | 3.65% | $0 |
| Betterment vs Newtek Bank | 4.20% | $0.01 |
| Betterment vs Openbank | 4.09% | $500 |
| Betterment vs Pibank | 4.60% | $0 |
| Betterment vs SoFi Bank | 4.00% | $0 |
| Betterment vs Synchrony Bank | 3.50% | $0 |
| Betterment vs Varo Bank | 5.00% | $0 |
| Betterment vs Wealthfront | 4.20% | $0 |