Carver Bank vs. Chime
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Carver BankHigh Yield Savings Jan 7, 2026 | ChimeChime High-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 1.00% - 3.50% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Carver Bank vs. Chime
As of Carver Bank offers an APY of 4.00% for its High Yield Savings account, with a minimum balance of $5,000, compared to Chime's 3.50% APY for its Chime High-Yield Savings Account, with a minimum balance of $0.01.
Carver Bank pays $50 more than Chime on a $10,000 balance after one year. Carver Bank pays $400, while Chime pays $350 - an APY advantage for Carver Bank.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.50%)
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle®
Why Chime?
No distinct advantages found vs Carver Bank.
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $350/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $875/yr).
Best for Simplicity
Carver BankCarver Bank's High Yield Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
ChimeChime offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.8 (vs. 4.5)
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $50 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.
Executive Summary as of
Carver Bank offers a High Yield Savings account with a competitive 4.00% APY, making it a strong choice for savers looking for higher returns without the need for direct deposit or account bundling. This account requires a minimum deposit of $5,000 and is online-only. In contrast, Chime provides a High-Yield Savings Account with a lower APY of 3.50%, but it requires a qualifying direct deposit of $200 or more within the preceding 34 days. Chime has no minimum deposit requirement and is also online-only. Overall, Carver Bank's higher APY positions it as the better option for those meeting the minimum deposit criteria.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Carver Bank vs. Chime Savings Calculator
You earn $50 more with Carver Bank 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.
Carver Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Carver Bank | Chime |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 3.50% Range: 1.00% - 3.50% Verified: 1/7/2026 ↘︎ 0.25%90d Change |
| Product Name | High Yield Savings | Chime High-Yield Savings Account |
| Minimum Deposit | $5,000 | $0 |
| Min. Balance for APY | $5,000 | $0.01 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| 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 | iOS4.7 Android4.5 | iOS4.8 Android4.8 |
| Zelle® Support | Available Full native integration in digital banking. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Carver Bank Non-sponsored link to official site | Visit SiteVerify at Chime Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Carver Bank | Chime |
|---|---|---|
| High Yield Savings | Chime High-Yield Savings Account | |
Current APY | 4.00% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.0 | 9.5 |
Days Since Change | 309 | 83 |
11-Month High | 4.25% | 3.75% |
11-Month Low | 4.00% | 2.00% |
Adjustments / Mo | 0.09 | 0.18 |
Volatility Score | 0.017 | 0.180 |
How to read these metrics(Click to expand)
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