Carver Bank vs. Chime
Comparing Carver Bank and Chime for high-yield savings: Carver Bank's High Yield Savings pays 4.00% 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? Carver Bank pays $100 more than Chime annually ($400 vs $300).
Choose Carver Bank if getting the best rate matters most, you want a no-strings-attached account, or you want Zelle for quick transfers.
Important Considerations
Chime requires a checking account to unlock its top savings rate, while Carver Bank offers its savings account standalone.
| Metric | Carver BankHigh Yield Savings Feb 21, 2026 | ChimeChime High-Yield Savings Account Feb 21, 2026 |
|---|---|---|
| APY | 4.00% | 0.75% - 3.00% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$150 $10,000+$300 $25,000+$750 |
Min Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingStable Rate | 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 Carver Bank vs. Chime
Executive Summary
Carver Bank offers a High Yield Savings account with a competitive 4.00% APY, making it a strong choice for savers, especially with no direct deposit requirement and no maintenance fees, provided the minimum balance of $5,000 is maintained. In contrast, Chime's High-Yield Savings Account provides a lower APY of 3.00% and requires a qualifying direct deposit of $200 or more within the preceding 34 days. Both accounts are online-only, but Carver Bank stands out with its higher APY and simpler access conditions.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.00%)
- ✓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 $300/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $750/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 $100 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
Carver Bank vs. Chime Savings Calculator
You earn $100 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+$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 Carver Bank and Chime dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Carver Bank | Chime |
|---|---|---|
| APY | 4.00% Verified: 2/21/2026 Stable (90d) | 3.00% Range: 0.75% - 3.00% Verified: 2/21/2026 ↘︎ 0.50%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 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | 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 | YesVerify FDIC | Yes |
| 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% | 3.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.3 | 3.4 |
Days Since Change | 354 | 22 |
12-Month High | 4.25% | 3.75% |
12-Month Low | 4.00% | 2.00% |
Adjustments / Mo | 0.08 | 0.25 |
Volatility Score | 0.010 | 0.145 |
How to read these metrics(Click to expand)
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Compare Carver Bank's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Carver Bank vs Ally Bank | 3.20% | $0 |
| Carver Bank vs American Express | 3.30% | $0 |
| Carver Bank vs Axos Bank | 4.21% | $0 |
| Carver Bank vs Bank of America | 0.01% | $100 |
| Carver Bank vs Barclays | 3.85% | $0 |
| Carver Bank vs Capital One | 3.30% | $0 |
| Carver Bank vs Chase Bank | 0.01% | $0 |
| Carver Bank vs CIT Bank | 3.75% | $100 |
| Carver Bank vs Citibank | 3.20% | $0 |
| Carver Bank vs Discover Bank | 3.30% | $0 |
| Carver Bank vs EverBank | 3.90% | $0 |
| Carver Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Carver Bank vs Newtek Bank | 4.20% | $0.01 |
| Carver Bank vs Openbank | 4.09% | $500 |
| Carver Bank vs Pibank | 4.60% | $0 |
| Carver Bank vs SoFi Bank | 4.00% | $0 |
| Carver Bank vs Synchrony Bank | 3.50% | $0 |
| Carver Bank vs Varo Bank | 5.00% | $0 |
| Carver Bank vs Wealthfront | 3.95% | $0 |
| Carver Bank vs Wells Fargo | 0.05% | $25 |