Chase Bank vs. SoFi Bank
Comparing Chase Bank and SoFi Bank for savings: Chase Bank's Chase Savings℠ pays 0.01% APY while SoFi Bank's SoFi Savings pays 4.00% APY (including a 6-month 0.70% promo boost).
Note: SoFi Bank 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? SoFi Bank pays $364 more than Chase Bank annually ($365 vs $1).
Choose Chase Bank if you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, you value in-person banking, or you're an Android user. Choose SoFi Bank if getting the best rate matters most.
Important Considerations
The key difference? SoFi Bank's 4.00% rate includes a promotional bonus for the first 6 months, after which it reverts to the standard rate (currently 3.30%). Chase Bank's 0.01% rate has no scheduled drop, though all rates are subject to change.
SoFi Bank requires a checking account to unlock its top savings rate, while Chase Bank offers its savings account standalone.
| Metric | Chase BankChase Savings℠ Apr 21, 2026 | SoFi BankSoFi Savings Apr 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.30% - 4.00% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | Limited offer: The 4.00% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Chase Bank vs. SoFi Bank
Executive Summary
SoFi Bank offers a competitive SoFi Savings account with an APY of 4.00%, which includes a temporary 0.70% boost for six months available through direct deposit or a $10/month subscription. This account is online-only and comes bundled with a checking account that yields a 0.50% APY. In contrast, Chase Bank's Chase Savings℠ has a significantly lower APY of 0.01%. While Chase's account has no minimum deposit or direct deposit requirement, it does incur a $5 maintenance fee unless certain conditions are met. Overall, SoFi Bank stands out as the winner with its higher APY and additional features.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- ✓No checking account or direct deposit required
- ✓Physical branch access (Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii.)
- ✓Higher rated Android app (4.8 vs 3.9)
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
- ✓Higher potential APY (4.00% vs 0.01%) on all balances
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $365 vs $1/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $3/yr).
Best for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $364 more interest on a $10,000 balance than Chase Bank's Chase Savings℠.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chase Bank vs. SoFi Bank Savings Calculator
You earn $363.9 more with SoFi Bank than Chase Bank 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.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$364.90(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,364.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chase Bank | SoFi Bank |
|---|---|---|
| APY | 0.01% Verified: 4/21/2026 Stable (90d) | 4.00% Range: 3.30% - 4.00% Verified: 4/21/2026 Stable (90d) |
| Product Name | Chase Savings℠ | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $5 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii. | N/A |
| Direct Deposit Req. | None | While direct deposit is not required, the alternative is a subscription fee of $10/month |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Native support added in 2024 for banking members. |
| BBB Rating | A- | A+ |
| Important Notes | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | Limited offer: The 4.00% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Next Steps | Visit SiteVerify at Chase Bank Non-sponsored link to official site | Visit SiteVerify at SoFi Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | SoFi Bank |
|---|---|---|
| Chase Savings℠ | SoFi Savings | |
Current APY | 0.01% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | 2.0 |
Days Since Change | 365 | 119 |
12-Month High | 0.01% | 4.50% |
12-Month Low | 0.01% | 3.80% |
Adjustments / Mo | 0.00 | 0.25 |
Volatility Score | 0.000 | 0.061 |
How to read these metrics(Click to expand)
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Compare Chase Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.10% | $0 |
| Chase Bank vs American Express | 3.20% | $0 |
| Chase Bank vs Axos Bank | 4.21% | $0 |
| Chase Bank vs Barclays | 3.75% | $0 |
| Chase Bank vs Capital One | 3.20% | $0 |
| Chase Bank vs Chime | 3.00% | $0 |
| Chase Bank vs CIT Bank | 3.75% | $100 |
| Chase Bank vs Discover Bank | 3.30% | $0 |
| Chase Bank vs EverBank | 3.90% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.50% | $0 |
| Chase Bank vs Newtek Bank | 4.20% | $0.01 |
| Chase Bank vs Openbank | 4.00% | $500 |
| Chase Bank vs Pibank | 4.40% | $0 |
| Chase Bank vs Synchrony Bank | 3.40% | $0 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
| Chase Bank vs Wealthfront | 4.20% | $0 |