Chase Bank vs Sofi Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Chase Bank vs. SoFi Bank

As of July 15, 2025 Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, compared to SoFi Bank's 3.80% APY for its SoFi Savings account.

SoFi Bank yields $379 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while SoFi Bank pays $380 - an APY advantage for SoFi Bank.

Chase Bank

Strengths

  • Chase Bank offers a widely recognized A- BBB rating.
  • Chase Savings℠ has a $0 minimum deposit requirement.
  • Chase Bank has a high App Store rating of 4.8.

Potential Drawbacks

  • Chase Savings℠ has a low APY of 0.01%.
  • Chase Bank charges a $5 maintenance fee.

SoFi Bank

Strengths

  • SoFi Bank provides a competitive APY of 3.80%.
  • SoFi Bank has no maintenance fees.
  • SoFi Bank boasts an A+ BBB rating.

Potential Drawbacks

  • SoFi Savings requires direct deposit or $5,000 in Qualifying Deposits for the APY.
  • SoFi Bank is online-only, lacking physical branches.
Summary: SoFi Bank offers a significantly higher APY of 3.80% compared to Chase Bank's 0.01%. Additionally, SoFi has no maintenance fees and an A+ BBB rating, while Chase charges a $5 fee and has an A- rating. However, SoFi's APY requires direct deposit or a large deposit, while Chase's account has no such requirements. Both banks have high app ratings of 4.8 on the App Store.

Compare Chase Bank's vs SoFi Bank's Savings Accounts

Chase BankSoFi Bank
ProductChase Savings℠vsSoFi Savings
APY
0.01% (as of 7/15/2025)3.80% (as of 7/15/2025)
Bundled Account
NoYes
FDIC-insured
YesYes
Online OnlyNoYes
Compound Frequency
MonthlyDaily
Minimum Deposit$0$0
Minimum Balance for APY$0$0
Maintenance Fee$5$0
Direct Deposit Required
NoNo. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower
NoteAPY 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.The 3.80% APY requires either a direct deposit of regular income (of any amount) or a Qualifying Deposit of $5,000 for any 30-day period. The savings account comes bundled with a checking account.
Visit BankChase Savings℠SoFi Savings
App Store Rating4.8/54.8/5
Google Play Rating4.5/54.5/5
BBB RatingA-A+

Comparative Historical APY Insights (Last 6 Months)

Chase BankSoFi Bank
ProductChase Savings℠vsSoFi Savings
Latest APY0.01 %3.80 %
TrendSidewaysSideways
Slope (bps/mo)0.0-0.0
Rate Changes / Mo0.000.00
Days Since Last Change168168
High (-6 m)0.01 %3.80 %
Low (-6 m)0.01 %3.80 %
Draw-down from High0.0 %0.0 %
Volatility (CV)0.0000.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-6 m)
Highest APY in the last 168 days.
Low (-6 m)
Lowest APY in the last 168 days.
Draw-down from High
How far today sits below the 6-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Calculate Savings Growth for Chase Bank vs SoFi Bank

All calculations are based on APY.

Chase Bank

APY: 0.01%

Total savings breakdown:

  • Interest earned: $0.1 (0.01%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (99.99%)

Your total balance

$1,000.10

Effective APY: 0.01% (based on your deposit and contributions)

Total balance: $1,000.1

Earnings: $0.1

Bank Details

SoFi Bank

APY: 3.80%

Total savings breakdown:

  • Interest earned: $38 (3.66%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.34%)

Your total balance

$1,038.00

Effective APY: 3.80% (based on your deposit and contributions)

Total balance: $1,038

Earnings: $38

Bank Details

After 1 year Chase Bank would earn you $37.9 less than SoFi Bank.

More Comparisons

Compare Chase Bank's APY of 0.01% with other banks
Compare SoFi Bank's APY of 3.80% with other banks