Chime vs. Everbank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Chime vs. EverBank
Key Metrics at a Glance
| Feature | Chime | EverBank |
|---|---|---|
| Top Savings APY | 3.50% Chime Savings Account | 4.05% Performance Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0.01 | $0 |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. |
Chime
Strengths
- Chime Savings Account offers a 3.50% APY, but requires a direct deposit of $200.
- Chime has an A+ BBB rating, indicating high trustworthiness.
- Chime's App Store rating is 4.8, significantly higher than EverBank's.
Potential Drawbacks
- Chime's APY decreased from 3.75% to 3.50% in the last 30 days.
- Chime requires a direct deposit to qualify for the highest APY.
EverBank
Strengths
- EverBank's Performance Savings offers a higher APY of 4.05% without direct deposit requirements.
- EverBank has 11 physical branches in Florida and California.
Potential Drawbacks
- EverBank's App Store rating is only 2.3, much lower than Chime's.
- EverBank is not BBB Accredited despite having an A+ rating.
Summary: Chime offers a competitive 3.50% APY, but requires a direct deposit, while EverBank provides a higher 4.05% APY without such a requirement. Chime boasts a strong A+ BBB rating and superior app ratings, whereas EverBank has physical branches but lower app ratings and lacks BBB accreditation. Overall, customers may prefer EverBank for higher yields, while Chime excels in trustworthiness and user experience.
→ As of October 21, 2025 Chime offers an APY of 3.50% for its Chime Savings Account, with a minimum balance of $0.01, compared to EverBank's 4.05% APY for its Performance Savings account, with a minimum balance of $0.
→ EverBank yields $55 more than Chime on a $10,000 balance after one year. Chime pays $350, while EverBank pays $405 - an APY advantage for EverBank.
Calculate Savings Growth for Chime vs EverBank
All calculations are based on APY.
Chime - Chime Savings Account
Top APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewEverBank - Performance Savings
Top APY: 4.05%
Total savings breakdown:
- Interest earned: $2,467 (12.05%)
- Total contributions: $13,000 (63.52%)
- Initial deposit: $5,000 (24.43%)
Your total balance
$20,467.00
Effective APY: 4.05% (based on your deposit and contributions)
Total balance: $20,467
Earnings: $2,467
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chime's total earnings would be $352.9 lower than EverBank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Chime's vs EverBank's Savings Accounts
| Chime | EverBank | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | Performance Savings |
| APY | 1.00% - 3.50% (as of 10/21/2025) | 4.05% (as of 10/21/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | No | |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | ||
| App Store Rating | 4.8/5 | 2.3/5 | |
| Google Play Rating | 4.7/5 | 1.8/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 9 Months)
| Chime | EverBank | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | Performance Savings |
| Latest APY | 3.50 % | 4.05 % | |
| Trend | Rising | Sideways | |
| Slope (bps/mo) | 20.4 | -1.8 | |
| Rate Changes / Mo | 0.23 | 0.11 | |
| Days Since Last Change | 5 | 32 | |
| High (-9 m) | 3.75 % | 4.30 % | |
| Low (-9 m) | 2.00 % | 4.05 % | |
| Draw-down from High | -6.7 % | -5.8 % | |
| Volatility (CV) | 0.219 | 0.019 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 264 days.
- Low (-9 m)
- Lowest APY in the last 264 days.
- Draw-down from High
- How far today sits below the 9-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.
More Comparisons
Compare Chime's APY of 3.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chime vs Ally Bank | 3.40% | $0 |
| Chime vs American Express | 3.50% | $0 |
| Chime vs Axos Bank | 4.51% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs Bask Bank | 4.05% | $0 |
| Chime vs BrioDirect | 4.20% | $5,000 |
| Chime vs Capital One | 3.40% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 3.85% | $100 |
| Chime vs Citizens Access™ | 3.50% | $0.01 |
| Chime vs Discover Bank | 3.40% | $0 |
| Chime vs Elevault | 4.34% | $0 |
| Chime vs Fitness Bank | 4.75% | $100 |
| Chime vs FNBO Direct | 3.00% | $1 |
| Chime vs FVCbank | 4.10% | $500 |
| Chime vs GO2bank | 4.50% | $0 |
| Chime vs LendingClub | 4.20% | $0 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs Neighbors Bank | 4.50% | $0 |
| Chime vs Newtek Bank | 4.35% | $0 |
| Chime vs Peak Bank | 4.20% | $100 |
| Chime vs Pibank | 4.60% | $0 |
| Chime vs Presidential Bank | 4.50% | $5,000 |
| Chime vs Santander Bank | 0.01% | $25 |
| Chime vs SoFi Bank | 4.50% | $0 |
| Chime vs Synchrony Bank | 3.80% | $0 |
| Chime vs TIMBR | 4.40% | $1,000 |
| Chime vs UFB Direct | 3.96% | $5000 |
| Chime vs Valley Direct | 4.10% | $1,000 |
| Chime vs Varo Bank | 5.00% | $0 |
| Chime vs Wells Fargo | 0.05% | $25 |
| Chime vs Zynlo Bank | 4.20% | $10 |