Chime vs. Ivy Bank
Comparing Chime and Ivy Bank for high-yield savings: Chime's Chime High-Yield Savings Account pays 3.00% APY while Ivy Bank's High-Yield Savings Account pays 3.85% 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? Ivy Bank pays $85 more than Chime annually ($385 vs $300).
Choose Chime if you're an Android user. Choose Ivy Bank if getting the best rate matters most, or you want a no-strings-attached account.
Important Considerations
Chime requires a checking account to unlock its top savings rate, while Ivy Bank offers its savings account standalone.
| Metric | ChimeChime High-Yield Savings Account Apr 22, 2026 | Ivy BankHigh-Yield Savings Account May 22, 2026 |
|---|---|---|
| APY | 0.75% - 3.00% | 0.05% - 3.85% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$193 $10,000+$385 $25,000+$963 |
Min Deposit | $0 | $2,500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredMod. MinimumGreat iOS AppDaily 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 4.10% APY.
Executive Summary
Ivy Bank offers a High-Yield Savings Account with an APY of 3.85%, making it the winner in this comparison. In contrast, Chime's High-Yield Savings Account provides a lower APY of 3.00%. While Chime requires a qualifying direct deposit of $200 or more within the preceding 34 days, Ivy Bank does not have this requirement but mandates a minimum deposit and balance of $2,500. Both banks operate online only and charge no maintenance fees. However, eligibility for Ivy Bank is restricted to residents of California and U.S. Territories, excluding the District of Columbia.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chime?
- ✓Higher rated Android app (4.7 vs 3.8)
- ✓Available Nationwide
Why Ivy Bank?
- ✓Higher potential APY (3.85% vs 3.00%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $385 vs $300/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $963 vs $750/yr).
Best Mobile App Experience
ChimeChime offers an iOS app rated 4.8 (vs. 4.6) and Android app rated 4.7 (vs. 3.8)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $85 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
Chime vs. Ivy Bank Savings Calculator
You earn $85 more with Ivy 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.
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
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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 Chime and Ivy Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Chime | Ivy Bank |
|---|---|---|
| APY | 3.00% Range: 0.75% - 3.00% Verified: 4/22/2026 ↘︎ 0.50%90d Change | 3.85% Range: 0.05% - 3.85% Verified: 5/22/2026 Stable (90d) |
| Product Name | Chime High-Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $2,500 |
| Min. Balance for APY | $0.01 | $2,500 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A- |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at Ivy Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Ivy Bank |
|---|---|---|
| Chime High-Yield Savings Account | High-Yield Savings Account | |
Current APY | 3.00% | 3.85% |
Trend | Stable | Stable |
Velocity (bps/mo) | -13.9 | -7.6 |
Days Since Change | 82 | 63 |
5-Month High | 3.50% | 4.25% |
5-Month Low | 3.00% | 3.85% |
Adjustments / Mo | 0.19 | 0.56 |
Volatility Score | 0.077 | 0.038 |
How to read these metrics(Click to expand)
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Compare Chime's APY of 3.00% with other banks
Compare Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.10% | $0 |
| Ivy Bank vs American Express | 3.10% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Barclays | 3.75% | $0 |
| Ivy Bank vs Capital One | 3.10% | $0 |
| Ivy Bank vs CIT Bank | 3.75% | $100 |
| Ivy Bank vs Discover Bank | 3.30% | $0 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.50% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $0.01 |
| Ivy Bank vs Openbank | 4.00% | $500 |
| Ivy Bank vs Pibank | 4.40% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Synchrony Bank | 3.40% | $0 |
| Ivy Bank vs Varo Bank | 5.00% | $0 |
| Ivy Bank vs Wealthfront | 4.20% | $0 |