Chime vs Presidential Bank
High-Yield Savings Accounts Comparison

Last Updated: August 29, 2025

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Summary of Chime vs. Presidential Bank

As of August 29, 2025 Chime offers an APY of 3.75% for its Chime Savings Account account, compared to Presidential Bank's 4.50% APY for its Advantage Savings account.

Presidential Bank yields $75 more than Chime on a $10,000 balance after one year. Chime pays $375, while Presidential Bank pays $450 - an APY advantage for Presidential Bank.

Chime

Strengths

  • Chime Savings Account has no minimum deposit requirement.
  • Chime offers a competitive APY of 3.75%, unchanged from 30 days ago.
  • Chime has a high App Store rating of 4.8.

Potential Drawbacks

  • Chime requires a direct deposit of $200 to qualify for the 3.75% APY.
  • Chime does not have physical branches.

Presidential Bank

Strengths

  • Presidential Bank's Advantage Savings offers a higher APY of 4.5%, unchanged from 30 days ago.
  • Presidential Bank has 10 branches in Maryland, Virginia, and D.C.

Potential Drawbacks

  • Presidential Bank requires a $5,000 minimum deposit to open an account.
  • Presidential Bank's Google Play rating is lower at 4.2.
Summary: Chime offers a 3.75% APY with no minimum deposit but requires a $200 direct deposit. Presidential Bank provides a higher 4.5% APY but needs a $5,000 minimum deposit and has physical branches. Both banks have an A- BBB rating, but Chime has a better App Store rating while Presidential Bank has a lower Google Play rating.

Compare Chime's vs Presidential Bank's Savings Accounts

ChimePresidential Bank
ProductChime Savings AccountvsAdvantage Savings
APY
1.25% - 3.75% (as of 8/29/2025)4.00% - 4.50% (as of 8/29/2025)
Bundled Account
YesYes
FDIC-insured
YesYes
Online OnlyYesNo
Compound Frequency
DailyMonthly
Minimum Deposit$0$5,000
Minimum Balance for APY$0.01N/A
Maintenance Fee$0$0
Direct Deposit Required
Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 daysYes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.
NoteChime® 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 3.75% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.25%.
App Store Rating4.8/54.8/5
Google Play Rating4.7/54.2/5
BBB RatingA-A-

Comparative Historical APY Insights (Last 7 Months)

ChimePresidential Bank
ProductChime Savings AccountvsAdvantage Savings
Latest APY3.75 %4.50 %
TrendRisingSideways
Slope (bps/mo)29.40.0
Rate Changes / Mo0.140.00
Days Since Last Change152212
High (-7 m)3.75 %4.50 %
Low (-7 m)2.00 %4.50 %
Draw-down from High0.0 %0.0 %
Volatility (CV)0.2410.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 7 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 (-7 m)
Highest APY in the last 213 days.
Low (-7 m)
Lowest APY in the last 213 days.
Draw-down from High
How far today sits below the 7-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 Chime vs Presidential Bank

All calculations are based on APY.

Chime

APY: 3.75%

Total savings breakdown:

  • Interest earned: $2,273.8 (11.22%)
  • Total contributions: $13,000 (64.12%)
  • Initial deposit: $5,000 (24.66%)

Your total balance

$20,273.80

Effective APY: 3.75% (based on your deposit and contributions)

Total balance: $20,273.8

Earnings: $2,273.8

Bank Overview

Presidential Bank

APY: 4.50%

Total savings breakdown:

  • Interest earned: $2,760.1 (13.30%)
  • Total contributions: $13,000 (62.62%)
  • Initial deposit: $5,000 (24.08%)

Your total balance

$20,760.10

Effective APY: 4.50% (based on your deposit and contributions)

Total balance: $20,760.1

Earnings: $2,760.1

Bank Overview

With a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chime's total earnings would be $486.3 lower than Presidential Bank's total earnings.

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

More Comparisons

Compare Chime's APY of 3.75% with other banks
Compare Presidential Bank's APY of 4.50% with other banks