Chime vs. Sallie Mae Bank
Comparing Chime and Sallie Mae Bank for high-yield savings: Chime's Chime High-Yield Savings Account pays 3.00% APY while Sallie Mae Bank's High-Yield Savings Account pays 3.90% 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? Sallie Mae Bank pays $90 more than Chime annually ($390 vs $300).
Choose Chime if mobile app quality matters. Choose Sallie Mae 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 Sallie Mae Bank offers its savings account standalone.
| Metric | ChimeChime High-Yield Savings Account Feb 6, 2026 | Sallie Mae BankHigh-Yield Savings Account Feb 6, 2026 |
|---|---|---|
| APY | 0.75% - 3.00% | 3.90% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsDaily CompoundingStable Rate |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Chime vs. Sallie Mae Bank
Executive Summary
Sallie Mae Bank offers a High-Yield Savings Account with a competitive APY of 3.90%, making it the winner in this comparison. This account does not require a direct deposit, providing greater flexibility for account holders. In contrast, Chime's High-Yield Savings Account offers a lower APY of 3.00%, and it requires a qualifying direct deposit of $200 or more within the preceding 34 days. Both banks provide online-only services and have no maintenance fees or minimum balance requirements. For those seeking higher returns without additional conditions, Sallie Mae Bank is the preferable choice.
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 iOS app (4.8 vs 1.5)
- ✓Higher rated Android app (4.8 vs 1.6)
Why Sallie Mae Bank?
- ✓Higher potential APY (3.90% vs 3.00%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account earns more on smaller deposits (approx. $390 vs $300/yr).
Better Returns at $25,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $975 vs $750/yr).
Best for Simplicity
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account offers 3.90% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
ChimeChime offers an iOS app rated 4.8 (vs. 1.5) and Android app rated 4.8 (vs. 1.6)
Shared Benefits
Over a 1-year period, Sallie Mae Bank's High-Yield Savings Account pays $90 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. Sallie Mae Bank Savings Calculator
You earn $90 more with Sallie Mae 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
Sallie Mae Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 Sallie Mae Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Chime | Sallie Mae Bank |
|---|---|---|
| APY | 3.00% Range: 0.75% - 3.00% Verified: 2/6/2026 ↘︎ 0.50%90d Change | 3.90% Verified: 2/6/2026 Stable (90d) |
| Product Name | Chime High-Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | N/A |
| 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 Sallie Mae Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Sallie Mae Bank |
|---|---|---|
| Chime High-Yield Savings Account | High-Yield Savings Account | |
Current APY | 3.00% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | 6.6 | -0.0 |
Days Since Change | 7 | 365 |
12-Month High | 3.75% | 3.90% |
12-Month Low | 2.00% | 3.90% |
Adjustments / Mo | 0.25 | 0.00 |
Volatility Score | 0.165 | 0.000 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Chime's APY of 3.00% with other banks
Compare Sallie Mae Bank's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Sallie Mae Bank vs Ally Bank | 3.30% | $0 |
| Sallie Mae Bank vs American Express | 3.30% | $0 |
| Sallie Mae Bank vs Axos Bank | 4.21% | $0 |
| Sallie Mae Bank vs Bank of America | 0.01% | $100 |
| Sallie Mae Bank vs Barclays | 4.00% | $0 |
| Sallie Mae Bank vs Capital One | 3.30% | $0 |
| Sallie Mae Bank vs Chase Bank | 0.01% | $0 |
| Sallie Mae Bank vs CIT Bank | 3.75% | $100 |
| Sallie Mae Bank vs Citibank | 3.20% | $0 |
| Sallie Mae Bank vs Discover Bank | 3.30% | $0 |
| Sallie Mae Bank vs EverBank | 3.90% | $0 |
| Sallie Mae Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Sallie Mae Bank vs Newtek Bank | 4.20% | $0.01 |
| Sallie Mae Bank vs Openbank | 4.09% | $500 |
| Sallie Mae Bank vs Pibank | 4.60% | $0 |
| Sallie Mae Bank vs SoFi Bank | 4.00% | $0 |
| Sallie Mae Bank vs Synchrony Bank | 3.50% | $0 |
| Sallie Mae Bank vs Varo Bank | 5.00% | $0 |
| Sallie Mae Bank vs Wealthfront | 3.95% | $0 |
| Sallie Mae Bank vs Wells Fargo | 0.05% | $25 |