Chime vs. SoFi Bank
Comparing Chime and SoFi Bank for high-yield savings: Chime's Chime High-Yield Savings Account pays 3.00% APY while SoFi Bank's SoFi Savings pays 4.00% APY (including a 6-month 0.70% promo boost).
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? SoFi Bank pays $65 more than Chime annually ($365 vs $300).
Choose Chime if you want to avoid a promo rate with a scheduled drop, or you're an Android user. Choose SoFi Bank if getting the best rate matters most, or you want Zelle for quick transfers.
Important Considerations
The key difference? SoFi Bank's 4.00% rate includes a promotional bonus for the first 6 months, after which it reverts to the standard rate (currently 3.30%). Chime's 3.00% rate has no scheduled drop, though all rates are subject to change.
Both banks require a checking account to access their highest savings rates.
| Metric | ChimeChime High-Yield Savings Account Apr 21, 2026 | SoFi BankSoFi Savings Apr 21, 2026 |
|---|---|---|
| APY | 0.75% - 3.00% | 3.30% - 4.00% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Limited offer: The 4.00% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Looking for Simplicity?
Don't want a checking bundle? We track many high-yield banks that offer competitive rates without checking requirements.
Executive Summary
SoFi Bank offers a competitive APY of 4.00% on its SoFi Savings account, which is available through a direct deposit or a $10 monthly subscription fee. This account comes bundled with a checking account offering a lower 0.50% APY. In contrast, Chime's High-Yield Savings Account provides a lower APY of 3.00%, requiring a qualifying direct deposit of $200 or more within the last 34 days. Both accounts are online-only and have no maintenance fees, but SoFi's higher APY makes it the more attractive option for savers.
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 3.9)
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
- ✓Higher potential APY (4.00% vs 3.00%) on all balances
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $365 vs $300/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $750/yr).
Requires Banking Relationship
Both banks require a checking account bundle and qualifying requirements to access their highest rates.
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $65 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
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Chime vs. SoFi Bank Savings Calculator
You earn $64.9 more with SoFi 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
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$364.90(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,364.90
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 SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Chime | SoFi Bank |
|---|---|---|
| APY | 3.00% Range: 0.75% - 3.00% Verified: 4/21/2026 ↘︎ 0.50%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 4/21/2026 Stable (90d) |
| Product Name | Chime High-Yield Savings Account | SoFi Savings |
| 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 | While direct deposit is not required, the alternative is a subscription fee of $10/month |
| Checking Bundle | Yes | Yes |
| Mobile Apps | ||
| FDIC Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | A+ |
| Important Notes | - | Limited offer: The 4.00% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at SoFi Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | SoFi Bank |
|---|---|---|
| Chime High-Yield Savings Account | SoFi Savings | |
Current APY | 3.00% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -7.4 | 2.0 |
Days Since Change | 81 | 119 |
12-Month High | 3.75% | 4.50% |
12-Month Low | 3.00% | 3.80% |
Adjustments / Mo | 0.16 | 0.25 |
Volatility Score | 0.084 | 0.061 |
How to read these metrics(Click to expand)
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