Chime vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Chime
Chime High-Yield Savings Account
Up to3.50%APYDec 6, 2025FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 1.00% – 3.50%Show Fine Print & Trends Hide Details
Chime
Chime High-Yield Savings Account
SoFi Bank
SoFi Savings
Up to4.30%APYDec 6, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 3.60% – 4.30%Show Fine Print & Trends Hide Details
SoFi Bank
SoFi Savings
Looking for Simplicity?
Don't want a checking bundle? We track many high-yield banks that offer competitive rates without checking requirements.
Comparison Analysis
Comparing Chime vs. SoFi Bank
Why Chime?
- ✓Higher rated Android app (4.7 vs 4.0)
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 (4.30% vs 3.50%) on all balances
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $430 vs $350/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $1075 vs $875/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, SoFi Bank's SoFi Savings pays $80 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
Executive Summary
SoFi Bank offers a competitive SoFi Savings account with a high APY of 4.30%, which includes a temporary 0.70% boost for six months, making it an attractive option for savers. Unlike Chime, which requires a qualifying direct deposit of $200 or more to earn its 3.50% APY on the Chime High-Yield Savings Account, SoFi does not mandate direct deposit, although a subscription fee of $10/month may apply as an alternative. Both accounts are online-only and have no minimum deposit or maintenance fees, but SoFi's higher APY positions it as the winner in this comparison.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Chime and SoFi Bank.
| Feature | Chime | SoFi Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 12/6/2025 ↘︎ 0.25%90d Change | 4.30% Range: 3.60% - 4.30% Verified: 12/6/2025 ↗︎ 0.50%90d Change |
| Product Name | Chime High-Yield Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | Yes |
| Mobile Apps | iOS4.8 Android4.7 | iOS4.8 Android4.0 |
| BBB Rating | A+ | A+ |
| Important Notes | - | Limited offer: The 4.30% 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 |
Savings Comparison
SoFi Bank earns $515.3 more than Chime.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,114.10(10.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,114.10
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$2,629.40(12.7%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,629.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | SoFi Bank |
|---|---|---|
| Chime High-Yield Savings Account | SoFi Savings | |
Current APY | 3.50% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | 12.5 | 7.5 |
Days Since Change | 51 | 24 |
10-Month High | 3.75% | 4.50% |
10-Month Low | 2.00% | 3.80% |
Adjustments / Mo | 0.19 | 0.19 |
Volatility Score | 0.195 | 0.075 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Chime vs...
Comparing against other Bundled Accounts
Compare SoFi Bank vs...
Comparing against other Bundled Accounts
Simpler Options (No Bundles)
Looking for something different? Check out these top-rated alternatives.