Chime vs. Synchrony Bank
Comparing Chime and Synchrony Bank for high-yield savings: Chime's Chime High-Yield Savings Account pays 3.00% APY while Synchrony Bank's High Yield Savings pays 3.40% 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? Synchrony Bank pays $40 more than Chime annually ($340 vs $300).
Choose Synchrony 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 Synchrony Bank offers its savings account standalone.
| Metric | ChimeChime High-Yield Savings Account Apr 22, 2026 | Synchrony BankHigh Yield Savings Jun 5, 2026 |
|---|---|---|
| APY | 0.75% - 3.00% | 3.40% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$170 $10,000+$340 $25,000+$850 |
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 MinimumsGreat iOS AppGreat Android 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.
Comparison Analysis
Comparing Chime vs. Synchrony Bank
Executive Summary
Comparing Chime and Synchrony Bank, Synchrony Bank emerges as the winner with a higher APY of 3.40% on its High Yield Savings account, while Chime offers a 3.00% APY on its High-Yield Savings Account. Synchrony Bank's account does not require a direct deposit, making it more accessible, whereas Chime requires a qualifying direct deposit of $200 or more within the preceding 34 days. Both accounts have no minimum deposit or maintenance fees and are online-only. For those seeking higher returns without the need for direct deposit, Synchrony Bank is the more favorable option.
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?
No distinct advantages found vs Synchrony Bank.
Why Synchrony Bank?
- ✓Higher potential APY (3.40% vs 3.00%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $340 vs $300/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $850 vs $750/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.40% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $40 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. Synchrony Bank Savings Calculator
You earn $40 more with Synchrony 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
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$340.00(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,340.00
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 Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Chime | Synchrony Bank |
|---|---|---|
| APY | 3.00% Range: 0.75% - 3.00% Verified: 4/22/2026 ↘︎ 0.50%90d Change | 3.40% Verified: 6/5/2026 ↘︎ 0.10%90d Change |
| Product Name | Chime High-Yield Savings Account | High Yield 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 | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Synchrony Bank |
|---|---|---|
| Chime High-Yield Savings Account | High Yield Savings | |
Current APY | 3.00% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | -7.5 | -4.3 |
Days Since Change | 82 | 1 |
12-Month High | 3.75% | 4.00% |
12-Month Low | 3.00% | 3.40% |
Adjustments / Mo | 0.16 | 0.33 |
Volatility Score | 0.085 | 0.048 |
How to read these metrics(Click to expand)
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