Chime vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Chime vs. Synchrony Bank
As of August 29, 2025 Chime offers an APY of 3.75% for its Chime Savings Account account, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account.
Synchrony Bank yields $5 more than Chime on a $10,000 balance after one year. Chime pays $375, while Synchrony Bank pays $380 - an APY advantage for Synchrony Bank.
Chime
Strengths
- Chime offers a competitive APY of 3.75%.
- Chime has a strong BBB rating of A-.
- Chime's App Store rating is 4.8.
Potential Drawbacks
- Chime requires a direct deposit of $200 to earn the APY.
- Chime's Google Play rating is lower at 4.7.
- Chime's lower APY is 1.25%.
Synchrony Bank
Strengths
- Synchrony Bank provides a slightly higher APY of 3.80%.
- Synchrony Bank does not require direct deposit for its APY.
- Synchrony Bank has no maintenance fees.
Potential Drawbacks
- Synchrony Bank is not rated by the BBB.
- Synchrony's Google Play rating is 4.5.
- Synchrony Bank's APY has not changed recently.
Summary: Chime offers a lower APY of 3.75% with a direct deposit requirement, while Synchrony Bank provides a slightly higher APY of 3.80% without such a requirement. Chime has a solid BBB rating of A-, whereas Synchrony Bank lacks a BBB rating. Both banks have high App Store ratings, but Chime leads with 4.8 compared to Synchrony's 4.8 and 4.5 on Google Play.
Compare Chime's vs Synchrony Bank's Savings Accounts
| Chime | Synchrony Bank | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | High Yield Savings |
| APY | 1.25% - 3.75% (as of 8/29/2025) | 3.80% (as of 8/29/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | No | |
| Note | Chime® 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 Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.7/5 | 4.5/5 | |
| BBB Rating | A- | Not Rated |
Comparative Historical APY Insights (Last 7 Months)
| Chime | Synchrony Bank | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | High Yield Savings |
| Latest APY | 3.75 % | 3.80 % | |
| Trend | Rising | Sideways | |
| Slope (bps/mo) | 29.4 | -4.3 | |
| Rate Changes / Mo | 0.14 | 0.28 | |
| Days Since Last Change | 152 | 88 | |
| High (-7 m) | 3.75 % | 4.10 % | |
| Low (-7 m) | 2.00 % | 3.80 % | |
| Draw-down from High | 0.0 % | -7.3 % | |
| Volatility (CV) | 0.241 | 0.026 |
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 212 days.
- Low (-7 m)
- Lowest APY in the last 212 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 Synchrony 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 OverviewSynchrony Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chime's total earnings would be $32.1 lower than Synchrony 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
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Chime vs Ally Bank | 3.50% | $0 |
| Chime vs American Express | 3.50% | $0 |
| Chime vs Axos Bank | 4.46% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs Capital One | 3.50% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 4.00% | $100 |
| Chime vs Discover Bank | 3.50% | $0 |
| Chime vs Fitness Bank | 4.85% | $100 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs Presidential Bank | 4.50% | $5,000 |
| Chime vs SoFi Bank | 3.80% | $0 |
| Chime vs UFB Direct | 4.21% | $5000 |
| Chime vs Varo Bank | 5.00% | $0 |
| Chime vs Wells Fargo | 2.51% | $25 |
Compare Synchrony Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Synchrony Bank vs Ally Bank | 3.50% | $0 |
| Synchrony Bank vs American Express | 3.50% | $0 |
| Synchrony Bank vs Axos Bank | 4.46% | $0 |
| Synchrony Bank vs Bank of America | 0.01% | $100 |
| Synchrony Bank vs Barclays | 4.10% | $0 |
| Synchrony Bank vs Capital One | 3.50% | $0 |
| Synchrony Bank vs Chase Bank | 0.01% | $0 |
| Synchrony Bank vs CIT Bank | 4.00% | $100 |
| Synchrony Bank vs Discover Bank | 3.50% | $0 |
| Synchrony Bank vs Fitness Bank | 4.85% | $100 |
| Synchrony Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Synchrony Bank vs Presidential Bank | 4.50% | $5,000 |
| Synchrony Bank vs SoFi Bank | 3.80% | $0 |
| Synchrony Bank vs UFB Direct | 4.21% | $5000 |
| Synchrony Bank vs Varo Bank | 5.00% | $0 |
| Synchrony Bank vs Wells Fargo | 2.51% | $25 |