Chime vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 21, 2026 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 3.65% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Chime vs. Synchrony Bank
As of Chime offers an APY of 3.50% for its Chime High-Yield Savings Account, with a minimum balance of $0.01, compared to Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
Synchrony Bank pays $15 more than Chime on a $10,000 balance after one year. Chime pays $350, while Synchrony Bank pays $365 - an APY advantage for Synchrony Bank.
Why Chime?
No distinct advantages found vs Synchrony Bank.
Why Synchrony Bank?
- ✓Higher potential APY (3.65% vs 3.50%) 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. $365 vs $350/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $912 vs $875/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $15 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.
Executive Summary as of
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.65%, making it the top choice compared to Chime's High-Yield Savings Account, which has an APY of 3.50%. Synchrony Bank's account has no direct deposit requirement, providing greater accessibility, while Chime requires a qualifying direct deposit of $200 or more within the preceding 34 days. Both accounts are online-only and have no maintenance fees or minimum balance requirements, but Synchrony Bank stands out for its simplicity and higher returns, particularly beneficial for larger deposits.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Chime vs. Synchrony Bank Savings Calculator
You earn $15 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+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chime | Synchrony Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/21/2026 Stable (90d) | 3.65% Verified: 1/21/2026 ↘︎ 0.15%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 |
| 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 | No |
| Mobile Apps | iOS4.8 Android4.8 | iOS4.8 Android4.5 |
| 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 | 3.50% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | 8.5 | -3.5 |
Days Since Change | 97 | 64 |
12-Month High | 3.75% | 4.10% |
12-Month Low | 2.00% | 3.65% |
Adjustments / Mo | 0.17 | 0.25 |
Volatility Score | 0.175 | 0.034 |
How to read these metrics(Click to expand)
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