Chime vs. Valley Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 16, 2025
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Summary of Chime vs. Valley Direct
Key Metrics at a Glance
| Feature | Chime | Valley Direct |
|---|---|---|
| Top Savings APY | 3.50% Chime Savings Account | 4.10% High-Yield Savings Account |
| Minimum to Open | $0 | $1,000 |
| Minimum Balance for Top APY | $0.01 | $0.01 |
| 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 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | Promo. Eligibility restricted to new customers. |
Chime
Strengths
- Chime offers a 3.50% APY with a direct deposit requirement.
- Chime has no maintenance fees and no minimum deposit requirement.
- Chime has an A+ BBB rating and is BBB Accredited.
Potential Drawbacks
- Chime requires a direct deposit of $200 to qualify for the highest APY.
- Chime has no physical branches for in-person service.
- Chime's APY is lower than Valley Direct's.
Valley Direct
Strengths
- Valley Direct offers a higher APY of 4.10% with no direct deposit requirement.
- Valley Direct has physical branches in NJ, NY, FL, and AL.
- Valley Direct charges no maintenance fees.
Potential Drawbacks
- Valley Direct requires a minimum deposit of $1,000 to open an account.
- Valley Direct is not BBB Accredited despite having an A+ rating.
- Valley Direct's APY has not changed in the last 30 days.
Summary: Chime provides a 3.50% APY with a direct deposit requirement, while Valley Direct offers a higher 4.10% APY without such a requirement. Chime has no minimum deposit and is BBB Accredited, but lacks physical branches. Valley Direct requires a $1,000 minimum deposit and is not BBB Accredited, but has branch locations for customer service. Both banks have no maintenance fees.
→ As of November 16, 2025 Chime offers an APY of 3.50% for its Chime Savings Account, with a minimum balance of $0.01, compared to Valley Direct's 4.10% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
→ Valley Direct yields $60 more than Chime on a $10,000 balance after one year. Chime pays $350, while Valley Direct pays $410 - an APY advantage for Valley Direct.
Calculate Savings Growth for Chime vs Valley Direct
All calculations are based on APY.
Chime - Chime Savings Account
Top APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewValley Direct - High-Yield Savings Account
Top APY: 4.10%
Total savings breakdown:
- Interest earned: $2,499.4 (12.19%)
- Total contributions: $13,000 (63.42%)
- Initial deposit: $5,000 (24.39%)
Your total balance
$20,499.40
Effective APY: 4.10% (based on your deposit and contributions)
Total balance: $20,499.4
Earnings: $2,499.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chime's total earnings would be $385.3 lower than Valley Direct's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Chime's vs Valley Direct's Savings Accounts
| Chime | Valley Direct | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | High-Yield Savings Account |
| APY | 1.00% - 3.50% (as of 11/16/2025) | 4.10% (as of 11/16/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $1,000 | |
| Minimum Balance for APY | $0.01 | $0.01 | |
| 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 | |
| Eligibility | United States | Only for new customers. Existing Valley Bank or Valley Direct customers may open a savings account with a somewhat lower rate. | |
| 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 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | Promo. Eligibility restricted to new customers. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.7/5 | 4.5/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 10 Months)
| Chime | Valley Direct | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | High-Yield Savings Account |
| Latest APY | 3.50 % | 4.10 % | |
| Trend | Rising | Sideways | |
| Slope (bps/mo) | 14.9 | 1.1 | |
| Rate Changes / Mo | 0.21 | 0.72 | |
| Days Since Last Change | 31 | 51 | |
| High (-10 m) | 3.75 % | 4.40 % | |
| Low (-10 m) | 2.00 % | 3.75 % | |
| Draw-down from High | -6.7 % | -6.8 % | |
| Volatility (CV) | 0.202 | 0.042 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 290 days.
- Low (-10 m)
- Lowest APY in the last 290 days.
- Draw-down from High
- How far today sits below the 10-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.