Chime vs. Valley Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 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 | $1000 |
| 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 Savings Account has no minimum deposit requirement.
- Chime offers a high App Store rating of 4.8.
- Chime has no maintenance fees.
Potential Drawbacks
- Chime's current APY is 3.50%, down from 3.75% last month.
- Chime requires a direct deposit of $200 to qualify for the highest APY.
- Chime has no physical branches.
Valley Direct
Strengths
- Valley Direct offers a higher APY of 4.10% despite a recent drop from 4.30%.
- Valley Direct has an A+ BBB rating, indicating high trustworthiness.
- Accounts can be serviced at multiple branch locations in NJ, NY, FL, and AL.
Potential Drawbacks
- Valley Direct requires a minimum deposit of $1000 to open a savings account.
- Valley Direct has a lower Google Play rating of 4.5.
- Valley Direct is not BBB Accredited.
Summary: Chime offers a lower APY of 3.50% compared to Valley Direct's 4.10%, but has no minimum deposit or maintenance fees. Valley Direct has a higher BBB rating but requires a $1000 minimum deposit. Both banks have high App Store ratings, but Chime lacks physical branches while Valley Direct provides access to multiple locations.
→ As of October 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
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
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 10/16/2025) | 4.10% (as of 10/16/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $1000 | |
| 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 9 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) | 21.3 | 2.9 | |
| Rate Changes / Mo | 0.23 | 0.81 | |
| Days Since Last Change | 0 | 20 | |
| High (-9 m) | 3.75 % | 4.40 % | |
| Low (-9 m) | 2.00 % | 3.75 % | |
| Draw-down from High | -6.7 % | -6.8 % | |
| Volatility (CV) | 0.221 | 0.045 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 260 days.
- Low (-9 m)
- Lowest APY in the last 260 days.
- Draw-down from High
- How far today sits below the 9-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.
More Comparisons
Compare Chime's APY of 3.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chime vs Ally Bank | 3.40% | $0 |
| Chime vs American Express | 3.50% | $0 |
| Chime vs Axos Bank | 4.51% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs Bask Bank | 4.05% | $0 |
| Chime vs BrioDirect | 4.20% | $5,000 |
| Chime vs Capital One | 3.40% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 3.85% | $100 |
| Chime vs Citizens Access™ | 3.50% | $0.01 |
| Chime vs Discover Bank | 3.40% | $0 |
| Chime vs Elevault | 4.34% | $0 |
| Chime vs EverBank | 4.05% | $0 |
| Chime vs Fitness Bank | 4.75% | $100 |
| Chime vs FNBO Direct | 3.00% | $1 |
| Chime vs FVCbank | 4.10% | $500 |
| Chime vs GO2bank | 4.50% | $0 |
| Chime vs LendingClub | 4.20% | $0 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs Neighbors Bank | 4.50% | $0 |
| Chime vs Newtek Bank | 4.35% | $0 |
| Chime vs Peak Bank | 4.20% | $100 |
| Chime vs Pibank | 4.60% | $0 |
| Chime vs Presidential Bank | 4.50% | $5,000 |
| Chime vs Santander Bank | 0.01% | $25 |
| Chime vs SoFi Bank | 4.50% | $0 |
| Chime vs Synchrony Bank | 3.80% | $0 |
| Chime vs TIMBR | 4.40% | $1,000 |
| Chime vs UFB Direct | 3.96% | $5000 |
| Chime vs Varo Bank | 5.00% | $0 |
| Chime vs Wells Fargo | 2.51% | $25 |
| Chime vs Zynlo Bank | 4.20% | $10 |