Chase Bank vs. SoFi Bank
Chase Bank's Chase Savings℠ pays 0.01% APY while SoFi Bank's SoFi Savings pays 4.00% APY.
Note: SoFi Bank's SoFi Savings also needs 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? SoFi Bank pays $354 more than Chase Bank annually ($355 vs $1).
Choose Chase Bank if you want a no-strings-attached account, or you're an Android user. Choose SoFi Bank if getting the best rate matters most.
Important Considerations
SoFi Bank's SoFi Savings pays its top rate only if you also open a checking account with SoFi Bank, while Chase Bank's Chase Savings℠ stands alone.
| Metric | Chase BankChase Savings℠ Sep 3, 2026 | SoFi BankSoFi Savings Sep 4, 2026 |
|---|---|---|
| APY | 0.01% | 3.10% - 4.00% |
Earns in a year | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$178 $10,000+$355 $25,000+$888 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | Limited offer: The stated APY includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with an interest-bearing checking account. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Chase Bank vs. SoFi Bank
Executive Summary
SoFi Bank offers a significant advantage with its SoFi Savings account, which provides an impressive APY of 3.80% for customers who maintain eligible direct deposits or $5,000 in qualifying deposits every 31 days. This promotional rate includes a temporary boost for the first six months. In contrast, Chase Bank's highest-yielding product, the Chase Savings℠ account, offers a minimal APY of 0.01%. While Chase does provide various savings options, none come close to SoFi's competitive rate. Additionally, SoFi's account is online-only and comes bundled with an interest-bearing checking account, making it a more attractive option for those seeking higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- No checking account or direct deposit required
- Higher rated Android app (4.8 vs 3.8)
- Offers 4 different high-yield savings options
Why SoFi Bank?
- Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- Higher potential APY (4.00% vs 0.01%) on all balances
Key Feature Differences
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $355 vs $1/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $888 vs $3/yr).
Better for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $354 more interest on a $10,000 balance than Chase Bank's Chase Savings℠.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chase Bank vs. SoFi Bank Savings Calculator
You earn $353.9 more with SoFi Bank than Chase Bank 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.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$354.90(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,354.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chase Bank | SoFi Bank |
|---|---|---|
| APY | 0.01% Observed: 9/3/2026 Stable over 90 days | 4.00% Range: 3.10% - 4.00% Observed: 9/4/2026 0.20%90-day change |
| Product Name | Chase Savings℠ | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $5 | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| Account Type | Online & Branches | Online Only |
| Physical Branches | 5,392 (AL, AR, AZ, CA, CO, CT, DC, DE (+41 more)) | 4 (CA, UT) |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Native support added in 2024 for banking members. |
| BBB Rating | A- | A+ |
| Important Notes | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | Limited offer: The stated APY includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with an interest-bearing checking account. |
| Next Steps | Visit SiteVerify at Chase Bank Non-sponsored link to official site | Visit SiteVerify at SoFi Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | SoFi Bank |
|---|---|---|
| Chase Savings℠ | SoFi Savings | |
Current APY | 0.01% | 4.00% |
Trend | Stable | Stable |
Speed of change | 0.00 | -0.08 |
Days Since Change | 361 | 0 |
12-Month High | 0.01% | 4.50% |
12-Month Low | 0.01% | 3.80% |
Changes per month | 0.00 | 0.41 |
Steadiness | 0.000 | 0.051 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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Compare Chase Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.00% | $0 |
| Chase Bank vs American Express | 3.00% | $0 |
| Chase Bank vs Axos Bank | 4.21% | $0 |
| Chase Bank vs Barclays | 3.65% | $0 |
| Chase Bank vs Capital One | 3.50% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs CIT Bank | 3.75% | $100 |
| Chase Bank vs EverBank | 3.90% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Chase Bank vs Newtek Bank | 4.20% | $100 |
| Chase Bank vs Openbank | 3.80% | $500 |
| Chase Bank vs Pibank | 4.10% | $0 |
| Chase Bank vs Synchrony Bank | 3.30% | $0 |
| Chase Bank vs Varo Bank | 3.75% | $0 |
| Chase Bank vs Wealthfront | 3.95% | $0 |