Chime vs. Ivy Bank
Chime's Chime High-Yield Savings Account pays 3.75% APY while Ivy Bank's High-Yield Savings Account pays 3.85% APY.
Note: Chime's Chime High-Yield Savings Account 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? Ivy Bank pays $10 more than Chime annually ($385 vs $375).
Choose Chime if you're an Android user (no Android app for Ivy Bank). Choose Ivy Bank if you want a no-strings-attached account.
Important Considerations
Chime's Chime High-Yield Savings Account pays its top rate only if you also open a checking account with Chime, while Ivy Bank's High-Yield Savings Account stands alone.
| Metric | ChimeChime High-Yield Savings Account Sep 11, 2026 | Ivy BankHigh-Yield Savings Account Sep 11, 2026 |
|---|---|---|
| APY | 3.75% | 3.85% |
Earns in a year | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$193 $10,000+$385 $25,000+$963 |
Min. Deposit | $0 | $2,500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily Compounding | FDIC InsuredMod. MinimumGreat iOS AppDaily CompoundingStable Rate |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Executive Summary
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 3.85%, making it the higher-yield option compared to Chime's High-Yield Savings Account at 3.75%. Ivy Bank does not require direct deposit, but it does have a minimum deposit and balance requirement of $250,000. In contrast, Chime's account requires direct deposit but has no minimum deposit or balance, appealing to those seeking accessibility. Both accounts are online-only and have no maintenance fees, with daily compounding. Overall, Ivy Bank is better for simplicity, while Chime provides a more flexible option.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chime?
- Higher rated Android app (4.7 vs 0.0)
Why Ivy Bank?
- No checking account or direct deposit required
Key Feature Differences
Better for Simplicity
Ivy BankIvy Bank's High-Yield Savings Account offers 3.85% APY with no bundling, direct deposit requirement or caps.
Better Mobile App Experience
ChimeChime offers an iOS app rated 4.8 (vs. 4.6) and Android app rated 4.7 (vs. 0.0)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $10 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chime vs. Ivy Bank Savings Calculator
You earn $10 more with Ivy 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+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $370 a year in interest.
Both Chime and Ivy Bank advertise far more than that typical branch-bank rate.
| Feature | Chime | Ivy Bank |
|---|---|---|
| APY | 3.75% Observed: 9/11/2026 Stable over 90 days | 3.85% Observed: 9/11/2026 Stable over 90 days |
| Product Name | Chime High-Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $2,500 |
| Min. Balance for APY | $0.01 | $2,500 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | Not reported |
| Direct Deposit Req. | Required | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A- |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at Ivy Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
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Compare Ivy Bank vs...
Comparing against Standard Savings
More Comparisons
Compare Chime's APY of 3.75% with other banks
Compare Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.00% | $0 |
| Ivy Bank vs American Express | 3.00% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Barclays | 3.65% | $0 |
| Ivy Bank vs Capital One | 3.50% | $0 |
| Ivy Bank vs CIT Bank | 3.75% | $100 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $100 |
| Ivy Bank vs Openbank | 3.80% | $500 |
| Ivy Bank vs Pibank | 4.10% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Synchrony Bank | 3.30% | $0 |
| Ivy Bank vs Varo Bank | 3.75% | $0 |
| Ivy Bank vs Wealthfront | 3.95% | $0 |