Chime vs. SoFi Bank
Chime's Chime High-Yield Savings Account pays 3.75% APY while SoFi Bank's SoFi Savings pays 4.00% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Chime pays $20 more than SoFi Bank annually ($375 vs $355).
Choose Chime if getting the best rate matters most, or you're an Android user. Choose SoFi Bank if you want Zelle for quick transfers.
Important Considerations
Both Chime High-Yield Savings Account and SoFi Savings pay their top rate only if you also open a checking account at the same institution.
| Metric | ChimeChime High-Yield Savings Account Sep 7, 2026 | SoFi BankSoFi Savings Sep 5, 2026 |
|---|---|---|
| APY | 3.75% | 3.10% - 4.00% |
Earns in a year | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$178 $10,000+$355 $25,000+$888 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | 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 AppDirect Deposit ReqChecking BundleDaily Compounding | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Looking for Simplicity?
Don't want a checking bundle? We track many savings and money market accounts that pay competitive rates without checking requirements.
Executive Summary
SoFi Bank offers a competitive APY of 4.00% on its SoFi Savings account, which includes a temporary 0.70% APY boost for six months, contingent upon eligible direct deposits or qualifying deposits of $5,000 or more within 31 days. This account also requires a checking account and is available online only, with no physical branches. In contrast, Chime's High-Yield Savings Account provides a steady APY of 3.75% with no minimum balance requirement and also mandates direct deposit. While Chime's account has a slightly lower rate, it remains a viable option for those looking for a straightforward savings solution. Both accounts come with no maintenance fees.
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 3.8)
Why SoFi Bank?
- Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- Higher potential APY (4.00% vs 3.75%) for a duration of 6 months (requires checking bundle & direct deposit)
- Fast transfers via Zelle®
Key Feature Differences
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $355/yr).
Better Returns at $25,000
ChimeChime's Chime High-Yield Savings Account pulls ahead with larger amounts (approx. $938 vs $888/yr).
Requires Banking Relationship
Chime High-Yield Savings Account and SoFi Savings both require a checking account bundle and qualifying requirements to pay their highest rates.
Shared Benefits
Over a 1-year period, Chime's Chime High-Yield Savings Account pays $20 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Chime's standard rate still yields a higher 1-year return.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chime vs. SoFi Bank Savings Calculator
You earn $20.1 more with Chime than SoFi 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.
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
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.
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 $350 a year in interest.
Both Chime and SoFi Bank advertise far more than that typical branch-bank rate.
| Feature | Chime | SoFi Bank |
|---|---|---|
| APY | 3.75% Observed: 9/7/2026 Stable over 90 days | 4.00% Range: 3.10% - 4.00% Observed: 9/5/2026 0.20%90-day change |
| Product Name | Chime High-Yield Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | 4 (CA, UT) |
| Direct Deposit Req. | Required | Required |
| Checking Bundle | Yes | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | A+ |
| Important Notes | - | 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 Chime 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 | SoFi Bank |
|---|---|
| SoFi Savings | |
Current APY | 4.00% |
Trend | Stable |
Speed of change | 0.06 |
Days Since Change | 3 |
7-Month High | 4.00% |
7-Month Low | 3.80% |
Changes per month | 0.15 |
Steadiness | 0.026 |
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 202-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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