Affirm vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | AffirmAffirm Money Account Jan 21, 2026 | SoFi BankSoFi Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.20% | 3.30% - 4.00% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | Limited offer: The 4.00% 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 a checking account with a 0.50% APY. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
As of Affirm offers an APY of 3.20% for its Affirm Money Account, with a minimum balance of $0, compared to SoFi Bank's 4.00% APY for its SoFi Savings account, with a minimum balance of $0.
SoFi Bank pays $45 more than Affirm on a $10,000 balance after one year. Affirm pays $320, while SoFi Bank pays $365 (with an effective APY of 3.65%) - an APY advantage for SoFi Bank.
Why Affirm?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.8 vs 3.9)
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
- ✓Higher potential APY (4.00% vs 3.20%) on all balances
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $365 vs $320/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $800/yr).
Best for Simplicity
AffirmAffirm's Affirm Money Account offers 3.20% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Best Mobile App Experience
AffirmAffirm offers an iOS app rated 4.9 (vs. 4.8) and Android app rated 4.8 (vs. 3.9)
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $45 more interest on a $10,000 balance than Affirm's Affirm Money Account.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Executive Summary as of
SoFi Bank offers a competitive savings account with a 4.00% APY, which includes a temporary 0.70% boost for six months, making it an attractive option for those who can meet the direct deposit or subscription fee requirements. In contrast, Affirm's Affirm Money Account provides a 3.20% APY with no direct deposit requirement and no maintenance fees, appealing for its simplicity. Both accounts are online-only and FDIC-insured, but SoFi's higher APY makes it the winner for those looking for better returns, especially when bundled with a checking account that offers a 0.50% APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Affirm vs. SoFi Bank Savings Calculator
You earn $44.9 more with SoFi Bank than Affirm 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.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$364.90(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,364.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Affirm | SoFi Bank |
|---|---|---|
| APY | 3.20% Verified: 1/21/2026 ↘︎ 0.40%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 1/21/2026 ↘︎ 0.50%90d Change |
| Product Name | Affirm Money Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | While direct deposit is not required, the alternative is a subscription fee of $10/month |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.9 Android4.8 | iOS4.8 Android3.9 |
| Zelle® Support | Not Supported | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | A+ |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | Limited offer: The 4.00% 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 a checking account with a 0.50% APY. |
| Next Steps | Visit SiteVerify at Affirm 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 | Affirm | SoFi Bank |
|---|---|---|
| Affirm Money Account | SoFi Savings | |
Current APY | 3.20% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.2 | 5.1 |
Days Since Change | 16 | 30 |
12-Month High | 3.85% | 4.50% |
12-Month Low | 3.20% | 3.80% |
Adjustments / Mo | 0.33 | 0.33 |
Volatility Score | 0.047 | 0.070 |
How to read these metrics(Click to expand)
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