Affirm vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Affirm
Affirm Money Account
3.60%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Affirm
Affirm Money Account
SoFi Bank
SoFi Savings
Up to4.30%APYDec 10, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppRange: 3.60% – 4.30%Show Fine Print & Trends Hide Details
SoFi Bank
SoFi Savings
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Affirm vs. SoFi Bank Savings Calculator
SoFi Bank earns $22.5 more than Affirm.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$2,177.80(10.8%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,177.80
SoFi Bank
SoFi Savings
Promo Rate: 4.30% for 6 months, then 3.60%.
Savings Breakdown
- Interest Earned+$2,200.30(10.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,200.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Affirm vs. SoFi Bank
Why Affirm?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.8 vs 4.0)
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 (4.30% vs 3.60%) on all balances
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $395 vs $360/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $988 vs $900/yr).
Best for Simplicity
AffirmAffirm's Affirm Money Account offers 3.60% 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. 4.0)
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $35 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
SoFi Bank offers a competitive 4.30% APY on its SoFi Savings account, which is available with a direct deposit or a $10/month subscription fee. This account also comes bundled with a checking account that yields 0.50% APY. In contrast, Affirm's Affirm Money Account provides a lower 3.60% APY with no direct deposit requirement and no maintenance fees. Both accounts are online-only and FDIC-insured, but SoFi's higher yield makes it the preferred choice for savers looking for better returns.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Affirm and SoFi Bank.
| Feature | Affirm | SoFi Bank |
|---|---|---|
| APY | 3.60% Verified: 12/10/2025 ↘︎ 0.25%90d Change | 4.30% Range: 3.60% - 4.30% Verified: 12/10/2025 ↘︎ 0.20%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 Android4.0 |
| BBB Rating | A+ | A+ |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | Limited offer: The 4.30% 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 |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Affirm | SoFi Bank |
|---|---|---|
| Affirm Money Account | SoFi Savings | |
Current APY | 3.60% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.7 | 7.1 |
Days Since Change | 75 | 28 |
11-Month High | 3.85% | 4.50% |
11-Month Low | 3.60% | 3.80% |
Adjustments / Mo | 0.09 | 0.28 |
Volatility Score | 0.030 | 0.075 |
How to read these metrics(Click to expand)
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