Axos Bank vs Sofi Bank
High-Yield Savings Accounts Comparison

Last Updated: June 20, 2025

Summary of Axos Bank vs. SoFi Bank

As of June 20, 2025 Axos Bank offers an APY of 4.66% for its Axos ONE account, compared to SoFi Bank's 3.80% APY for its SoFi Savings account.

Axos Bank yields $86 more than SoFi Bank on a $10,000 balance after one year. Axos Bank pays $466, while SoFi Bank pays $380 - an APY advantage for Axos Bank.

In addition, Axos Bank also offers 0.61% APY for the High Yield Savings account.

Axos Bank

Strengths

  • Axos Bank offers a higher APY of 4.66% compared to SoFi Bank's 3.80%.
  • Axos Bank has an A+ BBB rating and is BBB Accredited.
  • Axos Bank has a higher App Store rating of 4.7 compared to SoFi Bank's 4.8.

Potential Drawbacks

  • Axos Bank requires a minimum average balance of $1,500 in ONE Checking for the highest APY.
  • Axos Bank has no physical branches, which may limit customer service options.
  • Axos Bank's High Yield Savings APY is significantly lower at 0.61%.

SoFi Bank

Strengths

  • SoFi Bank's savings account does not require a minimum balance to earn interest.
  • SoFi Bank has a higher Google Play rating of 4.5 compared to Axos Bank's 4.4.
  • SoFi Bank's savings account comes bundled with a checking account.

Potential Drawbacks

  • SoFi Bank's APY of 3.80% requires direct deposit or a $5,000 Qualifying Deposit.
  • SoFi Bank has no physical branches, limiting in-person service.
  • SoFi Bank's BBB rating is A+, but it is not BBB Accredited.
Summary: Axos Bank offers a higher APY of 4.66% with its ONE account but requires a $1,500 balance. SoFi Bank's 3.80% APY requires direct deposit or a $5,000 deposit. Both banks lack physical branches, but Axos is BBB Accredited while SoFi is not. Axos has a slightly lower App Store rating than SoFi, but both ratings are high.

Compare Axos Bank's vs SoFi Bank's Savings Accounts

Axos BankSoFi Bank
ProductAxos ONEHigh Yield SavingsvsSoFi Savings
APY
4.66% (as of 6/20/2025)0.61% (as of 6/20/2025)3.80% (as of 6/20/2025)
Bundled Account
YesNoYes
FDIC-insured
YesYesYes
Online OnlyYesYesYes
Compound Frequency
DailyDailyDaily
Minimum Deposit$0$0$0
Minimum Balance for APY$0$0$0
Maintenance Fee$0$0$0
Direct Deposit Required
Yes. Min. $1,500/month to ONE Checking.NoNo. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower
NoteThis APY is only available in the Axos ONE savings and checking bundle. Must maintain $1,500 on avg. daily balance in ONE Checking for APY.N/AThe 3.80% APY requires either a direct deposit of regular income (of any amount) or a Qualifying Deposit of $5,000 for any 30-day period. The savings account comes bundled with a checking account.
Visit BankAxos ONEHigh Yield SavingsSoFi Savings
App Store Rating4.7/54.8/5
Google Play Rating4.4/54.5/5
BBB RatingA+A+

Comparative Historical APY Insights (Last 5 Months)

Axos BankSoFi Bank
ProductHigh Yield SavingsAxos ONEvsSoFi Savings
Latest APY0.61 %4.66 %3.80 %
TrendSidewaysFallingSideways
Slope (bps/mo)0.0-5.9-0.2
Rate Changes / Mo0.000.200.20
Days Since Last Change14981148
High (-5 m)0.61 %4.86 %4.00 %
Low (-5 m)0.61 %4.66 %3.80 %
Draw-down from High0.0 %-4.1 %-5.0 %
Volatility (CV)0.0000.0210.005
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-5 m)
Highest APY in the last 150 days.
Low (-5 m)
Lowest APY in the last 150 days.
Draw-down from High
How far today sits below the 5-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Calculate Savings Growth for Axos Bank vs SoFi Bank

All calculations are based on APY.

Axos Bank

APY: 4.66%

Total savings breakdown:

  • Interest earned: $46.6 (4.45%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (95.55%)

Your total balance

$1,046.60

Effective APY: 4.66% (based on your deposit and contributions)

Total balance: $1,046.6

Earnings: $46.6

Bank Details

SoFi Bank

APY: 3.80%

Total savings breakdown:

  • Interest earned: $38 (3.66%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.34%)

Your total balance

$1,038.00

Effective APY: 3.80% (based on your deposit and contributions)

Total balance: $1,038

Earnings: $38

Bank Details

After 1 year Axos Bank would earn you $8.6 more than SoFi Bank.

More Comparisons

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