Axos Bank vs. Sofi Bank
High-Yield Savings Account Comparison
Last Updated: October 15, 2025
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Summary of Axos Bank vs. SoFi Bank
Key Metrics at a Glance
| Feature | Axos Bank | SoFi Bank |
|---|---|---|
| Top Savings APY | 4.51% Axos ONE | 4.50% SoFi Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for APY | $0 | $0 |
Axos Bank
Strengths
- Axos Bank offers a higher APY of 4.51% compared to SoFi Bank's 4.50%.
- Axos Bank has a better App Store rating of 4.7 versus SoFi Bank's 4.8.
- Axos Bank has no direct deposit requirement to earn the highest APY.
Potential Drawbacks
- Axos Bank's current APY increased from 4.46% in the last 30 days.
- Axos Bank has no physical branches, which may limit accessibility.
- Axos Bank's Google Play rating is lower at 4.6 compared to SoFi Bank's 4.2.
SoFi Bank
Strengths
- SoFi Bank has a higher App Store rating of 4.8 compared to Axos Bank's 4.7.
- SoFi Bank's APY is stable at 4.50%, unchanged in the last 30 days.
- SoFi Bank offers a promotional 0.70% APY boost for 6 months.
Potential Drawbacks
- SoFi Bank's APY is lower than Axos Bank's 4.51%.
- SoFi Bank requires a direct deposit or subscription for the APY boost.
- SoFi Bank has no physical branches, which may limit accessibility.
Summary: Axos Bank offers a slightly higher APY of 4.51% compared to SoFi Bank's 4.50%, with no direct deposit requirement for the highest rate. However, SoFi Bank has a better App Store rating of 4.8 and offers a promotional boost for new customers. Both banks operate online-only with no physical branches, limiting customer access. Overall, Axos is better for APY, while SoFi provides promotional incentives.
→ As of October 15, 2025 Axos Bank offers an APY of 4.51% for its Axos ONE account, with a minimum balance of $0, compared to SoFi Bank's 4.50% APY for its SoFi Savings account, with a minimum balance of $0.
→ Axos Bank yields $1 more than SoFi Bank on a $10,000 balance after one year. Axos Bank pays $451, while SoFi Bank pays $450 - an APY advantage for Axos Bank.
→ In addition, Axos Bank also offers 4.00% APY for the Summit Savings account.
Calculate Savings Growth for Axos Bank vs SoFi Bank
All calculations are based on APY.
Axos Bank
APY: 4.51%
Total savings breakdown:
- Interest earned: $2,766.7 (13.32%)
- Total contributions: $13,000 (62.60%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,766.70
Effective APY: 4.51% (based on your deposit and contributions)
Total balance: $20,766.7
Earnings: $2,766.7
SoFi Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Axos Bank's total earnings would be $6.6 higher than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Axos Bank's vs SoFi Bank's Savings Accounts
| Axos Bank | SoFi Bank | ||||
|---|---|---|---|---|---|
| Product | Summit Savings | Axos ONE | High Yield Savings | vs | SoFi Savings |
| APY | 4.00% (as of 10/15/2025) | 4.51% (as of 10/15/2025) | 0.61% (as of 10/15/2025) | 4.50% (as of 10/15/2025) | |
| Bundled Account | No | Yes | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No | No. Not required, but is the easiest way to earn the highest APY. | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Note | This APY is only available with the Axos ONE savings and checking bundle. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | Limited offer: you can earn a 0.70% APY boost for 6 months, making the total APY 4.50%. This requires either 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. | |||
| Sponsored Link | LEARN MORE at Axos Bank, Member FDIC | ||||
| App Store Rating | 4.7/5 | 4.8/5 | |||
| Google Play Rating | 4.6/5 | 4.2/5 | |||
| BBB Rating | A+ | A+ | |||
Comparative Historical APY Insights (Last 9 Months)
| Axos Bank | SoFi Bank | ||||
|---|---|---|---|---|---|
| Product | High Yield Savings | Summit Savings | Axos ONE | vs | SoFi Savings |
| Latest APY | 0.61 % | 4.00 % | 4.51 % | 4.50 % | |
| Trend | Sideways | Sideways | Falling | Rising | |
| Slope (bps/mo) | 0.0 | 0.0 | -5.1 | 5.2 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.34 | 0.23 | |
| Days Since Last Change | 266 | 107 | 12 | 34 | |
| High (-9 m) | 0.61 % | 4.00 % | 4.86 % | 4.50 % | |
| Low (-9 m) | 0.61 % | 4.00 % | 4.46 % | 3.80 % | |
| Draw-down from High | 0.0 % | 0.0 % | -7.2 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.031 | 0.060 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 266 days.
- Low (-9 m)
- Lowest APY in the last 266 days.
- Draw-down from High
- How far today sits below the 9-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.
More Comparisons
Compare Axos Bank's APY of 4.51% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Axos Bank vs Ally Bank | 3.40% | $0 |
| Axos Bank vs American Express | 3.50% | $0 |
| Axos Bank vs Bank of America | 0.01% | $100 |
| Axos Bank vs Barclays | 4.10% | $0 |
| Axos Bank vs BrioDirect | 4.20% | $5,000 |
| Axos Bank vs Capital One | 3.40% | $0 |
| Axos Bank vs Chase Bank | 0.01% | $0 |
| Axos Bank vs Chime | 3.75% | $0 |
| Axos Bank vs CIT Bank | 3.85% | $100 |
| Axos Bank vs Discover Bank | 3.40% | $0 |
| Axos Bank vs Elevault | 4.34% | $0 |
| Axos Bank vs EverBank | 4.05% | $0 |
| Axos Bank vs Fitness Bank | 4.75% | $100 |
| Axos Bank vs FVCbank | 4.10% | $500 |
| Axos Bank vs GO2bank | 4.50% | $0 |
| Axos Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Axos Bank vs Neighbors Bank | 4.50% | $0 |
| Axos Bank vs Newtek Bank | 4.35% | $0 |
| Axos Bank vs Peak Bank | 4.20% | $100 |
| Axos Bank vs Pibank | 4.60% | $0 |
| Axos Bank vs Presidential Bank | 4.50% | $5,000 |
| Axos Bank vs Santander Bank | 0.01% | $25 |
| Axos Bank vs Synchrony Bank | 3.80% | $0 |
| Axos Bank vs TIMBR | 4.40% | $1,000 |
| Axos Bank vs Varo Bank | 5.00% | $0 |
| Axos Bank vs Wells Fargo | 0.05% | $25 |
| Axos Bank vs Zynlo Bank | 4.20% | $10 |
Compare SoFi Bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| SoFi Bank vs Ally Bank | 3.40% | $0 |
| SoFi Bank vs American Express | 3.50% | $0 |
| SoFi Bank vs Bank of America | 0.01% | $100 |
| SoFi Bank vs Barclays | 4.10% | $0 |
| SoFi Bank vs BrioDirect | 4.20% | $5,000 |
| SoFi Bank vs Capital One | 3.40% | $0 |
| SoFi Bank vs Chase Bank | 0.01% | $0 |
| SoFi Bank vs Chime | 3.75% | $0 |
| SoFi Bank vs CIT Bank | 3.85% | $100 |
| SoFi Bank vs Discover Bank | 3.40% | $0 |
| SoFi Bank vs Elevault | 4.34% | $0 |
| SoFi Bank vs EverBank | 4.05% | $0 |
| SoFi Bank vs Fitness Bank | 4.75% | $100 |
| SoFi Bank vs FVCbank | 4.10% | $500 |
| SoFi Bank vs GO2bank | 4.50% | $0 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Neighbors Bank | 4.50% | $0 |
| SoFi Bank vs Newtek Bank | 4.35% | $0 |
| SoFi Bank vs Peak Bank | 4.20% | $100 |
| SoFi Bank vs Pibank | 4.60% | $0 |
| SoFi Bank vs Presidential Bank | 4.50% | $5,000 |
| SoFi Bank vs Santander Bank | 0.01% | $25 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs TIMBR | 4.40% | $1,000 |
| SoFi Bank vs UFB Direct | 3.96% | $5000 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 0.05% | $25 |
| SoFi Bank vs Zynlo Bank | 4.20% | $10 |