Axos Bank vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Axos Bank vs. SoFi Bank
As of August 29, 2025 Axos Bank offers an APY of 4.46% for its Axos ONE account, compared to SoFi Bank's 3.80% APY for its SoFi Savings account.
Axos Bank yields $66 more than SoFi Bank on a $10,000 balance after one year. Axos Bank pays $446, while SoFi Bank pays $380 - an APY advantage for Axos Bank.
In addition, Axos Bank also offers 4.00% APY for the Summit Savings account.
Axos Bank
Strengths
- Axos Bank offers a higher APY of 4.46% compared to SoFi Bank's 3.80%.
- Axos Bank has a higher App Store rating of 4.7 versus SoFi Bank's 4.8.
- Axos Bank has no maintenance fees for its accounts.
Potential Drawbacks
- Axos Bank's APY decreased from 4.66% to 4.46% in the last 30 days.
- Axos Bank requires higher qualifying deposits for the best APY.
- Axos Bank has no physical branches.
SoFi Bank
Strengths
- SoFi Bank's APY is stable at 3.80%, with no recent changes.
- SoFi Bank has a slightly higher App Store rating of 4.8.
- SoFi Bank also has no maintenance fees for its accounts.
Potential Drawbacks
- SoFi Bank's APY is lower than Axos Bank's 4.46%.
- SoFi Bank's APY requires a direct deposit or qualifying deposits.
- SoFi Bank has no physical branches.
Summary: Axos Bank offers a higher APY of 4.46% compared to SoFi Bank's 3.80%, but Axos's rate has decreased recently. Both banks have no maintenance fees and no branches. SoFi Bank has a slightly higher App Store rating at 4.8. However, SoFi's APY requires a direct deposit or qualifying deposits, making it less accessible for some users compared to Axos's requirements.
Compare Axos Bank's vs SoFi Bank's Savings Accounts
| Axos Bank | SoFi Bank | ||||
|---|---|---|---|---|---|
| Product | Axos ONE | Summit Savings | High Yield Savings | vs | SoFi Savings |
| APY | 4.46% (as of 8/29/2025) | 4.00% (as of 8/29/2025) | 0.61% (as of 8/29/2025) | 3.80% (as of 8/29/2025) | |
| Bundled Account | Yes | No | 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. Not required, but is the easiest way to earn the highest APY. | No | 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. | The 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. | |||
| Sponsored Link | LEARN MORE at Axos Bank, Member FDIC | ||||
| App Store Rating | 4.7/5 | 4.8/5 | |||
| Google Play Rating | 4.5/5 | 4.4/5 | |||
| BBB Rating | A+ | A+ | |||
Comparative Historical APY Insights (Last 7 Months)
| Axos Bank | SoFi Bank | ||||
|---|---|---|---|---|---|
| Product | High Yield Savings | Summit Savings | Axos ONE | vs | SoFi Savings |
| Latest APY | 0.61 % | 4.00 % | 4.46 % | 3.80 % | |
| Trend | Sideways | Sideways | Falling | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | -5.4 | -0.2 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.27 | 0.14 | |
| Days Since Last Change | 220 | 62 | 30 | 219 | |
| High (-7 m) | 0.61 % | 4.00 % | 4.86 % | 4.00 % | |
| Low (-7 m) | 0.61 % | 4.00 % | 4.46 % | 3.80 % | |
| Draw-down from High | 0.0 % | 0.0 % | -8.2 % | -5.0 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.027 | 0.006 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 221 days.
- Low (-7 m)
- Lowest APY in the last 221 days.
- Draw-down from High
- How far today sits below the 7-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: 4.46%
Total savings breakdown:
- Interest earned: $2,733.9 (13.19%)
- Total contributions: $13,000 (62.70%)
- Initial deposit: $5,000 (24.12%)
Your total balance
$20,733.90
Effective APY: 4.46% (based on your deposit and contributions)
Total balance: $20,733.9
Earnings: $2,733.9
SoFi Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Axos Bank's total earnings would be $428 higher than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Axos Bank's APY of 4.46% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Axos Bank vs Ally Bank | 3.50% | $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 Capital One | 3.50% | $0 |
| Axos Bank vs Chase Bank | 0.01% | $0 |
| Axos Bank vs Chime | 3.75% | $0 |
| Axos Bank vs CIT Bank | 4.00% | $100 |
| Axos Bank vs Discover Bank | 3.50% | $0 |
| Axos Bank vs Fitness Bank | 4.85% | $100 |
| Axos Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Axos Bank vs Presidential Bank | 4.50% | $5,000 |
| Axos Bank vs Synchrony Bank | 3.80% | $0 |
| Axos Bank vs Varo Bank | 5.00% | $0 |
| Axos Bank vs Wells Fargo | 2.51% | $25 |
Compare SoFi Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| SoFi Bank vs Ally Bank | 3.50% | $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 Capital One | 3.50% | $0 |
| SoFi Bank vs Chase Bank | 0.01% | $0 |
| SoFi Bank vs Chime | 3.75% | $0 |
| SoFi Bank vs CIT Bank | 4.00% | $100 |
| SoFi Bank vs Discover Bank | 3.50% | $0 |
| SoFi Bank vs Fitness Bank | 4.85% | $100 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Presidential Bank | 4.50% | $5,000 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs UFB Direct | 4.21% | $5000 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 2.51% | $25 |