Barclays vs. Sofi Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 2, 2025
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Summary of Barclays vs. SoFi Bank
Key Metrics at a Glance
| Feature | Barclays | SoFi Bank |
|---|---|---|
| Top Savings APY | 4.10% Tiered Savings | 4.50% SoFi Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $250,000 | $0 |
| Note | The 4.10% APY is only available for balances over $250,000. For lower balances, the APY is 3.90%. | 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. |
Barclays
Strengths
- Barclays offers a Tiered Savings account with a 4.10% APY for balances over $250,000.
- Barclays has an A+ BBB rating and is BBB Accredited.
- Barclays has a higher App Store rating of 4.8 compared to SoFi's 4.8.
Potential Drawbacks
- Barclays' higher APY requires a minimum balance of $250,000.
- Barclays' Google Play rating is lower at 4.7 compared to SoFi's 4.1.
- Barclays does not offer a direct deposit option for higher APY.
SoFi Bank
Strengths
- SoFi Bank offers a competitive 4.50% APY with a limited-time boost.
- SoFi has no minimum balance requirement for its savings account.
- SoFi's savings account is bundled with a checking account.
Potential Drawbacks
- SoFi requires either direct deposit or a subscription for the higher APY.
- SoFi's Google Play rating is lower at 4.1 compared to Barclays' 4.7.
- SoFi does not have a BBB Accreditation noted.
→ As of November 2, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, with a minimum balance of $250,000, compared to SoFi Bank's 4.50% APY for its SoFi Savings account, with a minimum balance of $0.
→ SoFi Bank yields $60 more than Barclays on a $10,000 balance after one year. Barclays pays $390 (with an effective APY of 3.9%), while SoFi Bank pays $450 - an APY advantage for SoFi Bank.
→ In addition, Barclays also offers 3.70% APY for the Online Savings account.
Calculate Savings Growth for Barclays vs SoFi Bank
Barclays - Tiered Savings
⚠️The higher APY only applies once your balance reaches $250,000.
Total savings breakdown:
- Interest earned: $2,370.2 (11.64%)
- Total contributions: $13,000 (63.82%)
- Initial deposit: $5,000 (24.55%)
Your total balance
$20,370.20
Total balance: $20,370.2
Earnings: $2,370.2
Bank OverviewSoFi Bank - SoFi Savings
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
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, Barclays's total earnings would be $389.9 lower than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Barclays' vs SoFi Bank's Savings Accounts
| Barclays | SoFi Bank | |||
|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | SoFi Savings |
| APY | 3.90% - 4.10% (as of 11/2/2025) | 3.70% (as of 11/2/2025) | 4.50% (as of 11/2/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | |
| Minimum Balance for APY | $250,000 | Enough to earn $0.01 in interest | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Note | The 4.10% APY is only available for balances over $250,000. For lower balances, the APY is 3.90%. | 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.7/5 | 4.1/5 | ||
| BBB Rating | A+ | A+ | ||
Comparative Historical APY Insights (Last 9 Months)
| Barclays | SoFi Bank | |||
|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | SoFi Savings |
| Latest APY | 3.70 % | 4.10 % | 4.50 % | |
| Trend | Sideways | Sideways | Rising | |
| Slope (bps/mo) | -2.9 | -4.9 | 6.8 | |
| Rate Changes / Mo | 0.53 | 0.63 | 0.21 | |
| Days Since Last Change | 145 | 137 | 52 | |
| High (-9 m) | 4.00 % | 4.50 % | 4.50 % | |
| Low (-9 m) | 3.70 % | 4.10 % | 3.80 % | |
| Draw-down from High | -7.5 % | -8.9 % | 0.0 % | |
| Volatility (CV) | 0.024 | 0.035 | 0.071 | |
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 284 days.
- Low (-9 m)
- Lowest APY in the last 284 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.