Barclays vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: August 1, 2025
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Summary of Barclays vs. SoFi Bank
As of August 1, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, compared to SoFi Bank's 3.80% APY for its SoFi Savings account.
Barclays yields $10 more than SoFi Bank on a $10,000 balance after one year. Barclays pays $390 (with an effective APY of 3.9%), while SoFi Bank pays $380 - an APY advantage for Barclays.
In addition, Barclays also offers 3.70% APY for the Online Savings account.
Barclays
Strengths
- Barclays offers a higher APY of 4.10% for balances over $250,000.
- Barclays has a higher App Store rating of 4.8 compared to SoFi's 4.8.
- Barclays has a BBB accreditation with an A+ rating.
Potential Drawbacks
- Barclays requires a $250,000 minimum balance to earn the highest APY.
- Barclays does not have any physical branches.
SoFi Bank
Strengths
- SoFi offers a lower minimum balance of $0 to open an account.
- SoFi's APY of 3.80% is accessible without high balance requirements.
- SoFi provides a bundled checking account with its savings account.
Potential Drawbacks
- SoFi's APY requires direct deposit or qualifying deposits to maintain higher rates.
- SoFi has a lower Google Play rating of 4.4 compared to Barclays' 4.7.
Summary: Barclays offers a higher APY of 4.10% for larger balances, while SoFi provides lower entry requirements with no minimum balance. Both banks have an A+ BBB rating, but Barclays has a slight edge in App Store ratings. However, SoFi's APY requires direct deposits or qualifying deposits, which may limit access to higher rates. Overall, Barclays may suit those with larger savings, whereas SoFi is more accessible for new savers.
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 8/1/2025) | 3.70% (as of 8/1/2025) | 3.80% (as of 8/1/2025) | |
| 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%. | 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.7/5 | 4.4/5 | ||
| BBB Rating | A+ | A+ | ||
Comparative Historical APY Insights (Last 6 Months)
| Barclays | SoFi Bank | |||
|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | SoFi Savings |
| Latest APY | 3.70 % | 4.10 % | 3.80 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -4.3 | -7.3 | -0.1 | |
| Rate Changes / Mo | 0.78 | 0.93 | 0.16 | |
| Days Since Last Change | 54 | 46 | 191 | |
| High (-6 m) | 4.00 % | 4.50 % | 4.00 % | |
| Low (-6 m) | 3.70 % | 4.10 % | 3.80 % | |
| Draw-down from High | -7.5 % | -8.9 % | -5.0 % | |
| Volatility (CV) | 0.022 | 0.033 | 0.005 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 193 days.
- Low (-6 m)
- Lowest APY in the last 193 days.
- Draw-down from High
- How far today sits below the 6-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 Barclays vs SoFi Bank
All calculations are based on APY.
Barclays
APY: 4.10%
⚠️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
Effective APY: 3.90% (based on your deposit and contributions)
Total balance: $20,370.2
Earnings: $2,370.2
Bank OverviewSoFi 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, Barclays's total earnings would be $64.3 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 Barclays' APY of 4.10% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.50% | $0 |
| Barclays vs American Express | 3.50% | $0 |
| Barclays vs Axos Bank | 4.46% | $0 |
| Barclays vs Bank of America | 0.01% | $100 |
| Barclays vs Capital One | 3.50% | $0 |
| Barclays vs Chase Bank | 0.01% | $0 |
| Barclays vs Chime | 3.75% | $0 |
| Barclays vs CIT Bank | 4.00% | $100 |
| Barclays vs Discover Bank | 3.50% | $0 |
| Barclays vs Fitness Bank | 4.85% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs Presidential Bank | 4.50% | $5,000 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs UFB Direct | 4.21% | $5000 |
| Barclays vs Varo Bank | 5.00% | $0 |
| Barclays 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 Axos Bank | 4.46% | $0 |
| SoFi Bank vs Bank of America | 0.01% | $100 |
| 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 |