Barclays vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: September 18, 2025
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Summary of Barclays vs. SoFi Bank
As of September 18, 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.
Barclays
Strengths
- Barclays offers a Tiered Savings account with an 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 no maintenance fees for any savings account.
Potential Drawbacks
- Barclays requires a minimum balance of $250,000 to earn the highest APY.
- Barclays' Google Play rating is lower at 4.7 compared to SoFi's 4.3.
- Barclays does not offer a direct deposit option for higher APY.
SoFi Bank
Strengths
- SoFi Bank has a higher current APY of 4.50% compared to Barclays' 4.10%.
- SoFi's APY increased from 3.80% to 4.50% in the last 30 days.
- SoFi has no minimum balance requirement for its savings account.
Potential Drawbacks
- SoFi's higher APY requires either direct deposit or a subscription fee.
- SoFi's Google Play rating is lower at 4.3 compared to Barclays' 4.7.
- SoFi does not have a BBB accreditation note, unlike Barclays.
Summary: Barclays offers a Tiered Savings account with a competitive 4.10% APY but requires a $250,000 balance. SoFi Bank provides a higher 4.50% APY with no minimum balance, though it requires direct deposit or a subscription for that rate. Both banks have strong App Store ratings, but Barclays has a slight edge in Google Play ratings and BBB accreditation.
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 9/18/2025) | 3.70% (as of 9/18/2025) | 4.50% (as of 9/18/2025) | |
| 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 | 4.3/5 | ||
| BBB Rating | A+ | A+ | ||
Comparative Historical APY Insights (Last 8 Months)
| Barclays | SoFi Bank | |||
|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | SoFi Savings |
| Latest APY | 3.70 % | 4.10 % | 4.50 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -3.6 | -6.1 | 1.7 | |
| Rate Changes / Mo | 0.63 | 0.75 | 0.25 | |
| Days Since Last Change | 100 | 92 | 7 | |
| High (-8 m) | 4.00 % | 4.50 % | 4.50 % | |
| Low (-8 m) | 3.70 % | 4.10 % | 3.80 % | |
| Draw-down from High | -7.5 % | -8.9 % | 0.0 % | |
| Volatility (CV) | 0.024 | 0.035 | 0.034 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 8 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 (-8 m)
- Highest APY in the last 239 days.
- Low (-8 m)
- Lowest APY in the last 239 days.
- Draw-down from High
- How far today sits below the 8-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: 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, 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.
More Comparisons
Compare Barclays' APY of 4.10% with other banks
| Bank Pair | Competitor 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 BrioDirect | 4.30% | $5,000 |
| 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 Elevault | 4.60% | $0 |
| Barclays vs EverBank | 4.30% | $0 |
| Barclays vs Fitness Bank | 4.75% | $100 |
| Barclays vs FVCbank | 4.35% | $500 |
| Barclays vs GO2bank | 4.50% | $0 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs Neighbors Bank | 4.60% | $0 |
| Barclays vs Newtek Bank | 4.35% | $0 |
| Barclays vs Peak Bank | 4.35% | $100 |
| Barclays vs Pibank | 4.60% | $0 |
| Barclays vs Presidential Bank | 4.50% | $5,000 |
| Barclays vs Santander Bank | 0.03% | $25 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs TIMBR | 4.40% | $1,000 |
| Barclays vs UFB Direct | 4.10% | $5000 |
| Barclays vs Varo Bank | 5.00% | $0 |
| Barclays vs Wells Fargo | 2.51% | $25 |
| Barclays vs Zynlo Bank | 4.35% | $10 |
Compare SoFi Bank's APY of 4.50% with other banks
| Bank Pair | Competitor 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 BrioDirect | 4.30% | $5,000 |
| 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 Elevault | 4.60% | $0 |
| SoFi Bank vs EverBank | 4.30% | $0 |
| SoFi Bank vs Fitness Bank | 4.75% | $100 |
| SoFi Bank vs FVCbank | 4.35% | $500 |
| SoFi Bank vs GO2bank | 4.50% | $0 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Neighbors Bank | 4.60% | $0 |
| SoFi Bank vs Newtek Bank | 4.35% | $0 |
| SoFi Bank vs Peak Bank | 4.35% | $100 |
| SoFi Bank vs Pibank | 4.60% | $0 |
| SoFi Bank vs Presidential Bank | 4.50% | $5,000 |
| SoFi Bank vs Santander Bank | 0.03% | $25 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs TIMBR | 4.40% | $1,000 |
| SoFi Bank vs UFB Direct | 4.10% | $5000 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 2.51% | $25 |
| SoFi Bank vs Zynlo Bank | 4.35% | $10 |