Barclays vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Barclays
Tiered Savings
Up to4.00%APYDec 17, 2025FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppRange: 3.85% – 4.00%Show Fine Print & Trends Hide Details
Barclays
Tiered Savings
SoFi Bank
SoFi Savings
Up to4.30%APYDec 17, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppRange: 3.60% – 4.30%Show Fine Print & Trends Hide Details
SoFi Bank
SoFi Savings
Comparison Analysis
Comparing Barclays vs. SoFi Bank
As of Barclays offers an APY of 4.00% for its Tiered Savings account, with a minimum balance of $250,000, compared to SoFi Bank's 4.30% APY for its SoFi Savings account, with a minimum balance of $0.
SoFi Bank pays $10 more than Barclays on a $10,000 balance after one year. Barclays pays $385 (with an effective APY of 3.85%), while SoFi Bank pays $395 (with an effective APY of 3.95%) - an APY advantage for SoFi Bank.
In addition, Barclays also offers 3.60% APY for the Online Savings account, with a minimum balance of Enough to earn $0.01 in interest.
Why Barclays?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.7 vs 3.9)
- ✓Offers 2 different high-yield savings options
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
- ✓Higher potential APY (4.30% vs 3.60%-4.00%) on all balances
— Key Feature Differences —
Best for Simplicity
BarclaysBarclays's Online Savings offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $10 more interest on a $10,000 balance than Barclays's Tiered Savings.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Executive Summary
SoFi Bank offers a competitive SoFi Savings account with a 4.30% APY, which includes a temporary 0.70% boost for the first six months. This account is bundled with a checking account that has a 0.50% APY, and while direct deposit is not required, a $10 monthly subscription fee applies if you choose not to use it. In comparison, Barclays provides a Tiered Savings account with a 4.00% APY for balances over $250,000, and a lower APY of 3.85% for smaller balances. Barclays's Online Savings offers a simpler option at 3.60% APY without any requirements. Overall, SoFi Bank's higher APY makes it the more attractive choice.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Barclays vs. SoFi Bank Savings Calculator
You earn $9.9 more with SoFi Bank than Barclays on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
SoFi Bank
SoFi Savings
Promo Rate: 4.30% for 6 months, then 3.60%.
Savings Breakdown
- Interest Earned+$394.90(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,394.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Top Market Contenders
See who beats both Barclays and SoFi Bank.
| Feature | Barclays | SoFi Bank |
|---|---|---|
| APY | 4.00% Range: 3.85% - 4.00% Verified: 12/17/2025 ↘︎ 0.10%90d Change | 4.30% Range: 3.60% - 4.30% Verified: 12/17/2025 ↘︎ 0.20%90d Change |
| Product Name | Tiered Savings | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $250,000 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | While direct deposit is not required, the alternative is a subscription fee of $10/month |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.9 Android4.7 | iOS4.8 Android3.9 |
| BBB Rating | A+ | A+ |
| Important Notes | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | Limited offer: The 4.30% includes a temporary 0.70% APY boost for 6 months. It is available with 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 with a 0.50% APY. |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | SoFi Bank | |
|---|---|---|---|
| Online Savings | Tiered Savings | SoFi Savings | |
Current APY | 3.60% | 4.00% | 4.30% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.7 | -4.3 | 7.0 |
Days Since Change | 21 | 28 | 35 |
11-Month High | 4.00% | 4.50% | 4.50% |
11-Month Low | 3.60% | 4.00% | 3.80% |
Adjustments / Mo | 0.55 | 0.64 | 0.27 |
Volatility Score | 0.026 | 0.037 | 0.074 |
How to read these metrics(Click to expand)
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