Bask Bank vs. SoFi Bank
Comparing Bask Bank and SoFi Bank for savings: Bask Bank's Interest Savings Account pays 0.25% APY while SoFi Bank's SoFi Savings pays 4.00% APY (including a 6-month 0.70% promo boost).
Note: SoFi Bank requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? SoFi Bank pays $340 more than Bask Bank annually ($365 vs $25).
Choose Bask Bank if you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, or you're an Android user. Choose SoFi Bank if getting the best rate matters most, or BBB rating matters to you.
Important Considerations
The key difference? SoFi Bank's 4.00% rate includes a promotional bonus for the first 6 months, after which it reverts to the standard rate (currently 3.30%). Bask Bank's 0.25% rate has no scheduled drop, though all rates are subject to change.
SoFi Bank requires a checking account to unlock its top savings rate, while Bask Bank offers its savings account standalone.
| Metric | Bask BankInterest Savings Account Mar 7, 2026 | SoFi BankSoFi Savings Mar 7, 2026 |
|---|---|---|
| APY | 0.25% | 3.30% - 4.00% |
Est. Earnings | $5,000+$13 $10,000+$25 $25,000+$63 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Limited offer: The 4.00% 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. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Executive Summary
SoFi Bank offers a competitive APY of 4.00% on its SoFi Savings account, which includes a temporary 0.70% boost for six months, available with a direct deposit of regular income or a $10/month subscription fee. In contrast, Bask Bank's Interest Savings Account provides a lower APY of 0.25%, but does not require direct deposit and has no maintenance fees. Both accounts are online-only and have no minimum deposit or balance requirements. However, SoFi's account is bundled with a checking account that offers a 0.50% APY, making it a more attractive option for those seeking higher returns and all-in-one banking.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bask Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 3.9)
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 (4.00% vs 0.25%) on all balances
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $365 vs $25/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $63/yr).
Best for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $340 more interest on a $10,000 balance than Bask Bank's Interest Savings Account.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bask Bank vs. SoFi Bank Savings Calculator
You earn $339.9 more with SoFi Bank than Bask Bank 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.
Bask Bank
Interest Savings Account
Savings Breakdown
- Interest Earned+$25.00(0.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,025.00
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$364.90(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,364.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bask Bank | SoFi Bank |
|---|---|---|
| APY | 0.25% Verified: 3/7/2026 ↘︎ 3.65%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 3/7/2026 ↘︎ 0.30%90d Change |
| Product Name | Interest Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| 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 | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Interest Checking; not for standalone savings. | Available Native support added in 2024 for banking members. |
| BBB Rating | B | A+ |
| Important Notes | - | Limited offer: The 4.00% 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 | Visit SiteVerify at Bask Bank Non-sponsored link to official site | Visit SiteVerify at SoFi Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bask Bank | SoFi Bank |
|---|---|---|
| Interest Savings Account | SoFi Savings | |
Current APY | 0.25% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -21.0 | 3.7 |
Days Since Change | 32 | 74 |
12-Month High | 4.35% | 4.50% |
12-Month Low | 0.25% | 3.80% |
Adjustments / Mo | 0.49 | 0.25 |
Volatility Score | 0.334 | 0.066 |
How to read these metrics(Click to expand)
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Compare Bask Bank's APY of 0.25% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bask Bank vs Ally Bank | 3.20% | $0 |
| Bask Bank vs American Express | 3.30% | $0 |
| Bask Bank vs Axos Bank | 4.21% | $0 |
| Bask Bank vs Bank of America | 0.01% | $100 |
| Bask Bank vs Barclays | 3.85% | $0 |
| Bask Bank vs Capital One | 3.30% | $0 |
| Bask Bank vs Chase Bank | 0.01% | $0 |
| Bask Bank vs Chime | 3.00% | $0 |
| Bask Bank vs CIT Bank | 3.75% | $100 |
| Bask Bank vs Citibank | 3.20% | $0 |
| Bask Bank vs Discover Bank | 3.30% | $0 |
| Bask Bank vs EverBank | 3.90% | $0 |
| Bask Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bask Bank vs Newtek Bank | 4.20% | $0.01 |
| Bask Bank vs Openbank | 4.09% | $500 |
| Bask Bank vs Pibank | 4.60% | $0 |
| Bask Bank vs Synchrony Bank | 3.50% | $0 |
| Bask Bank vs Varo Bank | 5.00% | $0 |
| Bask Bank vs Wealthfront | 4.20% | $0 |
| Bask Bank vs Wells Fargo | 0.05% | $25 |