Bask Bank vs. Sofi Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 16, 2025
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Summary of Bask Bank vs. SoFi Bank
Key Metrics at a Glance
| Feature | Bask Bank | SoFi Bank |
|---|---|---|
| Top Savings APY | 3.90% Interest Savings Account | 4.30% SoFi Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0 |
| Note | Limited offer: you can earn a 0.70% APY boost for 6 months, making the total APY 4.30%. 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. |
Bask Bank
Strengths
- Bask Bank's Interest Savings Account has no direct deposit requirement.
- Bask Bank offers a competitive APY of 3.90%, despite a recent decrease.
- Bask Bank has a solid App Store rating of 4.7.
Potential Drawbacks
- Bask Bank has a lower BBB rating of B compared to SoFi's A+.
- Bask Bank's APY decreased from 4.05% to 3.90% in the last 30 days.
- Bask Bank's Google Play rating is lower at 4.5.
SoFi Bank
Strengths
- SoFi Bank offers a higher APY of 4.30%, though it recently dropped.
- SoFi Bank has an excellent BBB rating of A+.
- SoFi Bank's App Store rating is slightly higher at 4.8.
Potential Drawbacks
- SoFi Bank's APY requires direct deposit or qualifying deposits for the higher rate.
- SoFi Bank's Google Play rating is lower at 4.0.
- SoFi Bank's APY decreased from 4.50% to 4.30% recently.
→ As of November 16, 2025 Bask Bank offers an APY of 3.90% for its Interest Savings Account, with a minimum balance of $0, compared to SoFi Bank's 4.30% APY for its SoFi Savings account, with a minimum balance of $0.
→ SoFi Bank yields $40 more than Bask Bank on a $10,000 balance after one year. Bask Bank pays $390, while SoFi Bank pays $430 - an APY advantage for SoFi Bank.
Calculate Savings Growth for Bask Bank vs SoFi Bank
Bask Bank - Interest Savings Account
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: $2,629.4 (12.75%)
- Total contributions: $13,000 (63.02%)
- Initial deposit: $5,000 (24.24%)
Your total balance
$20,629.40
Total balance: $20,629.4
Earnings: $2,629.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bask Bank's total earnings would be $259.2 lower than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bask Bank's vs SoFi Bank's Savings Accounts
| Bask Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Interest Savings Account | vs | SoFi Savings |
| APY | 3.90% (as of 11/16/2025) | 4.30% (as of 11/16/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Note | Limited offer: you can earn a 0.70% APY boost for 6 months, making the total APY 4.30%. 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 | 4.7/5 | 4.8/5 | |
| Google Play Rating | 4.5/5 | 4.0/5 | |
| BBB Rating | B | A+ |
Comparative Historical APY Insights (Last 10 Months)
| Bask Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Interest Savings Account | vs | SoFi Savings |
| Latest APY | 3.90 % | 4.30 % | |
| Trend | Sideways | Rising | |
| Slope (bps/mo) | -4.1 | 7.4 | |
| Rate Changes / Mo | 0.50 | 0.30 | |
| Days Since Last Change | 10 | 4 | |
| High (-10 m) | 4.50 % | 4.50 % | |
| Low (-10 m) | 3.90 % | 3.80 % | |
| Draw-down from High | -13.3 % | -4.4 % | |
| Volatility (CV) | 0.031 | 0.075 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 298 days.
- Low (-10 m)
- Lowest APY in the last 298 days.
- Draw-down from High
- How far today sits below the 10-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.