Bask Bank vs. SoFi Bank
Comparing Bask Bank and SoFi Bank for high-yield savings: Bask Bank's Interest Savings Account pays 4.10% APY while SoFi Bank's SoFi Savings pays 3.80% 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? Bask Bank pays $65 more than SoFi Bank annually ($410 vs $345).
Choose Bask Bank if getting the best rate matters most, 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 BBB rating matters to you.
Important Considerations
The key difference? SoFi Bank's 3.80% rate includes a promotional bonus for the first 6 months, after which it reverts to the standard rate (currently 3.10%). Bask Bank's 4.10% 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 Jun 5, 2026 | SoFi BankSoFi Savings Jun 5, 2026 |
|---|---|---|
| APY | 4.10% | 3.10% - 3.80% |
Est. Earnings | $5,000+$205 $10,000+$410 $25,000+$1,025 | $5,000+$173 $10,000+$345 $25,000+$863 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Limited offer: The 3.80% 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 |
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.
Executive Summary
Bask Bank offers a competitive Interest Savings Account with a leading APY of 4.10%, providing better returns compared to SoFi Bank's savings option, which has an APY of 3.80%. Bask Bank's account is straightforward, requiring no direct deposit or maintenance fees, making it an attractive choice for savers. In contrast, SoFi Bank's savings account includes a temporary 0.70% APY boost for six months, but it requires either a direct deposit or a $10 monthly subscription fee to maintain the higher rate. Both accounts are online-only and have no minimum deposit requirements.
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?
- ✓Higher potential APY (4.10% vs 3.80%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.7 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
— Key Feature Differences —
Better Returns at $10,000
Bask BankBask Bank's Interest Savings Account earns more on smaller deposits (approx. $410 vs $345/yr).
Better Returns at $25,000
Bask BankBask Bank's Interest Savings Account pulls ahead with larger amounts (approx. $1025 vs $863/yr).
Best for Simplicity
Bask BankBask Bank's Interest Savings Account offers 4.10% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Bask Bank's Interest Savings Account pays $65 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Bask Bank's standard rate still yields a higher 1-year return.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bask Bank vs. SoFi Bank Savings Calculator
You earn $65.1 more with Bask Bank than SoFi 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+$410.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,410.00
SoFi Bank
SoFi Savings
Promo Rate: 3.80% for 6 months, then 3.10%.
Savings Breakdown
- Interest Earned+$344.90(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,344.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $344 per year in interest.
Both Bask Bank and SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Bask Bank | SoFi Bank |
|---|---|---|
| APY | 4.10% Verified: 6/5/2026 ↗︎ 3.85%90d Change | 3.80% Range: 3.10% - 3.80% Verified: 6/5/2026 ↘︎ 0.20%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 3.80% 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 | 4.10% | 3.80% |
Trend | Stable | Stable |
Velocity (bps/mo) | -28.1 | -0.1 |
Days Since Change | 17 | 8 |
12-Month High | 4.20% | 4.50% |
12-Month Low | 0.25% | 3.80% |
Adjustments / Mo | 0.58 | 0.33 |
Volatility Score | 0.560 | 0.057 |
How to read these metrics(Click to expand)
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Compare Bask Bank's APY of 4.10% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bask Bank vs Ally Bank | 3.10% | $0 |
| Bask Bank vs American Express | 3.10% | $0 |
| Bask Bank vs Axos Bank | 4.21% | $0 |
| Bask Bank vs Barclays | 3.75% | $0 |
| Bask Bank vs Capital One | 3.00% | $0 |
| Bask Bank vs Chime | 3.00% | $0 |
| Bask Bank vs CIT Bank | 3.75% | $100 |
| Bask Bank vs Discover Bank | 3.30% | $0 |
| Bask Bank vs EverBank | 3.90% | $0 |
| Bask Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Bask Bank vs Newtek Bank | 4.20% | $0.01 |
| Bask Bank vs Openbank | 4.00% | $500 |
| Bask Bank vs Pibank | 4.40% | $0 |
| Bask Bank vs Synchrony Bank | 3.40% | $0 |
| Bask Bank vs Varo Bank | 5.00% | $0 |
| Bask Bank vs Wealthfront | 4.20% | $0 |