Capital One vs. SoFi Bank
Comparing Capital One and SoFi Bank for high-yield savings: Capital One's 360 Performance Savings pays 3.20% 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 $45 more than Capital One annually ($365 vs $320).
Choose Capital One if you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, you value in-person banking, or you're an Android user. Choose SoFi Bank if getting the best rate matters most.
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%). Capital One's 3.20% 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 Capital One offers its savings account standalone.
| Metric | Capital One360 Performance Savings Apr 21, 2026 | SoFi BankSoFi Savings Apr 21, 2026 |
|---|---|---|
| APY | 3.20% | 3.30% - 4.00% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $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 AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Capital One vs. SoFi Bank
Executive Summary
SoFi Bank's SoFi Savings leads with a competitive 4.00% APY, which includes a temporary 0.70% boost for six months, available through direct deposit or a $10/month subscription. This account is online-only and comes bundled with a checking account offering a 0.50% APY. In comparison, Capital One's 360 Performance Savings offers a solid 3.20% APY with no direct deposit requirement and no maintenance fees, making it an excellent choice for simplicity. Both accounts have no minimum deposit or balance requirements, but SoFi's higher yield positions it as the winner.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Capital One?
- ✓No checking account or direct deposit required
- ✓Physical branch access (Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.)
- ✓Higher rated Android app (4.5 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 3.20%) 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 $320/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $800/yr).
Best for Simplicity
Capital OneCapital One's 360 Performance Savings offers 3.20% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Best Mobile App Experience
Capital OneCapital One offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.5 (vs. 3.9)
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $45 more interest on a $10,000 balance than Capital One's 360 Performance Savings.
*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
Capital One vs. SoFi Bank Savings Calculator
You earn $44.9 more with SoFi Bank than Capital One 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.
Capital One
360 Performance Savings
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
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.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $319 per year in interest.
Both Capital One and SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Capital One | SoFi Bank |
|---|---|---|
| APY | 3.20% Verified: 4/21/2026 ↘︎ 0.10%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 4/21/2026 Stable (90d) |
| Product Name | 360 Performance Savings | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C. | 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 Limit: $2,500/dayAvailable for 360 Checking accounts. | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | 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 Capital One 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 | Capital One | SoFi Bank |
|---|---|---|
| 360 Performance Savings | SoFi Savings | |
Current APY | 3.20% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | 2.0 |
Days Since Change | 40 | 119 |
12-Month High | 3.60% | 4.50% |
12-Month Low | 3.20% | 3.80% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.037 | 0.061 |
How to read these metrics(Click to expand)
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