Citibank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CitibankCiti Accelerate Savings Jan 7, 2026 | SoFi BankSoFi Savings Jan 7, 2026 |
|---|---|---|
| APY | 3.30% | 3.30% - 4.00% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | 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® Supported | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
As of Citibank offers an APY of 3.30% for its Citi Accelerate Savings account, with a minimum balance of $0.01, compared to SoFi Bank's 4.00% APY for its SoFi Savings account, with a minimum balance of $0.
SoFi Bank pays $35 more than Citibank on a $10,000 balance after one year. Citibank pays $330, while SoFi Bank pays $365 (with an effective APY of 3.65%) - an APY advantage for SoFi Bank.
In addition, Citibank also offers 0.03% APY for the Citi® Savings Account account, with a minimum balance of $0.01.
Why Citibank?
- ✓No checking account or direct deposit required
- ✓Physical branch access (U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.)
- ✓Higher rated Android app (4.8 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 3.30%) on all balances
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $365 vs $330/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $825/yr).
Best for Simplicity
CitibankCitibank's Citi Accelerate Savings offers 3.30% 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
CitibankCitibank offers an iOS app rated 4.9 (vs. 4.8) and Android app rated 4.8 (vs. 3.9)
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $35 more interest on a $10,000 balance than Citibank's Citi Accelerate Savings.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Executive Summary as of
SoFi Bank's SoFi Savings account offers a competitive APY of 4.00%, which includes a temporary 0.70% boost for six months, making it the highest-yielding option between the two banks. This account is available with no minimum deposit and no maintenance fees, although it requires a $10/month subscription if direct deposit is not used. In comparison, Citibank's Citi Accelerate Savings provides a lower APY of 3.30% with no direct deposit requirement and is accessible in select states. Both accounts are online-only, but Citibank's account has a maintenance fee that can be waived with a balance over $500. Overall, SoFi Bank emerges as the more attractive option for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
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Citibank vs. SoFi Bank Savings Calculator
You earn $34.9 more with SoFi Bank than Citibank 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.
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
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 | Citibank | SoFi Bank |
|---|---|---|
| APY | 3.30% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 1/7/2026 ↘︎ 0.50%90d Change |
| Product Name | Citi Accelerate Savings | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $4.50. Waived for average monthly balances > $500 | $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 Android4.8 | iOS4.8 Android3.9 |
| Zelle® Support | Available Limit: $2,500/dayTiered limits based on account status (Citigold higher). | Available Native support added in 2024 for banking members. |
| BBB Rating | D- | A+ |
| Important Notes | Eligibility restricted to select states. | 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 Citibank 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 | Citibank | SoFi Bank | |
|---|---|---|---|
| Citi® Savings Account | Citi Accelerate Savings | SoFi Savings | |
Current APY | 0.03% | 3.30% | 4.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -4.8 | 6.1 |
Days Since Change | 344 | 50 | 15 |
11-Month High | 0.03% | 3.80% | 4.50% |
11-Month Low | 0.03% | 3.30% | 3.80% |
Adjustments / Mo | 0.00 | 0.52 | 0.26 |
Volatility Score | 0.000 | 0.047 | 0.072 |
How to read these metrics(Click to expand)
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