Citibank vs. Sofi Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Citibank vs. SoFi Bank
Key Metrics at a Glance
| Feature | Citibank | SoFi Bank |
|---|---|---|
| Top Savings APY | 3.35% Citi Accelerate Savings | 4.30% SoFi Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0.01 | $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. |
Citibank
Strengths
- Citi Accelerate Savings has a current APY of 3.35%, slightly decreased from 3.40% in the last 30 days.
- Citibank has a high App Store rating of 4.9.
- Citibank offers two savings accounts, providing options for different needs.
Potential Drawbacks
- Citibank has a low BBB rating of D- and is not BBB Accredited.
- Citi Accelerate Savings has a maintenance fee of $4.50 unless a balance of $500 is maintained.
- Citibank's Google Play rating is lower at 4.8 compared to SoFi Bank.
SoFi Bank
Strengths
- SoFi Bank offers a higher current APY of 4.30%, although it decreased from 4.50% recently.
- SoFi Bank has a strong BBB rating of A+.
- SoFi Bank has no maintenance fees for its savings account.
Potential Drawbacks
- SoFi Bank's Google Play rating is lower at 4.1.
- SoFi's APY requires direct deposit or qualifying deposits to avoid a lower rate.
- SoFi Bank does not have physical branches.
Summary: SoFi Bank offers a higher APY of 4.30% for its savings account, compared to Citibank's 3.35%. However, SoFi requires direct deposit or qualifying deposits to maintain this rate. Citibank has a D- BBB rating, while SoFi boasts an A+ rating. Citibank charges a maintenance fee unless a balance of $500 is maintained, whereas SoFi has no fees. Citibank also has a higher App Store rating but lacks physical branches.
→ As of November 12, 2025 Citibank offers an APY of 3.35% for its Citi Accelerate Savings account, with a minimum balance of $0.01, compared to SoFi Bank's 4.30% APY for its SoFi Savings account, with a minimum balance of $0.
→ SoFi Bank yields $95 more than Citibank on a $10,000 balance after one year. Citibank pays $335, while SoFi Bank pays $430 - an APY advantage for SoFi Bank.
→ In addition, Citibank also offers 0.03% APY for the Citi® Savings Account account.
Calculate Savings Growth for Citibank vs SoFi Bank
All calculations are based on APY.
Citibank - Citi Accelerate Savings
Top APY: 3.35%
Total savings breakdown:
- Interest earned: $2,018.8 (10.08%)
- Total contributions: $13,000 (64.94%)
- Initial deposit: $5,000 (24.98%)
Your total balance
$20,018.80
Effective APY: 3.35% (based on your deposit and contributions)
Total balance: $20,018.8
Earnings: $2,018.8
Bank OverviewSoFi Bank - SoFi Savings
Top APY: 4.30%
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
Effective APY: 4.30% (based on your deposit and contributions)
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, Citibank's total earnings would be $610.6 lower than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Citibank's vs SoFi Bank's Savings Accounts
| Citibank | SoFi Bank | |||
|---|---|---|---|---|
| Product | Citi Accelerate Savings | Citi® Savings Account | vs | SoFi Savings |
| APY | 3.35% (as of 11/12/2025) | 0.03% (as of 11/12/2025) | 4.30% (as of 11/12/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | No | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $0.01 | $0 | |
| Maintenance Fee | $4.50. Waived for average monthly balances > $500 | $4.50. Waived for average monthly balances > $500 | $0 | |
| Direct Deposit Required | No | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Eligibility | Alaska, Alabama, Arkansas, Arizona, Colorado, Delaware, Florida (select parts), Georgia, Hawaii, Iowa, Idaho, Illinois (select parts), Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia (partial), Washington (partial), Wisconsin, West Virginia, Wyoming. | California, Connecticut, Maryland, Nevada, New Jersey, New York, Virginia (partial), Washington D.C., and select parts of Florida and Illinois. In addition, promotional rates may be available if requirements are met. | United States | |
| 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 | 4.9/5 | 4.8/5 | ||
| Google Play Rating | 4.8/5 | 4.1/5 | ||
| BBB Rating | D- | A+ | ||
Comparative Historical APY Insights (Last 9 Months)
| Citibank | SoFi Bank | |||
|---|---|---|---|---|
| Product | Citi® Savings Account | Citi Accelerate Savings | vs | SoFi Savings |
| Latest APY | 0.03 % | 3.35 % | 4.30 % | |
| Trend | Sideways | Sideways | Rising | |
| Slope (bps/mo) | 0.0 | -4.8 | 7.7 | |
| Rate Changes / Mo | 0.00 | 0.52 | 0.21 | |
| Days Since Last Change | 289 | 9 | 1 | |
| High (-9 m) | 0.03 % | 3.80 % | 4.50 % | |
| Low (-9 m) | 0.03 % | 3.35 % | 3.80 % | |
| Draw-down from High | 0.0 % | -11.8 % | -4.4 % | |
| Volatility (CV) | 0.000 | 0.039 | 0.075 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 289 days.
- Low (-9 m)
- Lowest APY in the last 289 days.
- Draw-down from High
- How far today sits below the 9-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.