Citizens Access vs. Sofi Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of Citizens Access™ vs. SoFi Bank
Key Metrics at a Glance
| Feature | Citizens Access™ | SoFi Bank |
|---|---|---|
| Top Savings APY | 3.50% Citizens Access® Savings | 4.50% SoFi Savings |
| Minimum to Open | $0.01 | $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 4.50%. 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. |
Citizens Access™
Strengths
- Citizens Access offers a competitive APY of 3.50%.
- No direct deposit requirement for Citizens Access savings account.
- Citizens Access has a high App Store rating of 4.8.
Potential Drawbacks
- Citizens Access has no branch locations.
- Citizens Access does not offer a promotional APY boost.
SoFi Bank
Strengths
- SoFi Bank provides a higher APY of 4.50% with conditions.
- SoFi Bank offers a promotional APY boost for 6 months.
- SoFi Bank's savings account includes a bundled checking account.
Potential Drawbacks
- SoFi Bank has a lower Google Play rating of 4.2.
- SoFi Bank requires direct deposit or subscription for higher APY.
→ As of October 16, 2025 Citizens Access™ offers an APY of 3.50% for its Citizens Access® Savings account, with a minimum balance of $0.01, compared to SoFi Bank's 4.50% APY for its SoFi Savings account, with a minimum balance of $0.
→ SoFi Bank yields $100 more than Citizens Access™ on a $10,000 balance after one year. Citizens Access™ pays $350, while SoFi Bank pays $450 - an APY advantage for SoFi Bank.
Calculate Savings Growth for Citizens Access™ vs SoFi Bank
Citizens Access™
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewSoFi Bank
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Citizens Access™'s total earnings would be $646 lower than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Citizens Access™'s vs SoFi Bank's Savings Accounts
| Citizens Access™ | SoFi Bank | ||
|---|---|---|---|
| Product | Citizens Access® Savings | vs | SoFi Savings |
| APY | 3.50% (as of 10/16/2025) | 4.50% (as of 10/16/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0.01 | $0 | |
| Minimum Balance for APY | $0.01 | $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 4.50%. 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 | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.8/5 | 4.2/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 9 Months)
| Citizens Access™ | SoFi Bank | ||
|---|---|---|---|
| Product | Citizens Access® Savings | vs | SoFi Savings |
| Latest APY | 3.50 % | 4.50 % | |
| Trend | Sideways | Rising | |
| Slope (bps/mo) | -2.9 | 5.7 | |
| Rate Changes / Mo | 0.11 | 0.11 | |
| Days Since Last Change | 78 | 35 | |
| High (-9 m) | 3.70 % | 4.50 % | |
| Low (-9 m) | 3.50 % | 3.80 % | |
| Draw-down from High | -5.4 % | 0.0 % | |
| Volatility (CV) | 0.025 | 0.062 |
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 262 days.
- Low (-9 m)
- Lowest APY in the last 262 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.