Colorado Federal Savings Bank vs. SoFi Bank
Comparing Colorado Federal Savings Bank and SoFi Bank for high-yield savings: Colorado Federal Savings Bank's Premier Savings pays 4.05% 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 $365 more than Colorado Federal Savings Bank annually ($365 vs $0).
Choose Colorado Federal Savings Bank if you want a no-strings-attached account, or you want to avoid a promo rate with a scheduled drop. Choose SoFi Bank if getting the best rate matters most, you're an Android user (no Android app for Colorado Federal Savings Bank), or you want Zelle for quick transfers.
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%). Colorado Federal Savings Bank's 4.05% 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 Colorado Federal Savings Bank offers its savings account standalone.
| Metric | Colorado Federal Savings BankPremier Savings Feb 21, 2026 | SoFi BankSoFi Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.05% | 3.30% - 4.00% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$0 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $50,000 | $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 InsuredHigh MinimumGreat iOS AppDaily CompoundingStable Rate | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Colorado Federal Savings Bank vs. SoFi Bank
Executive Summary
Colorado Federal Savings Bank offers a Premier Savings account with a competitive APY of 4.05%, making it a strong choice for savers looking for simplicity without any direct deposit requirements. In contrast, SoFi Bank's SoFi Savings account provides an APY of 4.00%, which includes a temporary boost but requires a $10 monthly subscription if direct deposit is not utilized. While SoFi's account can be beneficial when bundled with a checking account, Colorado Federal's Premier Savings stands out for its higher yield and straightforward terms.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Colorado Federal Savings Bank?
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
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 rated iOS app (4.8 vs 4.4)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $365 vs $0/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $0/yr).
Best for Simplicity
Colorado Federal Savings BankColorado Federal Savings Bank's Premier Savings offers 4.05% 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.
Shared Benefits
Over a 1-year period, Colorado Federal Savings Bank's Premier Savings pays $40 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Colorado Federal Savings 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
Colorado Federal Savings Bank vs. SoFi Bank Savings Calculator
You earn $200.3 more with Colorado Federal Savings Bank than SoFi Bank on a $50,000 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.
Colorado Federal Savings Bank
Premier Savings
Savings Breakdown
- Interest Earned+$2,025.00(3.9%)
- Total Contributions$0
- Initial Deposit$50,000
Projected Balance
$52,025.00
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$1,824.70(3.5%)
- Total Contributions$0
- Initial Deposit$50,000
Projected Balance
$51,824.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Colorado Federal Savings Bank | SoFi Bank |
|---|---|---|
| APY | 4.05% Verified: 2/21/2026 Stable (90d) | 4.00% Range: 3.30% - 4.00% Verified: 2/21/2026 ↘︎ 0.30%90d Change |
| Product Name | Premier Savings | SoFi Savings |
| Minimum Deposit | $50,000 | $0 |
| Min. Balance for APY | $50,000 | $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 | iOS4.4 Android- | |
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | 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 Colorado Federal Savings 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 | Colorado Federal Savings Bank | SoFi Bank | |
|---|---|---|---|
| Premier Savings | High Yield Savings | SoFi Savings | |
Current APY | 4.05% | 4.00% | 4.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.4 | -2.4 | 4.2 |
Days Since Change | 134 | 134 | 60 |
12-Month High | 4.25% | 4.25% | 4.50% |
12-Month Low | 4.05% | 4.00% | 3.80% |
Adjustments / Mo | 0.16 | 0.33 | 0.25 |
Volatility Score | 0.022 | 0.023 | 0.067 |
How to read these metrics(Click to expand)
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