E*TRADE from Morgan Stanley vs. SoFi Bank
Comparing E*TRADE from Morgan Stanley and SoFi Bank for high-yield savings: E*TRADE from Morgan Stanley's Premium Savings Account pays 3.35% 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 $30 more than E*TRADE from Morgan Stanley annually ($365 vs $335).
Choose E*TRADE from Morgan Stanley if you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, or you're an Android user. Choose SoFi Bank if getting the best rate matters most, or BBB rating matters to you.
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%). E*TRADE from Morgan Stanley's 3.35% 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 E*TRADE from Morgan Stanley offers its savings account standalone.
| Metric | E*TRADE from Morgan StanleyPremium Savings Account Mar 24, 2026 | SoFi BankSoFi Savings Mar 24, 2026 |
|---|---|---|
| APY | 3.35% | 3.30% - 4.00% |
Est. Earnings | $5,000+$168 $10,000+$335 $25,000+$838 | $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 AppZelle® SupportedDaily CompoundingRate Changes Often | 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 E*TRADE from Morgan Stanley vs. SoFi Bank
Executive Summary
SoFi Bank offers a SoFi Savings account with a competitive 4.00% APY, which includes a temporary 0.70% boost for six months, making it ideal for customers who can meet direct deposit requirements or opt for a $10/month subscription. In contrast, E*TRADE from Morgan Stanley provides a Premium Savings Account with a solid 3.35% APY, with no direct deposit requirement and no maintenance fees. Both accounts are online-only, but SoFi's higher yield makes it the more attractive option for savers, especially when bundled with a checking account that offers a 0.50% APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why E*TRADE from Morgan Stanley?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.7 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 3.35%) 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 $335/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $913 vs $838/yr).
Best for Simplicity
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley's Premium Savings Account offers 3.35% 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 (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $30 more interest on a $10,000 balance than E*TRADE from Morgan Stanley's Premium Savings Account.
*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
E*TRADE from Morgan Stanley vs. SoFi Bank Savings Calculator
You earn $29.9 more with SoFi Bank than E*TRADE from Morgan Stanley 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.
E*TRADE from Morgan Stanley
Premium Savings Account
Savings Breakdown
- Interest Earned+$335.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,335.00
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 $334 per year in interest.
Both E*TRADE from Morgan Stanley and SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | E*TRADE from Morgan Stanley | SoFi Bank |
|---|---|---|
| APY | 3.35% Verified: 3/24/2026 ↘︎ 0.15%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 3/24/2026 Stable (90d) |
| Product Name | Premium Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0+ | $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 | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Premium Savings and Checking. | Available Native support added in 2024 for banking members. |
| BBB Rating | D- | 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 E*TRADE from Morgan Stanley 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 | E*TRADE from Morgan Stanley | SoFi Bank |
|---|---|---|
| Premium Savings Account | SoFi Savings | |
Current APY | 3.35% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -6.5 | 3.1 |
Days Since Change | 49 | 91 |
12-Month High | 4.00% | 4.50% |
12-Month Low | 3.35% | 3.80% |
Adjustments / Mo | 0.25 | 0.25 |
Volatility Score | 0.067 | 0.064 |
How to read these metrics(Click to expand)
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