Elevault vs. Sofi Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Elevault vs. SoFi Bank
Key Metrics at a Glance
| Feature | Elevault | SoFi Bank |
|---|---|---|
| Top Savings APY | 4.34% High Yield Savings Account | 4.50% SoFi Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0 |
| Note | The 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | 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. |
Elevault
Strengths
- Elevault offers a higher APY of 4.34% compared to SoFi's 4.50% with conditions.
- Elevault has no direct deposit requirement for its High Yield Savings Account.
- Elevault has a lower maintenance fee of $0.
Potential Drawbacks
- Elevault's APY decreased from 4.60% in the last 30 days.
- Elevault has a lower App Store rating of 3.8 compared to SoFi's 4.8.
- Elevault is not BBB Accredited despite its A+ rating.
SoFi Bank
Strengths
- SoFi Bank offers a total APY of 4.50% with a 0.70% boost for 6 months.
- SoFi has a higher App Store rating of 4.8 compared to Elevault's 3.8.
- SoFi Bank is BBB Accredited, enhancing its trustworthiness.
Potential Drawbacks
- SoFi's APY requires either direct deposit or a subscription for the boost.
- SoFi has a lower Google Play rating of 4.1 compared to Elevault's 3.9.
- SoFi's APY is not as high as Elevault's previous rate of 4.60%.
Summary: Elevault offers a competitive APY of 4.34% with no direct deposit requirement, but its rate has decreased recently. SoFi Bank provides a total APY of 4.50% with conditions, along with a higher App Store rating and BBB Accreditation. However, SoFi's APY is contingent on direct deposit or subscription, which may limit accessibility. Overall, Elevault may appeal to those seeking straightforward terms, while SoFi offers additional incentives for qualifying deposits.
→ As of October 21, 2025 Elevault offers an APY of 4.34% for its High Yield Savings Account, with a minimum balance of $0, compared to SoFi Bank's 4.50% APY for its SoFi Savings account, with a minimum balance of $0.
→ SoFi Bank yields $16 more than Elevault on a $10,000 balance after one year. Elevault pays $434, while SoFi Bank pays $450 - an APY advantage for SoFi Bank.
Calculate Savings Growth for Elevault vs SoFi Bank
All calculations are based on APY.
Elevault - High Yield Savings Account
Top APY: 4.34%
Total savings breakdown:
- Interest earned: $2,655.5 (12.86%)
- Total contributions: $13,000 (62.94%)
- Initial deposit: $5,000 (24.21%)
Your total balance
$20,655.50
Effective APY: 4.34% (based on your deposit and contributions)
Total balance: $20,655.5
Earnings: $2,655.5
Bank OverviewSoFi Bank - SoFi Savings
Top APY: 4.50%
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
Effective APY: 4.50% (based on your deposit and contributions)
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, Elevault's total earnings would be $104.6 lower than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Elevault's vs SoFi Bank's Savings Accounts
| Elevault | SoFi Bank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | SoFi Savings |
| APY | 4.34% (as of 10/21/2025) | 4.50% (as of 10/21/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Note | The 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | 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 | 3.8/5 | 4.8/5 | |
| Google Play Rating | 3.9/5 | 4.1/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 2 Months)
| Elevault | SoFi Bank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | SoFi Savings |
| Latest APY | 4.34 % | 4.50 % | |
| Trend | Falling | Rising | |
| Slope (bps/mo) | -14.7 | 40.9 | |
| Rate Changes / Mo | 0.39 | 0.39 | |
| Days Since Last Change | 29 | 40 | |
| High (-2 m) | 4.60 % | 4.50 % | |
| Low (-2 m) | 4.34 % | 3.80 % | |
| Draw-down from High | -5.7 % | 0.0 % | |
| Volatility (CV) | 0.028 | 0.084 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 2 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 (-2 m)
- Highest APY in the last 76 days.
- Low (-2 m)
- Lowest APY in the last 76 days.
- Draw-down from High
- How far today sits below the 2-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.