EverBank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | EverBankPerformance Savings Jan 21, 2026 | SoFi BankSoFi Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.90% | 3.30% - 4.00% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $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® Supported | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
As of EverBank offers an APY of 3.90% for its Performance Savings account, with a minimum balance of $0, compared to SoFi Bank's 4.00% APY for its SoFi Savings account, with a minimum balance of $0.
EverBank pays $25 more than SoFi Bank on a $10,000 balance after one year. EverBank pays $390, while SoFi Bank pays $365 (with an effective APY of 3.65%) - an APY advantage for EverBank.
Why EverBank?
- ✓No checking account or direct deposit required
- ✓Physical branch access (11 locations in Florida and California)
- ✓Higher rated Android app (4.8 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
— Key Feature Differences —
Better Returns at $10,000
EverBankEverBank's Performance Savings earns more on smaller deposits (approx. $390 vs $365/yr).
Better Returns at $25,000
EverBankEverBank's Performance Savings pulls ahead with larger amounts (approx. $975 vs $913/yr).
Best for Simplicity
EverBankEverBank's Performance Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, EverBank's Performance Savings pays $25 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet EverBank's standard rate still yields a higher 1-year return.
Executive Summary as of
SoFi Bank offers a competitive 4.00% APY on its SoFi Savings account, which includes a temporary 0.70% APY boost for the first six months, available with direct deposit or a $10/month subscription fee. This account comes bundled with a checking account that has a 0.50% APY. In comparison, EverBank's Performance Savings provides a steady 3.90% APY with no requirements for direct deposit or account bundling, making it a straightforward option. Both banks operate online only and have no maintenance fees, but SoFi's higher APY makes it the preferred choice for those looking to maximize their savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
EverBank vs. SoFi Bank Savings Calculator
You earn $25.1 more with EverBank than SoFi Bank 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.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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.
| Feature | EverBank | SoFi Bank |
|---|---|---|
| APY | 3.90% Verified: 1/21/2026 ↘︎ 0.15%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 1/21/2026 ↘︎ 0.50%90d Change |
| Product Name | Performance Savings | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| 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 | iOS4.7 Android4.8 | iOS4.8 Android3.9 |
| Zelle® Support | Available Native integration verified. | 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 EverBank 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 | EverBank | SoFi Bank |
|---|---|---|
| Performance Savings | SoFi Savings | |
Current APY | 3.90% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | 5.1 |
Days Since Change | 33 | 29 |
12-Month High | 4.30% | 4.50% |
12-Month Low | 3.90% | 3.80% |
Adjustments / Mo | 0.16 | 0.33 |
Volatility Score | 0.036 | 0.070 |
How to read these metrics(Click to expand)
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