EverBank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
EverBank
Performance Savings
4.05%APYDec 6, 2025FDIC InsuredNo MinimumsShow Fine Print & Trends Hide Details
EverBank
Performance Savings
SoFi Bank
SoFi Savings
Up to4.30%APYDec 6, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 3.60% – 4.30%Show Fine Print & Trends Hide Details
SoFi Bank
SoFi Savings
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing EverBank vs. SoFi Bank
Why EverBank?
- ✓No checking account or direct deposit required
- ✓Physical branch access (11 locations in Florida and California)
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 (4.30% vs 4.05%) on all balances
- ✓Higher rated iOS app (4.8 vs 2.3)
- ✓Higher rated Android app (4.0 vs 1.4)
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $430 vs $405/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $1075 vs $1013/yr).
Best for Simplicity
EverBankEverBank's Performance 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.
Best Mobile App Experience
SoFi BankSoFi Bank offers an iOS app rated 4.8 (vs. 2.3) and Android app rated 4.0 (vs. 1.4)
Shared Benefits
Over a 1-year period, SoFi Bank's SoFi Savings pays $25 more interest on a $10,000 balance than EverBank's Performance Savings.
Executive Summary
SoFi Bank offers the highest APY of 4.30% on its SoFi Savings account, which is available with a direct deposit of regular income or a $10/month subscription fee. This account is bundled with a checking account that has a 0.50% APY, providing a comprehensive banking solution. In contrast, EverBank's Performance Savings provides a solid APY of 4.05% with no direct deposit requirement or maintenance fees, making it a simple alternative for savers. Both banks operate online only and have no minimum deposit or balance requirements.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both EverBank and SoFi Bank.
| Feature | EverBank | SoFi Bank |
|---|---|---|
| APY | 4.05% Verified: 12/6/2025 ↘︎ 0.25%90d Change | 4.30% Range: 3.60% - 4.30% Verified: 12/6/2025 ↗︎ 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 | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS2.3 Android1.4 | iOS4.8 Android4.0 |
| BBB Rating | A+ | A+ |
| Important Notes | - | Limited offer: The 4.30% 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 |
Savings Comparison
SoFi Bank earns $162.4 more than EverBank.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$2,467.00(12.1%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,467.00
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$2,629.40(12.7%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,629.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | EverBank | SoFi Bank |
|---|---|---|
| Performance Savings | SoFi Savings | |
Current APY | 4.05% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.8 | 7.1 |
Days Since Change | 78 | 24 |
10-Month High | 4.30% | 4.50% |
10-Month Low | 4.05% | 3.80% |
Adjustments / Mo | 0.09 | 0.28 |
Volatility Score | 0.027 | 0.074 |
How to read these metrics(Click to expand)
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