Fitness Bank vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: June 16, 2025
Summary of Fitness Bank vs. SoFi Bank
As of June 16, 2025 Fitness Bank offers an APY of 5.00% for its Fitness Elite Checking & Fitness Savings Combo account, compared to SoFi Bank's 3.80% APY for its SoFi Savings account.
Fitness Bank yields $120 more than SoFi Bank on a $10,000 balance after one year. Fitness Bank pays $500, while SoFi Bank pays $380 - an APY advantage for Fitness Bank.
In addition, Fitness Bank also offers 4.55% APY for the Fitness Savings Account account.
Fitness Bank
Strengths
- Fitness Bank offers a high APY of 5.00% for its Fitness Elite Checking & Fitness Savings Combo.
- No direct deposit requirement for Fitness Bank accounts allows easier access for customers.
- Fitness Bank's BBB rating is A+, indicating strong trustworthiness.
Potential Drawbacks
- Fitness Bank has low App Store and Google Play ratings, at 1.7 and 0.0 respectively.
- Maintenance fees apply for Fitness Bank accounts unless balance requirements are met.
- Fitness Bank's high APY requires meeting multiple activity criteria, making it less accessible.
SoFi Bank
Strengths
- SoFi Bank has a high App Store rating of 4.8 and Google Play rating of 4.5.
- SoFi Bank charges no maintenance fees and requires no minimum balance for its accounts.
- SoFi Bank's BBB rating is A+, indicating strong trustworthiness.
Potential Drawbacks
- SoFi Bank's current APY is lower at 3.80% compared to Fitness Bank's 5.00%.
- To earn the highest APY, SoFi Bank requires either direct deposit or a Qualifying Deposit.
- SoFi Bank's APY may drop significantly without meeting deposit requirements.
Summary: Fitness Bank offers a higher APY of 5.00% compared to SoFi Bank's 3.80%, but requires meeting specific criteria to maintain that rate. SoFi Bank, while lower in APY, has no maintenance fees or minimum balance requirements, making it more accessible. Both banks have an A+ BBB rating, but Fitness Bank struggles with low app ratings, whereas SoFi Bank enjoys high ratings on both platforms.
Compare Fitness Bank's vs SoFi Bank's Savings Accounts
| Fitness Bank | SoFi Bank | |||
|---|---|---|---|---|
| Product | Fitness Savings Account | Fitness Elite Checking & Fitness Savings Combo | vs | SoFi Savings |
| APY | 4.55% (as of 6/16/2025) | 5.00% (as of 6/16/2025) | 3.80% (as of 6/16/2025) | |
| Bundled Account | No | Yes | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $0 | |
| Minimum Balance for APY | $100 | $100 | $0 | |
| Maintenance Fee | $10. Waived for average daily balances > $100 | $10. Waived for average daily balances > $100 | $0 | |
| Direct Deposit Required | No | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Note | This is a tiered account. To earn the highest tier you must track at least 12,500 avg. daily steps using the FitnessBank Step Tracker app as well as maintain a balance of $100. Failure to do so will result in a lower APY. See bank for more details and all tiers. | This is a tiered account. To earn the highest tier you must make 15 debit card transactions per Account Period, maintain $5,000 avg. minimum balance in the Elite Checking account, track at least 10,000 avg. daily steps using the FitnessBank Step Tracker app, as well as maintain a savings balance of $100. Failure to do so will result in a lower APY. See bank for more details and all tiers. | The 3.80% APY requires either a direct deposit of regular income (of any amount) or a Qualifying Deposit of $5,000 for any 30-day period. The savings account comes bundled with a checking account. | |
| Visit Bank | Fitness Savings Account | Fitness Elite Checking & Fitness Savings Combo | SoFi Savings | |
| App Store Rating | 1.7/5 | 4.8/5 | ||
| Google Play Rating | No | 4.5/5 | ||
| BBB Rating | A+ | A+ | ||
Comparative Historical APY Insights (Last 3 Months)
| Fitness Bank | SoFi Bank | |||
|---|---|---|---|---|
| Product | Fitness Elite Checking & Fitness Savings Combo | Fitness Savings Account | vs | SoFi Savings |
| Latest APY | 5.00 % | 4.55 % | 3.80 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.00 | |
| Days Since Last Change | 91 | 91 | 91 | |
| High (-3 m) | 5.00 % | 4.55 % | 3.80 % | |
| Low (-3 m) | 5.00 % | 4.55 % | 3.80 % | |
| Draw-down from High | 0.0 % | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 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 (-3 m)
- Highest APY in the last 92 days.
- Low (-3 m)
- Lowest APY in the last 92 days.
- Draw-down from High
- How far today sits below the 3-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.
Calculate Savings Growth for Fitness Bank vs SoFi Bank
All calculations are based on APY.
Fitness Bank
APY: 5.00%
Total savings breakdown:
- Interest earned: $50 (4.76%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.24%)
Your total balance
$1,050.00
Effective APY: 5.00% (based on your deposit and contributions)
Total balance: $1,050
Earnings: $50
Bank DetailsSoFi Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $38 (3.66%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.34%)
Your total balance
$1,038.00
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $1,038
Earnings: $38
Bank DetailsAfter 1 year Fitness Bank would earn you $12 more than SoFi Bank.
More Comparisons
Compare Fitness Bank's APY of 5.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Fitness Bank vs Ally Bank | 3.60% | $0 |
| Fitness Bank vs American Express | 3.60% | $0 |
| Fitness Bank vs Axos Bank | 4.66% | $0 |
| Fitness Bank vs Bank of America | 0.01% | $100 |
| Fitness Bank vs Barclays | 4.20% | $0 |
| Fitness Bank vs Capital One | 3.60% | $0 |
| Fitness Bank vs Chase Bank | 0.01% | $0 |
| Fitness Bank vs Chime | 3.75% | $0 |
| Fitness Bank vs CIT Bank | 4.00% | $100 |
| Fitness Bank vs Discover Bank | 3.60% | $0 |
| Fitness Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Fitness Bank vs Synchrony Bank | 3.80% | $0 |
| Fitness Bank vs Varo Bank | 5.00% | $0 |
Compare SoFi Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| SoFi Bank vs Ally Bank | 3.60% | $0 |
| SoFi Bank vs American Express | 3.60% | $0 |
| SoFi Bank vs Axos Bank | 4.66% | $0 |
| SoFi Bank vs Bank of America | 0.01% | $100 |
| SoFi Bank vs Barclays | 4.20% | $0 |
| SoFi Bank vs Capital One | 3.60% | $0 |
| SoFi Bank vs Chase Bank | 0.01% | $0 |
| SoFi Bank vs Chime | 3.75% | $0 |
| SoFi Bank vs CIT Bank | 4.00% | $100 |
| SoFi Bank vs Discover Bank | 3.60% | $0 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |