Go2bank vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of GO2bank vs. SoFi Bank
As of September 5, 2025 GO2bank offers an APY of 4.50% for its High Yield Savings account, with a minimum balance of $0, compared to SoFi Bank's 3.80% APY for its SoFi Savings account, with a minimum balance of $0.
GO2bank yields $70 more than SoFi Bank on a $10,000 balance after one year. GO2bank pays $450, while SoFi Bank pays $380 - an APY advantage for GO2bank.
GO2bank
Strengths
- GO2bank offers a higher APY of 4.50% for balances up to $5,000.
- GO2bank has no minimum deposit or balance requirements.
- GO2bank's App Store rating is 4.8, indicating strong user satisfaction.
Potential Drawbacks
- GO2bank is not BBB accredited and has no BBB rating.
- GO2bank charges a $5 monthly maintenance fee without direct deposit.
- GO2bank does not offer interest on balances above $5,000.
SoFi Bank
Strengths
- SoFi Bank has an A+ BBB rating, indicating strong trustworthiness.
- SoFi Bank has no maintenance fees, making it cost-effective.
- SoFi Bank's checking account is bundled with the savings account.
Potential Drawbacks
- SoFi Bank's APY is lower at 3.80%, requiring direct deposit or $5,000 deposits.
- SoFi Bank's Google Play rating is lower at 4.4 compared to GO2bank.
- SoFi Bank has a direct deposit requirement to avoid lower APY.
Summary: GO2bank offers a higher APY of 4.50% with no maintenance fees but lacks a BBB rating. In contrast, SoFi Bank has an A+ BBB rating and no fees, but its APY is lower at 3.80% and requires direct deposits or qualifying deposits. Both banks have similar App Store ratings, but GO2bank has a slight edge in user satisfaction on that platform.
Compare GO2bank's vs SoFi Bank's Savings Accounts
| GO2bank | SoFi Bank | ||
|---|---|---|---|
| Product | High Yield Savings | vs | SoFi Savings |
| APY | 4.50% (as of 9/5/2025) | 3.80% (as of 9/5/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Quarterly | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $5 per month, unless you set up direct deposit | $0 | |
| Direct Deposit Required | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Note | The 4.50% APY is up to $5,000. Balances above that earn no interest. | 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. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.4/5 | |
| BBB Rating | Not Rated | A+ |
Comparative Historical APY Insights (Last 1 Month)
| GO2bank | SoFi Bank | ||
|---|---|---|---|
| Product | High Yield Savings | vs | SoFi Savings |
| Latest APY | 4.50 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 30 | 30 | |
| High (-1 m) | 4.50 % | 3.80 % | |
| Low (-1 m) | 4.50 % | 3.80 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 1 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 (-1 m)
- Highest APY in the last 31 days.
- Low (-1 m)
- Lowest APY in the last 31 days.
- Draw-down from High
- How far today sits below the 1-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 GO2bank vs SoFi Bank
All calculations are based on APY.
GO2bank
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 OverviewSoFi Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, GO2bank's total earnings would be $454.2 higher than SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare GO2bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| GO2bank vs Ally Bank | 3.50% | $0 |
| GO2bank vs American Express | 3.50% | $0 |
| GO2bank vs Axos Bank | 4.46% | $0 |
| GO2bank vs Bank of America | 0.01% | $100 |
| GO2bank vs Barclays | 4.10% | $0 |
| GO2bank vs BrioDirect | 4.30% | $5,000 |
| GO2bank vs Capital One | 3.50% | $0 |
| GO2bank vs Chase Bank | 0.01% | $0 |
| GO2bank vs Chime | 3.75% | $0 |
| GO2bank vs CIT Bank | 4.00% | $100 |
| GO2bank vs Discover Bank | 3.50% | $0 |
| GO2bank vs Elevault | 4.60% | $0 |
| GO2bank vs EverBank | 4.30% | $0 |
| GO2bank vs Fitness Bank | 4.75% | $100 |
| GO2bank vs FVCbank | 4.35% | $500 |
| GO2bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| GO2bank vs Neighbors Bank | 4.60% | $0 |
| GO2bank vs Newtek Bank | 4.35% | $0 |
| GO2bank vs Peak Bank | 4.35% | $100 |
| GO2bank vs Pibank | 4.60% | $0 |
| GO2bank vs Presidential Bank | 4.50% | $5,000 |
| GO2bank vs Santander Bank | 0.03% | $25 |
| GO2bank vs Synchrony Bank | 3.80% | $0 |
| GO2bank vs TIMBR | 4.40% | $1,000 |
| GO2bank vs UFB Direct | 4.21% | $5000 |
| GO2bank vs Varo Bank | 5.00% | $0 |
| GO2bank vs Wells Fargo | 2.51% | $25 |
| GO2bank vs Zynlo Bank | 4.35% | $10 |
Compare SoFi Bank's APY of 3.80% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| SoFi Bank vs Ally Bank | 3.50% | $0 |
| SoFi Bank vs American Express | 3.50% | $0 |
| SoFi Bank vs Axos Bank | 4.46% | $0 |
| SoFi Bank vs Bank of America | 0.01% | $100 |
| SoFi Bank vs Barclays | 4.10% | $0 |
| SoFi Bank vs BrioDirect | 4.30% | $5,000 |
| SoFi Bank vs Capital One | 3.50% | $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 | 3.50% | $0 |
| SoFi Bank vs Elevault | 4.60% | $0 |
| SoFi Bank vs EverBank | 4.30% | $0 |
| SoFi Bank vs Fitness Bank | 4.75% | $100 |
| SoFi Bank vs FVCbank | 4.35% | $500 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Neighbors Bank | 4.60% | $0 |
| SoFi Bank vs Newtek Bank | 4.35% | $0 |
| SoFi Bank vs Peak Bank | 4.35% | $100 |
| SoFi Bank vs Pibank | 4.60% | $0 |
| SoFi Bank vs Presidential Bank | 4.50% | $5,000 |
| SoFi Bank vs Santander Bank | 0.03% | $25 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs TIMBR | 4.40% | $1,000 |
| SoFi Bank vs UFB Direct | 4.21% | $5000 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 2.51% | $25 |
| SoFi Bank vs Zynlo Bank | 4.35% | $10 |