Ivy Bank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ivy BankHigh-Yield Savings Account Jan 7, 2026 | SoFi BankSoFi Savings Jan 7, 2026 |
|---|---|---|
| APY | 0.05% - 4.10% | 3.30% - 4.00% |
Est. Earnings | $5,000+$205 $10,000+$410 $25,000+$1,025 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $2,500 | $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 InsuredMod. MinimumGreat iOS App | 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 4.21% APY.
As of Ivy Bank offers an APY of 4.10% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to SoFi Bank's 4.00% APY for its SoFi Savings account, with a minimum balance of $0.
Ivy Bank pays $45 more than SoFi Bank on a $10,000 balance after one year. Ivy Bank pays $410, while SoFi Bank pays $365 (with an effective APY of 3.65%) - an APY advantage for Ivy Bank.
Why Ivy Bank?
- ✓No checking account or direct deposit required
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
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $410 vs $365/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1025 vs $913/yr).
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $45 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Ivy Bank's standard rate still yields a higher 1-year return.
Executive Summary as of
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 4.10%, making it the higher-yielding option compared to SoFi Bank's savings account, which has an APY of 4.00%. Ivy Bank's account requires a minimum deposit and balance of $2,500, and is available only to residents of California and U.S. Territories (excluding the District of Columbia). In contrast, SoFi's account has no minimum deposit or balance requirements, but it includes a temporary APY boost of 0.70% for six months with direct deposit or a $10/month subscription fee. Both accounts are online-only and have no maintenance fees.
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
Ivy Bank vs. SoFi Bank Savings Calculator
You earn $45.1 more with Ivy Bank 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.
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$410.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,410.00
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 | Ivy Bank | SoFi Bank |
|---|---|---|
| APY | 4.10% Range: 0.05% - 4.10% Verified: 1/7/2026 - | 4.00% Range: 3.30% - 4.00% Verified: 1/7/2026 ↘︎ 0.50%90d Change |
| Product Name | High-Yield Savings Account | SoFi Savings |
| Minimum Deposit | $2,500 | $0 |
| Min. Balance for APY | $2,500 | $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 Android3.5 | iOS4.8 Android3.9 |
| Zelle® Support | Not Supported | 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 Ivy Bank 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 | Ivy Bank | SoFi Bank |
|---|---|---|
| High-Yield Savings Account | SoFi Savings | |
Current APY | 4.10% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -11.9 | -20.3 |
Days Since Change | 22 | 15 |
2-Month High | 4.25% | 4.30% |
2-Month Low | 4.10% | 4.00% |
Adjustments / Mo | 0.55 | 0.55 |
Volatility Score | 0.018 | 0.032 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Ivy Bank vs...
Comparing against Standard Savings
Compare SoFi Bank vs...
Comparing against other Bundled Accounts