Ivy Bank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Ivy Bank
High-Yield Savings Account
Up to4.25%APYDec 12, 2025FDIC InsuredMod. MinimumGreat iOS AppRange: 0.05% – 4.25%Show Fine Print & Trends Hide Details
Ivy Bank
High-Yield Savings Account
SoFi Bank
SoFi Savings
Up to4.30%APYDec 12, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS 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.
Ivy Bank vs. SoFi Bank Savings Calculator
You earn $30.1 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+$425.00(4.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,425.00
SoFi Bank
SoFi Savings
Promo Rate: 4.30% for 6 months, then 3.60%.
Savings Breakdown
- Interest Earned+$394.90(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,394.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Ivy Bank vs. SoFi 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
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $425 vs $395/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1063 vs $988/yr).
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $30 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
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 4.25%, available to residents of California and U.S. Territories (excluding the District of Columbia), with a minimum deposit requirement of $2,500. In comparison, SoFi Bank's Savings Account provides a slightly higher APY of 4.30%, which includes a temporary 0.70% boost for the first six months, but this requires either direct deposit or a $10 monthly subscription fee. SoFi's account has no minimum deposit or balance requirements and is bundled with a checking account that yields 0.50%. Both accounts are online-only and have no maintenance fees.
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 Ivy Bank and SoFi Bank.
| Feature | Ivy Bank | SoFi Bank |
|---|---|---|
| APY | 4.25% Range: 0.05% - 4.25% Verified: 12/12/2025 - | 4.30% Range: 3.60% - 4.30% Verified: 12/12/2025 ↘︎ 0.20%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 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 |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ivy Bank | SoFi Bank |
|---|---|---|
| High-Yield Savings Account | SoFi Savings | |
Current APY | 4.25% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 |
Days Since Change | 28 | 28 |
1-Month High | 4.25% | 4.30% |
1-Month Low | 4.25% | 4.30% |
Adjustments / Mo | 0.00 | 0.00 |
Volatility Score | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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