Neighbors Bank vs. SoFi Bank
Comparing Neighbors Bank and SoFi Bank for high-yield savings: Neighbors Bank's Neighbors Savings Account pays 4.20% APY while SoFi Bank's SoFi Savings pays 4.00% APY (including a 6-month 0.70% promo boost).
Note: Neighbors Bank caps its top rate at $250,000, while SoFi Bank requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Neighbors Bank pays $55 more than SoFi Bank annually ($420 vs $365).
Choose Neighbors Bank if getting the best rate matters most, you want to avoid a promo rate with a scheduled drop, or you value in-person banking. Choose SoFi Bank if you want Zelle for quick transfers.
Important Considerations
The key difference? SoFi Bank's 4.00% rate includes a promotional bonus for the first 6 months, after which it reverts to the standard rate (currently 3.30%). Neighbors Bank's 4.20% rate has no scheduled drop, though all rates are subject to change.
SoFi Bank requires a checking account to unlock its top savings rate, while Neighbors Bank offers its savings account standalone.
| Metric | Neighbors BankNeighbors Savings Account Apr 21, 2026 | SoFi BankSoFi Savings Apr 21, 2026 |
|---|---|---|
| APY | 4.20% | 3.30% - 4.00% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. | 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 InsuredNo MinimumsGreat Android AppIn-Person AccessRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Neighbors Bank vs. SoFi Bank
Executive Summary
Neighbors Bank offers a competitive Neighbors Savings Account with a high APY of 4.20%, applicable to balances up to $250,000, making it an attractive option for savers. In contrast, SoFi Bank's SoFi Savings provides a slightly lower APY of 4.00%, which includes a temporary boost for six months, but requires either a direct deposit or a subscription fee of $10/month to maintain that rate. Both accounts have no minimum deposit or maintenance fees, but Neighbors Bank's offering stands out as the winner based on the higher APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Neighbors Bank?
- ✓Higher potential APY (4.20% vs 4.00%) on all balances
- ✓No checking account or direct deposit required
- ✓Physical branch access (One location in Columbia, Missouri)
- ✓Higher rated Android app (4.4 vs 3.9)
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 rated iOS app (4.7 vs 3.3)
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
Neighbors BankNeighbors Bank's Neighbors Savings Account earns more on smaller deposits (approx. $420 vs $365/yr).
Better Returns at $25,000
Neighbors BankNeighbors Bank's Neighbors Savings Account pulls ahead with larger amounts (approx. $1050 vs $913/yr).
Shared Benefits
Over a 1-year period, Neighbors Bank's Neighbors Savings Account pays $55 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Neighbors Bank's standard rate still yields a higher 1-year return.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Neighbors Bank vs. SoFi Bank Savings Calculator
You earn $55.1 more with Neighbors 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.
Neighbors Bank
Neighbors Savings Account
4.20% on first $250,000 and 0.05% thereafter.
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
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.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $364 per year in interest.
Both Neighbors Bank and SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Neighbors Bank | SoFi Bank |
|---|---|---|
| APY | 4.20% Verified: 4/21/2026 Stable (90d) | 4.00% Range: 3.30% - 4.00% Verified: 4/21/2026 Stable (90d) |
| Product Name | Neighbors Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | N/A | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | One location in Columbia, Missouri | N/A |
| 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 | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | A+ |
| Important Notes | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. | 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 Neighbors 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 | Neighbors Bank | SoFi Bank |
|---|---|---|
| Neighbors Savings Account | SoFi Savings | |
Current APY | 4.20% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.6 | 2.0 |
Days Since Change | 96 | 119 |
12-Month High | 4.60% | 4.50% |
12-Month Low | 4.20% | 3.80% |
Adjustments / Mo | 0.25 | 0.25 |
Volatility Score | 0.039 | 0.061 |
How to read these metrics(Click to expand)
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Compare Neighbors Bank's APY of 4.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Neighbors Bank vs Ally Bank | 3.10% | $0 |
| Neighbors Bank vs American Express | 3.20% | $0 |
| Neighbors Bank vs Axos Bank | 4.21% | $0 |
| Neighbors Bank vs Barclays | 3.75% | $0 |
| Neighbors Bank vs Capital One | 3.20% | $0 |
| Neighbors Bank vs Chime | 3.00% | $0 |
| Neighbors Bank vs CIT Bank | 3.75% | $100 |
| Neighbors Bank vs Discover Bank | 3.30% | $0 |
| Neighbors Bank vs EverBank | 3.90% | $0 |
| Neighbors Bank vs Marcus by Goldman Sachs | 3.50% | $0 |
| Neighbors Bank vs Newtek Bank | 4.20% | $0.01 |
| Neighbors Bank vs Openbank | 4.00% | $500 |
| Neighbors Bank vs Pibank | 4.40% | $0 |
| Neighbors Bank vs Synchrony Bank | 3.40% | $0 |
| Neighbors Bank vs Varo Bank | 5.00% | $0 |
| Neighbors Bank vs Wealthfront | 4.20% | $0 |