Neighbors Bank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Neighbors BankNeighbors Savings Account Jan 21, 2026 | SoFi BankSoFi Savings Jan 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 Access | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking Bundle |
Comparison Analysis
Comparing Neighbors Bank vs. SoFi Bank
As of Neighbors Bank offers an APY of 4.20% for its Neighbors Savings Account, with a minimum balance of $0, compared to SoFi Bank's 4.00% APY for its SoFi Savings account, with a minimum balance of $0.
Neighbors Bank pays $55 more than SoFi Bank on a $10,000 balance after one year. Neighbors Bank pays $420, while SoFi Bank pays $365 (with an effective APY of 3.65%) - an APY advantage for Neighbors Bank.
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 (4.8 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.
Executive Summary as of
Neighbors Bank offers a competitive Neighbors Savings Account with an APY of 4.20% for balances up to $250,000, while SoFi Bank's SoFi Savings account provides a slightly lower APY of 4.00%, which includes a temporary boost. Notably, Neighbors Bank's account does not require direct deposit, while SoFi's account can incur a $10/month subscription fee if direct deposit is not utilized. Both accounts have no minimum deposit or maintenance fees, making them accessible options. However, Neighbors Bank's higher APY positions it as the more attractive choice for savers.
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
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.
| Feature | Neighbors Bank | SoFi Bank |
|---|---|---|
| APY | 4.20% Verified: 1/21/2026 ↘︎ 0.30%90d Change | 4.00% Range: 3.30% - 4.00% Verified: 1/21/2026 ↘︎ 0.50%90d Change |
| Product Name | Neighbors Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | 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 | iOS3.3 Android4.4 | iOS4.8 Android3.9 |
| 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) | -3.0 | 5.7 |
Days Since Change | 6 | 29 |
11-Month High | 4.75% | 4.50% |
11-Month Low | 4.20% | 3.80% |
Adjustments / Mo | 0.36 | 0.27 |
Volatility Score | 0.027 | 0.071 |
How to read these metrics(Click to expand)
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