Neighbors Bank vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Neighbors Bank vs. SoFi Bank
As of September 5, 2025 Neighbors Bank offers an APY of 4.60% for its Neighbors 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.
Neighbors Bank yields $80 more than SoFi Bank on a $10,000 balance after one year. Neighbors Bank pays $460, while SoFi Bank pays $380 - an APY advantage for Neighbors Bank.
Neighbors Bank
Strengths
- Neighbors Bank offers a higher APY of 4.60% compared to SoFi Bank's 3.80%.
- No direct deposit requirement for the Neighbors Savings Account, allowing easier access.
- Neighbors Bank has a physical branch location in Columbia, Missouri.
Potential Drawbacks
- Neighbors Bank has a lower App Store rating of 3.3 compared to SoFi Bank's 4.8.
- Only one branch location limits customer service accessibility.
- Not BBB Accredited, which may affect trust for some customers.
SoFi Bank
Strengths
- SoFi Bank has a higher App Store rating of 4.8, indicating better user satisfaction.
- SoFi Bank's savings account is bundled with a checking account, providing additional features.
- SoFi Bank has an A+ BBB rating, showing strong trustworthiness.
Potential Drawbacks
- SoFi Bank's APY of 3.80% is lower than Neighbors Bank's 4.60%.
- Requires either direct deposit or a $5,000 Qualifying Deposit to maintain the APY.
- SoFi Bank operates online only, lacking physical branch support.
Summary: Neighbors Bank offers a higher APY of 4.60% with no direct deposit requirement and a physical branch, while SoFi Bank provides a lower APY of 3.80% but has a higher App Store rating and an A+ BBB rating. SoFi's account requires direct deposit or a large deposit to achieve its APY, which may deter some customers. Overall, Neighbors Bank may appeal more to those seeking higher interest without conditions.
Compare Neighbors Bank's vs SoFi Bank's Savings Accounts
| Neighbors Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Neighbors Savings Account | vs | SoFi Savings |
| APY | 4.60% (as of 9/5/2025) | 3.80% (as of 9/5/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | N/A | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | |
| Eligibility | Not available in Delaware. | United States | |
| Note | Balances up to $250,000 earn 4.60% APY. Anything above will earn 0.05% APY. | 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 | 3.3/5 | 4.8/5 | |
| Google Play Rating | 4.3/5 | 4.4/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 6 Months)
| Neighbors Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Neighbors Savings Account | vs | SoFi Savings |
| Latest APY | 4.60 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -1.0 | -0.0 | |
| Rate Changes / Mo | 0.16 | 0.00 | |
| Days Since Last Change | 177 | 191 | |
| High (-6 m) | 4.75 % | 3.80 % | |
| Low (-6 m) | 4.60 % | 3.80 % | |
| Draw-down from High | -3.2 % | 0.0 % | |
| Volatility (CV) | 0.009 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 192 days.
- Low (-6 m)
- Lowest APY in the last 192 days.
- Draw-down from High
- How far today sits below the 6-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 Neighbors Bank vs SoFi Bank
All calculations are based on APY.
Neighbors Bank
APY: 4.60%
Total savings breakdown:
- Interest earned: $2,825.8 (13.57%)
- Total contributions: $13,000 (62.42%)
- Initial deposit: $5,000 (24.01%)
Your total balance
$20,825.80
Effective APY: 4.60% (based on your deposit and contributions)
Total balance: $20,825.8
Earnings: $2,825.8
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, Neighbors Bank's total earnings would be $519.9 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 Neighbors Bank's APY of 4.60% with other banks
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 GO2bank | 4.50% | $0 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $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 |