Presidential Bank vs Sofi Bank
High-Yield Savings Accounts Comparison

Last Updated: August 29, 2025

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Summary of Presidential Bank vs. SoFi Bank

As of August 29, 2025 Presidential Bank offers an APY of 4.50% for its Advantage Savings account, compared to SoFi Bank's 3.80% APY for its SoFi Savings account.

Presidential Bank yields $70 more than SoFi Bank on a $10,000 balance after one year. Presidential Bank pays $450, while SoFi Bank pays $380 - an APY advantage for Presidential Bank.

Presidential Bank

Strengths

  • Presidential Bank offers a higher APY of 4.50% compared to SoFi Bank's 3.80%.
  • Presidential Bank has 10 branches in Maryland, Virginia, and Washington D.C.
  • Presidential Bank's App Store rating is 4.8, equal to SoFi Bank's.

Potential Drawbacks

  • To earn the higher APY, a monthly direct deposit of $500 is required.
  • Presidential Bank's BBB rating is A- and not accredited.

SoFi Bank

Strengths

  • SoFi Bank has a higher Google Play rating of 4.4 compared to Presidential Bank's 4.2.
  • No direct deposit requirement to open a SoFi Savings account.

Potential Drawbacks

  • SoFi Bank's APY of 3.80% is lower than Presidential Bank's 4.50%.
  • SoFi Bank has no physical branches.
Summary: Presidential Bank provides a higher APY of 4.50% with a direct deposit requirement, while SoFi Bank offers a lower APY of 3.80% without such a requirement. Presidential Bank has physical branches, whereas SoFi Bank operates online-only. Additionally, SoFi Bank has a slightly better Google Play rating, but its BBB rating is higher for trustworthiness.

Compare Presidential Bank's vs SoFi Bank's Savings Accounts

Presidential BankSoFi Bank
ProductAdvantage SavingsvsSoFi Savings
APY
4.00% - 4.50% (as of 8/29/2025)3.80% (as of 8/29/2025)
Bundled Account
YesYes
FDIC-insured
YesYes
Online OnlyNoYes
Compound Frequency
MonthlyDaily
Minimum Deposit$5,000$0
Minimum Balance for APYN/A$0
Maintenance Fee$0$0
Direct Deposit Required
Yes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower
NoteThe 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 Rating4.8/54.8/5
Google Play Rating4.2/54.4/5
BBB RatingA-A+

Comparative Historical APY Insights (Last 7 Months)

Presidential BankSoFi Bank
ProductAdvantage SavingsvsSoFi Savings
Latest APY4.50 %3.80 %
TrendSidewaysSideways
Slope (bps/mo)0.0-0.1
Rate Changes / Mo0.000.14
Days Since Last Change219218
High (-7 m)4.50 %4.00 %
Low (-7 m)4.50 %3.80 %
Draw-down from High0.0 %-5.0 %
Volatility (CV)0.0000.004
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 7 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 (-7 m)
Highest APY in the last 220 days.
Low (-7 m)
Lowest APY in the last 220 days.
Draw-down from High
How far today sits below the 7-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 Presidential Bank vs SoFi Bank

All calculations are based on APY.

Presidential Bank

APY: 4.50%

Total savings breakdown:

  • Interest earned: $2,760.1 (13.30%)
  • Total contributions: $13,000 (62.62%)
  • Initial deposit: $5,000 (24.08%)

Your total balance

$20,760.10

Effective APY: 4.50% (based on your deposit and contributions)

Total balance: $20,760.1

Earnings: $2,760.1

Bank Overview

SoFi 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 Overview

With a $5,000 initial deposit and $13,000 in total contributions over 5 years, Presidential Bank's total earnings would be $454.2 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 Presidential Bank's APY of 4.50% with other banks
Compare SoFi Bank's APY of 3.80% with other banks