Presidential Bank vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: August 8, 2025
We earn a commission if you open an account through some links on this page.
Summary of Presidential Bank vs. SoFi Bank
As of August 8, 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 has a solid App Store rating of 4.8.
Potential Drawbacks
- Presidential Bank has a BBB rating of B- and is not BBB Accredited.
- To earn the higher APY, a monthly direct deposit of $500 is required.
- Presidential Bank's Google Play rating is lower at 4.2.
SoFi Bank
Strengths
- SoFi Bank has an excellent BBB rating of A+.
- SoFi Bank has a higher Google Play rating of 4.4.
- SoFi Bank requires no minimum deposit or balance for its savings account.
Potential Drawbacks
- SoFi Bank's APY is lower at 3.80% compared to Presidential Bank's 4.50%.
- SoFi Bank operates online-only and has no physical branches.
- To earn the advertised APY, a direct deposit or Qualifying Deposit is necessary.
Summary: Presidential Bank offers a higher APY of 4.50% and has physical branches, but requires direct deposits for the best rate and has a lower BBB rating of B-. In contrast, SoFi Bank has an A+ BBB rating and no minimums, but its APY is lower at 3.80% and operates without branches, requiring direct deposits or qualifying deposits to achieve its advertised rate.
Compare Presidential Bank's vs SoFi Bank's Savings Accounts
| Presidential Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | SoFi Savings |
| APY | 4.00% - 4.50% (as of 8/8/2025) | 3.80% (as of 8/8/2025) | |
| Bundled Account | Yes | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $5,000 | $0 | |
| Minimum Balance for APY | N/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 | |
| Note | 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 | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.4/5 | |
| BBB Rating | B- | A+ |
Comparative Historical APY Insights (Last 7 Months)
| Presidential Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | SoFi Savings |
| Latest APY | 4.50 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -0.3 | |
| Rate Changes / Mo | 0.00 | 0.15 | |
| Days Since Last Change | 201 | 198 | |
| High (-7 m) | 4.50 % | 4.00 % | |
| Low (-7 m) | 4.50 % | 3.80 % | |
| Draw-down from High | 0.0 % | -5.0 % | |
| Volatility (CV) | 0.000 | 0.006 |
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 201 days.
- Low (-7 m)
- Lowest APY in the last 201 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 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, 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
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Presidential Bank vs Ally Bank | 3.50% | $0 |
| Presidential Bank vs American Express | 3.50% | $0 |
| Presidential Bank vs Axos Bank | 4.46% | $0 |
| Presidential Bank vs Bank of America | 0.01% | $100 |
| Presidential Bank vs Barclays | 4.10% | $0 |
| Presidential Bank vs Capital One | 3.50% | $0 |
| Presidential Bank vs Chase Bank | 0.01% | $0 |
| Presidential Bank vs Chime | 3.75% | $0 |
| Presidential Bank vs CIT Bank | 4.00% | $100 |
| Presidential Bank vs Discover Bank | 3.50% | $0 |
| Presidential Bank vs Fitness Bank | 4.85% | $100 |
| Presidential Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Presidential Bank vs Synchrony Bank | 3.80% | $0 |
| Presidential Bank vs UFB Direct | 4.21% | $5000 |
| Presidential Bank vs Varo Bank | 5.00% | $0 |
| Presidential Bank vs Wells Fargo | 2.51% | $25 |
Compare SoFi Bank's APY of 3.80% with other banks
| Bank Pair | Best 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 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 Fitness Bank | 4.85% | $100 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs UFB Direct | 4.21% | $5000 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 2.51% | $25 |