Presidential Bank vs Sofi Bank
High-Yield Savings Accounts Comparison
Last Updated: July 16, 2025
Summary of Presidential Bank vs. SoFi Bank
As of July 16, 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 physical branches in Maryland, Virginia, and Washington D.C.
- Presidential Bank's App Store rating is 4.8, equal to SoFi Bank.
Potential Drawbacks
- Presidential Bank has a lower BBB rating of B- and is not BBB Accredited.
- To earn the higher APY, a direct deposit of $500 is required into an Advantage Checking Account.
- Presidential Bank's Google Play rating is lower at 4.2 compared to SoFi Bank's 4.5.
SoFi Bank
Strengths
- SoFi Bank has an excellent BBB rating of A+.
- SoFi Bank does not require a direct deposit to open an account.
- SoFi Bank's Google Play rating is 4.5, higher than Presidential Bank's 4.2.
Potential Drawbacks
- SoFi Bank's current APY of 3.80% is lower than Presidential Bank's 4.50%.
- SoFi Bank has no physical branches as it operates online only.
- SoFi Bank requires a direct deposit or Qualifying Deposit of $5,000 for higher APY.
Summary: Presidential Bank offers a higher APY of 4.50% and has physical branches, but requires a direct deposit for that rate and has a lower BBB rating. SoFi Bank, with an A+ BBB rating and no direct deposit requirement for account opening, offers a lower APY of 3.80% and operates entirely online, lacking physical branches.
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 7/16/2025) | 3.80% (as of 7/15/2025) | |
| 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 | N/A | 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. | |
| Visit Bank | Advantage Savings | SoFi Savings | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.5/5 | |
| BBB Rating | B- | A+ |
Comparative Historical APY Insights (Last 6 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 | 0.17 | |
| Days Since Last Change | 175 | 173 | |
| High (-6 m) | 4.50 % | 4.00 % | |
| Low (-6 m) | 4.50 % | 3.80 % | |
| Draw-down from High | 0.0 % | -5.0 % | |
| Volatility (CV) | 0.000 | 0.007 |
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 175 days.
- Low (-6 m)
- Lowest APY in the last 175 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 Presidential Bank vs SoFi Bank
All calculations are based on APY.
Presidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $45 (4.31%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.69%)
Your total balance
$1,045.00
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $1,045
Earnings: $45
Bank DetailsSoFi Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $38 (3.66%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.34%)
Your total balance
$1,038.00
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $1,038
Earnings: $38
Bank DetailsAfter 1 year Presidential Bank would earn you $7 more than SoFi Bank.
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 | 3.60% | $0 |
| Presidential Bank vs Axos Bank | 4.66% | $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 | 5.00% | $100 |
| Presidential Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Presidential Bank vs Synchrony Bank | 3.80% | $0 |
| 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 | 3.60% | $0 |
| SoFi Bank vs Axos Bank | 4.66% | $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 | 5.00% | $100 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 2.51% | $25 |