Presidential Bank vs. Sofi Bank
High-Yield Savings Account Comparison
Last Updated: October 14, 2025
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Summary of Presidential Bank vs. SoFi Bank
Key Metrics at a Glance
| Feature | Presidential Bank | SoFi Bank |
|---|---|---|
| Top Savings APY | 4.50% Advantage Savings | 4.50% SoFi Savings |
| Minimum to Open | $5,000 | $0 |
| Minimum Balance for APY | N/A | $0 |
Presidential Bank
Strengths
- Presidential Bank offers a high APY of 4.50% on the Advantage Savings account.
- Presidential Bank has 10 branches located in Maryland, Virginia, and Washington D.C.
- Presidential Bank's App Store rating is 4.8.
Potential Drawbacks
- To earn the higher APY, a monthly direct deposit of $500 into an Advantage Checking Account is required.
- Presidential Bank is not BBB Accredited, with a rating of A-.
SoFi Bank
Strengths
- SoFi Bank has a higher BBB rating of A+.
- SoFi Bank does not require a direct deposit to open a savings account.
- SoFi Bank's App Store rating is also 4.8.
Potential Drawbacks
- SoFi Bank has no physical branches, operating online only.
- Without direct deposit or qualifying deposits, the APY will be significantly lower.
Summary: Both banks offer a competitive APY of 4.50% on their savings accounts. Presidential Bank requires a monthly direct deposit to earn this rate, while SoFi Bank does not, but it has no physical branches. Presidential Bank has a lower BBB rating of A- and is not accredited, whereas SoFi Bank boasts an A+ rating. Both banks have the same App Store rating of 4.8.
→ As of 10/14/2025 both Presidential Bank (Advantage Savings) and SoFi Bank (SoFi Savings) offer an APY of 4.50% .
→ Both banks yield $450 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.
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: 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 OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Presidential Bank's total earnings would be the same as SoFi Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
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 10/14/2025) | 4.50% (as of 10/14/2025) | |
| 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 | Limited offer: you can earn a 0.70% APY boost for 6 months, making the total APY 4.50%. This requires either 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.2/5 | |
| BBB Rating | A- | A+ |
Comparative Historical APY Insights (Last 9 Months)
| Presidential Bank | SoFi Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | SoFi Savings |
| Latest APY | 4.50 % | 4.50 % | |
| Trend | Sideways | Rising | |
| Slope (bps/mo) | 0.0 | 5.0 | |
| Rate Changes / Mo | 0.00 | 0.23 | |
| Days Since Last Change | 266 | 34 | |
| High (-9 m) | 4.50 % | 4.50 % | |
| Low (-9 m) | 4.50 % | 3.80 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.060 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 266 days.
- Low (-9 m)
- Lowest APY in the last 266 days.
- Draw-down from High
- How far today sits below the 9-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.
More Comparisons
Compare Presidential Bank's APY of 4.50% with other banks
Compare SoFi Bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| SoFi Bank vs Ally Bank | 3.40% | $0 |
| SoFi Bank vs American Express | 3.50% | $0 |
| SoFi Bank vs Axos Bank | 4.51% | $0 |
| SoFi Bank vs Bank of America | 0.01% | $100 |
| SoFi Bank vs Barclays | 4.10% | $0 |
| SoFi Bank vs BrioDirect | 4.20% | $5,000 |
| SoFi Bank vs Capital One | 3.40% | $0 |
| SoFi Bank vs Chase Bank | 0.01% | $0 |
| SoFi Bank vs Chime | 3.75% | $0 |
| SoFi Bank vs CIT Bank | 3.85% | $100 |
| SoFi Bank vs Discover Bank | 3.40% | $0 |
| SoFi Bank vs Elevault | 4.34% | $0 |
| SoFi Bank vs EverBank | 4.05% | $0 |
| SoFi Bank vs Fitness Bank | 4.75% | $100 |
| SoFi Bank vs FVCbank | 4.10% | $500 |
| SoFi Bank vs GO2bank | 4.50% | $0 |
| SoFi Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| SoFi Bank vs Neighbors Bank | 4.50% | $0 |
| SoFi Bank vs Newtek Bank | 4.35% | $0 |
| SoFi Bank vs Peak Bank | 4.20% | $100 |
| SoFi Bank vs Pibank | 4.60% | $0 |
| SoFi Bank vs Santander Bank | 0.01% | $25 |
| SoFi Bank vs Synchrony Bank | 3.80% | $0 |
| SoFi Bank vs TIMBR | 4.40% | $1,000 |
| SoFi Bank vs UFB Direct | 3.96% | $5000 |
| SoFi Bank vs Varo Bank | 5.00% | $0 |
| SoFi Bank vs Wells Fargo | 0.05% | $25 |
| SoFi Bank vs Zynlo Bank | 4.20% | $10 |