Santander Bank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Santander Bank
Santander Savings
0.01%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Santander Bank
Santander Savings
SoFi Bank
SoFi Savings
Up to4.30%APYDec 6, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 3.60% – 4.30%Show Fine Print & Trends Hide Details
SoFi Bank
SoFi Savings
Comparison Analysis
Comparing Santander Bank vs. SoFi Bank
Why Santander Bank?
- ✓No checking account or direct deposit required
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
- ✓Higher potential APY (4.30% vs 0.01%) on all balances
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $430 vs $1/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $1075 vs $3/yr).
Best for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, SoFi Bank's SoFi Savings pays $429 more interest on a $10,000 balance than Santander Bank's Santander Savings.
Executive Summary
SoFi Bank offers a competitive APY of 4.30% on its SoFi Savings account, which is an online-only product requiring no minimum deposit or maintenance fees, although a $10/month subscription fee applies if direct deposit is not utilized. This account also includes a checking account with a 0.50% APY, enhancing its value for customers seeking an all-in-one banking solution. In contrast, Santander Bank's Santander Savings account provides a significantly lower APY of 0.01%, with a minimum deposit of $25 and a $1 monthly maintenance fee. Therefore, for higher returns, SoFi Bank is the clear winner.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Santander Bank and SoFi Bank.
| Feature | Santander Bank | SoFi Bank |
|---|---|---|
| APY | 0.01% Verified: 12/6/2025 ↘︎ 0.02%90d Change | 4.30% Range: 3.60% - 4.30% Verified: 12/6/2025 ↗︎ 0.50%90d Change |
| Product Name | Santander Savings | SoFi Savings |
| Minimum Deposit | $25 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $1 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.8 Android4.0 | iOS4.8 Android4.0 |
| BBB Rating | Not Rated | A+ |
| Important Notes | - | Limited offer: The 4.30% includes a temporary 0.70% APY boost for 6 months. It is available with 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 with a 0.50% APY. |
| Next Steps |
Savings Comparison
SoFi Bank earns $2,623.7 more than Santander Bank.
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$2,629.40(12.7%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,629.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Santander Bank | SoFi Bank |
|---|---|---|
| Santander Savings | SoFi Savings | |
Current APY | 0.01% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.2 | 7.2 |
Days Since Change | 78 | 24 |
10-Month High | 0.03% | 4.50% |
10-Month Low | 0.01% | 3.80% |
Adjustments / Mo | 0.09 | 0.28 |
Volatility Score | 0.375 | 0.075 |
How to read these metrics(Click to expand)
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