SoFi Bank vs. TIMBR
Comparing SoFi Bank and TIMBR for high-yield savings: SoFi Bank's SoFi Savings pays 4.00% APY (including a 6-month 0.70% promo boost) while TIMBR's Premium Savings Account pays 4.15% APY.
Note: SoFi Bank requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? TIMBR pays $50 more than SoFi Bank annually ($415 vs $365).
Choose SoFi Bank if you're an iPhone user (no iOS app for TIMBR), you're an Android user (no Android app for TIMBR), or you want Zelle for quick transfers. Choose TIMBR if getting the best rate matters most, you want a no-strings-attached account, or you want to avoid a promo rate with a scheduled drop.
Important Considerations
The key difference? SoFi Bank's 4.00% rate includes a promotional bonus for the first 6 months, after which it reverts to the standard rate (currently 3.30%). TIMBR's 4.15% rate has no scheduled drop, though all rates are subject to change.
SoFi Bank requires a checking account to unlock its top savings rate, while TIMBR offers its savings account standalone.
| Metric | SoFi BankSoFi Savings Mar 7, 2026 | TIMBRPremium Savings Account Mar 7, 2026 |
|---|---|---|
| APY | 3.30% - 4.00% | 4.15% |
Est. Earnings | $5,000+$183 $10,000+$365 $25,000+$913 | $5,000+$208 $10,000+$415 $25,000+$1,038 |
Min Deposit | $0 | $1,000 |
Snapshot view. Rates subject to change. | ||
Terms | Limited offer: The 4.00% 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. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsDaily CompoundingStable Rate |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Executive Summary
TIMBR offers a competitive Premium Savings Account with an APY of 4.15%, making it the winner in this comparison. This account is online-only and requires a minimum deposit of $1,000, but it has no maintenance fees or direct deposit requirements, providing a straightforward savings option. In contrast, SoFi Bank's SoFi Savings account offers a 4.00% APY, which includes a temporary boost and is bundled with a checking account that yields 0.50%. However, it also imposes a subscription fee of $10/month if direct deposit is not utilized. Overall, TIMBR stands out for its higher rate and simplicity.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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 rated iOS app (4.7 vs 0.0)
- ✓Fast transfers via Zelle®
Why TIMBR?
- ✓Higher potential APY (4.15% vs 4.00%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
TIMBRTIMBR's Premium Savings Account earns more on smaller deposits (approx. $415 vs $365/yr).
Better Returns at $25,000
TIMBRTIMBR's Premium Savings Account pulls ahead with larger amounts (approx. $1038 vs $913/yr).
Best for Simplicity
TIMBRTIMBR's Premium Savings Account offers 4.15% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, TIMBR's Premium Savings Account pays $50 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet TIMBR's standard rate still yields a higher 1-year return.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
SoFi Bank vs. TIMBR Savings Calculator
You earn $50.1 more with TIMBR than SoFi Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$364.90(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,364.90
TIMBR
Premium Savings Account
Savings Breakdown
- Interest Earned+$415.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,415.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $364 per year in interest.
Both SoFi Bank and TIMBR dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | SoFi Bank | TIMBR |
|---|---|---|
| APY | 4.00% Range: 3.30% - 4.00% Verified: 3/7/2026 ↘︎ 0.30%90d Change | 4.15% Verified: 3/7/2026 ↘︎ 0.25%90d Change |
| Product Name | SoFi Savings | Premium Savings Account |
| Minimum Deposit | $0 | $1,000 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | N/A |
| Direct Deposit Req. | While direct deposit is not required, the alternative is a subscription fee of $10/month | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS- Android- | |
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Native support added in 2024 for banking members. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | Limited offer: The 4.00% 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 | Visit SiteVerify at SoFi Bank Non-sponsored link to official site | Visit SiteVerify at TIMBR Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | SoFi Bank | TIMBR |
|---|---|---|
| SoFi Savings | Premium Savings Account | |
Current APY | 4.00% | 4.15% |
Trend | Stable | Stable |
Velocity (bps/mo) | 3.7 | -2.4 |
Days Since Change | 74 | 58 |
12-Month High | 4.50% | 4.55% |
12-Month Low | 3.80% | 4.15% |
Adjustments / Mo | 0.25 | 0.16 |
Volatility Score | 0.066 | 0.026 |
How to read these metrics(Click to expand)
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Compare SoFi Bank's APY of 4.00% with other banks
Compare TIMBR's APY of 4.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| TIMBR vs Ally Bank | 3.20% | $0 |
| TIMBR vs American Express | 3.30% | $0 |
| TIMBR vs Axos Bank | 4.21% | $0 |
| TIMBR vs Bank of America | 0.01% | $100 |
| TIMBR vs Barclays | 3.85% | $0 |
| TIMBR vs Capital One | 3.30% | $0 |
| TIMBR vs Chase Bank | 0.01% | $0 |
| TIMBR vs Chime | 3.00% | $0 |
| TIMBR vs CIT Bank | 3.75% | $100 |
| TIMBR vs Citibank | 3.20% | $0 |
| TIMBR vs Discover Bank | 3.30% | $0 |
| TIMBR vs EverBank | 3.90% | $0 |
| TIMBR vs Marcus by Goldman Sachs | 3.65% | $0 |
| TIMBR vs Newtek Bank | 4.20% | $0.01 |
| TIMBR vs Openbank | 4.09% | $500 |
| TIMBR vs Pibank | 4.60% | $0 |
| TIMBR vs Synchrony Bank | 3.50% | $0 |
| TIMBR vs Varo Bank | 5.00% | $0 |
| TIMBR vs Wealthfront | 4.20% | $0 |
| TIMBR vs Wells Fargo | 0.05% | $25 |