SoFi Bank vs. Valley Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | SoFi BankSoFi Savings Jan 21, 2026 | Valley DirectHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 3.30% - 4.00% | 3.40% - 4.00% |
Est. Earnings | $5,000+$183 $10,000+$365 $25,000+$913 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
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. | Promo rate for new customers. 3.40% APY applies to existing customers. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking Bundle | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing SoFi Bank vs. Valley Direct
As of SoFi Bank offers an APY of 4.00% for its SoFi Savings account, with a minimum balance of $0, compared to Valley Direct's 4.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Valley Direct pays $35 more than SoFi Bank on a $10,000 balance after one year. SoFi Bank pays $365 (with an effective APY of 3.65%), while Valley Direct pays $400 - an APY advantage for Valley Direct.
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
- ✓Available to New & Existing Customers
Why Valley Direct?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 3.9)
— Key Feature Differences —
Better Returns at $10,000
Valley DirectValley Direct's High-Yield Savings Account earns more on smaller deposits (approx. $400 vs $365/yr).
Better Returns at $25,000
Valley DirectValley Direct's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $913/yr).
Best for Simplicity
Valley DirectValley Direct's High-Yield Savings Account offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period (factoring in a 12-month promo), Valley Direct's High-Yield Savings Account pays $35 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*Both calculations include their respective introductory promotional rates and subsequent standard rates.
Executive Summary as of
SoFi Bank and Valley Direct both offer competitive savings accounts with a 4.00% APY. However, SoFi's savings account is bundled with a checking account that yields 0.50% APY and requires a $10/month subscription if direct deposit is not utilized. In contrast, Valley Direct's High-Yield Savings Account is available to new customers with no direct deposit requirement, making it a simpler option. Valley Direct also allows for a minimum deposit of $1,000 and is not limited to online access. Overall, while both banks provide similar rates, Valley Direct's account may appeal more to those seeking straightforward terms.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
SoFi Bank vs. Valley Direct Savings Calculator
You earn $35.1 more with Valley Direct 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
Valley Direct
High-Yield Savings Account
Promo Rate: 4.00% for 12 months, then 3.40%.
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | SoFi Bank | Valley Direct |
|---|---|---|
| APY | 4.00% Range: 3.30% - 4.00% Verified: 1/21/2026 ↘︎ 0.50%90d Change | 4.00% Range: 3.40% - 4.00% Verified: 1/21/2026 ↘︎ 0.10%90d Change |
| Product Name | SoFi Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $1,000 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| 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 | iOS4.8 Android3.9 | iOS4.8 Android4.6 |
| Zelle® Support | Available Native support added in 2024 for banking members. | Available Allows Zelle directly on HYSA. |
| 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. | Promo rate for new customers. 3.40% APY applies to existing customers. |
| Next Steps | Visit SiteVerify at SoFi Bank Non-sponsored link to official site | Visit SiteVerify at Valley Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | SoFi Bank | Valley Direct |
|---|---|---|
| SoFi Savings | High-Yield Savings Account | |
Current APY | 4.00% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | 5.2 | -0.3 |
Days Since Change | 29 | 40 |
12-Month High | 4.50% | 4.40% |
12-Month Low | 3.80% | 3.75% |
Adjustments / Mo | 0.33 | 0.66 |
Volatility Score | 0.070 | 0.043 |
How to read these metrics(Click to expand)
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