Sofi Bank vs. Valley Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 16, 2025
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Summary of SoFi Bank vs. Valley Direct
Key Metrics at a Glance
| Feature | SoFi Bank | Valley Direct |
|---|---|---|
| Top Savings APY | 4.30% SoFi Savings | 4.10% High-Yield Savings Account |
| Minimum to Open | $0 | $1,000 |
| Minimum Balance for Top APY | $0 | $0.01 |
| Note | Limited offer: you can earn a 0.70% APY boost for 6 months, making the total APY 4.30%. 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. | Promo. Eligibility restricted to new customers. |
SoFi Bank
Strengths
- SoFi Savings offers a higher APY at 4.30% compared to Valley Direct's 4.10%.
- SoFi Bank has no minimum deposit requirement for opening an account.
- SoFi Bank has a solid App Store rating of 4.8.
Potential Drawbacks
- SoFi's APY decreased from 4.50% in the last 30 days.
- SoFi Savings account requires a direct deposit or subscription for the highest APY.
- SoFi Bank has no physical branches.
Valley Direct
Strengths
- Valley Direct's APY remains stable at 4.10% over the past month.
- Valley Direct allows account servicing at multiple branch locations in NJ, NY, FL, and AL.
- Valley Direct has a higher Google Play rating of 4.5.
Potential Drawbacks
- Valley Direct requires a minimum deposit of $1,000 to open a High-Yield Savings Account.
- Valley Direct's APY is lower than SoFi Bank's current rate.
- Valley Direct has no direct deposit requirement, but that may limit promotional offers.
Summary: SoFi Bank offers a higher APY of 4.30% compared to Valley Direct's 4.10%, but SoFi's rate decreased recently. Valley Direct requires a $1,000 minimum deposit, while SoFi has no such requirement. Both banks have an A+ BBB rating, but Valley Direct has branch access in several states, unlike SoFi. Additionally, Valley Direct enjoys a better Google Play rating, while both banks have the same App Store rating.
→ As of November 16, 2025 SoFi Bank offers an APY of 4.30% for its SoFi Savings account, with a minimum balance of $0, compared to Valley Direct's 4.10% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
→ SoFi Bank yields $20 more than Valley Direct on a $10,000 balance after one year. SoFi Bank pays $430, while Valley Direct pays $410 - an APY advantage for SoFi Bank.
Calculate Savings Growth for SoFi Bank vs Valley Direct
All calculations are based on APY.
SoFi Bank - SoFi Savings
Top APY: 4.30%
Total savings breakdown:
- Interest earned: $2,629.4 (12.75%)
- Total contributions: $13,000 (63.02%)
- Initial deposit: $5,000 (24.24%)
Your total balance
$20,629.40
Effective APY: 4.30% (based on your deposit and contributions)
Total balance: $20,629.4
Earnings: $2,629.4
Bank OverviewValley Direct - High-Yield Savings Account
Top APY: 4.10%
Total savings breakdown:
- Interest earned: $2,499.4 (12.19%)
- Total contributions: $13,000 (63.42%)
- Initial deposit: $5,000 (24.39%)
Your total balance
$20,499.40
Effective APY: 4.10% (based on your deposit and contributions)
Total balance: $20,499.4
Earnings: $2,499.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, SoFi Bank's total earnings would be $130 higher than Valley Direct's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare SoFi Bank's vs Valley Direct's Savings Accounts
| SoFi Bank | Valley Direct | ||
|---|---|---|---|
| Product | SoFi Savings | vs | High-Yield Savings Account |
| APY | 4.30% (as of 11/16/2025) | 4.10% (as of 11/16/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $1,000 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | No | |
| Eligibility | United States | Only for new customers. Existing Valley Bank or Valley Direct customers may open a savings account with a somewhat lower rate. | |
| Note | Limited offer: you can earn a 0.70% APY boost for 6 months, making the total APY 4.30%. 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. | Promo. Eligibility restricted to new customers. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.0/5 | 4.5/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 10 Months)
| SoFi Bank | Valley Direct | ||
|---|---|---|---|
| Product | SoFi Savings | vs | High-Yield Savings Account |
| Latest APY | 4.30 % | 4.10 % | |
| Trend | Rising | Sideways | |
| Slope (bps/mo) | 7.4 | 1.7 | |
| Rate Changes / Mo | 0.30 | 0.70 | |
| Days Since Last Change | 4 | 51 | |
| High (-10 m) | 4.50 % | 4.40 % | |
| Low (-10 m) | 3.80 % | 3.75 % | |
| Draw-down from High | -4.4 % | -6.8 % | |
| Volatility (CV) | 0.075 | 0.045 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 298 days.
- Low (-10 m)
- Lowest APY in the last 298 days.
- Draw-down from High
- How far today sits below the 10-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.