Sofi Bank vs. Valley Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 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 | 4.50% SoFi Savings | 4.10% High-Yield Savings Account |
| Minimum to Open | $0 | $1000 |
| 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 4.50%. 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. | Promo. Eligibility restricted to new customers. |
SoFi Bank
Strengths
- SoFi Bank offers a higher APY of 4.50% compared to Valley Direct's 4.10%.
- SoFi Bank has no minimum deposit requirement for opening an account.
- SoFi Bank has an App Store rating of 4.8.
Potential Drawbacks
- SoFi Bank's APY requires direct deposit or a subscription for the higher rate.
- SoFi Bank has no physical branches for in-person service.
Valley Direct
Strengths
- Valley Direct has physical branches in NJ, NY, FL, and AL for customer service.
- Valley Direct has a Google Play rating of 4.5.
Potential Drawbacks
- Valley Direct's APY decreased from 4.30% to 4.10% in the last 30 days.
- Valley Direct requires a minimum deposit of $1,000 to open an account.
→ As of October 16, 2025 SoFi Bank offers an APY of 4.50% 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 $40 more than Valley Direct on a $10,000 balance after one year. SoFi Bank pays $450, while Valley Direct pays $410 - an APY advantage for SoFi Bank.
Calculate Savings Growth for SoFi Bank vs Valley Direct
SoFi Bank
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
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewValley Direct
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
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 $260.7 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 | 4.50% (as of 10/16/2025) | 4.10% (as of 10/16/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $1000 | |
| 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 4.50%. 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. | Promo. Eligibility restricted to new customers. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.5/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 9 Months)
| SoFi Bank | Valley Direct | ||
|---|---|---|---|
| Product | SoFi Savings | vs | High-Yield Savings Account |
| Latest APY | 4.50 % | 4.10 % | |
| Trend | Rising | Sideways | |
| Slope (bps/mo) | 5.4 | 3.5 | |
| Rate Changes / Mo | 0.22 | 0.79 | |
| Days Since Last Change | 35 | 20 | |
| High (-9 m) | 4.50 % | 4.40 % | |
| Low (-9 m) | 3.80 % | 3.75 % | |
| Draw-down from High | 0.0 % | -6.8 % | |
| Volatility (CV) | 0.061 | 0.048 |
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 267 days.
- Low (-9 m)
- Lowest APY in the last 267 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.