Sofi Bank vs. Wealthfront
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of SoFi Bank vs. Wealthfront
Key Metrics at a Glance
| Feature | SoFi Bank | Wealthfront |
|---|---|---|
| Top Savings APY | 4.30% SoFi Savings | 4.15% Cash Account |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0 |
| 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. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 4.15% for 3 months, after which the 3.50% APY applies. See terms at Wealthfront. |
SoFi Bank
Strengths
- SoFi Bank offers a higher APY of 4.30% compared to Wealthfront's 4.15%.
- SoFi Bank has an A+ BBB rating, indicating better trustworthiness than Wealthfront's F rating.
- SoFi Bank's app has a higher Google Play rating of 4.1 versus Wealthfront's 4.9.
Potential Drawbacks
- SoFi Bank's APY decreased from 4.50% to 4.30% in the last 30 days.
- SoFi Bank requires direct deposit or a subscription for the highest APY boost.
- SoFi Bank has no physical branches, limiting in-person access.
Wealthfront
Strengths
- Wealthfront's Cash Account has a competitive APY of 4.15% for the first three months.
- Wealthfront's app has a higher Google Play rating of 4.9 compared to SoFi Bank's 4.1.
- No direct deposit requirement for Wealthfront's account.
Potential Drawbacks
- Wealthfront has a lower long-term APY of 3.50% after the initial period.
- Wealthfront has an F BBB rating and is not accredited, raising trust concerns.
- Wealthfront has no physical branches, limiting in-person access.
→ As of November 12, 2025 SoFi Bank offers an APY of 4.30% for its SoFi Savings account, with a minimum balance of $0, compared to Wealthfront's 4.15% APY for its Cash Account, with a minimum balance of $0.
→ SoFi Bank yields $15 more than Wealthfront on a $10,000 balance after one year. SoFi Bank pays $430, while Wealthfront pays $415 - an APY advantage for SoFi Bank.
Calculate Savings Growth for SoFi Bank vs Wealthfront
SoFi Bank - SoFi Savings
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
Total balance: $20,629.4
Earnings: $2,629.4
Bank OverviewWealthfront - Cash Account
Total savings breakdown:
- Interest earned: $2,531.8 (12.33%)
- Total contributions: $13,000 (63.32%)
- Initial deposit: $5,000 (24.35%)
Your total balance
$20,531.80
Total balance: $20,531.8
Earnings: $2,531.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, SoFi Bank's total earnings would be $97.6 higher than Wealthfront's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare SoFi Bank's vs Wealthfront's Savings Accounts
| SoFi Bank | Wealthfront | ||
|---|---|---|---|
| Product | SoFi Savings | vs | Cash Account |
| APY | 4.30% (as of 11/12/2025) | 3.50% - 4.15% (as of 11/12/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No. Without direct deposit or "Qualifying Deposits" the APY will be significantly lower | No | |
| 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. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 4.15% for 3 months, after which the 3.50% APY applies. See terms at Wealthfront. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.1/5 | 4.9/5 | |
| BBB Rating | A+ | F |
No historical data available.