Bask Bank vs. SoFi Bank
Bask Bank's Interest Savings Account pays 3.75% APY while SoFi Bank's SoFi Savings pays 4.00% APY.
Note: SoFi Bank's SoFi Savings also needs 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? Bask Bank pays $20 more than SoFi Bank annually ($375 vs $355).
Choose Bask Bank if getting the best rate matters most, you want a no-strings-attached account, or you're an Android user. Choose SoFi Bank if BBB rating matters to you.
Important Considerations
SoFi Bank's SoFi Savings pays its top rate only if you also open a checking account with SoFi Bank, while Bask Bank's Interest Savings Account stands alone.
| Metric | Bask BankInterest Savings Account Sep 7, 2026 | SoFi BankSoFi Savings Sep 5, 2026 |
|---|---|---|
| APY | 3.75% | 3.10% - 4.00% |
Earns in a year | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$178 $10,000+$355 $25,000+$888 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Limited offer: The stated APY 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 an interest-bearing checking account. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Prefer In-Person Banking?
Both of these institutions are online-only. If you need in-branch access, check out our list of savings accounts with brick-and-mortar locations.
Executive Summary
Bask Bank offers a competitive Interest Savings Account with an APY of 3.75%, making it an attractive option for savers looking for simplicity, as it has no direct deposit requirement or maintenance fees. In contrast, SoFi Bank's savings account features a promotional APY of 4.00%, which is contingent on meeting certain conditions, including a direct deposit or qualifying deposits. However, without these conditions, the account earns a lower APY of 3.10%. While SoFi's promotional rate is higher, it requires more engagement from the account holder. Both banks operate online and are nationally available.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bask Bank?
- No checking account or direct deposit required
- Higher rated Android app (4.6 vs 3.8)
Why SoFi Bank?
- Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- Higher potential APY (4.00% vs 3.75%) for a duration of 6 months (requires checking bundle & direct deposit)
Key Feature Differences
Better Returns at $10,000
Bask BankBask Bank's Interest Savings Account earns more on smaller deposits (approx. $375 vs $355/yr).
Better Returns at $25,000
Bask BankBask Bank's Interest Savings Account pulls ahead with larger amounts (approx. $938 vs $888/yr).
Better for Simplicity
Bask BankBask Bank's Interest Savings Account offers 3.75% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Bask Bank's Interest Savings Account pays $20 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Bask Bank'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
Bask Bank vs. SoFi Bank Savings Calculator
You earn $20.1 more with Bask Bank 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.
Bask Bank
Interest Savings Account
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$354.90(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,354.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $350 a year in interest.
Both Bask Bank and SoFi Bank advertise far more than that typical branch-bank rate.
| Feature | Bask Bank | SoFi Bank |
|---|---|---|
| APY | 3.75% Observed: 9/7/2026 0.25%90-day change | 4.00% Range: 3.10% - 4.00% Observed: 9/5/2026 0.20%90-day change |
| Product Name | Interest Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | 4 (CA, UT) |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Interest Checking; not for standalone savings. | Available Native support added in 2024 for banking members. |
| BBB Rating | B | A+ |
| Important Notes | - | Limited offer: The stated APY 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 an interest-bearing checking account. |
| Next Steps | Visit SiteVerify at Bask Bank Non-sponsored link to official site | Visit SiteVerify at SoFi Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Bask Bank | SoFi Bank |
|---|---|---|
| Interest Savings Account | SoFi Savings | |
Current APY | 3.75% | 4.00% |
Trend | Stable | Stable |
Speed of change | -0.05 | -0.08 |
Days Since Change | 125 | 3 |
12-Month High | 4.15% | 4.50% |
12-Month Low | 3.75% | 3.80% |
Changes per month | 0.41 | 0.41 |
Steadiness | 0.033 | 0.050 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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Compare Bask Bank's APY of 3.75% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bask Bank vs Ally Bank | 3.00% | $0 |
| Bask Bank vs American Express | 3.00% | $0 |
| Bask Bank vs Axos Bank | 4.21% | $0 |
| Bask Bank vs Barclays | 3.65% | $0 |
| Bask Bank vs Capital One | 3.50% | $0 |
| Bask Bank vs Chime | 3.75% | $0 |
| Bask Bank vs CIT Bank | 3.75% | $100 |
| Bask Bank vs EverBank | 3.90% | $0 |
| Bask Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Bask Bank vs Newtek Bank | 4.20% | $100 |
| Bask Bank vs Openbank | 3.80% | $500 |
| Bask Bank vs Pibank | 4.10% | $0 |
| Bask Bank vs Synchrony Bank | 3.30% | $0 |
| Bask Bank vs Varo Bank | 3.75% | $0 |
| Bask Bank vs Wealthfront | 3.95% | $0 |