Capital One vs. SoFi Bank
Capital One's 360 Performance Savings pays 3.00% APY while SoFi Bank's SoFi Savings pays 3.80% APY.
Note: SoFi Bank requires 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? SoFi Bank pays $45 more than Capital One annually ($345 vs $300).
Choose Capital One if you want a no-strings-attached account, you value in-person banking, or you're an Android user. Choose SoFi Bank if getting the best rate matters most.
Important Considerations
SoFi Bank requires a checking account to unlock its top savings rate, while Capital One offers its savings account standalone.
| Metric | Capital OneBusiness Savings Account Aug 20, 2026 | SoFi BankSoFi Savings Aug 21, 2026 |
|---|---|---|
| APY | 3.50% | 3.10% - 3.80% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$173 $10,000+$345 $25,000+$863 |
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 AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Comparison Analysis
Comparing Capital One vs. SoFi Bank
Executive Summary
A detailed summary for this comparison is being prepared. Check back soon.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Capital One?
- ✓No checking account or direct deposit required
- ✓Physical branch access (Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.)
- ✓Higher rated Android app (4.5 vs 3.9)
- ✓Offers 3 different high-yield savings options
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Higher potential APY (3.80% vs 2.50%-3.50%) for a duration of 6 months (requires checking bundle & direct deposit)
Key Feature Differences
Best for Simplicity
Capital OneCapital One's Business Savings Account offers 3.50% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Capital OneCapital One offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.5 (vs. 3.9)
Shared Benefits
Over a 1-year period, Capital One's Business Savings Account pays $5 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Capital One'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
Capital One vs. SoFi Bank Savings Calculator
You earn $5.1 more with Capital One 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.
Capital One
Business Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$344.90(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,344.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $344 per year in interest.
Both Capital One and SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Capital One | SoFi Bank |
|---|---|---|
| APY | 3.50% Verified: 8/20/2026 - | 3.80% Range: 3.10% - 3.80% Verified: 8/21/2026 - |
| Product Name | Business Savings Account | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | N/A | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C. | N/A |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,500/dayAvailable for 360 Checking accounts. | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | 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 Capital One 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 | Capital One | SoFi Bank | |
|---|---|---|---|
| 360 Performance Savings | Business Savings Account | SoFi Savings | |
Current APY | 3.00% | 3.50% | 3.80% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.5 | 0.0 | -3.0 |
Days Since Change | 80 | 149 | 85 |
7-Month High | 3.20% | 3.50% | 4.00% |
7-Month Low | 3.00% | 3.50% | 3.80% |
Adjustments / Mo | 0.30 | 0.00 | 0.15 |
Volatility Score | 0.026 | 0.000 | 0.022 |
How to read these metrics(Click to expand)
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