Capital One vs. SoFi Bank
Capital One's 360 Performance Savings pays 3.00% 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? SoFi Bank pays $55 more than Capital One annually ($355 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's SoFi Savings pays its top rate only if you also open a checking account with SoFi Bank, while Capital One's 360 Performance Savings stands alone.
| Metric | Capital OneBusiness Savings Account Sep 5, 2026 | SoFi BankSoFi Savings Sep 5, 2026 |
|---|---|---|
| APY | 3.50% | 3.10% - 4.00% |
Earns in a year | $5,000+$175 $10,000+$350 $25,000+$875 | $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 AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Capital One vs. SoFi Bank
Executive Summary
Capital One offers a competitive Business Savings Account with a 3.50% APY, requiring no direct deposit and no minimum balance, making it a strong choice for business savings. In contrast, SoFi Bank's savings account features a promotional APY of 4.00% for six months, contingent upon setting up an eligible direct deposit or maintaining qualifying deposits, after which the standard rate is 3.10%. SoFi's account also comes bundled with an interest-bearing checking account, but it is online-only and requires direct deposit to achieve the higher rate. Overall, while SoFi's promotional rate is higher, access is contingent upon specific conditions.
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 3.8)
- 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 (4.00% vs 2.50%-3.50%) on all balances
Key Feature Differences
Better for Simplicity
Capital OneCapital One's Business Savings Account offers 3.50% APY with no bundling, direct deposit requirement or caps.
Better Mobile App Experience
Capital OneCapital One offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.5 (vs. 3.8)
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $5 more interest on a $10,000 balance than Capital One's Business Savings Account.
*SoFi Bank's calculation includes their 6-month introductory promotional rate and subsequent standard rate.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Capital One vs. SoFi Bank Savings Calculator
You earn $4.9 more with SoFi Bank than Capital One 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+$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 $345 a year in interest.
Both Capital One and SoFi Bank advertise far more than that typical branch-bank rate.
| Feature | Capital One | SoFi Bank |
|---|---|---|
| APY | 3.50% Observed: 9/5/2026 Stable over 90 days | 4.00% Range: 3.10% - 4.00% Observed: 9/5/2026 0.20%90-day change |
| 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 | 252 (CT, DC, DE, LA, MD, NJ, NY, TX (+1 more)) | 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 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% | 4.00% |
Trend | Stable | Stable | Stable |
Speed of change | -0.03 | 0.00 | -0.00 |
Days Since Change | 95 | 165 | 1 |
7-Month High | 3.20% | 3.50% | 4.00% |
7-Month Low | 3.00% | 3.50% | 3.80% |
Changes per month | 0.28 | 0.00 | 0.28 |
Steadiness | 0.026 | 0.000 | 0.025 |
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 217-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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