Citibank vs. SoFi Bank
Citibank's Citi Accelerate Savings pays 2.80% 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 $75 more than Citibank annually ($355 vs $280).
Choose Citibank if you want a no-strings-attached account, or you're an Android user. Choose SoFi Bank if getting the best rate matters most, or 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 Citibank's Citi Accelerate Savings stands alone.
Citibank's Accelerate Savings is only available in select states where Citi has no branch presence. Check eligibility before applying.
| Metric | CitibankCiti Accelerate Savings Sep 11, 2026 | SoFi BankSoFi Savings Sep 11, 2026 |
|---|---|---|
| APY | 2.80% | 3.10% - 4.00% |
Earns in a year | $5,000+$140 $10,000+$280 $25,000+$700 | $5,000+$178 $10,000+$355 $25,000+$888 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | 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
SoFi Bank offers a competitive APY of 4.00% on its SoFi Savings account, which is available online and requires a direct deposit or qualifying deposits to earn the promotional rate. In contrast, Citibank's top product, the Citi Accelerate Savings account, provides a lower APY of 2.80%, with eligibility restricted to select states. While Citibank has a standard savings option with a minimal APY of 0.03%, SoFi's account is bundled with an interest-bearing checking account, making it a more attractive choice for those seeking higher returns and an all-in-one banking solution. Both banks have no maintenance fees, but Citibank's account requires a checking account for fee waivers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Citibank?
- No checking account or direct deposit required
- Physical branch access (U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.)
- Higher rated Android app (4.8 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 2.80%) on all balances
- Available Nationwide
Key Feature Differences
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $355 vs $280/yr).
Better Returns at $25,000
SoFi BankSoFi Bank's SoFi Savings pulls ahead with larger amounts (approx. $888 vs $700/yr).
Better for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Better Mobile App Experience
CitibankCitibank offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 3.8)
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $75 more interest on a $10,000 balance than Citibank's Citi Accelerate Savings.
*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
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Citibank vs. SoFi Bank Savings Calculator
You earn $74.9 more with SoFi Bank than Citibank 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.
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$280.00(2.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,280.00
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 $275 a year in interest.
Both Citibank and SoFi Bank advertise far more than that typical branch-bank rate.
| Feature | Citibank | SoFi Bank |
|---|---|---|
| APY | 2.80% Observed: 9/11/2026 0.20%90-day change | 4.00% Range: 3.10% - 4.00% Observed: 9/11/2026 0.20%90-day change |
| Product Name | Citi Accelerate Savings | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $4.50. Waived for average monthly balances > $500 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 955 (CA, CT, DC, DE, FL, IL, MD, NJ (+6 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/dayTiered limits based on account status (Citigold higher). | Available Native support added in 2024 for banking members. |
| BBB Rating | D- | A+ |
| Important Notes | Eligibility restricted to select states. | 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 Citibank 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 | Citibank | SoFi Bank | |
|---|---|---|---|
| Citi® Savings Account | Citi Accelerate Savings | SoFi Savings | |
Current APY | 0.03% | 2.80% | 4.00% |
Trend | Stable | Stable | Stable |
Speed of change | 0.00 | -0.05 | -0.08 |
Days Since Change | 361 | 31 | 7 |
12-Month High | 0.03% | 3.50% | 4.50% |
12-Month Low | 0.03% | 2.80% | 3.80% |
Changes per month | 0.00 | 0.66 | 0.33 |
Steadiness | 0.000 | 0.028 | 0.049 |
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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|---|---|---|
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| Citibank vs American Express | 3.00% | $0 |
| Citibank vs Axos Bank | 4.21% | $0 |
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| Citibank vs Marcus by Goldman Sachs | 3.40% | $0 |
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| Citibank vs Pibank | 4.10% | $0 |
| Citibank vs Synchrony Bank | 3.30% | $0 |
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| Citibank vs Wealthfront | 3.95% | $0 |