E*TRADE from Morgan Stanley vs. SoFi Bank
SoFi Bank edges out E*TRADE from Morgan Stanley slightly at 3.80% vs 3.50% APY. On a $10,000 balance, the difference is just $5 per year, so other factors may matter more.
The Bottom Line
The E*TRADE from Morgan Stanley and SoFi Bank savings accounts are very similar. Choose E*TRADE from Morgan Stanley if 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 requires a checking account to unlock its top savings rate, while E*TRADE from Morgan Stanley offers its savings account standalone.
| Metric | E*TRADE from Morgan StanleyPremium Savings Account Aug 21, 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 AppZelle® SupportedDaily CompoundingRate Changes Often | 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 E*TRADE from Morgan Stanley 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 E*TRADE from Morgan Stanley?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.7 vs 3.9)
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Higher potential APY (3.80% vs 3.50%) for a duration of 6 months (requires checking bundle & direct deposit)
Key Feature Differences
Best for Simplicity
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley's Premium Savings Account offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, E*TRADE from Morgan Stanley's Premium 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 E*TRADE from Morgan Stanley'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
E*TRADE from Morgan Stanley vs. SoFi Bank Savings Calculator
You earn $5.1 more with E*TRADE from Morgan Stanley 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.
E*TRADE from Morgan Stanley
Premium 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 E*TRADE from Morgan Stanley and SoFi Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | E*TRADE from Morgan Stanley | SoFi Bank |
|---|---|---|
| APY | 3.50% Verified: 8/21/2026 - | 3.80% Range: 3.10% - 3.80% Verified: 8/21/2026 - |
| Product Name | Premium 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 | None | N/A |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Premium Savings and Checking. | Available Native support added in 2024 for banking members. |
| BBB Rating | D- | 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 E*TRADE from Morgan Stanley 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 | E*TRADE from Morgan Stanley | SoFi Bank |
|---|---|---|
| Premium Savings Account | SoFi Savings | |
Current APY | 3.50% | 3.80% |
Trend | Stable | Stable |
Velocity (bps/mo) | -7.8 | -4.9 |
Days Since Change | 66 | 85 |
12-Month High | 4.00% | 4.50% |
12-Month Low | 3.25% | 3.80% |
Adjustments / Mo | 0.41 | 0.33 |
Volatility Score | 0.045 | 0.058 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare E*TRADE from Morgan Stanley vs...
Comparing against Standard Savings
Compare SoFi Bank vs...
Comparing against other Bundled Accounts