EverBank vs. SoFi Bank
EverBank's Performance Savings pays 3.90% 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? EverBank pays $35 more than SoFi Bank annually ($390 vs $355).
Choose EverBank if getting the best rate matters most, you want a no-strings-attached account, or you're an Android user.
Important Considerations
SoFi Bank's SoFi Savings pays its top rate only if you also open a checking account with SoFi Bank, while EverBank's Performance Savings stands alone.
| Metric | EverBankPerformance Savings Sep 5, 2026 | SoFi BankSoFi Savings Sep 5, 2026 |
|---|---|---|
| APY | 3.90% | 3.10% - 4.00% |
Earns in a year | $5,000+$195 $10,000+$390 $25,000+$975 | $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 CompoundingStable Rate | 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
EverBank offers a standout Performance Savings account with a competitive APY of 3.90%, providing a straightforward savings option with no direct deposit requirement or maintenance fees. This account is available nationally and is online-only, making it accessible to customers across various states. In comparison, SoFi Bank's Savings account has a higher promotional APY of 4.00%, but this rate requires eligible direct deposits or qualifying deposits of $5,000 or more within 31 days, and it is only available for six months. SoFi's account also comes bundled with an interest-bearing checking account. Overall, while SoFi offers a higher promotional rate, EverBank's account is simpler and more accessible.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why EverBank?
- No checking account or direct deposit required
- Physical branch access (11 locations in Florida and California)
- 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+.
Key Feature Differences
Better Returns at $10,000
EverBankEverBank's Performance Savings earns more on smaller deposits (approx. $390 vs $355/yr).
Better Returns at $25,000
EverBankEverBank's Performance Savings pulls ahead with larger amounts (approx. $975 vs $888/yr).
Better for Simplicity
EverBankEverBank's Performance Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, EverBank's Performance Savings pays $35 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet EverBank'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
EverBank vs. SoFi Bank Savings Calculator
You earn $35.1 more with EverBank 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.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 EverBank and SoFi Bank advertise far more than that typical branch-bank rate.
| Feature | EverBank | SoFi Bank |
|---|---|---|
| APY | 3.90% 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 | Performance Savings | 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 | 43 (CA, FL, MO, NY) | 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 Native integration verified. | 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 EverBank 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 | EverBank | SoFi Bank |
|---|---|---|
| Performance Savings | SoFi Savings | |
Current APY | 3.90% | 4.00% |
Trend | Stable | Stable |
Speed of change | -0.05 | -0.08 |
Days Since Change | 260 | 1 |
12-Month High | 4.30% | 4.50% |
12-Month Low | 3.90% | 3.80% |
Changes per month | 0.17 | 0.41 |
Steadiness | 0.025 | 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 362-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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