SoFi Bank vs. Wealthfront
SoFi Bank edges out Wealthfront slightly at 4.00% vs 3.95% APY. On a $10,000 balance, the difference is just $9 per year, so other factors may matter more.
The Bottom Line
The SoFi Bank and Wealthfront savings accounts are very similar. Choose SoFi Bank if BBB rating matters to you, or you want Zelle for quick transfers. Choose Wealthfront if 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 Wealthfront's Cash Account stands alone.
| Metric | SoFi BankSoFi Savings Sep 11, 2026 | WealthfrontCash Account Sep 11, 2026 |
|---|---|---|
| APY | 3.10% - 4.00% | 3.30% - 3.95% |
Earns in a year | $5,000+$178 $10,000+$355 $25,000+$888 | $5,000+$173 $10,000+$346 $25,000+$866 |
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. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get the stated APY for 3 months, after which a lower APY applies. See terms at Wealthfront. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily Compounding |
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.
Comparison Analysis
Comparing SoFi Bank vs. Wealthfront
Executive Summary
Wealthfront offers a Cash Account with a promotional APY of 3.95% for new clients, which is higher than SoFi Bank's SoFi Savings account, which has a maximum APY of 4.00% but requires eligible direct deposits or qualifying deposits to achieve this rate. Wealthfront's account does not require direct deposit and has no caps, making it a simpler option for savers. SoFi's account, while offering a higher potential APY, comes bundled with an interest-bearing checking account and has a time-limited APY boost. Both accounts are online-only and have no maintenance fees.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why SoFi Bank?
- Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- Fast transfers via Zelle®
Why Wealthfront?
- No checking account or direct deposit required
- Higher rated Android app (4.9 vs 3.8)
Key Feature Differences
Better for Simplicity
WealthfrontWealthfront's Cash Account offers 3.95% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period (factoring in a 6-month promo), SoFi Bank's SoFi Savings pays $9 more interest on a $10,000 balance than Wealthfront's Cash Account.
*Both calculations include their respective introductory promotional rates and subsequent standard rates.
Non-sponsored link to official site
Non-sponsored link to official site
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SoFi Bank vs. Wealthfront Savings Calculator
You earn $7.4 more with SoFi Bank than Wealthfront 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.
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$354.90(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,354.90
Wealthfront
Cash Account
Savings Breakdown
- Interest Earned+$347.50(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,347.50
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 $341 a year in interest.
Both SoFi Bank and Wealthfront advertise far more than that typical branch-bank rate.
| Feature | SoFi Bank | Wealthfront |
|---|---|---|
| APY | 4.00% Range: 3.10% - 4.00% Observed: 9/11/2026 0.20%90-day change | 3.95% Range: 3.30% - 3.95% Observed: 9/11/2026 0.05%90-day change |
| Product Name | SoFi Savings | Cash Account |
| 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 | 4 (CA, UT) | Not reported |
| Direct Deposit Req. | Required | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | Yes |
| Zelle® Support | Available Native support added in 2024 for banking members. | Not Supported |
| BBB Rating | A+ | F |
| 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. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get the stated APY for 3 months, after which a lower APY applies. See terms at Wealthfront. |
| Next Steps | Visit SiteVerify at SoFi Bank Non-sponsored link to official site | Visit SiteVerify at Wealthfront Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | SoFi Bank |
|---|---|
| SoFi Savings | |
Current APY | 4.00% |
Trend | Stable |
Speed of change | -0.00 |
Days Since Change | 7 |
8-Month High | 4.00% |
8-Month Low | 3.80% |
Changes per month | 0.26 |
Steadiness | 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 230-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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