Both UFB Direct Secure Savings Account and SoFi Savings Account offer competitive APYs and no monthly fees. UFB Direct provides higher potential APY with a linked checking account and 24/7 customer support, but charges for excessive withdrawals. SoFi offers a user-friendly mobile app, a large ATM network, and no withdrawal limits, but requires direct deposit to achieve its higher APY.
| Attribute | UFB Direct Secure Savings Account | SoFi Savings Account |
|---|---|---|
| APY (Annual Percentage Yield) | Up to 4.01%. A rate of 4.21% APY is possible if you open a UFB checking account and meet certain requirements. | SoFi members with eligible direct deposit can earn 3.80% APY on savings balances (including Vaults). Members without eligible direct deposit will earn 1.00% APY on savings balances. A 0.20% APY boost is available for up to 6 months, resulting in a total APY of 4.00% as of July 10, 2025. To qualify for the highest APY, you need to receive direct deposits from an employer, payroll provider, or benefits provider via ACH deposit, or have $5,000 or more in qualifying deposits during the 30-day evaluation period, or enroll in SoFi Plus by paying a subscription fee. |
| Minimum deposit to open | $0 | There is no minimum deposit required to open a SoFi savings account. |
| FDIC Insurance | Yes, FDIC insured up to $250,000 per individual and $500,000 jointly. Expanded protection up to $265 million may be available through UFB Direct InsureGuard+ Savings through IntraFi Network DepositsSM. | SoFi Checking and Savings accounts are FDIC insured up to the standard $250,000 per depositor. SoFi offers access to up to $2 million in FDIC insurance through a network of partner banks. |
| Monthly fees | $0 | There are no monthly maintenance fees. |
| Compounding frequency | The interest rate and APY are variable and set at their discretion. Interest rates may change as often as daily without prior notice. | Interest is accrued daily and compounded monthly. The interest earned is posted to your account on the last business day of each month. |
| Online accessibility | Yes | SoFi provides easy online access. |
| Mobile app availability | Yes | SoFi offers a user-friendly mobile app for both iOS and Android. |
| ATM access | Yes. Free access to approximately 91,000 ATMs nationwide. UFB Direct doesn't charge ATM fees, but you may incur fees from other banks' ATMs. | SoFi members have access to over 55,000 fee-free ATMs through the Allpoint network. |
| Customer service channels (phone, email, chat) | Phone: 24/7 (excluding Thanksgiving and Christmas) at 1-877-472-9200. Secure Message: Log in to online banking and select Messages. Chat: Log in to online banking and chat with a Direct Banker between 8 a.m. and 5 p.m. PT, M-F. | Customer support is available by phone. |
| Balance tiers and corresponding APYs | A flat rate of 4.01% APY for any balance. | Members with Eligible Direct Deposit: 3.80% APY on savings. Members without Eligible Direct Deposit: 1.00% APY on savings. |
| Withdrawal limits | UFB Direct does not limit the number of funds transfers you may make. Making more than six transactions per month to withdraw money from a savings account can result in a $10 fee per additional transaction. | SoFi does not have withdrawal limits on its savings account. |
| Linked checking account options | Yes. Linking a UFB Freedom Checking account can boost your savings APY, and the checking account earns 2.00% APY on all balances. | SoFi offers a checking account that earns 0.50% APY. |