SoFi vs Bank of America

SoFi is a personal loans with low APR and fees. Must have good credit to qualify. How does it compare to Bank of America? Read our comparison chart below.

	SoFi	Bank of America
		Member FDIC
	Learn More	Learn More
	OFFER Personal Loans: Borrow Between $5k-$100k - Learn More Read SoFi Review	OFFER Bank of America Advantage Banking - Up to $500 Cash Offer Read Bank of America Review
	Benefits and Features
Savings	Up to 3.10% APY on savings balances with direct deposit or qualifying deposits (1.00% APY without)	Bank of America Advantage Savings Standard Rate: 0.04% APY
CD	N/A	7-Month CD - 3.75% APY 10-Month CD - 2.95% APY 13-Month CD - 2.00% APY 25-Month CD - 1.75% APY 37-Month CD - 0.11% APY 1-Month CD - 0.03% APY 120-Month CD - 0.03% APY
Checking	0.50% APY on checking balances
Mobile App	iOS & Android	iOS & Android
ATMs	55,000+ Allpoint ATMs	Approximately 15,000+ ATMs
Customer Service	Checking and Savings Support: Phone: (855) 456-7634 Monday - Thursday: 5AM - 7PM PT Friday - Sunday: 5AM - 5PM PT 24/7 online chat	Monday -Friday: 8AM - 9PM ET Saturday: 9AM - 6PM ET Sunday: 8AM - 5PM ET
IRA CD
Locations	Online only	3,700 financial centers
	CreditDonkey® Reviews

Fees
Interest Rates
Eligibility
Pros & Cons	Pros: Competitive, fixed rates Low fees No collateral Cons: Slower underwriting process High standards for borrowers
Bottom Line	Personal loans with low APR and fees. Must have good credit to qualify... Read full review	Read full review
	Learn More	Learn More
	Personal Loans: Borrow Between $5k-$100k Active Investing with SoFi SoFi Active Invest with SoFi Plus - Up to $2,000 Free Stock
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Bank of America: Pricing information from published website as of 09/17/2026 based on 91107 zip code.

Member FDIC

Bank of America Advantage Banking - Up to $500 Cash Offer

Learn More

Expires 1/31/2027

The up to $500 cash offer must be opened through the Bank of America promotional page.
The offer is for new checking customers only.
Offer expires 01/31/2027.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days of account opening.

Cash Bonus Total Direct Deposits

$100 $2,000

$300 $5,000

$500 $10,000+
After the Deposit Period ends, and once you satisfy all the requirements, we will attempt to deposit the earned bonus directly into your new eligible personal checking account within sixty (60) days. The new eligible personal checking account must be open and in good standing up to and including the date any earned bonus is paid.
Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Additional terms and conditions apply. See offer page for more details.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
Bank of America, N.A. Member FDIC

Cash Bonus	Total Direct Deposits
$100	$2,000
$300	$5,000
$500	$10,000+

Which is Better: SoFi or Bank of America?

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