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.

Tip: Check out the latest Bank of America promotion.

	SoFi	Bank of America
		Member FDIC
	Learn More	Learn More
	OFFER Refinance Student Loans - 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	3.80% APY on savings balances with direct deposit or qualifying deposits (1.00% APY without)	Bank of America Advantage Savings Standard Rate: 0.01% APY
CD	N/A	7-Month CD - Up to 4.25% APY 10-Month CD - Up to 3.75% APY 13-Month CD - 2.75% APY 25-Month CD - 2.00% 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	4 branch locations	3,700 financial centers
	CreditDonkey® Reviews

Fees
Interest Rates
Eligibility
Savings
CD
Checking
Mobile App
Customer Service
Pros & Cons	Pros: Competitive, fixed rates Low fees No collateral Cons: Slower underwriting process High standards for borrowers	Pros: Large branch network Extended service hours Full service banking Cons: Monthly fees Low interest rates Many misc. banking fees
Bottom Line	Personal loans with low APR and fees. Must have good credit to qualify... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Learn More	Learn More
	Refinance Student Loans Personal Loans: Borrow Between $5k-$100k Active Investing with SoFi
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 08/12/2025 based on 91107 zip code.

Member FDIC

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

Learn More

Expires 1/31/2026

The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new checking customers only.
Offer expires 1/31/2026.
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.

Cash Bonus Total Qualifying Direct Deposits

$100 $2,000

$300 $5,000

$500 $10,000+
If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
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 Qualifying Direct Deposits
$100	$2,000
$300	$5,000
$500	$10,000+

Member FDIC

Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer

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Expires 12/31/2025

The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC

Member FDIC

Business Advantage Relationship Banking

No fee for first 500 transactions per statement cycle
No fee for first $20,000 in cash deposited per statement cycle
Multiple ways to avoid the $29.95 monthly fee

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Which is Better: SoFi or Bank of America?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing SoFi or Chase.