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SoFi® vs. Capital One: The Showdown Between Online-Only and Hybrid Banking

Review Updated
Brooklyn Sprunger
Author: Brooklyn Sprunger
Brooklyn Sprunger
Brooklyn Sprunger
Content Manager

Brooklyn Sprunger is a full-time Content Manager and Personal Finance Writer at Motley Fool Money, where she oversees product reviews and ratings while also writing about credit cards, bank accounts, investing, auto insurance, and other personal finance topics. She has worked in financial content since 2018, including more than four years at The Motley Fool. When she’s not writing or editing, Brooklyn is likely hiking and watching the Tennessee Vols.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

SoFi® and Capital One are two of the strongest banks we've reviewed, both earning spots on several of our "best of" lists this year. They share a lot in common: competitive rates, no monthly fees, and top-rated apps. But they're built for different kinds of customers. SoFi® is best for digital-first users who want everything -- checking, savings, investing, even loans -- in one place. Capital One blends that same tech-driven convenience with the option to visit a branch or a Capital One Cafe when you want in-person help.

Personally, I lean toward whichever account helps my money grow faster. I prefer online-only banking, automate everything, and have never had issues managing my accounts digitally. But if you still like having a branch nearby, Capital One's hybrid setup makes it easier to strike that balance.

SoFi® overview

Founded in 2011 as a student loan refinance company, SoFi® (short for Social Finance) has evolved into a full-fledged online bank offering checking, savings, investing, and lending products. Known for its sleek app and high savings rates, SoFi® caters to digital-first consumers who value all-in-one financial management and no fees.

Capital One overview

Founded in 1994, Capital One is one of the largest U.S. banks, best known for its credit cards, but it's also a major player in online banking. Capital One offers fee-free checking and savings accounts, a strong mobile experience, and physical branches, including unique Capital One Cafes that combine banking with coffee and community.

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Account options: SoFi® vs. Capital One

Savings accounts

Rates as of Oct 10, 2025
Offer
 
 
Account
SoFi Checking and Savings

On SoFi's Secure Website.

Capital One 360 Performance Savings

On Capital One's Secure Website.

Rating
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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= Poor
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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= Poor
APY up to 4.50% Rate info Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC. 3.40% Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Oct. 1, 2025. Rates are subject to change at any time before or after account opening.
Min. to earn APY $0 $0
Next Steps
Open Account for SoFi Checking and Savings
Open Account for Capital One 360 Performance Savings
Disclaimers

Both banks offer high-yield savings accounts, but SoFi® currently leads with higher annual percentage yields (APYs) -- especially if you set up direct deposit. The Capital One 360 Performance Savings still offers an attractive rate, especially for those who want in-person access. If you prefer hybrid banking with branch support, Capital One wins. If you prioritize max yield and simplicity, SoFi® is stronger.

Checking accounts

Rates as of Oct 10, 2025
Offer
 
 
Account
SoFi Checking and Savings

On SoFi's Secure Website.

Rating
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY 0.50% Rate info Circle with letter I in it. SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus. 0.10%
Min. to earn APY $0 $0
Next Steps
Open Account for SoFi Checking and Savings
Read Review
Disclaimers

SoFi® offers one of the few online checking accounts that actually earns interest -- 0.50% APY -- and has no overdraft fees. Capital One pays a lower rate but adds physical branches and better cash deposit options. If you want to earn interest on checking and don't need branches, go with SoFi®. If you want face-to-face banking, Capital One has the edge.

Certificates of deposit (CDs)

Rates as of Oct. 8, 2025

APY = Annual Percentage Yield

Offer image for Capital One 360 CD
Capital One 360 CD
Bottom Line

Backed by Capital One's well-known brand, the Capital One 360 CDs offer competitive rates across many common terms, though they're stronger in durations of a year or longer. There's no minimum deposit, so savers can benefit even if they don't have a large sum to deposit. Check Capital One's website for the most up-to-date rates.

MINIMUM DEPOSIT $0
Read Review
6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 30 Mo. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
3.50% 3.50% 4.00% 3.80% 3.60% 3.60% 3.60% 3.60% 3.60%

Capital One is the clear winner here -- SoFi® doesn't offer CDs. Capital One's lineup covers common terms from 6 months to 5 years, with no deposit minimums. It's a good pick for savers looking to lock in rates at a stable bank.

APY comparison

SoFi® leads in overall yield potential, but its highest rates depend on meeting direct deposit requirements. Capital One's rates are competitive but lower, balancing out with its hybrid convenience and CD options.

Customer service

SoFi® Capital One
Customer service availability 24/7 via chat; phone 5 a.m.–7 p.m. PT 8 a.m.–11 p.m. ET by phone; in-person available
Physical branch locations None (online only) 250+ branches, 55 Capital One Cafes
Data source: SoFi® and Capital One

SoFi® offers surprisingly strong customer support for a digital-only bank. You can reach an agent anytime through 24/7 live chat, phone support, or Twitter (@SoFiSupport). Users say responses are quick and helpful, though the all-in-one app can feel a bit busy if you only use a few of SoFi®'s products. I like knowing that help is a few taps away, even without a physical branch.

Capital One takes a hybrid approach, offering support online, by phone (8 a.m.–11 p.m. ET), or in person at more than 250 branches and 55 Capital One Cafes. Customers often mention friendly service and easy access -- whether they're banking digitally or face-to-face. I can see why this setup appeals to anyone who wants the reassurance of real people behind their accounts.

Mobile apps

SoFi® Capital One
App Store rating 4.8 / 5.0 4.9 / 5.0
Google Play rating 4.2 / 5.0 4.5 / 5.0
Data source: SoFi® and Capital One

Both banks shine on mobile, but they cater to different preferences. SoFi®'s app integrates banking, investing, and loans in one dashboard, which some users find overwhelming. Capital One's app is praised for its simplicity, reliability, and extras like Eno, an AI assistant that helps monitor spending and fraud alerts.

Which bank is a better choice for you?

Both SoFi® and Capital One are great options, it just depends on how you like to bank.

If you're drawn to higher yields and a fully digital experience, SoFi® is tough to beat. It's designed for people who already use direct deposit and want to make every dollar work harder. Start your SoFi® application today and see how much more your cash could earn.

If you'd rather combine digital convenience with real-world access, Capital One might be the better fit. Its hybrid model lets you handle almost everything online while still having branches and Cafes nearby when you want personal support. Apply for a Capital One account here and get the best of both worlds.

The good news? You really can't go wrong. SoFi® shines for its rates and automation, while Capital One delivers a perfect mix of tech and human touch.