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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.

 SoFiBank of America
Member FDIC
 Learn MoreLearn More
 

SoFi

Bank of America

OFFER
Refinance Student Loans - Learn More

Read SoFi Review

OFFER
Bank of America Advantage Banking - $200 Bonus Offer

Read Bank of America Review

 

Benefits and Features

Savings
Up to 4.60% APY
Check
CD
N/A
Check
Checking0.50% APY on checking balances with direct deposit activity or qualifying deposits
Check
ATMs 
Approximately 16,000+ ATMs
Customer Service 
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
IRA CD 
Check
Locations 
3,922 financial centers
 

CreditDonkey® Reviews

 SoFiBank of America
FeesStarStarStarStarHalf Star
EligibilityStarStarHalf StarEmpty StarEmpty Star
Interest RatesStarStarStarStarHalf Star
SavingsStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarHalf StarEmpty Star
CheckingStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty Star
Pros & ConsPros:
  • 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 LinePersonal loans with low APR and fees. Must have good credit to qualify... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review
 Learn MoreLearn More

    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 04/09/2024 based on 91107 zip code.

    Bank of America
    Member FDIC

    Bank of America Advantage Banking - $200 Bonus Offer

    Expires 5/31/2024
    • 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 checking customers only.
    • Offer expires 5/31/2024.
    • To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
    • Bank of America will attempt to pay bonus within 60 days.
    • Additional terms and conditions apply. See offer page for more details.
    • Bank of America, N.A. Member FDIC.
    Bank of America
    Member FDIC

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

    Expires 6/30/2024
    Earn a cash bonus in three steps:
    1. Open a new eligible business checking account by June 30, 2024
    2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
    3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
    *Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
    **The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
    Member FDIC
    Bank of America
    Member FDIC

    Bank of America Advantage SafeBalance Banking®

    • Banking that helps you stay within your balance.
    • No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily. balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
    • Bank of America, N.A. Member FDIC.

    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.


    Articles on SoFi

    SoFi Reviews

    SoFi offers unsecured personal loans if you need to borrow money ASAP. But is it legit (or not)? Learn how SoFi personal loans actually work.

    SoFi Bank Locations

    SoFi is an online bank offering checking and savings accounts. But does it have physical branches? Keep reading to find out.

    SoFi High Yield Savings

    Want a high APY and easy access to your money? Get the best of both worlds with SoFi's Checking and Savings account.

    SoFi Mortgage Review

    Thinking about buying a home or refinancing your existing mortgage? Is SoFi a good online lender or should you stick with a traditional bank? Read on for the pros and cons.

    Articles on Bank of America

    Bank of America Review

    Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

    Bank of America Savings Account Interest Rate

    Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.

    Bank of America High Yield Savings

    Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.

    Bank of America Problems

    Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.

    Bank of America CD Rates

    Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.

    How to Close a Bank of America Account

    Want to close your Bank of America account? Learn how and what you need to do before you close your account.

    Bank of America Hours

    Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

    Bank of America Routing Number

    Find your Bank of America routing number and learn about money transfers in our guide.

    Which Do You Think is Best?





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