SoFi Checking and Savings
Bank better with up to 4.00% APY2 and no account fees.1
For a limited time, get a 0.20% boost on our highest savings APY (currently 3.80%4) when you set up a new account with eligible direct deposit. Open a new SoFi Checking and Savings account by 6/24/25, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. Plus, you could get a welcome bonus of up to $300.3
2Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 6/10/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 6/24/25. Rates variable, subject to change. Terms apply here. SoFi Bank, N.A. Member FDIC.
Pay no account fees 1
No account, overdraft, or monthly fees—just great banking.
Earn $50 or $300 with eligible direct deposit3
Just open your account and set up direct deposit of $1,000 or more. Terms apply
Earn up to 4.00% APY2 with eligible direct deposit
Limited-time only: Get a 0.20% boost on our highest savings APY of 3.80%4 when you set up a new account with eligible direct deposit. Terms apply
Access additional FDIC insurance up to $3M5
On deposits through a seamless network of participating banks. Learn more and opt in here.
What does a better online look like? This. bank account
No account fees1
No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.7
Earn up to 4.00% APY2 with SoFi Plus.
with SoFi Plus 
Limited-time only: Get a 0.20% boost on our highest savings APY of 3.80%4 when you set up a new account with eligible direct deposit. Terms apply.
Up to 2-day-early-paycheck8
Feel the magic of payday up to two days earlier—automatically—when you set up direct deposit.
No-fee Overdraft Coverage
Overspent by accident? No problem. You'll be covered up to $50 with no fees with eligible direct deposit of at least $1,000.9
Do it all in one app.
Pay bills, deposit checks, send money, manage your digital wallet, and get live customer support 7 days a week, all in the SoFi app.
Additional FDIC Insurance
Access additional insurance up to $3M on deposits through a seamless network of participating banks. Learn more and opt in here.5
Get award-winning banking.
See for yourself why SoFi won 10 banking awards from 9 industry publications last year.
Awards or rankings are not indicative of future success or results. Neither SoFi Bank, N.A. nor its employees paid a fee in exchange for ratings. Awards and ratings are independently determined and awarded by their respective publications.
Savings rates that are way above the national average.10
Get ready to earn 3.80% APY4 with eligible direct deposit—that’s 9x the national average savings rate10—on your savings and Vault balances. Plus now through 6/24/25, new members can get a 6-month 0.20% boost on our highest savings APY of 3.80% with eligible direct deposit. Terms apply.

FAQs
Learn more about our Student Checking and Savings Offer.
Learn more: How to Set Up Direct Deposit
Interest rates are variable and subject to change at any time. Additional information can be found at sofi.com/legal/banking-rate-sheet.
Learn more: How Much Money Is Needed to Start a Bank Account?
Learn more: How Old Do You Have to Be to Open a Bank Account?
-Get paid via direct deposit (into either your checking or savings). Eligible direct deposits are the electronic deposits of your paycheck, pension or government payments (e.g., Social Security) from your employer, benefits provider, or the government.
-Add $5,000 or more to your checking or savings account every 30 days.
More banking tips and resources
just clicks away.Earn up to 4.00% APY2 with eligible direct deposit.
Limited-time only: Get a 0.20% boost on our highest savings APY of 3.80%4 when you set up a new account with eligible direct deposit. Terms apply.
SoFi > Banking