Our savings APY just increased to 4.40%
That means that all SoFi Checking and Savings members (with direct deposit) will now earn 4.40% APY on all savings balances.* And we love to see that. It’s our highest rate ever!
As of today, all SoFi checking balances will now earn 0.50%. Adjusting our APY allows us to increase our savings APY even further while still offering you an industry-leading APY on checking balances. It’s all in the name of providing you with the best banking and the best rates.
SoFi’s checking APY is 7x the national average†. See how we stack up vs. other banks:
As always, members can make unlimited instant transfers between checking, savings, and Vaults. Qualifying members can also sign up for no-fee Overdraft Coverage^, covering up to $50 if you ever accidentally spend more than you have.
For more details on this rate change, check out https://www.sofi.com/blog/sofi-apy-increase-july-2023
And if you’re ready to earn up to 4.40% APY, sign up at SoFi.com/banking
Tiny Disclosures:
\SoFi members with direct deposit can earn up to 4.40% annual percentage yield APY on savings balances including Vaults and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.40% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield 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 7/11/23. There is no minimum balance requirement. Additional information can be found at) http://www.SoFi.com/legal/banking-rate-sheet. †7x based on FDIC monthly interest checking rate as of June 20, 2023. \Rates may vary by state and do not account for bonus, special, or promotional APYs. Bank rates are current as of July 3, 2023. ^Overdraft Coverage is limited to $50 on debit card purchases only and is available to customers with monthly direct deposits of $1,000, or more. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender. BNK23-1420312)