SoFi Bank, N.A. is a nationally chartered online bank offering checking and savings in a single account. Non-SoFi-Plus members earn 3.30% APY on savings with an Eligible Direct Deposit or $5,000+ in Qualifying Deposits (0.80% without), and 0.50% APY flat on checking — with zero monthly fees. SoFi Plus subscribers ($10/month) can reach a tiered rate up to 4.50% APY on savings balances up to $20,000, and a current limited-time promotion can bring new non-Plus members with direct deposit to 4.20% APY through 12/31/2026. See the SoFi savings account guide for the full rate structure and sourcing. Beyond banking, SoFi’s ecosystem includes investing, personal loans, student loan refinancing, mortgages, and a credit card.
Correction note (September 19, 2026): This page’s FAQ and tables previously left SoFi’s savings rate as “confirm current rate” or cited a range as high as 4.60%. SoFi’s official rate sheet has now been sourced directly — see above and the linked savings account guide for the full tiered structure.
Bottom line: SoFi is best for people who either catch the current promotional rate boost or pay for SoFi Plus and stay under its balance tier ceiling. Its standing non-Plus rate (3.30%) is solid but not a standout versus flat-rate competitors. It’s a genuine all-in-one replacement for a traditional bank.
SoFi at a Glance
| Feature | Non-Plus, w/ DD or Qualifying Deposits | Non-Plus, neither | SoFi Plus (≤$20K) |
|---|---|---|---|
| Savings APY | 3.30% | 0.80% | 4.50% |
| Checking APY | 0.50% | 0.50% | 0.50% |
| Monthly fees | $0 | $0 | $0 (SoFi Plus membership is $10/month) |
| Overdraft fee | $0 | $0 | $0 |
| Minimum to open | $0 | $0 | $0 |
| ATM network | 55,000+ fee-free (Allpoint) | Same | Same |
| ATM fee reimbursement | No (operator fees may apply outside Allpoint) | No | No |
| Early direct deposit | Up to 2 days early | N/A | Up to 2 days early |
| FDIC insured | Yes — $250,000 | Yes | Yes |
| Bank charter | SoFi Bank, N.A. (OCC, since 2022) | Same | Same |
SoFi Product Lineup
| Product | Available | Key Feature |
|---|---|---|
| High-yield savings | ✅ | 3.30% w/DD (non-Plus), up to 4.50% (SoFi Plus) |
| Checking | ✅ | 0.50% flat + debit card |
| Personal loans | ✅ | $5K–$100K, no fees |
| Student loan refinancing | ✅ | From 4.49% fixed |
| Mortgage | ✅ | 3% down, rate discount for members |
| Investing (stocks/ETFs) | ✅ | $0 trades, fractional shares |
| Robo-advisor | ✅ | 0% management fee |
| IRA | ✅ | 1% contribution match |
| Credit card | ✅ | 2% cashback, no annual fee |
| Crypto trading | ✅ | In the SoFi Invest app |
| CDs | ❌ | Not offered |
| Physical branches | ❌ | Online only |
Savings Rate Comparison
| Bank | Savings APY | Direct Deposit Required? |
|---|---|---|
| Marcus by Goldman Sachs | 3.50% | No |
| Wealthfront Cash | 3.55% | No |
| SoFi (non-Plus, w/DD or Qualifying Deposits) | 3.30% | Yes |
| SoFi Plus (≤$20K balance) | 4.50% | No, but $10/mo subscription |
| Ally Bank | 3.10% | No |
| Capital One 360 | 3.10% | No |
| SoFi (non-Plus, without either) | 0.80% | — |
SoFi’s 3.30% non-Plus rate with direct deposit is close to flat-rate competitors like Ally (3.10%). SoFi’s advantage shows up only with its current promotional boost (up to 4.20%, limited time) or its SoFi Plus tier (4.50%, capped at $20,000, requires a $10/month subscription). Confirm current rates at each institution before comparing, since the competitor figures above (other than Ally and SoFi) were not independently reverified this session.
Fee Comparison
| Fee | SoFi | Ally | Marcus | Chase |
|---|---|---|---|---|
| Monthly maintenance | $0 | $0 | $0 | $15 |
| Overdraft | $0 | $0 | N/A | $34 |
| Out-of-network ATM | Not reimbursed (operator fees may apply) | Up to $10/statement cycle reimbursed | N/A | $3 |
| Outgoing wire | $30 domestic (per sofi.com, Sept. 2026) | $20 (verified ally.com, Sept. 2026) | N/A | Varies by bank |
| Foreign transaction | Check SoFi’s fee page | Up to 1% | N/A | 3% |
The SoFi Ecosystem
A key advantage of SoFi is that all products live in one app with one login:
| Ecosystem Benefit | Detail |
|---|---|
| Instant transfers | Move money between banking and investing immediately |
| Unified dashboard | Net worth, accounts, loans, and investments in one view |
| Member rate discounts | 0.125% off SoFi mortgage rates |
| SoFi Relay | Free credit score monitoring and budget tracking |
| Career coaching | Free sessions with career counselors |
| CFP access | Free financial planning consultations |
| 1% IRA match | SoFi matches 1% of IRA contributions |
All SoFi Guides
- SoFi Savings Account 2026 — full savings rate structure: 3.30% non-Plus, 0.80% without, up to 4.50% with SoFi Plus
- SoFi Banking Review 2026 — full account review: rates, features, fees, pros and cons
- SoFi vs Ally Bank 2026 — full-service online bank comparison
- SoFi Routing Number 2026 — 031101334 for direct deposit and ACH
- SoFi ATM Limit 2026 — $2,000/day, 55,000+ Allpoint ATMs, no OON reimbursement
- SoFi Customer Service 2026 — 1-855-456-7634, Mon–Thu 5AM–7PM PT, Fri–Sun 5AM–5PM PT
- SoFi Minimum Balance 2026 — $0 minimum, 3.30% APY with direct deposit (non-Plus)
- SoFi Mobile Deposit Limit 2026 — where to find your limit, cutoff and hold rules
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