What is the current SoFi CD rate?

As of June 2026, SoFi CD rates range from approximately 3.80% to 4.50% APY depending on the term. The best rate is typically on the 12-month term. SoFi does not require a minimum deposit to open a CD. Rates change frequently — verify the current rate at sofi.com before opening an account.

Does SoFi have a no-penalty CD?

No. SoFi does not currently offer a no-penalty CD. All SoFi CDs are fixed-term with early withdrawal penalties. If you need penalty-free access to your funds before maturity, Ally Bank's 11-month No-Penalty CD is a commonly cited alternative.

What is the minimum deposit for a SoFi CD?

SoFi requires no minimum deposit to open a CD. This is consistent with SoFi's positioning as an accessible digital banking platform. Traditional banks typically require $1,000–$2,500 to open a CD, making SoFi a good starting point for newer savers.

What is SoFi's early withdrawal penalty for CDs?

SoFi's early withdrawal penalty is approximately 90 days of interest for CDs with terms of 12 months or less, and 180 days of interest for longer terms. Withdrawing early can significantly reduce or eliminate your earned interest. There is no penalty-free CD option at SoFi.

How does SoFi CD compare to Ally and Marcus?

SoFi, Ally, and Marcus all offer competitive online CD rates with low or no minimum deposits. SoFi and Marcus both require $500 or less to open; Ally has no minimum. Ally stands out with its no-penalty CD option. SoFi may appeal most to existing SoFi banking or investing customers who want to consolidate accounts. Compare current rates at all three before opening — differences are usually 0.10–0.25% APY.

SoFi CD Rates 2026 — Terms, APYs, and How They Compare

SoFi CD rates range from approximately 3.80% to 4.50% APY in June 2026, with the best rates concentrated on 12-month terms. SoFi positions itself as an all-in-one financial platform — combining banking, investing, lending, and insurance — so its CDs are particularly convenient for existing SoFi members who want to earn a competitive fixed rate without managing a separate bank account.

Rates shown are as of June 2026 and change frequently. Verify the current rate at sofi.com before opening an account.

SoFi CD Rates by Term (June 2026)

Term	Approximate APY
3 months	3.80–4.00%
6 months	4.00–4.25%
12 months	4.25–4.50%
18 months	4.00–4.25%
2 years	3.75–4.00%
3 years	3.50–3.75%
5 years	3.25–3.50%

SoFi’s 12-month CD is typically the highest-yielding term, consistent with the broader trend among online banks where mid-length terms carry the best rate in today’s rate environment.

How Much Can You Earn?

On a $10,000 deposit at SoFi’s approximate 12-month rate of 4.40% APY:

After 12 months: ~$10,440 ($440 in interest)
After 2 years (2-year CD at 3.88% APY): ~$10,791 ($791 in interest)
After 5 years (5-year CD at 3.38% APY): ~$11,818 ($1,818 in interest)

At a traditional big-bank standard savings rate of 0.01% APY: that same $10,000 earns just $1 after a year. SoFi’s 12-month CD rate is more than 400 times the standard big-bank rate.

Early Withdrawal Penalties

Term	Penalty
12 months or less	~90 days of interest
More than 12 months	~180 days of interest

Example: Break a 12-month SoFi CD at 4.40% APY after 3 months with $10,000. You’d earn ~$110 in interest but forfeit 90 days of interest (the same ~$110). Effective return: $0 for 3 months. Early withdrawal penalties effectively punish you most severely in the first half of the term — always plan to hold a CD to maturity.

SoFi CD vs. Online Bank Competitors

	SoFi	Ally	Marcus	Capital One 360
Best 12-month APY	~4.40%	~4.50%	~4.45%	~4.45%
Minimum deposit	$0	$0	$500	$0
No-penalty CD	No	Yes (11 months)	No	No
Early withdrawal (12-mo)	~90 days interest	60 days interest	90 days interest	6 months interest
Full banking suite	Yes	Yes	No (savings/CD only)	Yes
FDIC insured	Yes	Yes	Yes	Yes

SoFi competes well on APY and has the broadest product suite of the group, including investing accounts, personal loans, and insurance. If you’re already using SoFi for other products, adding a CD is frictionless. If you’re only looking for the best CD rate in isolation, Ally’s no-penalty option and slightly higher rate on some terms give it an edge.

The SoFi Ecosystem Advantage

SoFi is more useful if you use multiple products together. Current SoFi members can:

Transfer funds between their SoFi Checking, Savings, and CD accounts without leaving the app
Track CD maturity dates alongside investment accounts
Potentially earn bonus APY on their savings account by qualifying for SoFi member benefits (having direct deposit set up)

If you’re considering SoFi CD primarily as a new customer with no existing SoFi relationship, compare it against Ally and Capital One first — the rate difference may not justify onboarding to a new platform.

CD Maturity and Renewal

SoFi CDs automatically renew at maturity into the same term at the prevailing rate. SoFi provides a 10-day grace period after the maturity date during which you can withdraw funds, change the term, or add money without penalty.

Pay attention to renewal notifications. If rates have fallen since you opened your original CD, your renewal rate will be lower. Review your options 2–4 weeks before maturity.

Who Should Open a SoFi CD?

Best for:

Existing SoFi banking or investing customers who want to consolidate savings in one place
Savers who want a competitive fixed rate with no minimum deposit requirement
People comfortable with fully digital banking — SoFi has no physical branches

Consider alternatives if:

You need penalty-free access before maturity (Ally’s no-penalty CD)
You want the absolute highest rate available on each term regardless of institution
You prefer in-person banking access

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy