SoFi and Marcus by Goldman Sachs both offer high-yield savings with no fees — but they’re fundamentally different platforms. SoFi is a complete financial ecosystem with checking, investing, loans, and credit cards. Marcus is a focused savings and lending platform from Goldman Sachs. Here’s how to decide between them.
Correction note (September 19, 2026): This page previously stated SoFi savings pays “4.20% with direct deposit / 3.80% without” and checking pays “3.80%.” Both were incorrect. SoFi’s official rate sheet shows non-Plus members earn 3.10% APY with an Eligible Direct Deposit or $5,000+ in Qualifying Deposits (0.80% without), SoFi Plus subscribers ($10/month) can reach 4.50% on balances up to $20,000-$40,000, and checking pays a flat 0.50% APY. See the SoFi savings account guide for full sourcing. Marcus’s rate was not independently re-verified this session — confirm current Marcus and SoFi rates directly at each bank’s site.
SoFi vs Marcus: Quick Comparison
| Feature | SoFi | Marcus by Goldman Sachs |
|---|---|---|
| Bank type | Full-service online bank | Savings + CDs + personal loans |
| Savings APY | 3.30% (non-Plus, w/DD); up to 4.50% (Plus, ≤$20K-$40K) | Confirm current rate |
| Checking APY | Confirm current rate | Not available |
| Monthly fees | $0 | $0 |
| Checking account | ✅ | ❌ |
| Investing | ✅ (SoFi Invest) | ❌ |
| Personal loans | ✅ | ✅ |
| Student loan refi | ✅ | ❌ |
| Mortgage | ✅ | ❌ |
| Credit card | ✅ (SoFi Credit Card) | ❌ |
| ATMs | 55,000+ Allpoint | ❌ |
| FDIC insured | Yes ($250,000) | Yes ($250,000) |
Savings Accounts
| Feature | SoFi Savings | Marcus High-Yield Savings |
|---|---|---|
| APY (non-Plus, w/ DD or Qualifying Deposits) | 3.30% | Confirm current rate (no DD required) |
| APY (non-Plus, without) | 0.80% | Confirm current rate |
| APY (SoFi Plus, $10/mo, ≤$20K-$40K) | 4.50% | N/A |
| Minimum balance | $0 | $0 |
| Minimum to open | $0 | $0 |
| Monthly fee | $0 | $0 |
| Savings vaults | ✅ (organize by goal) | ❌ |
| Round-ups | ✅ | ❌ |
| Auto-save | ✅ | ✅ (recurring transfers) |
| Joint accounts | ✅ | ✅ |
| Trust accounts | ✅ | ✅ |
Savings Earnings Comparison
| Balance | SoFi (3.30% non-Plus, w/DD) | SoFi (0.80% non-Plus, no DD) | SoFi Plus (4.50%, ≤$20K) |
|---|---|---|---|
| $1,000 | $31/yr | $8/yr | $45/yr |
| $5,000 | $155/yr | $40/yr | $225/yr |
| $10,000 | $310/yr | $80/yr | $450/yr |
| $20,000 | $620/yr | $160/yr | $900/yr |
Winner: Depends on the tier. Marcus’s flat rate (confirm current figure) likely beats SoFi’s standing 3.30% non-Plus rate outright. SoFi only pulls ahead if you pay for SoFi Plus and stay under its $20,000-$40,000 balance ceiling, or catch SoFi’s current promotional boost (up to 4.20%, limited time, direct deposit required).
Checking Account
| Feature | SoFi Checking | Marcus |
|---|---|---|
| Available | ✅ | ❌ |
| APY (with direct deposit) | Confirm current rate | N/A |
| APY (without) | Confirm current rate | N/A |
| Monthly fee | $0 | N/A |
| Overdraft coverage | ✅ (up to $50) | N/A |
| Debit card | ✅ (Mastercard) | N/A |
| ATM network | 55,000+ Allpoint | N/A |
| Zelle | ❌ | ❌ |
| Early direct deposit | ✅ (up to 2 days) | N/A |
| Mobile check deposit | ✅ | N/A |
| Bill pay | ✅ | N/A |
| Cashback on purchases | 2% (credit card) | N/A |
SoFi Checking APY
SoFi’s checking account pays a flat 0.50% APY regardless of direct deposit status, per SoFi’s official rate sheet.
Note: SoFi wins by default on checking — Marcus does not offer a checking account at all.
CD Rates
| Term | SoFi | Marcus |
|---|---|---|
| 6-month | N/A | 4.40% |
| 12-month | N/A | 4.50% |
| 18-month | N/A | 4.15% |
| 24-month | N/A | 3.90% |
| No-penalty CD | N/A | 4.00-4.30% (7/11/13-mo) |
SoFi does not currently offer CDs. Marcus offers a full CD lineup with no-penalty options.
Winner: Marcus — SoFi has no CD products.
Personal Loans
| Feature | SoFi | Marcus |
|---|---|---|
| Loan amounts | $5,000-$100,000 | $3,500-$40,000 |
| APR range | 8.99-29.99% | 7.49-28.99% |
| Terms | 24-84 months | 36-72 months |
| Origination fee | $0 | $0 |
| Late fee | $0 | $0 |
| Prepayment penalty | $0 | $0 |
| Unemployment protection | ✅ (forbearance) | ❌ |
| Direct to creditors | ✅ | ✅ |
Winner: SoFi for larger loans (up to $100K) and unemployment protection. Marcus for lower starting APR and smaller loan amounts.
Student Loan Refinancing
| Feature | SoFi | Marcus |
|---|---|---|
| Available | ✅ | ❌ |
| Loan amounts | $5,000-$500,000+ | N/A |
| Fixed APR | From 4.49% | N/A |
| Variable APR | From 5.49% | N/A |
| Unemployment protection | ✅ | N/A |
| Welcome bonus | Up to $500 | N/A |
Winner: SoFi — one of the top student loan refinancing platforms. Marcus doesn’t offer this.
Investing
| Feature | SoFi Invest | Marcus |
|---|---|---|
| Available | ✅ | ❌ |
| Stock/ETF trades | $0 | N/A |
| Fractional shares | ✅ ($5 minimum) | N/A |
| Crypto trading | ✅ | N/A |
| Robo-advisor | ✅ (SoFi Automated) | N/A |
| Robo-advisor fee | 0% | N/A |
| IRA accounts | ✅ (1% match on contributions) | N/A |
| IPO access | ✅ | N/A |
| Options trading | ✅ | N/A |
SoFi Invest’s standout: 1% IRA contribution match — rare among brokerages.
Winner: SoFi — Marcus has no investing platform.
Credit Card
| Feature | SoFi Credit Card | Marcus |
|---|---|---|
| Available | ✅ | ❌ |
| Cashback rate | 2% on everything | N/A |
| Redemption bonus | Points worth more in SoFi ecosystem | N/A |
| Annual fee | $0 | N/A |
| Cell phone protection | ✅ | N/A |
Winner: SoFi — 2% cashback with no annual fee is competitive.
Mortgage
| Feature | SoFi | Marcus |
|---|---|---|
| Available | ✅ | ❌ |
| Purchase loans | ✅ | N/A |
| Refinance | ✅ | N/A |
| Down payment | As low as 3% | N/A |
| Rate discount | 0.125% for SoFi members | N/A |
Winner: SoFi — another product Marcus doesn’t offer.
Mobile App
| Feature | SoFi | Marcus |
|---|---|---|
| App rating (iOS) | 4.8/5 | 4.8/5 |
| All accounts in one app | ✅ (banking, investing, loans, credit) | Savings + loans only |
| Savings vaults | ✅ | ❌ |
| Round-ups | ✅ | ❌ |
| Credit score | ✅ | ❌ |
| Financial planning tools | ✅ (SoFi Relay) | ❌ |
| Early direct deposit | ✅ | N/A |
| Zelle | ❌ | ❌ |
Winner: SoFi — far more features and a unified app for all financial products.
SoFi Member Benefits
SoFi offers additional perks for members (anyone with a SoFi account):
| Benefit | Details |
|---|---|
| Career coaching | Free career counseling sessions |
| Financial planning | Free access to SoFi CFPs |
| Member events | Networking and educational events |
| Rate discounts | 0.125% off mortgage and other loans |
| SoFi Relay | Free credit monitoring and net worth tracking |
| SoFi Stadium access | Member events at SoFi Stadium (LA) |
Marcus offers no comparable member benefits program.
Customer Service
| Factor | SoFi | Marcus |
|---|---|---|
| Phone support | Mon-Fri 8am-10pm ET, weekends reduced | Mon-Fri 8am-10pm ET, shorter weekends |
| Chat | In-app | In-app |
| Customer satisfaction | Good | Good |
| US-based | Mostly | Yes |
Winner: Tie — similar support hours and quality.
Who Should Choose SoFi?
| Scenario | Why SoFi |
|---|---|
| One app for everything | Banking, investing, loans, and credit all in one |
| High-yield checking | 0.50% APY on checking (highest among comparable online banks) |
| Student loan refinancing | One of the best platforms available |
| Free investing with IRA match | 1% IRA contribution match is a standout perk |
| 2% cashback credit card | No annual fee, redeemable to SoFi accounts |
| Early direct deposit + fee-free ATMs | Practical everyday banking advantages |
| Simplify financial life | One platform, one login, one dashboard |
Who Should Choose Marcus?
| Scenario | Why Marcus |
|---|---|
| Only need high-yield savings | Flat rate, no direct deposit requirement — confirm current Marcus rate |
| CD laddering | Full CD lineup including no-penalty options |
| Personal loan at low APR | Starting at 7.49% APR |
| Already have checking elsewhere | No need to switch banking |
| Prefer Goldman Sachs brand | Well-established financial institution |
| Simplest possible savings | Nothing to configure, just deposit and earn |
Product Availability Summary
| Product | SoFi | Marcus |
|---|---|---|
| High-yield savings | ✅ | ✅ |
| Checking | ✅ | ❌ |
| CDs | ❌ | ✅ |
| Personal loans | ✅ | ✅ |
| Student loan refi | ✅ | ❌ |
| Mortgage | ✅ | ❌ |
| Investing | ✅ | ❌ |
| Credit card | ✅ | ❌ |
| Crypto | ✅ | ❌ |
Bottom Line
| Category | Winner |
|---|---|
| Savings APY | Marcus (flat rate, no DD required, vs. SoFi’s 3.30% non-Plus standing rate) |
| Checking | SoFi (Marcus doesn’t offer one) |
| CDs | Marcus (SoFi doesn’t offer them) |
| Personal loans | Tie (different strengths) |
| Student loans | SoFi |
| Investing | SoFi |
| Credit card | SoFi (2% cashback, no AF) |
| Product range | SoFi (8+ product categories) |
| Mobile app | SoFi (more comprehensive) |
| Simplicity | Marcus |
| Best for most people | SoFi |
SoFi is the better choice for most people — it’s a genuinely complete financial platform where you can bank, invest, borrow, and earn credit card rewards all in one app. Marcus is better if your only goal is maximizing savings interest without a direct deposit requirement or a paid subscription — confirm current rates at both before deciding, since SoFi’s standing non-Plus rate (3.30%) may trail a flat-rate competitor.
For a full review of Marcus by Goldman Sachs, see Marcus review. For a full review of SoFi Banking, see SoFi review. For the full high-yield savings market comparison, see savings accounts guide.
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