A certificate of deposit (CD) is a savings tool that earns interest in a lump sum for a specific time period but remains untouched the entire time or risks early withdrawal penalty fees. CDs reward you with a higher interest rate for the lack of liquidity.
SoFi does not currently offer CDs. However, we offer Vaults that can be used for long-term savings goals and still earn the same interest rate as your Checking and Savings account, which is higher than the national average for even a 5 year CD!
Additionally, we offer no commission investing with our SoFi Invest accounts, which allow you to invest in multiple ways to help achieve your long-term financial goals and dreams!
Stay tuned as SoFi is always looking to add new products to our roster to best meet our Member needs