Highest APY: When you make monthly direct deposits into your SoFi Checking and Savings account, you are eligible to earn our highest APY on the balances for your SoFi Checking and Savings accounts, plus the cumulative total of all Vault balances. (See How do I get the Highest APY?)
Local Offers: Get rewarded for using your debit card and earn cash back when you use your SoFi Checking and Savings debit card at local stores and restaurants. Cashback offers rotate, so check the SoFi app frequently to see the most up-to-date list of offers. (See Local Cashback Offers)
Overdraft Coverage: You shouldn't be charged if you accidentally spend more than you have. That's why we cover up to $50 in overdrafts with no fees. Overdraft Coverage is activated when you set up monthly direct deposits totaling $1,000 or more. (See 'What is Overdraft Coverage?' for more information)
Interest rates are variable and subject to change at any time. The APY rate is current as of 6/28/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.