Members can earn up to 1.25% APY1 on their Checking and on Savings with direct deposits. That’s more than 41x2 the national average rate for a checking account!
Members without direct deposit will earn 0.70% APY which is 23x2 the national average.
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1SoFi Banking members with direct deposit can earn 1.25% annual percentage yield (APY) interest on their balances for their checking and savings accounts, plus the cumulative total of all Vault balances. Members without direct deposit will earn 0.70% APY on account balances. Interest rates are variable and subject to change at any time. Rate of 1.25% APY is current as of 4/5/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
241x based on average interest checking of 0.03% from the weekly rate cap as of 11/15/21.
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