SoFi became a bank in order to bring you the best features, including a simple, market-leading interest rate of 3.25% APY on your Savings & Vaults balances and 2.50% APY on your Checking balances (requires active direct deposit).
Members without direct deposit will earn 1.20% APY on Checking and Savings deposits.
Go to the SoFi app or sofi.com to get started and remember to set up direct deposit to earn 3.25% APY on your Savings & Vaults balances and 2.50% APY on your Checking balances.
Note: There is no minimum direct deposit amount required to earn our highest APY or 2-Day Early Paycheck, however, we do require $1,000 of monthly direct deposit inflows to unlock No-Fee Overdraft Coverage.