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Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 10/20/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet.


Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.


Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.


Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility. See additional details at https://www.sofi.com/legal/banking-rate-sheet.


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How do I connect my bank link to a SoFi Invest account?

4 months ago · Updated

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    • SoFi App

    To link bank accounts for ACH deposits/withdrawals via the mobile app, go to your SoFi Invest account on the app, tap on the “Trade” button in the bottom right corner of the screen, select ‘Add cash’ and follow the steps below. You can also click on this link to open the 'transfers' page.

    1. Tap on 'From'.
      Image from "How do I connect my bank link to a SoFi Invest account?"
    2. Select, 'Link new account'.

    3. You will be redirected to our 3rd party partner, Plaid.
      mceclip4.png
    4. Select 'Continue'.
    5. Select the appropriate banking institution from the list provided, or use the 'Search' tool.
      mceclip5.png
      1. Note: Accounts previously connected to Plaid will auto-populate
        Plaid_returning_user.png
    7. Follow along with the rest of the prompts to finish connecting your account!

    You can now schedule your deposit with your new bank link. Enter the amount you want to deposit then tap on ‘Review deposit’ then you will ‘Confirm’ the deposit.

     

    SoFi Website

    To link bank accounts for ACH deposits/withdrawals via the website, go to your SoFi Invest account on SoFi.com, click on ‘Add cash’, and follow the steps below. You can also click on this link to open the 'transfers' page.

    1. Click on 'From' or 'To'.
      mceclip6.png
    2. Select, 'Manage bank accounts'.
      mceclip7.png
    3. Click on ‘Connect a new bank account’.
      mceclip8.png
    4. If you have bank accounts previously linked to your Invest account or linked to some of your other SoFi accounts, you have the option to click on one of those. Otherwise, please click on ‘View other transfer options’.
      mceclip9.png
    5. Select ‘Connect a bank’ and click on ‘Next’.
      mceclip10.png
    6. You will be redirected to our 3rd party partner, Plaid.
      mceclip11.png
    7. Select 'Continue'.
    8. Select the appropriate banking institution from the list provided, or use the 'Search' tool.
      mceclip12.png
    9. Follow along with the rest of the prompts to finish connecting your account!

    You can now schedule your deposit with your new bank link. Enter the amount you want to deposit then tap on ‘Review deposit’ then you will ‘Confirm’ the deposit.

     

    Eligible Bank Links
    You can link a personal checking or savings account to your SoFi Invest account. We are not able to link to business accounts, 3rd party accounts, custodial accounts, credit cards, or prepaid debit card accounts.

    • Please make sure you are the owner on the external account. Your name and SSN on file must match on both accounts.
    • External Plaid Issues: Unfortunately some financial institutions may experience issues with Plaid that can temporarily prevent you from linking an account. We do not have control over this and apologize for any frustration this may cause. If you experience issues with plaid please follow the instructions listed in this article: New Article: Manually Connect Your Bank account to Invest account without Plaid
    • Document Upload Requests: If documents are required to verify your account, please follow the instructions to upload the documents to your SoFi account. Please allow us time to review once your documents have been provided.
    • Please note that we are only able to link to a personal checking/savings account. We cannot link to business accounts, third-party accounts, prepaid card accounts, and PayPal/Venmo accounts.
    • If you are having another issue with linking a bank account to your SoFi Invest account, please chat with a SoFi Invest Live Agent.