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2750 East Cottonwood Parkway #300
Cottonwood Heights, Utah 84121

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.


SoFi Bank, N.A. NMLS #696891, Member FDIC

SoFi Lending Corp. NMLS #1121636

234 1st Street, San Francisco, CA 94105

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How much can I contribute to a Traditional or Roth IRA?

4 months ago · Updated

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Contribution limits are established by the IRS and are subject to change. Historically, when the IRS has changed the maximum allowable contribution limits they have done so prior to the next tax year so taxpayers can prepare and update their contribution planning.

To view the current IRA contribution limits:

  1. Log in to your SoFi IRA account
  2. Scroll to the Annual Contribution section and select the information icon
    Picture1.png

     
  3. You can view the IRS contribution limits for both the current and previous tax years

    Picture2.png
     

 

To view your current SoFi IRA contributions, please refer to How can I view my annual contribution amount in my IRA?

 

A few things to keep in mind when determining what type of IRA to contribute to:

  • Contribution limits do not apply when you roll over an IRA account to another provider.
  • If contributing to a Roth IRA your contribution limit may be adjusted based on your income.
  • If contributing to a Traditional IRA, you can contribute the maximum amount unless your income is less than the max. However, whether or not you can take a tax deduction depends on a few factors, like income, filing status, or whether you (or your spouse) have a retirement plan at work. Please visit this IRS link or consult your tax advisor for more information.

 

Please note these limits apply to all contributions to all of your Traditional and Roth IRA accounts. These limits are not per account or investment firm.

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