Open Checking & SavingsUp to 4.00% APY (with Boost) · $0 account fees · FDIC insured up to $3M via SIDP
Claim $50 or $300 Bonus$50 with $1K+ eligible direct deposit · $300 with $5K+ · Posts after DD hits
Up to 4.00% APY on Savings (with the 0.70% Boost for new accounts), $50 or $300 direct deposit bonus, 0.50% APY on Checking, plus Invest, Loans, Credit Card & Insurance — all in one app. Here's our complete, independent breakdown. SoFi Bank, N.A. Member FDIC.
See this month's top-rated banks across savings, checking, business and home equity — updated live.
Independently ranked, FDIC-insured.
Up to 4.00%
Savings APY (with Boost)
$50 or $300
Direct deposit bonus
$0
Account fees
Up to $3M
FDIC via SIDP
SoFi's flagship combined Checking + Savings — highly competitive APY, $50 or $300 direct deposit bonus, and a single award-winning app. SoFi Bank, N.A. Member FDIC.
High-yield online savings
Up to 4.00% APY (with Boost) · $0 to open · $0 monthly fees
Open SavingsRare interest-bearing checking
0.50% APY · $0 account fees · 55,000+ fee-free Allpoint® ATMs
Open CheckingFounded in 2011 and now publicly traded on the NASDAQ, SoFi Technologies serves over 10 million members with a single goal: replace the fragmented mess of traditional finance with one elegant app.
Today, SoFi Bank, N.A. is a nationally chartered, FDIC-insured bank (Member FDIC) — and SoFi is the only major fintech offering checking, high-yield savings, investing, lending, credit cards, and insurance all in one place.
Members
10M+
Founded
2011
HQ
San Francisco
Charter
National Bank
Bank-grade security
256-bit encryption + biometric login
Award-winning app
4.8★ on iOS App Store · 1M+ reviews
Member perks
Planning sessions, member events, partner discounts
FDIC insured
Up to $3M via the SoFi Insured Deposit Program
Most banks make you juggle five apps. SoFi puts your entire financial life in one place.
Stocks, ETFs, options & crypto in one app.
$0 commission · $5 minimum to start
Refi smarter — federal or private.
Variable APR from 5.24% · Fixed from 4.99%
Up to $100,000 — no fees, ever.
Fixed APR from 8.99% to 29.99%
Mortgages & refis with VIP service.
As little as 3% down on a new home
Rewards that fund your goals.
Unlimited 2% cash back into eligible accounts
Protect what matters — fast.
Auto, home, life, renters & more in minutes
Free credit score, budgeting & money tracking.
Free for everyone — no SoFi account required
Takes about 3 minutes — no hard credit check.
Transfer any amount, or wait for your first direct deposit.
Unlock the highest APY and the $50 or $300 direct deposit bonus.
Watch your money work — interest credited monthly.
Open Checking + Savings online in minutes. Up to 4.00% APY (with Boost), $0 account fees, FDIC insured up to $3M via SIDP. SoFi Bank, N.A. Member FDIC.
Higher APY, bigger welcome bonuses, and zero monthly fees — our editor-picked alternatives across the two accounts that matter most.
SoFi FAQ
Yes. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC — a nationally chartered, FDIC-insured bank. Deposits are insured up to $250,000 per depositor, and additional FDIC insurance is available up to $3M through the SoFi Insured Deposit Program (SIDP).
As a digital-only bank, SoFi has no branch overhead. They pass those savings to customers in the form of competitive interest rates and zero account fees — a strategy used by most top-rated online banks.
Set up eligible direct deposit (any amount of paycheck, pension, or government benefits) or receive at least $5,000 in qualifying deposits during the 31-day evaluation period. Earn $50 with at least $1,000 in total eligible direct deposits, or $300 with at least $5,000 — both tiers received during the Direct Deposit Bonus Period.
The cash bonus is credited to your Checking account after eligible direct deposits post — typically 2–4 weeks after you set up direct deposit. The Direct Deposit Promotion is available through 12/31/2026.
The standard rate is up to 3.30% APY on Savings with eligible direct deposit. New accounts can earn an extra +0.70% APY Boost (for up to 6 months) by paying the $10 SoFi Plus subscription every 30 days OR receiving eligible direct deposits OR qualifying deposits of $5,000 every 31 days. Rates are variable and subject to change. APYs current as of 12/23/25.
Yes. Banking, investing, loans, credit card, and insurance all live in a single mobile app with one login.
SoFi's Savings APY (up to 4.00% with the Boost; 3.30% standard with eligible direct deposit) is typically higher than Capital One 360 Performance Savings and Marcus Online Savings, but those products differ materially: Capital One has a physical branch network and Marcus does not currently offer a checking account. Rates are variable and subject to change; compare current published rates and account features before deciding.
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