Three Cheers for Better Banking: SoFi Checking and Savings Is Here!

The time has come: We’re thrilled to announce SoFi Checking and Savings is now available to everyone! Starting today, members will be able to get 1.00% APY1 on checking and savings with direct deposit, set up automated savings, and enjoy an improved user experience. We’re proud to be making it easier than ever for people to get their money right with more customizable options than ever, all in the palm of your hand, wherever you are.

For all our current members, upgrading will be sweet and simple – answer a few basic questions, and review our new terms and conditions. Your account will be reviewed and upgraded quickly, and you’ll be on your way to start setting up your accounts and auto deposits and savings to your preference.

For our new members, you can sign up here! We’re thrilled to have you join the SoFi family, and experience the benefits of our extensive suite of products and services. From getting a better insight into your spending and habits from SoFi Financial Insights, also known as Relay2, to maximizing your money with 2% cashback3 on the SoFi Credit Card, we’re here for you at every turn to help you meet your financial goals.

If you still have questions, see more details here:

SoFi Checking and Savings is offered through SoFi Bank, N.A.

1SoFi Banking members with direct deposit can earn up to 1.00% annual percentage yield (APY) interest on the first $50,000 of their balances for their checking and savings accounts, plus the cumulative total of all Vault balances, for up to $150,000 total deposits. Balances over $50,000 in each category will earn 0.05% APY. Members without direct deposit will earn 0.25% APY on account balances. Interest rates are variable and subject to change at any time. Rate of 1.00% APY is current as of 12/15/2021. Additional information can be found at https://

2SoFi’s Relay tool offers users the ability to connect both in-house accounts and external accounts using Plaid, Inc’s service. The credit score provided to you is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

The SoFi Credit Card is issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

3Members earn 2 rewards points for every dollar spent on eligible purchases. If you elect to redeem points for cash deposited into your SoFi Checking or Savings account, SoFi Money® account, fractional shares or cryptocurrency in your SoFi Active Invest account, or as a payment to your SoFi Personal or Student Loan Refinance, your points will redeem at a rate of 1 cent per every point. If you elect to redeem points as a statement credit to your SoFi Credit Card account, your points will redeem at a rate of 0.5 cents per every point. For more details please visit Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.

TLS 1.2 Encrypted
Equal Housing Lender