University of Delaware Tuition Costs and Fees
University of Delaware Tuition and Fees
(Last Updated – 02/2025)
The University of Delaware is a public research university in Newark, Delaware known for its strong programs in engineering, business, and science. It offers more than 150 majors, along with robust research opportunities. The university also has a vibrant student life, with more than 400 student-led organizations and clubs on campus. Here’s an overview of University of Delaware tuition costs for both in-state and out-of-state students, housing and other costs, as well as Delaware’s acceptance rate.
Total Cost of Attendance
|
Expenses |
In-State |
Out-of-State |
|
Tuition & Fees |
$16,080 |
$39,720 |
|
Books & Supplies |
$1,000 |
$1,000 |
|
Room & Board |
$14,838 |
$14,838 |
|
Other Expenses |
$1,800 |
$1,800 |
|
Total Cost of Attendance |
$33,718 |
$57,358 |
Financial Aid
At the University of Delaware, 92% of students take out some form of financial aid. This might be in the form of student loans, grants, scholarships, or a combination of those different types of aid to help pay for University of Delaware costs.
For instance, 18% of Delaware students have Pell Grants, a type of federal funding for undergraduates with exceptional financial need.
Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.
The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:
• Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, or financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, or non-profit organizations.
• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.
• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.
Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state, federal, and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
• US Department of Education — Search for grants from colleges and universities by state
• College Scholarship Service Profile (CSS) — A global college scholarship application used by select institutions to award financial aid
• SoFi Scholarship Finder — Use our handy tool to streamline your search by award type, location, level of study, and more.
Recommended: Delaware Student Loans & Scholarships
Private Student Loans
Many students at the University of Delaware take out student loans to help cover Delaware tuition. That includes 55% of students who take out federal student loans, and 13% who take out private student loans. Those private loans average $25,162 per academic year.
Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.
What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans, which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.
Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, since it generally has better rates and terms.
If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.
Recommended: Guide to Private Student Loans
Projected 4-Year-Degree Price
The University of Delaware costs for four years, including tuition, fees, room and board, books, and other expenses would be $134,872 for Delaware residents (based on 2023-24 numbers). This is somewhat higher than the national average of $115,369 for in-state students at public universities.
For residents of other states, the four-year total cost of the University of Delaware would be $229,432, which is more than the national average for out-of-state students at public universities of $186,920.
This student loan and scholarship information may be valuable as you research schools and costs.
Undergraduate Tuition and Fees
Costs for 2023-24
The University of Delaware tuition for in-state students in 2023-24 was $16,080, which is higher than the national average of $11,260 for in-state tuition at public institutions.
The University of Delaware out-of-state tuition was $39,720, which is higher than the national average for out-of-state tuition of $29,150.
Graduate Tuition and Fees
|
Expenses |
In-State |
Out-of-State |
|
Tuition |
$18,504 |
$18,504 |
|
Fees |
$1,042 |
$1,042 |
|
Total Cost |
$19,546 |
$19,546 |
The average cost to attend graduate school at the University of Delaware, including tuition and fees, was $19,546 in 2023-24. This is lower than the average annual graduate school tuition and fees in the U.S., which is $21,730.
There are graduate loans available to help with these costs.
Cost per Credit Hour
For students who opt to attend University of Delaware on a part-time basis, which would be less than 12 credits per semester, the cost per credit hour is $608 for Delaware residents and $1,633 for out-of-state residents.
Certificates
At the University of Delaware, undergraduate students can earn certificates in business, design, innovation, and leadership.
For instance, students earning a non-business degree can complete a certificate program to learn business fundamentals such as accounting, management, finance, and economics. Upon completing the program, a student earns at least 13 academic credits.
Or undergrads can opt for a certificate in innovation and entrepreneurship. There are seven different certificates they can choose from. Each certificate requires 9 to 10 credits.
Campus Housing Expenses
|
Expenses |
On-Campus |
Off-Campus |
|
Books & Supplies |
$1,000 |
$1,000 |
|
Room & Board |
$14,838 |
$14,838 |
|
Other Expenses |
$1,800 |
$1,800 |
Freshmen and first-year students are required to live on campus in one of the university’s 11 first-year residence halls. The University of Delaware offers traditional, suite-style, and apartment-style residences.
After the first year, there are many duplexes, apartments, and houses located close to the university for those who choose to live off-campus.
University of Delaware Acceptance Rate
|
Number of Applications |
Number Accepted |
Percentage Accepted |
|
37,690 |
24,4984 |
65% |
The University of Delaware acceptance rate is 65%, making the school somewhat selective.
Admission Requirements
Here’s what you’ll need to submit along with your application if you’re applying for admission to the University of Delaware.
Required:
• High school transcript
• Non-refundable $75 application fee
Optional:
• SAT or ACT scores
• Up to two letters of recommendation
The deadline for Early Action is November 1, and a decision will be given by January 31. The deadline for regular admission is January 15; decisions will be given by mid-March.
SAT and ACT Scores
Although standardized test scores are not required at the University of Delaware, it can be helpful to see the scores of students who opted to submit their scores and were accepted to the school. These are the standardized test scores at the 25th and 75th percentile for students who enrolled in the fall of 2023.
|
Subject |
25th Percentile |
75th Percentile |
|
SAT Evidence-Based |
610 |
680 |
|
SAT Math |
590 |
680 |
|
ACT Composite |
27 |
31 |
|
ACT English |
27 |
33 |
|
ACT Math |
25 |
29 |
Popular Majors at the University of Delaware
The University of Delaware has an emphasis on business and science programs, but it offers much more. Here are some of the most popular majors.
1. Finance
Finance students learn financial strategies and concepts that they can use in careers in the private sector, government, consulting firms, public companies, or nonprofits.
Undergraduate degrees in 2022-23: 273
2. Psychology
Psych majors take courses like Adolescent Development and Educational Psychology, Research Methods, Measurement and Statistics, and more.
Undergraduate degrees in 2022-23: 215
3. Nursing
Future nurses take classes like Family Health & Wellness, Medical Microbiology and Infectious Diseases, and Nursing Care of Children. They also get hands-on experience in a state-of-the-art clinical simulation laboratory and resource center on campus.
Undergraduate degrees in 2022-23: 196
4. Marketing
Students in this program learn about pricing, distributing, and promoting products, as well as how to leverage marketing and advertising techniques to build brand awareness. They go on to become market research analysts, media planners, social media coordinators, brand managers, and more.
Undergraduate degrees in 2022-23: 192
5. Communication
Those pursuing a Communications degree gain knowledge and skills in oral communication, video production, broadcast journalism, and public relations. This prepares them for careers in fields such as public relations, journalism, higher education, and public policy.
Undergraduate degrees in 2022-23: 185
6. Biology
Students can pursue a Bachelor of Arts (BA) or Bachelor of Science (BS) in biology, which is the study of living organisms and their environments. The B.A. provides excellent preparation for advanced study in graduate school or professional programs; the B.S. offers the opportunity for highly motivated students to pursue the curriculum in greater depth.
Undergraduate degrees in 2022-23: 169
7. Mechanical Engineering
Mechanical Engineering majors learn about the design and analysis of machines, structures, and materials, as well as the principles of physics and materials science. Areas of study include Fluid Mechanics, Materials, Dynamics, Biomechanical Engineering, and Clean Energy and Environment.
Undergraduate degrees in 2022-23: 136
8. Computer Science
Coursework in this program includes Data Structures; Computers, Ethics, and Society; Probability Theory and Simulation Methods; Operating Systems; and Logic and Programming.
Undergraduate degrees in 2022-23: 134
9. Criminal Justice
Students take such classes as Problems of Corrections, Sociological Research, Abnormal Psychology, Constitutional Law, and Problems of Law Enforcement as they work to earn their Criminal Justice degree.
Undergraduate degrees in 2022-23: 129
10. Exercise Science
This is a pre-professional program that prepares students to go on to graduate studies in physical therapy, occupational therapy, physician assistant, medical and dental school, or advanced graduate training in exercise science.
Undergraduate degrees in 2022-23: 107
Graduation Rate
Although many University of Delaware students complete their degree in four years, some students take six years to finish. Here are the graduation rates at the University of Delaware for students who began in the fall of 2017:
• 4 years: 72%
• 6 years: 81%
Post-Graduation Median Earnings
University of Delaware graduates earn a median annual salary of $72,950. This is significantly higher than the median annual salary for all graduates of four-year colleges, which is $53,747.
Bottom Line
Whether you’re getting your undergraduate degree or continuing on to graduate studies, the University of Delaware offers a solid education for a competitive price. The Delaware acceptance rate is high, which can help your chances of admission. Plus, the many financial aid options available can make your schooling more affordable.
SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
SOISL-Q125-004
Why 9 in 10 People Take the Standard Tax Deduction
This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.
Most of us understand the gist of income taxes. In order to fund the government, we pay taxes on our income. The more we make, the more we’re taxed.
What’s not as well understood is the role of tax deductions. Tax deductions lower our taxable income and in turn, our tax bill. In other words, some of our income ends up being off limits to taxes.
But how much is deducted? That’s actually up to us taxpayers to decide — sort of. Here’s how it all works and what could change in 2026.
Tax Deductions 101
It’s safe to say most taxpayers want to get the biggest tax deduction they can. But every year you have to decide: Are you better off with the standard deduction amount?
The answer is often yes. The standard deduction will likely be the higher amount for people who don’t have many tax deductible expenses.
But before we explore the choices, let’s take a step back to review the purpose of deductions. The government uses tax deductions as incentives to save for retirement, buy a house, go to college or invest in the economy in other ways. Deductions are also a form of financial relief for people with certain types of expenses, like high medical costs or alimony payments.
And not everyone thinks they’re a good idea: Some economists say deductions should be eliminated since income tax is such a big source of government revenue.
Tax deductions have been a part of the U.S. tax code since the first income tax was passed to pay for the Civil War. Back then, you could only deduct other tax payments — like state and local taxes — but over time the number of deductible expenses has grown. (The IRS has a list posted here.)
Claiming individual tax deductions involves adding them up, or “itemizing” them, on a separate form (Schedule A) of the 1040 tax return. You must make sure to meet any caps or restrictions for eligibility.
The SALT deduction, as the deduction for state and local taxes is known today, is still one of the most frequently claimed, along with the deductions for mortgage interest and charitable contributions, according to the Peter G. Peterson Foundation, a non-profit think tank focused on fiscal policy.
Itemizing Vs. Taking the Standard Deduction
If itemizing deductions sounds like work, it is. That’s why Congress gave people a shortcut in 1944 by introducing the standard deduction. It allowed everyone — even if they weren’t a tax whiz — to shave a set amount off their taxable income.
The standard deduction is the same for almost everyone within the same tax filing status. For example, for the 2024 tax year, the standard deduction for a single filer is $14,600. So regardless of their situation, a single filer gets to subtract $14,600. (For married couples filing jointly, the 2024 standard deduction is $29,200 and for those filing as head of household, it’s $21,900.)
So which option will reduce your taxable income more? While everyone’s circumstances are different, the standard deduction tends to be more valuable for most people, particularly since Congress nearly doubled the amount in 2018, according to the Peterson Foundation. These days, roughly 9 in 10 taxpayers take it, according to the IRS.
(Note: While you can’t itemize and take the standard deduction amount, it’s not entirely one or the other: There are actually some types of deductions, like student loan interest, that can be claimed on top of the standard deduction. These are sometimes called “above-the-line deductions.”)
The Tax Cuts and Jobs Act
Why did the standard deduction get so much bigger in 2018? The Tax Cuts and Jobs Act, passed in 2017, increased standard deduction amounts as part of a broad tax code overhaul that also limited several itemizable deductions. For single filers, for example, the standard deduction jumped from $6,350 to $12,000 in one year and has edged higher every year since to reflect an increase in the cost of living.
It’s important to note that many of the provisions in the TCJA — including the higher standard deductions — are set to expire at the end of this year, so the dynamic could shift again. Before the law was enacted, roughly 30% of taxpayers chose to itemize, according to the Peterson Foundation.
That said, lawmakers are expected to preserve the majority of TCJA provisions beyond this year now that Republicans are back in control in Washington, Bloomberg Government reported last month. The TCJA was originally passed by a Republican majority in Congress.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
OTM2025031201
Read moreWhy the New Social Trend Is Freezing Your Credit
This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.
The newest personal finance trend sweeping social media: Freeze your credit.
A credit freeze refers to blocking access to your credit reports, which are kept by three national credit bureaus — Equifax, Experian, and TransUnion. Since lenders check those reports as part of their approval process, the freeze prevents would-be identity thieves from taking out a loan or opening an account in your name.
But what’s behind it?
For some, it’s fear that the Department of Government Efficiency’s shakeup of government agencies could make consumer databases more vulnerable just as staffing and budgets are shrinking. For others, it’s concern about the increasingly sophisticated phishing emails and imposter scams that surface every tax season. Either way, it’s a good proactive measure whenever you’re worried that private details could get into the wrong hands.
And there’s no real downside: Freezing your credit is free and simple. Here’s how to do it.
• Contact each of the bureaus separately, either online or over the phone. Here are the online links:
Equifax, Experian, and TransUnion.
• Follow the prompts to request a freeze.
• If and when you need your credit reports to be accessible again (when you’re buying a car or house or applying for a credit card, for example,) you must unfreeze them. It takes about an hour, and you can lift the freeze either temporarily or permanently.
You can also place a fraud alert on any of your three credit reports (the bureau you contact is required to tell the other two bureaus, so you only have to do it once.) A fraud alert doesn’t put a freeze on your credit, but it does safeguard you by telling lenders to check with you before opening an account in your name. It lasts for one year.
Another way to protect yourself: Sign up for credit score monitoring so you’ll get alerts about suspicious activity. (For SoFi members, it’s free.)
So what? Identity theft costs billions of dollars each year, and when criminals get their hands on your personal information, it can wreck your credit score and lead to legal problems. Freezing your credit is an easy way to reduce the risk.
Related Reading
• Freezing Your Credit Files Online: Step-by-step Guide With Screenshots (U.S. PIRG)
• Top Scams of 2024 (Federal Trade Commission)
• Credit Freeze vs. Credit Lock: What Is the Difference? (SoFi)
photo credit: iStock/FTiare
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
OTM20250312SW
Read moreSoFi Banking
{/* Banking 9/24/24 – New Centered Hero 4.60% */}
{/* New Style Hero */}
-
Pay no account fees
No account, overdraft, or monthly fees^—just great banking.
-
Earn up to $300 with direct deposit†
Earn $50 or $300 with eligible direct deposit. See terms.
-
Earn up to 3.60% APY with direct deposit1
Unlock 9x2 the national average savings rate with eligible direct deposit. See terms.
-
Access additional FDIC insurance up to $3M6
on deposits through a seamless network of participating banks. Learn more and opt in here.6
{/* Hero Centered Blue */}
SoFi Checking and Savings
Better banking is here. Up to 3.60% APY1 and FDIC insurance up to $3M.
-
Pay no account fees
No account, overdraft, or monthly fees^—just great banking.
-
Earn up to $300 with direct deposit†
-
Earn up to 3.60% APY with direct deposit1
That’s 9x the national average savings rate.2
-
Access additional FDIC insurance up to $3M6
on deposits through a seamless network of participating banks.Learn more and opt in here.6
{/*Trust Pilot Mod*/}
{/* Heres how to get $250 bonus */}
Here’s how to get a better
banking bonus up to $300.†
Sign up and set up direct deposit.
Wait for your direct deposit to hit your account (typically 2-4 weeks).
Collect a cash bonus of $50 to $300 depending on your direct deposit amount.
{/* Summer Travel boxes */}
{/*
*/}
{/* Holiday boxes */}
{/* WHAT DOES BETTER BANKING LOOK LIKE? UPDATED 11Feb25*/}
What does a better online bank account look like? This.
No account fees^
No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.3
Up to 3.60% APY1
with SoFi Plus 
Members with direct deposit can unlock SoFi Plus and earn 3.60% APY on their savings and Vaults balances, and 0.50% APY on their checking balances.
Up to 2-day-early-paycheck*
Feel the magic of payday up to two days earlier—automatically—when you set up direct deposit.
No-fee Overdraft Coverage
Overspent by accident? No problem. You’ll be covered up to $50 with no fees with direct deposit of at least $1,000.4
Do it all in one app.
Pay bills, deposit checks, send money, manage your digital wallet, and get live customer support 7 days a week, all in the SoFi app.
Additional FDIC Insurance
Access additional insurance up to $3M on deposits through a seamless network of participating banks. Learn more and opt in here.6
{/* Horizon */}
{/*Get award winning banking NEW 2025 Assets Updates*/}
Get award-winning banking.
See for yourself why SoFi won 10 banking awards from 9 industry publications last year.
Open an account
Awards or rankings are not indicative of future success or results. Neither SoFi Bank, N.A. nor its employees paid a fee in exchange for ratings. Awards and ratings are independently determined and awarded by their respective publications.
{/* Savings rates above the national average */}
Savings rates that are way above the national average.
2
You make more on your money when you bank with SoFi. Get ready to earn 3.60% APY—that’s 9x the national average savings rate—on your savings and Vault balances.
{/* Mobile banking made easy */}
{/* Experience 50x the national average HIDDEN*/}
Experience 9x the national average
checking account rate.2
Yeah, you read that right. With no account fees and up to 3.60% APY1^, you’ll earn more interest in five weeks than you would in one year in a big bank’s checking or savings account—so you can get the most out of your money.
{/* No Account Fees HIDDEN*/}
Say yes to no account fees.
It’s exactly what it sounds like. No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.3
{/* Early Bird Paychecks HIDDEN*/}
Early bird paychecks.
With 2-day-early-paycheck* you’ll feel the magic of payday up to two days earlier—automatically—when you set up direct deposit.
{/* What else can a better online HIDDEN*/}
What else can a better online bank account offer? This.
No-fee Overdraft Coverage
Overspent by accident? No problem. You’ll be covered up to $50 with no fees with qualifying direct deposits.4
Cash back, close to home5
Get up to 15% cash back at local establishments when you pay with your SoFi debit card.
Automatic saving features
Organize your money, set savings goals, and save your change with Vaults and Roundups.
{/* Mobile banking made easy HIDDEN*/}
{/*FAQs*/}
FAQs
An online bank account conveniently allows you to manage your accounts from your computer or mobile device. This includes sending money, depositing checks, paying bills, and everything you’d normally do at a physical branch. Because SoFi does not have any physical branches, we’re able to pass those savings to our members!
Opening an account is quick and easy. All we need are a few pieces of information such as name, home address, and Social Security number. In some cases, we may need additional documentation like a copy of your driver’s license, and/or a current photo ID to verify your identity.
Of course. Anyone over 18 can open an individual or joint online bank account. In fact, we have some special offers for students (must have an .edu email address to qualify).
Learn more about our Student Checking and Savings Offer.
Nine in 10 SoFi members agree—setting up direct deposit is easy.** Simply download this here.
Learn more: How to Set Up Direct Deposit
As long as you direct deposit your pay or add $5,000 every 30 days, you’ll earn 3.60% APY on your savings & Vaults balances and 0.50% APY on your checking balances.* If you do not have a direct deposit or $5,000 in deposits every 30 days, you’ll earn 1.00% APY on savings & Vaults balances and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. Additional information can be found at sofi.com/legal/banking-rate-sheet.
When you set up direct deposit into your account, you are trusting your paycheck with us. We want to repay that trust by making sure that we give you the best of what SoFi has to offer, including up to 3.60% APY (annual percentage yield)1, plus features like No-Fee Overdraft Coverage4 and up to 2-Day Early Paycheck.*
All SoFi Checking and Savings accounts receive industry-standard FDIC insurance of up to $250,000 per member (joint accounts are insured up to $500,000). SoFi Checking and Savings members can earn up to $3M of FDIC insurance by enrolling in the SoFi Insured Deposit Program 6. For more information on FDIC insurance coverage, please visit www.FDIC.gov.
SoFi makes it easy to both withdraw and deposit money. To withdraw, simply visit any of the 55,000 Allpoint ATMs (more locations than Chase, Wells Fargo, and Bank of America combined!). You won’t pay any fee as long as you visit one of these ATMs. In order to deposit money, simply visit a retail location that offers GreenDot services.
There is no minimum balance required to open a SoFi Checking & Savings account. Members can unlock 3.60% APY savings balances with either direct deposit (no minimum required) or by depositing at least $5,000 every 30 days.1 For more information, please visit sofi.com/banking.
Learn more: How Much Money Is Needed to Start a Bank Account?
You must be 18 years or older to open an individual or joint bank account.
Learn more: How Old Do You Have to Be to Open a Bank Account?
When you sign up for a SoFi online bank account, you will receive both a checking account and a savings account. We do not currently offer standalone checking or savings accounts.
Yes. As long as you have Overdraft Protection enabled, we’ll automatically pull from your available savings balances in the event that your checking balance is insufficient. Overdraft protection covers ACH withdrawals (bill pay, loans, P2P), checks and debit card transactions. Note that overdraft protection will not pull from your Vaults. To turn on Overdraft Protection, open the SoFi app, tap More > Overdraft and toggle the feature on.
No, there are no current limits on saving withdrawals or transfers between checking, savings and Vaults.
(checking vs savings?)
Nope, it doesn’t matter. To unlock the highest the highest APY, you may either:
-Get paid via direct deposit (into either your checking or savings). Eligible direct deposits are the electronic deposits of your paycheck, pension or government payments (e.g., Social Security) from your employer, benefits provider, or the government.
-Add $5,000 or more to your checking or savings account every 30 days.
There is not currently a maximum on the 3.60% APY for savings or Vaults.
We’re proud to say that banking with SoFi has no account fees and no service charges—and we’re working hard to keep it that way.^ There are no fees on overdraft, account open, minimum balance, dormant account or regular maintenance. We also offer no ATM fees at 55,000+ Allpoint ATMs worldwide.3 Check out a full list of fees and service charges: No Fees.
{/* More banking tips and resources */}
More banking tips and resources just clicks away.
See more articles
{/* Get up to apy */}
Get up to 3.60% APY today1—
tomorrow will thank you.
Get the best of both worlds with an online checking account and an online savings account that work better together. Simply download the SoFi app, become a member, and sign up today.
Open an account
SoFi > Banking
Read more
SoFi Invest Taxable Account 1% Match Promotion
The SoFi Invest Active or Robo Taxable Account 1% Match Promotion (“Offer”) is governed by the following Terms & Conditions:
1. Offer – Subject to these terms and conditions, eligible customers earn a 1% Match (“1% Match”) when transferring at least $5,000 in Net Deposits (as defined below) from SoFi Money or SoFi Checking & Savings into a new SoFi Invest Active Brokerage or Robo taxable account (each, a “New Invest Account”) during the Offer Period (defined below). The 1% Match will be based on the total net deposits in a New Invest Account via incoming ACH contributions during the Offer Period less any outflows or withdrawals (“Net Deposits”) and maintained through the end of December 31, 2025 (the “Holding Period End Date”). The Match will be paid in cash after the Holding Period End Date in January 2026 and deposited into the New Invest Account. Deposits into multiple new taxable accounts (Brokerage or Robo) may not be combined to total $5,000.
This Offer is made by (i) SoFi Securities LLC with respect to SoFi Active Invest taxable accounts and (ii) SoFi Wealth LLC with respect to Robo taxable accounts.
SoFi reserves the right to change or terminate this promotion at any time without notice.
Example 1: If you open a new Robo taxable account and contribute $5,000 during the Offer Period, and do not make any additional contributions or withdrawals for the rest of the year, you will be matched 1% equaling $50.
Example 2: If you open a new Brokerage taxable account and contribute $10,000 during the Offer Period, and make a withdrawal of $3,000 before the Holding Period End Date, you will be matched 1% of $7,000 equaling $70.
Example 3: If you open a new Brokerage taxable account and contribute $5,000 during the Offer Period, and make an additional contribution during the Holding Period, you will be matched 1% of $5,000 equalling $50.
2. Offer Period – The Offer Period will run from March 12, 2025 to midnight on April 12, 2025, or until such date as may be extended at SoFi’s discretion.
3. Eligibility – This Offer is solely available to SoFi customers meeting all the following criteria: (1) SoFi Plus membership maintained through the end of the Holding Period End Date; (2) at least $30,000 in SoFi Money or SoFi Checking & Savings balances as of March 10, 2025; (3) no existing SoFi Invest accounts; (4) successfully transfers at least $5,000+ in assets via ACH from a SoFi Money, SoFi Checking or SoFi Savings account into a New Invest Account during the Offer Period; and (5) maintain an open SoFi Invest account with Net Deposits of at least $5,000 in the New Invest Account through the end of the Holding Period End Date.
4. Limitations – This Offer may not be combined with any other offer.
If SoFi suspects that there may have been fraudulent activity, or a violation of these Terms & Conditions in connection with the Offer, or a violation of the customer agreement, SoFi reserves the right to either decline to grant the Offer, or to rescind the Offer. SoFi reserves the right to delay granting the 1% Match Promotion if there are indications of fraud or a violation of these Terms.
5. Not a Recommendation – The 1% Match is not a recommendation to buy, sell, or hold any security, nor is the Offer a recommendation or endorsement of any investment strategy. The Offer is not a recommendation that a customer transfer assets into a SoFi Taxable Invest account, nor a recommendation for any specific product type. There are many factors that an investor should consider before initiating an ACH transfer from their SoFi Money, SoFi Checking or SoFi Savings accounts – an investor should consult with a qualified advisor prior to initiating any transfer of assets.
Customers that wish to participate are acknowledging the Offer is not investment advice and are participating in the Offer voluntarily.
6. Taxes – Each investor’s tax situation is unique and SoFi does not give tax advice. Investors should consult a qualified tax advisor prior to making any transfer as sales may affect your tax situation.
The value of the reward you receive may constitute taxable income. SoFi Securities LLC or its affiliates may issue a Form 1099 (or other appropriate form) to you that reflects the value of the reward. Please consult your tax advisor. SoFi Securities LLC and its affiliates and associates do not provide tax advice.
7. Other Disclosures – SoFi reserves the right to change the Offer terms or terminate the Offer at any time without notice. The Offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to U.S. residents only. The Offer is only available for personal use, and may not be used for commercial purposes.
Active Invest self-directed brokerage services are provided by SoFi Securities LLC (“SoFi Securities”), Member FINRA/SIPC. Robo automated investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth by SoFi Securities. Clearing and custody of all securities are provided by APEX Clearing Corporation. Any disputes regarding this Offer shall be resolved in accordance with the customer’s agreements with SoFi Securities and SoFi Wealth, and subject to FINRA arbitration rules.
INVESTMENTS ARE NOT FDIC INSURED, ARE NOT BANK GUARANTEED, AND MAY LOSE VALUE
Read more