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Oct
13
2023

Banking for College Students – Go Bears

By | 1_Web_Banking | Comments Off on Banking for College Students – Go Bears

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Student Checking and Savings Account

A+ banking for students like you.

Now college students can bank with SoFi. With SoFi Checking and Savings for students, you can get $10* by signing up and funding your account. Plus, pay no account fees or minimums. Sign up with your .edu email address to get started.


Open an account

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Sign up offers

Here’s how to cash in on up to $10.*

  • Get $10* when you sign up for a student bank account with your .edu email address and add at least $10 to your account within 5 days of registration.

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Open a student bank account online to stay ahead of the curve.

Our student bank account is designed to help college students get their money right – now and beyond graduation.

Start saving now.

With Roundups, you can grow your savings while you spend.

There’s our app for that.

Use the SoFi app to quickly and easily check your account balance, deposit checks, and make transfers.

Focus on degrees, not fees.

College is expensive enough. Our free student bank account has no account fees or minimums.


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Checking for now, savings for later.

SoFi student bank accounts come with both checking and savings so you can easily manage your money today while building towards your financial goals. Earn 3.60% APY on your savings balances and 0.50% APY on your checking balances2 when you set up direct deposit. And did we mention no account fees?


Open an account


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We majored in better banking.

Don’t get F’d by fees.

Pay no account fees, no ATM fees at 55K+ Allpoint locations, and no overdraft fees with overdraft protection.1

We’re on the go, like you.

Manage your student bank account in the SoFi app. Keep an eye on your spending and saving, pay friends and family, get real-time alerts, and more.

Savings Vaults meet your savings goals.

Vaults make it easy to organize your savings, set up recurring deposits, and track your progress.

Round up and earn more.

SoFi account holders can opt-in to Roundups to have leftover cash from each purchase automatically deposited into a savings Vault.


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    Do it all from our app.

    Simplify your finances with mobile banking features designed for students like you:


  • Send and receive money


  • Locate ATMs


  • Pay bills


  • Set up your Digital Wallet (Apple Pay, Samsung Pay, Google Pay)


  • Log in with secure Face ID


    • Open an account

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FAQs


Can a student open a bank account online?

Yes! All you need to do is enter your basic information. It really is that simple.


How old do I have to be to open a student bank account?

All SoFi bank account holders need to be at least 18 years or older.


Are there fees to open a student bank account?

No, SoFi doesn’t require any fees or a minimum deposit to open a student bank account.


How do I get the $10 sign-up bonus?*

Simply open an account using an .edu email address and fund with a minimum $10 within 5 days of registration to receive your $10 sign-up bonus.*


What happens to my account when I graduate?

Your account remains active and usable after you graduate.


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Money lessons they don’t always teach in school.













Check out SoFi learn


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Make the smart move.

Ready to open a student bank account with SoFi? Click below to get started.


Open an account


Personal Loan Terms

Fixed rates from 8.74% APR to 35.49% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 12/14/25 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-6%, which will be deducted from any loan proceeds you receive.

PERSONAL LOAN INTEREST RATES AND FEES | ELIGIBILITY AND IMPORTANT DETAILS. Annual percentage rates (APRs) shown include the 0.25% autopay discount. If approved for a loan, the rates and terms offered will depend on things like creditworthiness, the length of the loan, and other factors, and will fall within the range of rates available by applicable loan term; check out our full APR examples and terms. Remember, not all applicants will qualify for the lowest rate. Want to learn more? See our eligibility criteria at SoFi.com/eligibility-criteria. SoFi reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change. Fixed Rates: Fixed rates range from 8.74% APR to 35.49% APR (with autopay). The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. Enrolling in autopay is not required to receive a loan from SoFi. Loan Terms: SoFi Personal Loans offer loans with a period of repayment between 2 and 7-year terms. Loan Fees: SoFi personal loans have no fees required; specifically, no origination fees required, no late fees, no prepayment penalties.

PERSONAL LOAN | REPAYMENT EXAMPLE. The following example depicts the APR, monthly payment and total payments during the life of a $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 8.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,356.68–$1,529.07 for a total amount of payments ranging from $32,560.37–$36,697.76. This repayment example assumes that the borrower is signed up for autopay and that all payments are made on time, with no pre-payments. Actual rates may vary based on repayment term, loan amount, creditworthiness, and other terms and conditions. SoFi does not offer variable rate personal loans. State restrictions may apply.

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Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

INVESTMENTS: NOT FDIC INSURED • HAVE NO GUARANTEE • MAY LOSE VALUE. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The SoFi Wealth platform is operated and maintained by SoFi Wealth LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of SoFi Wealth LLC by SoFi Securities LLC, an affiliated broker-dealer registered with the Securities and Exchange Commission and a member of FINRA /SIPC . Clearing and custody of all securities are provided by APEX Clearing Corporation. For more information, please see SoFi Wealth LLC’s Form ADV Part 2 by clicking here for SoFi's Wealth Form ADV Part 2 A&B or by visiting www.adviserinfo.sec.gov .
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