SoFi Savings
High-Yield Savings Account
For a limited time, open a new high yield savings account and earn up to 4.30% APY for six months. Plus, enjoy no account fees3, no minimums, and a cash bonus up to $300.4
1When you open a SoFi Savings Account, SoFi Bank will also automatically open a SoFi Checking Account in your name. See the SoFi Bank Deposit Account Agreement for details.
2Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25)
for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply here. SoFi Bank, N.A. Member FDIC.
Earn up to 4.30% APY
Get a 0.70% boost on our standard savings APY of 3.60% APY5 when you set up a new account with eligible direct deposit. Terms apply.
1
Zero account fees
Keep more of your money. We don’t charge monthly fees, overdraft9 fees, or minimum balance fees.
2
Earn up to a $300 cash bonus with direct deposits.
Start your savings off right. Earn a $50 or $300 cash bonus with eligible direct deposit.4
3
FDIC-insured
Access additional FDIC-insurance up to $3M through our partner network.
4
{/* Fuel your savings with a 0.70% APY boost */}
How to get your
0.70% APY boost.
Here are the necessary steps:
-
First, open a new SoFi Savings account1 by 1/31/26.
-
Next, become a SoFi Plus member within 60 days by setting up an eligible direct deposit or enrolling in a $10/month (every 30 days) subscription.7
-
Then, enjoy a 0.70% APY boost on your savings for six months as long as you maintain your SoFi Plus membership. And if our variable APY changes, don’t worry, you’ll still get the 0.70% bump on top of the standard savings rate.
Open an account
2Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25)
for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply here. SoFi Bank, N.A. Member FDIC.
Don’t settle for average. See how we stack up.
When it comes to your savings, the details matter. Here’s a side-by-side look at how our fees, standard savings APY, and features compare to the big banks.
‘$03‘,
‘$0’,
‘No limit’,
‘Up to $3M6‘,
‘Yes’,
]}
competitorCards={[
[
‘Bank of America’,
‘0.04%’,
‘$8’,
‘$100’,
‘6 per month’,
‘$250,000’,
‘Yes’,
],
[
‘Chase’,
‘0.02%’,
‘$5’,
‘$0’,
‘6 per month’,
‘$250,000’,
‘No’,
],
[
‘Wells Fargo’,
‘0.05%’,
‘$5’,
‘$25’,
‘6 per month’,
‘$250,000’,
‘No’,
],
]}
/>
Rates and fees are subject to change. Information for competitors based on standard savings accounts as of 11/5/2025.7
Open an account
See how fast your savings account could grow.
See the difference a high-yield rate makes.
Calculate your potential earnings with our standard 3.60% APY and see how we stack up against the big banks.
*Actual interest credited by your financial institution may vary based on institution-specific calculation methodology.
Rates may vary by state and do not account for bonus, special or promotional APYs.
Traditional bank rates are in comparison to Chase and Bank of America and current as of November 5, 2025.
National Average is based on the FDIC monthly savings account rate as of November 5, 2025.
{/* Features List */}
Smarter tools to help you save.
Go beyond high APY. We help you organize your money and build savings habits automatically.
Savings Vaults
Organize your money for what matters. Create multiple savings Vaults for all your savings goals and track your progress for each one.
Roundups
Save without thinking about it. Every time you use your SoFi debit card, we’ll round up your purchase to the nearest dollar and put the change in your savings.
Automatic transfers
Pay yourself first. Set up recurring transfers from a linked account or your SoFi Checking to grow your savings consistently.
{/*Additional features*/}
All the savings account features you expect, and more.
Mobile check deposit
Deposit checks anytime, anywhere, right from the SoFi app.
24/7 fraud monitoring
We continuously monitor your account for suspicious activity to keep your money safe.
Early paycheck
Get your paycheck up to 2-days early when you set up direct deposit.8
Account alerts
Stay in the know with customizable alerts for deposits, withdrawals, and balances.
Joint accounts
Save together towards your shared goals by easily adding a joint account holder.
Online & mobile banking
Seamlessly access your account and manage your money on any device, 24/7.
Get up to a $300 cash bonus with direct deposit.
Earn a $50 or $300 cash bonus with eligible direct deposit and unlock getting paid up to two days early. Terms apply.
Open an account
{/*How to get the most out your sofi checking and savings*/}
Apply online.
Quickly fill out our secure online application. All you need is your personal information and a government-issued ID.
1
Fund your account.
Easily link an external bank account to make your first deposit. There are no minimum deposit requirements.
2
Set up direct deposit.
Unlock our highest APY with eligible direct deposit and immediately start earning on your entire balance.
3
Quickly and easily open your savings account online.
Open an account
{/* More resources about savings accounts */}
Tools and resources to help you save:
{/*FAQs*/}
FAQ
A high-yield savings account (HYSA) is a savings vehicle similar to a traditional savings account but pays considerably higher interest rates. As of July 2025, the national average interest rate for savings accounts was 0.38% according to the FDIC, while some HYSAs provided annual percentage yields (APYs) of 3.00% or more.
You can open a SoFi Savings account by applying online with your personal information. Once approved, simply fund the account via an electronic transfer from a linked bank. To unlock the highest APY, you’ll need to set up direct deposit.
There is no minimum deposit amount to open an online savings account with SoFi.
The current APY for a SoFi Savings account is up to 3.60% APY. Make sure you sign up for direct deposit (or deposit at least $5,000 every 30 days) to earn the highest rate!2
There is no minimum direct deposit amount to receive the 3.60% APY.
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 get additional $3M of FDIC insurance by enrolling in the SoFi Insured Deposit Program 5.
No. SoFi Checking and Savings doesn’t charge any monthly, minimum, or maintenance fees.3
With a SoFi online savings account, there are no monthly limits on the number of withdrawals you can make. You have the flexibility to access your money as often as you need without facing the withdrawal restrictions common at many other banks.
Yes! When you open a high-yield savings account, you automatically get a checking account, which earns 0.50% APY1. We don’t currently offer a standalone savings account.
APY, or Annual Percentage Yield, represents the total interest you’ll earn over a year, including the effect of compounding interest. At SoFi, we calculate your interest daily and pay it out monthly, which helps your money grow faster.
Within your larger savings account, you can create Vaults dedicated to specific savings goals. For example, you might have a Vault dedicated to a down payment for a car, an emergency fund, or a home renovation.
You can automatically put money from debit card roundups and/or paychecks into your Vault. Simply set it and forget it.
{/* Putting your savings to work */}
Put your savings to work.
Meet your goals sooner by signing up for our high-yield savings account today.
Get started
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