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Read moreFor a limited time, open a new high yield savings account and earn up to 4.00% 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 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 3/30/26. Rates variable, subject to change. Terms apply here. SoFi Bank, N.A. Member FDIC.
Get a 0.70% boost on our standard savings APY of 3.30% APY5 when you set up a new account with eligible direct deposit. Terms apply.
1
Keep more of your money. We don’t charge monthly fees, overdraft9 fees, or minimum balance fees.
2
Just open your account and set up eligible direct deposit of $1,000 or more. See terms.4
3
Access additional FDIC-insurance up to $3M through our partner network.
4
{/* Explainer mod*/}
Here are the necessary steps:
First, open a new SoFi Savings account1 by 3/30/26.
Next, set up eligible direct deposit within 60 days.7
Then, enjoy a 0.70% APY boost on your savings for six months as long as you maintain your eligible direct deposit. 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 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25)
for up to 6 months. Open a new SoFi Checking and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/26. Rates variable, subject to change.Terms apply here. SoFi Bank, N.A. Member FDIC.
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 the difference a high-yield rate makes.
Calculate your potential earnings with our standard 3.30% 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 */}
Go beyond high APY. We help you organize your money and build savings habits automatically.
Organize your money for what matters. Create multiple savings Vaults for all your savings goals and track your progress for each one.
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.
Pay yourself first. Set up recurring transfers from a linked account or your SoFi Checking to grow your savings consistently.
{/*Additional features*/}
Deposit checks anytime, anywhere, right from the SoFi app.
We continuously monitor your account for suspicious activity to keep your money safe.
Get your paycheck up to 2-days early when you set up direct deposit.8
Stay in the know with customizable alerts for deposits, withdrawals, and balances.
Save together towards your shared goals by easily adding a joint account holder.
Seamlessly access your account and manage your money on any device, 24/7.
Earn a $50 or $300 cash bonus with eligible direct deposit and unlock getting paid up to two days early. Terms apply.
{/*How to get the most out your sofi checking and savings*/}
Quickly fill out our secure online application. All you need is your personal information and a government-issued ID.
1
Easily link an external bank account to make your first deposit. There are no minimum deposit requirements.
2
Unlock our highest APY with eligible direct deposit and immediately start earning on your entire balance.
3
Open an account
{/* More resources about savings accounts */}
{/*FAQs*/}
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 3.30% 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 3.30% 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.
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 */}
Meet your goals sooner by signing up for our high-yield savings account today.
Get started
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