SoFi
SoFi Checking and Savings
By Alex Compton · Last verified
Combined checking and savings with deposit-based and paid subscription rate tiers
Insurance: SoFi Bank, N.A. is a direct FDIC member; coverage extendable to $3 million via the Insured Deposit Program sweep
Live Bonus
SoFi Checking and Savings currently pays a $400 opening bonus: $50 with $1,000 to $4,999.99 in eligible direct deposits, $400 with $5,000+. See the full requirements.
Source checked October 23, 2026 · Offer ends December 31, 2027
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-10-23 | 3.30% savings with eligible direct deposit or $5,000 qualifying deposits every 31 days; 0.80% otherwise without Plus; 0.50% checking. Eligible new accounts: 4.40% for up to six months. Plus: 4.70% on eligible tier balances, then 3.30%; joint-account rules apply | $0 | None | Official bank rate, fee and product disclosures →Scoped October 20 rate-sheet and current promotion check: Plus now 4.70%, new-account boost 1.10 points to 4.40%, new opening window ends December 31, 2027. Qualified one-time bonus, subscription arithmetic, transaction fees and overdraft coverage. Previous history and full-record check date retained. |
| 2026-10-12 | 3.30% savings with direct deposit or $5,000 in qualifying deposits; new members can add a 0.90% boost to 4.20% for up to six months; 4.50% on the first $20k with SoFi Plus; 0.50% checking; 0.80% savings otherwise | $0 | None | SoFi Checking and Savings page and rate sheet (9/23/2026) →Rate sheet effective 9/23/2026: savings 3.30% with direct deposit, 0.80% without, 0.50% checking, SoFi Plus 4.50% to $20k then 3.30%; new-member boost now 0.90% to 4.20% for accounts opened 9/3-12/31/2026; still no account fees; $3M FDIC via Insured Deposit Program |
| 2026-06-11 | Up to 3.80% savings with direct deposit (3.10% base + 0.70% promo boost); 4.50% on first $20k with SoFi Plus; ~0.50% checking | $0 | None | Archive record · no attached snapshotLegacy snapshot before event-level evidence attachments |
Primary-source verification log
Append-only evidence ledger- changed
Scoped rate, promo, Plus and fee corrections; full-record date and older history retained.
Fields: tagline, apy, plans, features, pros, cons, ourTake, bestFor, termHistory
SoFi October 20 rate sheet, fees and current promotion terms → - changed
Savings now 3.30% with direct deposit (0.80% without, 0.50% checking), new-member boost 0.90% to 4.20%, SoFi Plus 4.50% to $20k then 3.30% at $10/month
Fields: apy, plans, ourTake
SoFi Checking and Savings page and rate sheet (9/23/2026) →
Plan Options
Without qualifying deposits or Plus
$0
0.80% savings, 0.50% checking
- ▸No monthly account maintenance fee or minimum balance
- ▸Standard savings rate applies without deposit qualification or Plus
Eligible direct deposit or $5,000 qualifying deposits every 31 days
$0
3.30% savings, 0.50% checking; eligible first accounts opened October 20, 2026–December 31, 2027 can earn a 1.10-point savings boost for up to six months after timely qualification
- ▸Early paycheck depends on payer timing
- ▸Up to $50 debit-purchase overdraft coverage with $1,000 eligible direct deposits every 31 days, subject to eligibility
- ▸One-time direct-deposit bonus has separate qualification rules
SoFi Plus
$10 per month (optional paid subscription)
4.70% on the first $20,000 for one eligible individual savings account, then 3.30%; account configuration and joint-holder Plus status affect tier allocation
- ▸Joint-only accounts with two Plus subscribers can have a $40,000 high-rate tier; two subscription costs apply
- ▸Promotional APY boosts cannot stack on balances earning the Plus rate
- ▸Compare additional interest and usable perks with the subscription cost
Features
- ▸Checking and savings open together as one product with one app
- ▸Savings Vaults for goal buckets, with round-ups
- ▸Early direct deposit up to 2 days
- ▸No monthly maintenance or overdraft fee; outgoing wires and some other transactions carry charges
- ▸Cash deposits via Green Dot retail network (retailer fees up to ~$4.95 apply)
- ▸Up to $3M FDIC coverage through the deposit sweep network
- ▸Self-service wires and Zelle; full loan/invest/credit-card ecosystem attached
Pros
- +Combined checking and savings with goal-based Vaults
- +Higher savings tier available through eligible direct deposit or qualifying deposits
- +Eligible first-time direct depositors may receive a one-time cash bonus
- +Optional Plus tier for customers who value its benefits above the fee
Cons
- −Savings qualification must be maintained every 31 days unless using Plus
- −Plus subscription costs $10 monthly
- −No out-of-network ATM rebates
- −Savings promotional and Plus rates do not apply to checking balances
Our Take
Compare the ongoing savings tier you can maintain, then evaluate temporary offers and Plus separately. The new-account boost requires timely and continuing qualification; the direct-deposit bonus is one-time. Plus has a balance cap, subscription cost and joint-account allocation rules. SoFi can fit regular depositors, but cash-deposit charges and ATM use may make another account more practical.
Best for: People who want combined checking and savings and can maintain their preferred rate tier
Open at SoFi →Last verified 2026-10-12
Head-to-Head Comparisons
Rate this card
Be the first to rate it
Commentson SoFi Checking and Savings
Comments are stored in your browser during our community preview. Accounts, moderation and cross-device sync arrive with Credit Compound Community.