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SoFi Savings

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description SoFi Savings Overview

SoFi Savings consistently offers a highly competitive APY, coupled with a user-friendly mobile app and a seamless online experience. The account boasts no monthly maintenance fees or minimum balance requirements, making it accessible to a wide range of savers. SoFis integration with other financial products, like investing and loans, provides a holistic financial management platform. The platforms ease of use and consistently high APY make it a top choice for those seeking a straightforward and rewarding savings experience.

SoFi's reputation for innovation and customer service further enhances its appeal.

help SoFi Savings FAQ

What do I need to earn SoFi Savings' highest APY?

SoFi currently ties its higher savings yield to qualifying activity such as eligible direct deposit, and the exact APY can change. Check the live SoFi rate table before moving money because older reviews may quote a discontinued percentage.

Can I open SoFi Savings without opening SoFi Checking?

SoFi generally opens its Checking and Savings accounts together rather than offering Savings as a completely separate product. There is no requirement to maintain a large checking balance simply because both accounts are created.

Is money in SoFi Savings FDIC insured?

SoFi Checking and Savings is provided by SoFi Bank, N.A., a Member FDIC institution. Standard FDIC insurance generally covers eligible deposits up to $250,000 per depositor, per insured bank, for each ownership category.

Does SoFi Savings charge a monthly maintenance fee?

SoFi advertises no monthly maintenance fee and no minimum balance requirement for its checking and savings accounts. Optional memberships or other SoFi products can have separate terms, so they should not be confused with the deposit account itself.

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