Earn up to $325 in cash bonuses when you open a SoFi Checking & Savings account and set up a direct deposit, unlocking a world where your money doesn’t just sit idle—it grows. With an impressive 4.60% APY, say goodbye to traditional account and overdraft fees, and hello to your funds multiplying in an account designed for those who demand more from their banking experience.
Join SoFi today and step into a realm of financial empowerment, where every dollar in your account works tirelessly
Find more updated promotions and offers from SoFi here. In addition to offers available for SoFi Checking & Savings, offers are typically available for SoFi Invest, Student Loan Refinancing and Personal Loans.
- Update 12/7/2023: The SoFi Checking & Savings referral bonus increased to $325. If you prefer a high APY and great online banking tools, this is a great choice.
- Update 10/24/2023: The SoFi Savings APY changed from 4.50% to 4.60%. Direct deposit or $5,000 or more in Qualifying Deposits will still be required to earn the headline APY, and without that being met, the APY will be 1.20%. The Checking APY stayed the same at 0.50% APY.
- Update 10/13/2023: You can also get $175 from Rakuten. Read about it here.
- Update 9/21/2023: Get up to $275 with our referral link (thanks ahead) and $200 through Swagbucks. See the details for both offers below.
- Update 7/12/2023: Rate now up to 4.40% APY.
- Update 6/27/2023: Combine this $250 direct deposit bonus with the $200 SoFi bonus with Swagbucks.
- Update 6/9/2023: The highest rate is now 4.30% APY.
- Update 4/25/2023: Highest rate is now 4.20% APY, up from 4.00% APY.
- Update 4/4/2023: The offer is valid through 12/31/2023.
- Update 3/17/2023: The APY members can earn on savings (including Vaults) increased from 3.75% to 4.00% APY
- Update 1/4/2023: The APY members can earn on savings (including Vaults) increased from 3.50% to 3.75% APY
- Update 12/16/2022: The APY members can earn on savings (including Vaults) increased from 3.25% to 3.50% APY
- Update 12/12/2022: The APY members can earn on savings (including Vaults) increased from 3.00% to 3.25% APY.
- Update 11/10/2022: SoFi introduced SoFi Plus premium membership, a benefits program that gives members rewards and discounts across the full suite of SoFi products, including SoFi Checking & Savings. Read about it here.
- Update 11/9/2022: Swagbucks is offering 20,000 points when you sign up for SoFi Invest. More details here.
- Update 11/2/2022: SoFi Checking & Savings is now 3.00% APY and up to $250 bonus.
See the bottom of this page for more SoFi offers.
READ MORE: SEE OUR LIST OF THE BEST BANK ACCOUNT PROMOTIONS HERE
SoFi Checking & Savings: Up To $325 + Up To 4.60% APY
- What you’ll get: Up To $325 + Up To 4.60% APY
- Where it’s available: Nationwide
- How to earn it: Receive a bonus worth up to $325 based on the total of the direct deposits you receive in a 25-day evaluation window when you open a SoFi Checking and Savings account. Members will also earn up to 4.20% APY. See the Bonus Details section below for more information.
- When it expires: 6/30/2024
>> OFFER LINK
READ MORE: GET TOP BONUSES FROM CHASE, AXOS, BANK OF AMERICA AND BMO.
Bonus Details
- Say goodbye to bank fees: The average American paid $53.79 in bank fees in 2020. We don’t believe in fees, so with SoFi there’s no overdraft fees, no minimum balance fees, and no monthly fees. Plus, 55,000+ fee-free ATMs with Allpoint.
- FDIC insured: Breathe easy knowing your funds are insured up to $250K. (Joint accounts receive $500K in total insurance.)
- 2-day Early Paycheck: Feel the magic of pay day up to two days early – automatically – when you set up direct deposit.
- Automatic savings features: Organize your money, set savings goals, and save your spare change with Vaults and Roundups.
- No fee Overdraft Coverage: Overspent by accident? No problem. You’ll be covered up to $50 with no fees with qualifying direct deposits.
- Collect a cash bonus of $50 to $250 depending on your direct deposit amount during your 25-day evaluation period:
Total Qualifying Direct Deposit amount in 25-day Evaluation Period | Cash Bonus |
---|---|
$1,000 – $4,999.99 | $50 |
$5,000 or more | $300 |
TRENDING DEAL:
▶ GET UP TO $700 BONUS CASH WITH THIS INVESTING OFFER FROM J.P. MORGAN
Waive The Monthly Fee
The SoFi Checking & Savings account has no monthly fees.
Fine Print
- SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances.
- There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
- Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
- Interest rates are variable and subject to change at any time.
- These rates are current as of 10/24/2023.
- There is no minimum balance requirement.
- Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
READ MORE: GET THIS $100 SIGN UP BONUS FROM BANK OF AMERICA BEFORE IT’S GONE
Bottom Line
SoFi’s combined checking and savings account is a great choice for those of us who don’t want to deal with bank fees. With no monthly fees, overdraft fees, or out-of-network ATM fees along with high interest and a nice welcome bonus, one should consider signing up.
More from SoFi:
- SoFi Invest: Transfer Your Investments to Earn Up to $10,000 Bonus
- Best SoFi Sign Up Bonuses, Promotions Of April 2024
- SoFi Checking & Savings Sign Up Bonus: Earn Up to $500 Via Referral, Swagbucks/Rakuten
- SoFi Student Loan Refinancing Sign Up Bonus: Get $300 Offer & $300 Referrals
- SoFi Personal Loans Sign Up Bonus: Get $300 & Competitive Rates
- SoFi Active Investing Promotions: $25 Sign Up Bonus
- SoFi Invest/Crypto Up To $100 Bitcoin Bonus Offer – Ended
- Sofi Student Loan Refinance Offer: $1,000 Bonus for Doctors & Dentists Through Referral
- SoFi Invest Promotion: Extra 2% IRA Match (Up To Annual Contribution Limits)
- SoFi Deposit Funds & Earn up to $1,000 Targeted Offer for Existing Customers – Ended
- SoFi Invest Promotion: $200 Welcome Bonus With Swagbucks Or $175 Rakuten
- SoFi Plus Promotion: Up To $250 Bonus + Up To 4.60% APY
- Swagbucks Deal: Get $10 Rewards + 750 SB (Worth $7.50) When Sign Up For Credit Insights From SoFi Relay
- SoFi Credit Card Up To $250 Bonus & 3% Cash Back
- SoFi Mortgage Loans Review: 10% Down On Loans Up To $3M
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.