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SoFi Checking & Savings earns interest and has no account and overdraft fees. Earn more on your money with 4.00% APY and up to $250 cash for opening a SoFi Checking & Savings account and setting up direct deposit into the account.
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 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 Posts History below for more offers from SoFi.
SoFi Checking & Savings: Up To $250 + Up To 4.00% APY
- What you’ll get: Up To $250 + Up To 4.00% APY
- Where it’s available: Nationwide
- How to earn it: Receive a bonus worth up to $250 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 4.00% APY. See the Bonus Details section below for more information.
- When it expires: 1/31/2023
READ MORE: See Popular Offers From Banks Like Chase Bank, Bank Of America, U.S. Bank, BMO Harris, And TD Bank
- 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.
- Cash back, close to home: Get up to 15% cash back at local establishments when you pay with your SoFi debit card.
- 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||$250|
Waive The Monthly Fee
The SoFi Checking & Savings account has no monthly fees.
- In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit from an Eligible Participant before the end of the Promotion Period.
- Qualifying Direct Deposits are defined as deposits from an enrolled member’s employer, payroll, or benefits provider via ACH deposit.
- Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion.
- The amount of the bonus, if any, is described below.
- No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period.
- The Evaluation Period begins when SoFi receives a Qualifying Direct Deposit (within the Promotion Period) and ends 25 days later (the “Evaluation Period”).
- The bonus amount will vary based on the total amount of Qualifying Direct Deposits received during the Evaluation Period.
- Once the Evaluation Period has elapsed, they will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within 7 business days.
- A member may only qualify for one bonus tier and will not be eligible for future bonus payments if inflows subsequently increase after the Evaluation Period.
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.
- SoFi Plus Promotion: Up To $250 Bonus + Up To 4.00% APY
- Sofi Student Loan Refinance Offer: $1,000 Bonus for Doctors & Dentists Through Referral
- SoFi Invest Promotion: $150 Welcome Bonus With Swagbucks
- Best SoFi Promotions – $300, $600, $1000 Offers & More
- SoFi Credit Card Up To $250 Bonus & 3% Cash Back
- Swagbucks Deal: Get $10 Rewards + 1000 SB (Worth $10) When Sign Up For Credit Insights From SoFi Relay
- SoFi Invest/Crypto Up To $100 Bitcoin Bonus Offer
- [Expired] SoFi Deposit Funds & Earn up to $1,000 Targeted Offer for Existing Customers
- SoFi Active Investing Promotions: $25 Sign Up Bonus & Up To $1,000 Targeted Offer
- SoFi Student Loan Refinancing $300 Offer & $300 Referrals | $500 Targeted Offer Has Expired
- SoFi Personal Loans $300 Sign Up Bonus ($600 Targeted Offer Available)
- SoFi Mortgage Loans Review: 10% Down On Loans Up To $3M
READ MORE: See The Best Bank Promotions Here And The Best Investing Promotions Here
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