Sofi Checking and Savings Account

SoFi Bank, N.A. is an FDIC member bank that focuses on online banking services without traditional brick-and-mortar branches. Its Checking and Savings accounts are bundled and opened together in one application, making it a great fit for users who primarily manage their money through the mobile app, set up direct deposit for paychecks, and want their idle funds to earn some interest.

New customers who meet the requirements by setting up an Eligible Direct Deposit can earn up to a $400 bonus. The Savings account offers 3.10% APY when conditions are met, and new customers may also qualify for a limited-time 0.70% APY Boost, bringing the total to up to 3.80% APY for up to 6 months.

• How to get the bonus?

New customers need to set up their first Eligible Direct Deposit. Starting from the first qualifying direct deposit, SoFi will calculate the Total Eligible Direct Deposits received over the next 25 days and issue a reward based on the total amount:

A. $1.00 - $999.99: $0 reward

 

B. $1,000.00 - $4,999.99: $50 reward

 

C. $5,000.00 or more: $400 reward

Additionally, note that SoFi's definition of Eligible Direct Deposit is quite strict—it typically requires recurring ACH income from an employer, payroll provider, pension, or government benefits.

• High APY Highlights

After meeting the Eligible Direct Deposit or Qualifying Deposits requirements, the Savings account earns 3.10% APY. New customers who open an account during the promotion and meet conditions can also get an additional 0.70% APY Boost, bringing it to up to 3.80% APY for up to 6 months.

Keep in mind that the APY is a variable rate and can change at any time. The 0.70% APY Boost is also a limited-time promotion, not a permanent rate.

• Key advantages of SoFi

The user experience leans toward "modern digital banking": a single application opens both Checking and Savings accounts, allowing you to manage payroll deposits, daily spending, and savings interest all in one app! For ATMs, SoFi offers access to 55,000+ fee-free ATMs through the Allpoint network. If you primarily withdraw cash rather than deposit it, this coverage is quite sufficient.

If you have a steady payroll direct deposit and are willing to use an online bank as your primary account, this SoFi promotion is definitely worth considering. With up to a $400开户 bonus, Savings APY up to 3.80%, a new customer APY Boost, and no monthly fees, the combined perks are very attractive! >>Click here to learn more

Note: This article is for general informational purposes only and does not constitute banking, tax, legal, investment, or financial advice. SoFi Checking and Savings is provided by SoFi Bank, N.A., Member FDIC. Please carefully read the official terms before applying and determine if it is suitable for your financial needs.