SoFi Bank Savings
#7 in Savings Account · Rated 4.0
SoFi Bank Savings with promotional APY and integrated SoFi ecosystem
SoFi Bank offers a bundled Checking and Savings experience with competitive promotional APYs. As of 2025, SoFi runs limited-time promos that boost savings APYs (up to about 4.30% for a defined period with eligible direct deposits). After the promo, the baseline APY sits around 1.00% and is subject to change. SoFi’s savings are FDIC insured through SoFi Bank, N.A., and the product is tightly integrated with SoFi’s broader platform (checking, crypto, and loans), making it attractive to existing SoFi members seeking an all-in-one financial app. Direct deposits, ease of use, and automatic transfers round out the value proposition, though users should watch for promo expiration and potential subscription requirements for enhanced yields.
Features
- Up to 4.30% APY during promo (for up to 6 months with direct deposit)
- No monthly maintenance fees on base account
- FDIC insured via SoFi Bank, N.A.
- Linked to SoFi Checking for seamless transfers
- SoFi ecosystem advantages (crypto, loans, investing)
Pros
- High promotional APY; strong all-in-one app
- No monthly fees for the base product
- FDIC insured
Cons
- Promo ends; APY reverts
- Some benefits require a paid SoFi Plus subscription