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Compare high-yield savings accounts

SoFi Checking and Savings

From SoFi

Best for: People who'll set up direct deposit there

3.30%

APY

$330

$10K earns / yr

As of · sources in Details

A young woman, seen from behind, throws both arms up on a hilltop above a sunny harbor town and blue fjord.

Pros

  • No account fees or minimum
  • Checking and savings in one app
  • Strong rate with direct deposit

Cons

  • Top rate needs direct deposit or qualifying deposits
  • Must open checking and savings together

Who it fits

You're happy to move your paycheck there

What reviewers say

Reviewers like solid yields, no monthly or overdraft fees, and early direct deposit. The top rate needs direct deposit or regular deposits, and checking and savings open together.

Paraphrased from Bankrate, SoFi Bank review.

Visit SoFi Checking and Savings's official site (opens in a new tab)

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Details: full breakdown and sources

The numbers

APY
3.30%With eligible direct deposit or qualifying deposits. Lower otherwise. SoFi lists this rate as current as of 9/23/2026.As of · source
Minimum
$0No minimum balance requirement.As of · source
Monthly fees
$0No account, service or maintenance fees.As of · source

The breakdown

A combined checking and savings account where the top rate depends on direct deposit or regular deposits.

SoFi pays 3.30% APY on savings for members with eligible direct deposit or qualifying deposits. Without them the rate is lower; see SoFi's rate sheet. SoFi also advertises a limited-time boost for new members.

There's no minimum balance and SoFi doesn't charge account, service or maintenance fees. Savings and checking come together as one product.

Review themes, point by point

  • Reviewers like the solid yields on both checking and savings, with no monthly or overdraft fees.
  • Early direct deposit and frequent sign-up bonuses are mentioned as perks.
  • The top rate needs direct deposit or regular deposits of $5,000 a month.
  • You have to open checking and savings together.

Reviews reflect each publisher's view on the day they wrote it.

All pros

  • No account fees or minimum
  • Checking and savings in one app
  • Strong rate with direct deposit

All cons

  • Top rate needs direct deposit or qualifying deposits
  • Must open checking and savings together

Might fit if

  • You're happy to move your paycheck there

Maybe look elsewhere if:

  • You want a high rate without changing where you're paid