What are SoFi Vaults, and how do they work?
SoFi Vaults are savings buckets that allow you to organize funds within your SoFi high-yield savings account. Vaults act as extensions of your main account, allowing you to earmark money for specific goals—like emergency funds or future expenses—without creating separate accounts. You can easily track progress toward your savings goals while earning the same competitive interest rate as your primary savings account.
Open a SoFi Checking and Savings account.
Sign up online or download the SoFi mobile banking app. Then provide some basic information to set up your account.
Log in and add a Vault.
After you’ve logged in, head to the "Banking" section and select your savings account. Tap or click "Add new Vault."
Name your Vault and set a goal.
Select from a list of common Vault types and customize the name of your Vault. You also have the option to set a goal so you can track your progress. Transfer money to your Vault to finish the setup process.
How to create a SoFi Savings Vault:
Save for your financial goals.
SoFi Vaults allow you to bucket money for your most important goals.
Prepare for emergencies.
Have you ever felt the stress of an unexpected or emergency expense? Give yourself peace of mind with an emergency fund Vault.
Save for your next big purchase.
Saving for a new home or vehicle? Track your progress toward a major purchase with a car or home Vault.
Fund your next big trip.
Vacations are more enjoyable when you’re not stressing over spending. Prepare for your next getaway with a trip Vault.
Plan and save for the future.
From building wealth to preparing for retirement, most of us have future financial milestones we want to hit. Use a Vault to save for a bulk investment or other financial plans.
4 ways to fund your savings Vaults.
So you set up a Vault. Now how do you fund it?
Enroll in automatic savings.
Take advantage of automatic savings by setting up recurring transfers into your Vault.
Move money from checking or savings.
Instantly transfer money from your checking account into your Vault for an easy funding option.
Link an external account.
Have money in a different account? No problem. You can easily move money from your external bank account to your Vault by linking it to your SoFi Checking and Savings account.
Round up your debit transactions.
SoFi Roundups allow you to round up any purchase you make with your SoFi debit card to the next dollar. The better news? You can automatically allocate your Roundups to your savings Vault.
Explore more online savings tools and calculators.
Calculate how much you need for emergencies.
How much should you have in your emergency fund? Use our emergency fund calculator to decide the right savings amount for you.
Track spending and expenses.
It’s easier to save when you understand how much money you have coming into your account and what you’re spending it on. Use SoFi Relay to get financial insights like spending habits and credit score changes.
Follow the steps toward smart money management.
Looking for ways to manage your money better? We’ve rounded up some of our favorite financial resources in our money management guide.
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SoFi > Banking > Online Savings Account > Savings Vaults