High Yield Savings Account

An online savings account with 3.80% APY?
You got it.¹

If you’re looking for a high-yield savings account (HYSA)², you've come to the right place—and then some. Get up to a 3.80% APY¹ and no account fees³ with our online savings account.

Open an account

²When you open a SoFi Savings Account, SoFi Bank will also automatically open a SoFi Checking Account in your name. See the SoFi Bank Deposit Account Agreement for details.

A high-yield online savings account designed to
grow with you. ²

A savings account that only earns a fraction of a percentage in interest? Not here. Our high-yield online savings account can help you make meaningful progress towards your financial goals.

9x the national average savings account rate.⁴

Our savings account earns up to 3.80% annual percentage yield (APY)—an easy way to earn more.

Round up and save.

Even when you’re spending, you’re saving. When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your savings Vault.

Get up to a $300 bonus.⁵

Start your savings off right. Collect a bank account bonus of $50 to $300 cash, depending on your direct deposit amount.

When it comes to helping you save,
the big banks come up short.

Use the savings calculator below to see how our
high-interest savings APY stacks up against the rest.

*Actual interest credited by your financial institution may vary based on institution-specific calculation methodology.
Rates may vary by state and do not account for bonus, special or promotional APYs.
Traditional bank rates are in comparison to Chase and Bank of America and current as of January 22, 2025.
National Average is based on the FDIC monthly savings account rate as of December 16, 2024.

More than a savings account that just stores your money.

Our high APY is just the tip of the iceberg. Explore all the benefits of opening an online savings account with SoFi.

No fees or minimum balances

SoFi doesn’t require a minimum balance or charge monthly account fees.³

Meet your savings goals with Vaults

Whether it’s for a dream vacation or down payment, savings Vaults are there to help you reach your financial and life goals.

Set it and forget it with automatic savings

Use AutoSave to automatically put part of your paycheck into savings, and achieve your goals quicker.

Finances at your fingertips

Easily transfer funds, deposit checks, and monitor your savings all with the SoFi mobile app.

Roundups on all debit card purchases

You get automatic Roundups on all debit card purchases, which are then put back into your savings Vault.

FDIC-insured

Access additional FDIC insurance up to $3M on deposits through a seamless network of participating banks. Learn more and opt in here.⁶

9x the national average savings account rate with no minimum balance.⁴

Open an online savings account² with up to 3.80% APY¹ and no account fees.³ At that rate, you’ll earn more interest in seven weeks than you would in one year in a big bank’s savings account.

Get started

How to get the most out of your new savings account.

Open an account.²
Answer a few simple questions on our website or mobile app. It’s that easy!
Take advantage of the benefits.
Set up direct deposit to get up to 3.80% APY¹ on your balances and up to a $300 cash bonus.⁵
Watch your savings grow.
With no account fees and up to 3.80% APY¹, you can watch your savings grow and get closer to meeting your financial goals.

Open an account

Checking for now. Savings for the future.

Good news: Your online savings account comes with a checking account, too. Best of all, you can earn 0.50% APY¹ on your checking account balance.

Open an account

Putting your savings to work.

Meet your goals sooner by signing up for our high-yield savings account today.

Get started

Savings FAQ

SoFi offers up to 3.80% APY on savings accounts. Make sure you sign up for direct deposit (or deposit at least $5,000 every 30 days) to earn the highest rate!¹

All SoFi Checking and Savings accounts receive industry-standard FDIC insurance of up to $250,000 per member (joint accounts are insured up to $500,000). SoFi Checking and Savings members can get additional $3M of FDIC insurance by enrolling in the SoFi Insured Deposit Program ⁶.

Within your larger savings account, you can create Vaults dedicated to specific savings goals. For example, you might have a Vault dedicated to a down payment for a car, an emergency fund, or a home renovation.
You can automatically put money from debit card roundups and/or paychecks into your Vault. Simply set it and forget it.

No. There is no minimum direct deposit amount to receive 3.80% APY.¹

Yes! When you open a high-yield savings account, you automatically get a checking account, which earns 0.50% APY¹. We don’t currently offer a standalone savings account.

No. SoFi Checking and Savings doesn’t charge any monthly, minimum, or maintenance fees.³