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Earn high interest and a bonus up to $300 to boot 
Sign up for a SoFi® combination checking and savings account and enjoy amazing benefits like a high APY, no monthly or overdraft fees, and more. FDIC insured.*
Earn more of what's yours with SoFi
With SoFi's Checking and Savings account is a combined account, you’ll earn 0.50% interest on checking balances (APY is variable and subject to change). That’s much higher than the national average of 0.07% for interest checking accounts. Plus, enjoy other great benefits like:
Up to $2M of additional FDIC insurance through a network of participating banks1
Access additional insurance up to $3M on deposits through a seamless network of participating banks.
No account fees2
No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.*
2-day-early-paycheck3
Feel the magic of payday up to two days earlier—automatically—when you set up direct deposit.
Do it all in one app
Pay bills, deposit checks, send money, manage your digital wallet, and get live customer support 7 days a week, all in the SoFi app.
You’re just a few steps away
1
Sign up and set up direct deposit.
2
Wait for your direct deposit to hit your account (typically 2-4 weeks).
3
Collect a cash bonus of $50 to $300 depending on your direct deposit amount.
Apply today and start earning in no time
† The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit promotion (the “Direct Deposit Promotion”) offered by SoFi Bank, N.A, Member FDIC (“SoFi”).
Eligible Participants: All new and existing members without any history of direct deposit transactions into their SoFi Checking and Savings account are eligible to earn a cash bonus of either $50 OR $300 under the Direct Deposit Promotion. Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings, whether currently still enrolled or not, do not qualify for this Direct Deposit Promotion. Bonuses are limited to one per SoFi Checking and Savings account. In the case of a joint account, only the primary account holder (the member who signed up first) is eligible for a bonus. Member must have an open SoFi Checking account in good standing at the time of the bonus payment.
Promotion Period: The Direct Deposit Promotion will begin on 12/7/2023 at 12:01AM ET and end on 1/31/2026 at 11:59PM ET. Bonus Terms: In order to qualify for a bonus of either $50 OR $300, SoFi must recognize receipt of at least one Eligible Direct Deposit (as defined below) from an Eligible Participant, the first of which must be before the end of the Promotion Period. The amount of the bonus, if any, will be calculated during the Direct Deposit Bonus Period as described and defined below.
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. After SoFi validates the details of your Eligible Direct Deposit, your Direct Deposit Bonus Period will be treated as having started on the date we receive your first Eligible Direct Deposit.
Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g. IRS tax refunds), do not constitute Eligible Direct Deposit activity. SoFi Bank shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine eligibility and may require additional documentation to complete this verification.
Direct Deposit Bonus Period: The Direct Deposit Bonus Period begins when SoFi receives an Eligible Direct Deposit of $1 or more within the Promotion Period and ends 25 calendar days later (the “Direct Deposit Bonus Period”), subject to the Bonus Terms. For the avoidance of doubt, the Direct Deposit Bonus Period shall not extend beyond the Promotion Period.
Bonus Amount: The bonus amount will vary based on the total amount of Direct Deposits received during the Direct Deposit Bonus Period.
Total Direct Deposit Amount Received During Direct Deposit Bonus Period Cash Bonus Tier $1.00 - $999.99 $0 $1,000.00 - $4,999.99 $50 $5,000.00 or more $300
Once the Direct Deposit Bonus Period has elapsed, SoFi will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within seven (7) business days. For example, if SoFi receives between $1,000.00 and $4,999.99 in Eligible Direct Deposits during the Direct Deposit Bonus Period, you will receive a one-time cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if Eligible Direct Deposits subsequently increase after the Direct Deposit Bonus Period.
Bonus Payment Timeline: SoFi will credit members who meet qualification criteria within seven (7) business days of the end of the Direct Deposit Bonus Period.
Tax Reporting: Bonuses are considered income and may be reportable on IRS Form 1099-INT or Form 1042-S as applicable.
Other Important Details: SoFi reserves the right to exclude any members from participating in this Promotion for any reason, such as suspected fraud, misuse, or suspicious activity. Sofi also reserves the right to modify or end the Promotion at any time.
Interest Rates: SoFi members can earn the following annual percentage yields (APY): With Eligible Direct Deposit: •Savings (including Vaults): 3.80% APY. •Checking: 0.50% APY. •No minimum Direct Deposit amount is required to earn the 3.80% APY on savings.
Without Eligible Direct Deposit: •Savings (including Vaults): 1.00% APY. •Checking: 0.50% APY. Other Rates Details: •Rates are variable and are subject to change at any time. •Rates are current as of 1/24/25. •No minimum balance is required. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. 1 SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at sofi.com/banking/fdic/sidpterms/. See list of participating banks at sofi.com/banking/fdic/participatingbanks.
2 SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. They do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Their fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
* We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
3 Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Eligible Participants: All new and existing members without any history of direct deposit transactions into their SoFi Checking and Savings account are eligible to earn a cash bonus of either $50 OR $300 under the Direct Deposit Promotion. Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings, whether currently still enrolled or not, do not qualify for this Direct Deposit Promotion. Bonuses are limited to one per SoFi Checking and Savings account. In the case of a joint account, only the primary account holder (the member who signed up first) is eligible for a bonus. Member must have an open SoFi Checking account in good standing at the time of the bonus payment.
Promotion Period: The Direct Deposit Promotion will begin on 12/7/2023 at 12:01AM ET and end on 1/31/2026 at 11:59PM ET. Bonus Terms: In order to qualify for a bonus of either $50 OR $300, SoFi must recognize receipt of at least one Eligible Direct Deposit (as defined below) from an Eligible Participant, the first of which must be before the end of the Promotion Period. The amount of the bonus, if any, will be calculated during the Direct Deposit Bonus Period as described and defined below.
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. After SoFi validates the details of your Eligible Direct Deposit, your Direct Deposit Bonus Period will be treated as having started on the date we receive your first Eligible Direct Deposit.
Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g. IRS tax refunds), do not constitute Eligible Direct Deposit activity. SoFi Bank shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine eligibility and may require additional documentation to complete this verification.
Direct Deposit Bonus Period: The Direct Deposit Bonus Period begins when SoFi receives an Eligible Direct Deposit of $1 or more within the Promotion Period and ends 25 calendar days later (the “Direct Deposit Bonus Period”), subject to the Bonus Terms. For the avoidance of doubt, the Direct Deposit Bonus Period shall not extend beyond the Promotion Period.
Bonus Amount: The bonus amount will vary based on the total amount of Direct Deposits received during the Direct Deposit Bonus Period.
Total Direct Deposit Amount Received During Direct Deposit Bonus Period Cash Bonus Tier $1.00 - $999.99 $0 $1,000.00 - $4,999.99 $50 $5,000.00 or more $300
Once the Direct Deposit Bonus Period has elapsed, SoFi will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within seven (7) business days. For example, if SoFi receives between $1,000.00 and $4,999.99 in Eligible Direct Deposits during the Direct Deposit Bonus Period, you will receive a one-time cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if Eligible Direct Deposits subsequently increase after the Direct Deposit Bonus Period.
Bonus Payment Timeline: SoFi will credit members who meet qualification criteria within seven (7) business days of the end of the Direct Deposit Bonus Period.
Tax Reporting: Bonuses are considered income and may be reportable on IRS Form 1099-INT or Form 1042-S as applicable.
Other Important Details: SoFi reserves the right to exclude any members from participating in this Promotion for any reason, such as suspected fraud, misuse, or suspicious activity. Sofi also reserves the right to modify or end the Promotion at any time.
Interest Rates: SoFi members can earn the following annual percentage yields (APY): With Eligible Direct Deposit: •Savings (including Vaults): 3.80% APY. •Checking: 0.50% APY. •No minimum Direct Deposit amount is required to earn the 3.80% APY on savings.
Without Eligible Direct Deposit: •Savings (including Vaults): 1.00% APY. •Checking: 0.50% APY. Other Rates Details: •Rates are variable and are subject to change at any time. •Rates are current as of 1/24/25. •No minimum balance is required. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. 1 SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at sofi.com/banking/fdic/sidpterms/. See list of participating banks at sofi.com/banking/fdic/participatingbanks.
2 SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. They do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Their fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
* We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
3 Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.