SoFi - Banking & Investing

The Description of SoFi - Banking & Investing

Site Editorial Commentary：Mobile banking made easy. High-yield savings, investing, & budgeting in one app.

SoFi: Your all-in-one mobile banking and investing platform. Simplify your finances with easy-to-use tools for sending money instantly, depositing checks digitally, paying bills online, and tracking your spending with intuitive budgeting features. Grow your savings in high-yield accounts and trade stocks with no commission (other fees apply).

Join the 12.6M+ members who trust SoFi for their banking, investing, and saving needs.

MOBILE BANKING & CHECKING ACCOUNT
• Enjoy a checking account with no account fees and no minimum balance – mobile banking simplified.
• Get paid up to 2 days early⁵ with direct deposit and instant access to your funds.
• Send money, pay bills online, and transfer funds between accounts without incurring extra charges.

STOCK trading & INVESTING
• Trade stocks and etfs commission-free through SoFi Securities (other fees apply).
• Begin investing in fractional shares starting at just $5 to build a diversified stock portfolio (restrictions apply).
• Benefit from automated investing with digital portfolio management services from SoFi Wealth.

HIGH-YIELD SAVINGS ACCOUNT
• Earn a high APY¹ on your savings balances, maximizing your returns.
• Utilize Savings Vaults to effectively organize your emergency funds and savings goals in a single location.
• Transfer funds instantly between checking and savings accounts with no fees at any time.

PERSONAL loanS & CREDIT SCORE
• Access competitive personal loan rates for debt consolidation, home improvements, and significant purchases.
• Monitor your credit score with regular updates and helpful tracking tools.
• Pre-qualify for loans without impacting your credit score, allowing you to compare rates instantly.

BUDGET TOOLS & MONEY MANAGEMENT
• Utilize the budget tracker with automatic spending categorization across all of your linked accounts for clear insights.
• Receive real-time spending alerts to protect your accounts and stay within your budget.
• Get bill payment reminders to stay on track and avoid incurring late fees.

BANK SECURITY & CUSTOMER SUPPORT
• Benefit from bank-level encryption that safeguards your personal and financial information with proactive fraud alerts.
• Receive instant notifications for suspicious account activity, ensuring the safety of your money.
• Access our dedicated financial support team 7 days a week via chat or by calling (855) 456-SOFI (7634).

¹SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 31-Day Evaluation Period can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.60% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

²We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We 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. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁵Early 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.

⁹9x based on FDIC monthly savings account rate as of December 16, 2024. See SoFi Checking and Savings rate sheet for annual percentage yield (APY) details at: https://www.sofi.com/legal/banking-rate-sheet.