The Best Just Got Better: SoFi Announces 1.25% APY for Direct Deposit Members

Apr 05, 2022

SoFi Technologies, Inc. (NASDAQ: SOFI) (“SoFi”), the digital personal finance company, today announced SoFi Checking & Savings¹ will now offer an industry-leading 1.25% annual percentage yield (APY)² for all members who have direct deposit, an increase from the previous already best-in-class 1.00% APY offered. SoFi will offer 0.70% APY for those looking for a high yield opportunity without direct deposit. SoFi Checking and Savings also allows members to earn these increased rates on all of their money with SoFi Checking & Savings, with no limits or balance caps to earn interest. This is the latest in a series of improvements SoFi has launched to provide better banking for their members, which also includes no-fee crypto purchases via direct deposit³, zero account or overdraft fees, no minimum balance, no limits on transfers between checking and savings accounts, up to two-day early paychecks⁴, and fee-free ATM access via the Allpoint network⁵.

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