SoFi Review 2026
SoFi is a modern fintech company offering banking, lending, and investment services. Known for its all-in-one financial platform and competitive rates for members.
Founded
2011
Headquarters
San Francisco, CA
Total Assets
$30 billion
Branches
Online Only
BankingDeal Rating
Based on rates, fees, features, and customer satisfaction
4.5
out of 5.0
Rates & Fees
| Product | Rate / Fee |
|---|---|
| Savings APY | 4.00% |
| 12-Month CD APY | N/A |
| Checking Monthly Fee | $0 |
Rates shown are for illustration. Verify current rates directly with SoFi.
Products Offered
Pros & Cons
Pros
- Among the highest APY on checking and savings
- No account fees
- All-in-one financial platform
- Early direct deposit
- Member perks and career services
Cons
- No physical branches
- Newer bank charter
- Limited CD options
- Cash deposit options limited
Our Verdict
SoFi is an excellent choice for those who prefer online banking and want competitive rates without monthly fees. Among the highest APY on checking and savings, making it a strong contender in the online banking space. With a savings APY of 4.00%, it offers competitive returns on your deposits.
Related Resources
Frequently Asked Questions
Is SoFi a good bank?
SoFi has a rating of 4.5/5 on our scale. Among the highest APY on checking and savings. However, no physical branches. Whether it is right for you depends on your specific banking needs and priorities.
What is the savings account APY at SoFi?
SoFi currently offers a savings APY of 4.00%. This is a competitive rate compared to the national average. Rates are subject to change. Verify current rates directly with SoFi.
Does SoFi charge monthly fees?
SoFi offers checking accounts with no monthly maintenance fee.
What products does SoFi offer?
SoFi offers Checking Accounts, Savings Accounts, Personal Loans, Student Loan Refinancing, Investment Services, Credit Cards. As an online-only bank, all services are available through their website and mobile app.
Where is SoFi headquartered?
SoFi is headquartered in San Francisco, CA. Founded in 2011, SoFi Technologies, Inc. has grown to manage $30 billion in total assets. It operates exclusively online with no physical branch locations.