Best Online Banks of [2025]

Online banking is more than a convenience. It's a way to earn more interest and save money on fees. Plus, you can get access to great features like savings buckets, high APYs, cash back opportunities, and electronic transfers.

Online banks and companies like SoFi®¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible 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. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> , Discover, Ally, and Quontic are a few we recommend for digital banking. These platforms offer competitive savings rates. Capital One provides an especially smooth online banking experience, and Ally's spending and savings buckets help you organize your funds. See which one is the best fit for your financial future.

Best online banks comparison

SoFi

SoFi® is a digital platform that offers one account, but that account is rewarding and unique enough to make this company worthy of our list. SoFi Checking and Savings accounts pay APYs significantly higher than the national rate of 0.41% (as of 4/21/25).¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible 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. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> What I'm most impressed with is the checking account APY of 0.50% (as of 01/24/25) with direct deposit — that's hard to come by at any bank. You can also earn up to 3.80% with direct deposit on your savings balances.⁴ <p>SoFi 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 30-Day Evaluation Period can earn 3.80% 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 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% 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 <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>

Plus, if you have direct deposit of at least $1,000, you get up to $50 in overdraft protection at no cost.⁵ <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.&nbsp; The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking &gt; Savings &gt; Current APY or (ii) Banking &gt; Checking &gt; Current APY.&nbsp; Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p>  While I don't promote going over your balance, it's a nice feature to have in your back pocket. My favorite feature, though, is the option to set up automatic roundups on debit card purchases for automatic savings.

SoFi also offers a great rewards program for members who complete different account activities, like using a SoFi credit card or setting up bill pay. Points can be redeemed for savings and perks on other SoFi products.

SoFi is a Member FDIC. ⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Visit SoFi Checking and Savings | Read our SoFi review

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY⁴ <p>SoFi 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 30-Day Evaluation Period can earn 3.80% 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 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% 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 <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible 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. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Limited-Time Offer: +0.20% Boost on Savings APY for 6 months on new accounts with Direct Deposit. Terms Apply.⁸ <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 6/10/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 6/24/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member&nbsp;FDIC.</p> FDIC Insured.⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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Discover Bank

If you have a chunk of change you want to earn a high APY on, Discover may be right for you. Its savings account offers a competitive APY at 3.60% with no monthly fee or minimum balance requirement.⁹ <p>Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 05/14/25. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.</p>

Discover also offers a cashback checking account. This is ideal if you already tend to pay for most of your expenses with your debit card, then you might as well earn a little cash back while you're at it. With the cashback checking account, you can earn up to $30 a month with its 1.00% cash back on up to $3,000 in debit card purchases, which is more interest than most people would earn on a regular basis.¹⁰ <p>Earn 1% cash back on up to $3,000 in debit card purchases each month. See Deposit Account Agreement for details on transaction eligibility, limitations and terms. Deposit Account Agreement can be found at <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf</a>.</p> If you open a checking and savings account, you can get the best of both worlds, cash back and interest.

Like most online banks, Discover offers high-yield CDs, but the kicker is that they start at 12 months and require a $2,500 deposit.¹¹ <p>A penalty may be charged for early withdrawal from a CD.</p> They don't offer 3-, 6-, or 9-month CD options, but they do offer terms from one to ten years, which is great for long-term goals, and the APYs don't get as low as most other banks with longer-term CDs. Member FDIC.

Visit Discover® Cashback Debit | Read our full Discover review

Ally

Saving up for a big trip or building an emergency fund can feel daunting, but I love that Ally has a simple solution to help me reach my goals with buckets. Think of them like subaccounts for either checking or savings. The spending buckets prevent you from spending funds saved for future expenses, and the savings buckets help you save for individual goals, such as a down payment on a house.

Ally Bank's Savings and Money Market accounts are both high-yield, which can also help your bank account grow. With no monthly fees and mobile deposit capabilities, it's easy to deposit money into your savings or money market accounts and earn interest daily. If you prefer to tie up your money a little longer, it offers some of the highest yields on CDs with options ranging from three months to five years.

Its checking account, which it calls a "spending account," even earns a little interest. It won't make you rich, but it's better than leaving your money sitting without earning interest. Member FDIC.

Learn more in our Ally review

Quontic

If you keep a high balance in your checking account and want your checking to earn some interest, consider banking with Quontic. You can earn up to 1.10% (as of 04/10/25) APY with its High Interest Checking on your balances, which is more than you'll get with the national average rate for interest checking at 0.07% (as of 4/21/25) APY¹² <p class="">The product and annual percentage yield (APY) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your area. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Always verify account details and availability with the financial institution before opening an account.<br></p> . You'll need to make at least 10 qualifying transactions of $10 or more each statement cycle to qualify for the rate. Quontic also offers another way to earn rewards for checking account customers by earning 1.0% cash back on all debit card purchases with its Cash Rewards Checking.

If you're also looking for somewhere safe to grow your savings, its High Yield Savings account earns 3.85% (as of 5/9/25) APY and only requires a $100 opening deposit. They also offer a Money Market Account that offers the best of both worlds. You earn a 4.25% (as of 03/05/25) APY, but also get a debit card and check writing privileges with only a $100 opening deposit.

Quontic also offers CDs from three months to five years with high interest rates, giving you the chance to put money away for longer-term goals.

Visit Quontic Bank | Read our Quontic Bank review

Move your money to this little-known (but highly powerful) account ASAP

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Capital One

Capital One shines thanks to its mobile app, which is a necessity when it comes to online banking. You can use it to seamlessly manage your checking, savings, and credit cards all in one place. You can even check your credit score through CreditWise by downloading the CreditWise app.

Capital One is a personal favorite, as I've used both the checking and savings accounts for years. The checking account is truly fee-free, and applying for an account takes just minutes. You can even earn a little interest on your checking account balance with the 0.10% (as of 04/28/25), while the 360 Performance Savings account earns a much higher 3.60%.

For those longer term goals, Capital One offers three CD options with no minimum balance requirement, each of which are high-yield:

• 11-month
• 2-year
• 5-year

Learn more in our Capital One review

Varo

I love that the Varo checking account offers a way to earn up to 6% cash back on debit purchases at select brands nationwide, so you can earn automatic cash back without giving it a second thought. You can earn up to 6% cash back when you spend at retailers like Kohl's, Fanatics, McDonald's, and more. You can also earn cash back if you decide to get a Varo Believe secured credit card. Its checking account has no monthly maintenance fees or minimum balance requirements.

If you have money to save, Varo offers a healthy 5.00% (as of 04/25/25) APY on up to $5,000, so I wouldn't suggest it if you have a large amount of money to save, but it can be good for smaller amounts. Plus, if you have a checking and savings account with Varo, they can round up your purchases to the nearest dollar and transfer the spare change to your savings account. It adds up faster than you think.

Plus, Varo solves the cash deposit problem that most online-only checking accounts face. You can deposit cash at 90,000+ retail locations by using Green Dot Reload, for a fee.

Read our full Varo review

Online banking pros and cons

Online banking offers many benefits including higher APYs, lower fees, and seamless money management 24/7 with a mobile app. But all of this comes with a tradeoff because you don't have access to physical branches, which for some people can be a downside.

When deciding if online banking is right for you, ask yourself if you're comfortable handling your transactions yourself or with phone support, and if you need to deposit cash often. Those are the two largest downsides of banking online.

I suggest having the best of both worlds, keeping an account at a brick-and-mortar location and also taking advantage of one of the best online banks and their many features.

Featured High Yield Savings Accounts

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY⁴ <p>SoFi 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 30-Day Evaluation Period can earn 3.80% 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 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% 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 <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible 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. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% 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 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit 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 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Limited-Time Offer: +0.20% Boost on Savings APY for 6 months on new accounts with Direct Deposit. Terms Apply.⁸ <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 6/10/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 6/24/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member&nbsp;FDIC.</p> FDIC Insured.⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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4.8

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Synchrony Bank High Yield Savings - 3.80% APY

Let your money work for you with great rates: count on it. Open a High Yield Savings account with Synchrony today. Member FDIC.¹³ <p>Annual Percentage Yield (APY) is subject to change at any time without notice. Rate accurate as of 6/3/2025. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.</p>

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How to choose the best online bank account

Choosing the best checking account or the best savings account might not seem like a big deal, but it can save you money on fees, and help you earn more interest. When trying to decide where to open a new account, consider the following:

• Fees: Look carefully at the fees charged by an online bank. Consider overdraft fees, account maintenance fees, and ATM fees, as they can add up quickly. Also, check for any other fees charged by the bank, such as foreign transaction fees and fees for accessing money from external accounts.
• Minimums to open and maintain an account: Be sure to check the minimum amount needed to open an account, as well as the amount needed to maintain it. You should determine whether there are penalties for falling below the minimum.
• Types of products: Online banks offer a variety of account types and products, so research the accounts offered by each bank you are considering. Gauge whether the various accounts meet your needs and savings goals. For example, some checking accounts focus more on rewards, while others focus on low fees.
• Interest rates: Compare the interest rates offered by different online banks. The higher the interest rate, the more money you'll earn on your balance.
• ATM Access: Make sure the bank has enough ATM access in your area to meet your needs. Additionally, check to see if your preferred accounts offer ATM rebates.
• Mobile check deposits: If you're frequently paid by check, you'll need an account that allows mobile check deposits.

FAQs

Banks that didn't make our list

Not all online bank accounts made the list. Here are a few others you may want to consider:

• American Express: Only current American Express cardholders are eligible for the American Express bank account. If you're eligible, it doesn't come with any fees or monthly minimum requirements, plus you earn Membership Rewards when you use your debit card.
• Charles Schwab: If you use Charles Schwab for your investment account, you may be eligible for a Charles Schwab checking or savings account. There are no monthly service fees and you can earn a small interest rate on your savings.

Bottom line

The online banking industry has come a long way in providing customers with safety, convenience, and competitive rates. Whether you're seeking a complete personal finance hub or a reliable checking account, selecting an online bank can help you achieve your financial goals as long as you don't mind not having a physical location to visit (in most cases).

With so many options available, it can be difficult to decide on the best bank to meet your needs. To narrow down your search, consider which factors are most important to you, such as fees, interest rates, and customer service.

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5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

High APY of up to 3.80%⁴ <p>SoFi 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 30-Day Evaluation Period can earn 3.80% 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 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% 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 <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> with direct deposit

Paycheck access up to 2 days early⁷ <p>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.</p>

No monthly maintenance or overdraft fees² <p>We 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 <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>

Streamlined savings and savings goals with Vaults

Access to a large ATM network³ <p>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.</p>

SoFi is a member FDIC⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>