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Why $90,000 in a Low-Rate Savings Account Could Cost $3,250 a Year

A big balance can feel safe, but a low rate can leave thousands of dollars a year on the table.

By Laura Hohenstein , Edited by Melinda Sineriz, ABFP®

Updated Sept. 23, 2026

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Quick Read

$90,000 at 4.00% APY earns about $3,600 over one year, or roughly $300 a month.
The same $90,000 at the FDIC national average of 0.38% APY (as of June 15, 2026) earns about $350 over one year, or roughly $29 a month.
That rate difference leaves about $3,250 a year on cash that could still stay in savings and be easy to reach.
At the national average savings rate of 0.38% (as of 06/15/26), $20,000 earns $76 a year. The same balance could earn up to nine times more with a SoFi Checking and Savings account. See SoFi®'s current rate.

If you've built up $90,000 in savings, that balance probably feels like progress. It should. The problem is that a savings account can look responsible on the surface while the rate quietly does almost none of the work.

That's where a high-yield savings account, or HYSA, can change the conversation. In the current savings market, 4.00% APY is an achievable high-yield rate, and the annual percentage yield tells you how much your savings earns over a year.

So the decision is which dollars need this exact account and which dollars could earn more while staying available. Once those jobs are clear, the $90,000 is easier to split by purpose, rate, and access.

$20,000 earning nothing could mean $66 a month, gone. Move it to SoFi and earn up to 4.20% APY on Savings for up to 6 months.¹ Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC.

The $3,250 gap is rate math

Here's the headline math. A $90,000 balance at 4.00% APY earns about $3,600 over one year. The same $90,000 at the FDIC national average of 0.38% APY (as of June 15, 2026) earns about $350 over one year.

The difference is about $3,250. Same balance, same year, very different result because the rate does the work.

If you have	One year at 0.38% APY (national average)	One year at 3.80% APY (example)	You are leaving behind
$10,000	$38	$380	$342
$25,000	$95	$950	$855
$40,000	$152	$1,520	$1,368
$50,000	$190	$1,900	$1,710
$100,000	$380	$3,800	$3,420

That $3,250 isn't a fee, and no money disappears. It's missed interest. If your current account pays more than the low-rate example, your difference shrinks. If it pays less, the difference grows.

Find your account's real rate

Before you compare anything, find the APY on your current savings account. Check your account details, rate page, monthly statement, or posted interest.

A tiny-looking rate matters more when it's applied to $90,000 instead of $900. One percentage point on $90,000 equals about $900 over one year. So a rate that looks like a rounding error on a small balance could be rent money, insurance money, or a cushion on a larger one.

If you only see dollars of interest and no APY, use the statement as a clue. Earning roughly $29 a month on $90,000 lines up with the low-rate example above.

We did the research for you.

Having your checking and savings accounts with the same financial institution can make money management a lot simpler. SoFi® was our 2026 award winner for Best Checking and Savings Combo because it delivers on interest and additional features.

For example, you could earn up to 4.20% APY on your savings balance with direct deposit. (3.30% APY² 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 within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. 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 5/15/2026 and will be available through 12/31/2026. 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. SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% 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 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>. with +0.90% APY Boost) for up to 6 Months on new accounts.¹ Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC. SoFi also offers more special features than any other account combo we looked at:

No account fees: No overdraft fees.³ Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a>. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website. No minimum balance fees. No monthly fees.⁴ We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>.

Get paid up to two days early: Feel the magic of payday up to two days earlier — automatically — when you set up direct deposit.⁵ 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.

Access additional FDIC insurance up to $3M: Typically, single-member deposit accounts are federally insured up to $250,000. With SoFi, FDIC insurance up to $3 million on deposits is available through a seamless network of participating banks.⁶ 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. 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 <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>.

Open an account with SoFi here.

Move the dollars that fit

The cleanest way to think about $90,000 is to stop treating your savings like one pile. Give each part of the balance a job, then decide which jobs fit high-yield savings.

A HYSA tends to fit money that needs separation from daily spending and reasonably quick access, such as:

Emergency savings you don't expect to spend this month.
A home repair fund or car repair fund.
Tax money due later, with enough lead time for a transfer.
Tuition, insurance, or a down payment fund that needs to stay out of daily spending.

Some dollars belong somewhere closer. Rent, mortgage payments, and automatic bills due this week need predictable timing. Money for a closing in a few days needs certainty more than extra interest.

Money meant for long-term growth over many years needs a different plan. A HYSA is useful for cash you want available instead of invested for decades.

Your old account still has jobs

Your current savings account can still earn its space. If it's linked to checking, covers transfers, or gives you branch or ATM access, that convenience has value.

But convenience doesn't have to apply to the full $90,000. You might keep enough in the old account to handle bill timing and same-bank transfers, then compare rates on the portion that's truly savings.

That's the useful tradeoff. If $20,000 needs to stay near checking, the question becomes whether the remaining $70,000 is worth leaving at a low rate. Habit is easy, but habit gets expensive when the extra cash has no job there.

Your money is already saved. Now see how it could be earning you hundreds per year.

The snags are practical, not mysterious

Moving savings between institutions isn't always instant. Cash for a same-day emergency needs to stay where you can reach it immediately, even if another account pays more on money you don't need today.

Insurance is another box to check, especially with a $90,000 balance. For FDIC-insured banks, deposit insurance generally covers eligible deposits up to $250,000 per depositor, per insured bank, for each ownership category. The $90,000 example fits under that limit in many simple ownership setups, but joint accounts, trusts, and multiple accounts are worth checking carefully.

Account terms also vary. Some savings accounts have minimum opening deposits, minimum balances to earn a stated rate, monthly maintenance fees, transaction rules, or other conditions that affect whether the account works for your money.

Rates move, so build in an occasional check. Earning 4.00% APY now is useful, but a high-yield savings account shouldn't get a lifetime appointment.

Run the number yourself

Use this shortcut for a rough one-year difference:

Annual gap = savings balance x (high-yield savings APY - current savings APY)

For the headline example, the math looks like this:

$90,000 x (0.0400 - 0.0038) = about $3,250

In plain English, $90,000 multiplied by the difference between 4.00% APY and 0.38% APY lands near $3,250 over one year.

Your transferable balance could be smaller, and that's fine. If only $50,000 truly fits high-yield savings, the difference between 4.00% APY and 0.38% APY gives you this:

$50,000 x (0.0400 - 0.0038) = about $1,810 over one year

A higher current APY lowers the difference, too. The point is to use your balance and your rate, not to force your life into the headline number.

Bottom line

If $90,000 that truly belongs in savings is earning 0.38% APY (as of June 15, 2026) instead of 4.00% APY, the difference is roughly $3,250 over one year. That's a lot of grocery runs for money that's already sitting there.

Check your current APY, split your cash by purpose, and compare the difference only on the dollars that fit high-yield savings. Keep bill money where timing matters, but don't let convenience quietly claim the whole balance.

Would You Spend Ten Minutes for $1,465?

That's roughly the year's difference on $40,000 between the national average and the up-to-4.00% rates available now. And ten minutes isn't a figure of speech. You just provide some information, like your name, address, Social Security number, and the account your deposit money's coming from. But rates are variable and follow the market, which is why the only number worth acting on is today's. Compare the current top accounts here.

Bank/Institution	APY Annual Percentage Yield	Bonus Offer	Open Account	Bonus Offer
2026 AWARD WINNER Best Checking and Savings Combo
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.	4.20 % APY With $0 min. balanceEarn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.	Limited-Time Offer: +0.90% boost on Savings APY to up to 4.20% for up to 6 months on new accounts¹ <p>Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC.</p> + $50 or $400 Bonus with eligible direct deposit.² <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 within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. 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 5/15/2026 and will be available through 12/31/2026. 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. SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% 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 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply.	Learn More on SoFi's secure website Member FDIC	Limited-Time Offer: +0.90% boost on Savings APY to up to 4.20% for up to 6 months on new accounts¹ <p>Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC.</p> + $50 or $400 Bonus with eligible direct deposit.² <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 within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. 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 5/15/2026 and will be available through 12/31/2026. 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. SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% 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 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply.
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.	4.20 % APY With $250+ monthly depositsLevelUp Rate of 4.20% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.00% APY. LevelUp Rate applies to first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.happen.com/legal/deposits/levelup-savings-t-and-cs	—	Learn More on Happen Bank's secure website Member FDIC	—
4.9 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.	3.64 % APY With $1 min. balance⁷ <p>APY means Annual Percentage Yield. APY is accurate as of as of 09/01/26. This is a variable rate account, Interest rate and APY may change after initial deposit. Minimum initial deposit to open account and earn interest is $1.00.</p>	Limited-Time Offer: Use code STACK to earn a cash bonus based on your savings balance. Earn up to $50 for $10,000, $125 for $25,000, $250 for $50,000, $500 for $100,000, or $1,000 for $200,000 or more. Visit site for full details.⁸ <p>New customers only. Earn a cash bonus (the "Welcome Bonus") when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Welcome Bonus of $40 for depositing between $10,000 and $24,999; $100 for depositing between $25,000 and $49,999; $200 for depositing between $50,000 and $99,999; $425 for depositing between $100,000 and $199,999; and $900 for depositing $200,000 or more. If the Qualifying Deposit balance declines at any time during the maintenance period below the minimum required for a bonus tier, the customer will be placed in the bonus tier corresponding to the lowest Qualifying Deposit balance maintained during that period. </p><p>Savings + CD Boost: Customers eligible for the Welcome Bonus may earn an additional bonus by opening a product in a second product category. To qualify, customers must deposit at least $1,000 into the secondary product category within 14 days of their initial deposit and maintain balances over $1,000 in both categories through 90 days from the initial deposit date.</p><p>For the purposes of this promotion, High-Yield Certificates of Deposit constitute one product category; No-Penalty CDs and Callable CDs constitute a second product category; and Savings Accounts (including Money Market Deposit Accounts, High-Yield Savings Accounts, and Rate Lock Savings Accounts) constitute a third product category. Savings + CD Boost eligibility is determined by your Welcome Bonus tier: customers depositing between $10,000–$24,999 receive an additional $10; $25,000–$49,999 receive an additional $25; $50,000–$99,999 receive an additional $50; $100,000–$199,999 receive an additional $75; and $200,000 or more receive an additional $100. </p><p>The Savings + CD Boost is optional and paid in addition to the Welcome Bonus. To qualify for the Welcome Bonus and Savings + CD Boost, your first deposit must be initiated between September 1, 2026, and September 30, 2026, by 11:59 PM ET, and the promo code STACK must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days of the initial deposit date will be eligible for the Welcome Bonus and Savings + CD Boost. Bonus cash will be credited directly to your Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only, is non-transferable, and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.</p>	Learn More on Raisin's secure website Member FDIC	Limited-Time Offer: Use code STACK to earn a cash bonus based on your savings balance. Earn up to $50 for $10,000, $125 for $25,000, $250 for $50,000, $500 for $100,000, or $1,000 for $200,000 or more. Visit site for full details.⁸ <p>New customers only. Earn a cash bonus (the "Welcome Bonus") when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Welcome Bonus of $40 for depositing between $10,000 and $24,999; $100 for depositing between $25,000 and $49,999; $200 for depositing between $50,000 and $99,999; $425 for depositing between $100,000 and $199,999; and $900 for depositing $200,000 or more. If the Qualifying Deposit balance declines at any time during the maintenance period below the minimum required for a bonus tier, the customer will be placed in the bonus tier corresponding to the lowest Qualifying Deposit balance maintained during that period. </p><p>Savings + CD Boost: Customers eligible for the Welcome Bonus may earn an additional bonus by opening a product in a second product category. To qualify, customers must deposit at least $1,000 into the secondary product category within 14 days of their initial deposit and maintain balances over $1,000 in both categories through 90 days from the initial deposit date.</p><p>For the purposes of this promotion, High-Yield Certificates of Deposit constitute one product category; No-Penalty CDs and Callable CDs constitute a second product category; and Savings Accounts (including Money Market Deposit Accounts, High-Yield Savings Accounts, and Rate Lock Savings Accounts) constitute a third product category. Savings + CD Boost eligibility is determined by your Welcome Bonus tier: customers depositing between $10,000–$24,999 receive an additional $10; $25,000–$49,999 receive an additional $25; $50,000–$99,999 receive an additional $50; $100,000–$199,999 receive an additional $75; and $200,000 or more receive an additional $100. </p><p>The Savings + CD Boost is optional and paid in addition to the Welcome Bonus. To qualify for the Welcome Bonus and Savings + CD Boost, your first deposit must be initiated between September 1, 2026, and September 30, 2026, by 11:59 PM ET, and the promo code STACK must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days of the initial deposit date will be eligible for the Welcome Bonus and Savings + CD Boost. Bonus cash will be credited directly to your Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only, is non-transferable, and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.</p>

Limited-Time Offer

2026 AWARD WINNER Best Checking and Savings Combo

SoFi Checking and Savings

5.0

Open Account on SoFi's secure website, Member FDIC

APY

4.20%

Minimum Balance for APY

Bonus Offer

Up to $400

Why We Like It

Limited-Time Offer: Earn a $50 or $400 cash bonus² 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 within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. 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 5/15/2026 and will be available through 12/31/2026. 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. SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% 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 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>. plus a boosted up to 4.20% APY¹ Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC. on Savings for up to 6 months when you open a new account and set up eligible direct deposits. Terms apply.
No account, overdraft, or monthly fees⁴ We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>.
Get your paycheck up to two days early with direct deposit⁵ 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.
Access additional FDIC insurance up to $3 million⁶ 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. 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 <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>.
Excellent 4.3/5

Open Account on SoFi's secure website, Member FDIC