News & Trending Banking News

The Fed Meets Again in December - Here’s One Savings Move to Make First

Your extra cash might have a better place to sit before the Fed announces its next rate move.

By Laura Hohenstein and Melinda Sineriz, ABFP®

Updated Nov. 12, 2026

Add Us On Google

Quick Read

$25,000 at a 4.00% annual percentage yield (APY) earns about $1,000 over one year, or roughly $83 a month.
The same $25,000 at the FDIC national average savings rate of 0.38% APY (as of 06/15/26) earns about $95 a year, or about $8 a month.
That's a gap of about $905 a year on money that can still stay liquid.
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 been meaning to deal with your savings account, the December Fed meeting is a useful nudge. The money is already there. The question is whether the account holding it is doing much work.

Before trying to guess the Fed's next move, check your own account's annual percentage yield (APY). Start with online banking, account details, or your latest monthly statement, then look near the interest information for the rate your savings is earning.

A high-yield savings account could make sense for extra money that doesn't need to cover bills this week. By the end, you should be able to separate what stays close, what can move, and what deserves another look after the Fed meeting.

Check your rate today

Open your bank app or your latest statement and find the APY on your savings account. If your account is paying something near the FDIC national average savings rate of 0.38% APY (as of 06/15/26), the rate gap is probably large enough to deserve attention.

The move before December is simple: consider moving money that has cleared its next job into a high-yield savings account paying around 4.00% APY. But not every dollar belongs there. Focus on extra savings beyond this month's bills and money you can leave untouched for a bit.

The Fed is the clock

The Federal Reserve's December 2026 meeting is scheduled for December 8 to 9, 2026, and the target range going into the meeting is 3.75% to 4.00%. Those details matter because Fed policy decisions influence short-term interest rates across the economy, including what financial institutions often choose to pay on deposits.

But the savings move doesn't need a perfect Fed forecast. If the Fed lowers rates, some savings APYs could drift down afterward. If it keeps rates steady, some accounts might hold their rates longer. Either way, the useful fact is already visible: a low-rate savings account and a roughly 4.00% APY high-yield savings account treat the same dollars very differently.

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 4.40% APY on your savings balance with direct deposit. (3.30% APY¹ with +1.10% APY Boost) for up to 6 months on new accounts.²

SoFi also offers more special features than any other account combo we looked at: No account fees: No overdraft fees.³ No minimum balance fees. No monthly fees.⁴ 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 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

Open an account with SoFi here.

Move the money that fits

The easiest way to avoid overthinking this is to sort your money by when you might need it. Money due before the end of the month belongs where payments already pull from, especially rent, mortgage payments, utilities, credit card autopays, and insurance premiums.

Keep a same-day emergency cushion close, too. If your car gets towed, a pet needs urgent care, or a debit card hold hits at the worst possible moment, you don't want to wait on a transfer from another institution.

High-yield savings works best for money with a little breathing room, such as:

Emergency savings beyond your same-day cushion.
Taxes, tuition, travel, or a down payment due months from now.
Extra cash you're holding for a near-term goal but don't need this week.

Some money doesn't belong here. Money for a home closing in three weeks might need to stay exactly where your closing process expects it, and money you don't expect to touch for several years or longer might need an investing conversation instead of another savings account.

What your cash could earn

Say you have $25,000 in savings and find a high-yield savings account paying 4.00% APY. Using a simple one-year estimate, $25,000 at 4.00% APY earns about $1,000 over 12 months.

The same $25,000 at the FDIC national average savings rate of 0.38% APY (as of 06/15/26) earns about $95 over one year. The difference is about $905. Same balance, different rate, very different result.

You can copy the rough math for your own savings account balance:

$25,000 x 0.04 = $1,000

So if your goal is to earn about $100 per month in interest, turn that into about $1,200 per year and divide by the rate. At 4.00% APY, the math is $1,200 / 0.04 = $30,000, so a $30,000 balance earns about $1,200 over one year.

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

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

The friction is mostly practical

The annoying parts are real, but they're usually manageable once you know what to check. External transfers between institutions can take time to clear, so money you could need immediately should stay in the account you already use for fast access.

A high-yield savings account at another institution could also feel different from your everyday checking account. You might need to link an outside account, verify small deposits, or wait for the first transfer to finish, which is why it helps to understand how online savings accounts work before moving money.

Before you move money, check the account terms that affect real life:

Minimum opening deposit.
Minimum balance to earn the stated APY.
Monthly maintenance fee.
Transfer options and withdrawal access.
Whether the account needs a linked checking account.

The tradeoff is that high-yield savings rates are variable. You keep access to your cash, but you also need to check back if the rate environment shifts.

Check once after December

After the Fed posts its December decision, look at your savings APY again. You don't need to chase every tiny rate difference, but you should know whether your account still sits near the high-yield savings market or has slipped far below it.

A simple review works fine: check your current APY, compare it with the rates you're seeing on high-yield savings accounts, and decide whether the money still belongs there. If the account remains competitive and the money still fits the high-yield savings bucket, there might be nothing else to do.

Bottom line

The December Fed meeting is a prompt, not a prediction. The practical move is to find the APY on your current savings account and move only the money that fits into a high-yield savings account.

On $25,000, a 4.00% APY earns about $1,000 over one year, while the FDIC national average savings rate of 0.38% APY (as of 06/15/26) earns about $95. That $905 gap is the reason to look before December, not after.

Saving for a down payment, a wedding, or next April's tax bill? That money could be earning up to 4.40% APY for up to 6 months while it sits.² Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) 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 12/31/27. 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.

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
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.	4.40 % APY With $0 min. balance² <p>Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) 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 12/31/27. 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>	Limited-Time Offer: +1.10% boost on Savings APY to up to 4.40% for up to 6 months on new accounts² <p>Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) 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 12/31/27. 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 direct deposit.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 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: +1.10% boost on Savings APY to up to 4.40% for up to 6 months on new accounts² <p>Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) 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 12/31/27. 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 direct deposit.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 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.
4.3 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.	4.35 % APY With $5,000 min. balance⁷ <p>Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.</p>	Limited-Time Offer: Earn up to 4.35% APY (3.75% APY⁷ <p>Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.</p> with +0.60% APY Boost) on balances of $5,000 or more for up to 6 months.⁸ <p>*This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria. Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.60% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate. The Promotion begins on November 3, 2026, and ends December 15, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions. The promotion can end at any time without notice.</p> Enter code Boost60 to qualify. $100 minimum opening deposit.	Learn More on CIT Bank's secure website Member FDIC	Limited-Time Offer: Earn up to 4.35% APY (3.75% APY⁷ <p>Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.</p> with +0.60% APY Boost) on balances of $5,000 or more for up to 6 months.⁸ <p>*This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria. Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.60% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate. The Promotion begins on November 3, 2026, and ends December 15, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions. The promotion can end at any time without notice.</p> Enter code Boost60 to qualify. $100 minimum opening deposit.
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.	4.25 % APY With $0 min. balance⁹ <p>Select Savings from Barclays Annual Percentage Yield (APY) on all balance tiers is accurate as of 10/07/2026. Rates may change at any time without prior notice, before or after the account is opened.</p>	Special Offer: Earn a $400 Bonus when you deposit at least $40,000 within 30 days and maintain that balance for 120 consecutive days.¹⁰ <p>$400 Bonus Offer: To qualify for this bonus offer, you must be a new Select Savings from Barclays customer, open an account through 1/31/2027, fund your new savings account with at least $40,000 within the first 30 days of opening the account, and maintain the balance of at least $40,000 for 120 consecutive days.  After you maintain the $40,000 balance for 120 consecutive days, the $400 bonus will be added to your account in approximately 60 days. The bonus will be applied and treated as interest for tax purposes and could require Barclays to send you a Form 1099-INT (Interest Income) and file it with the IRS for the year in which you earn the bonus.  Offer expires 1/31/2027.</p> <p>You may make multiple deposits to your account from another financial institution(s) to meet the offer requirements, provided these deposits all occur no later than 30 days after opening the new Select Savings account.  The funds deposited into your Select Savings account will earn the current annual percentage yield listed on Barclays Select Savings for the Select Savings account.  Withdrawals could affect your eligibility to earn the bonus if the withdrawal causes the account balance to drop below $40,000. The 120 consecutive days will not start until the $40,000 is deposited within 30 days from opening the account.  While there is no minimum balance required to open a Select Savings account, as described above there is a minimum balance required to earn the bonus offer. Offer subject to change or cancellation without notice.</p> ¹¹ <p>You'll need your current AARP membership number to open an AARP Digital Banking from Barclays account.</p><p>AARP member benefits are provided by third parties, not by AARP or its affiliates. Barclays Bank Delaware (Barclays) pays royalty fees to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. Some Barclays offers are subject to change and may have restrictions. Please contact Barclays directly for details.  AARP Digital Banking is provided by Barclays, Member FDIC. AARP is not a FDIC insured institution.</p>	Learn More on Barclays' secure website Member FDIC	Special Offer: Earn a $400 Bonus when you deposit at least $40,000 within 30 days and maintain that balance for 120 consecutive days.¹⁰ <p>$400 Bonus Offer: To qualify for this bonus offer, you must be a new Select Savings from Barclays customer, open an account through 1/31/2027, fund your new savings account with at least $40,000 within the first 30 days of opening the account, and maintain the balance of at least $40,000 for 120 consecutive days.  After you maintain the $40,000 balance for 120 consecutive days, the $400 bonus will be added to your account in approximately 60 days. The bonus will be applied and treated as interest for tax purposes and could require Barclays to send you a Form 1099-INT (Interest Income) and file it with the IRS for the year in which you earn the bonus.  Offer expires 1/31/2027.</p> <p>You may make multiple deposits to your account from another financial institution(s) to meet the offer requirements, provided these deposits all occur no later than 30 days after opening the new Select Savings account.  The funds deposited into your Select Savings account will earn the current annual percentage yield listed on Barclays Select Savings for the Select Savings account.  Withdrawals could affect your eligibility to earn the bonus if the withdrawal causes the account balance to drop below $40,000. The 120 consecutive days will not start until the $40,000 is deposited within 30 days from opening the account.  While there is no minimum balance required to open a Select Savings account, as described above there is a minimum balance required to earn the bonus offer. Offer subject to change or cancellation without notice.</p> ¹¹ <p>You'll need your current AARP membership number to open an AARP Digital Banking from Barclays account.</p><p>AARP member benefits are provided by third parties, not by AARP or its affiliates. Barclays Bank Delaware (Barclays) pays royalty fees to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. Some Barclays offers are subject to change and may have restrictions. Please contact Barclays directly for details.  AARP Digital Banking is provided by Barclays, Member FDIC. AARP is not a FDIC insured institution.</p>
4.6 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.	4.00 % APY With $0.01 min. balance¹² <p>Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 10/12/2026. No minimum opening balance or deposit required. Rates may change at any time without prior notice. Customers must have a balance of $0.01 to earn interest. Fees may reduce earnings.</p>	—	Learn More on Live Oak Bank's secure website Member FDIC	—

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

4.40%

Minimum Balance for APY

Bonus Offer

Up to $400

Why We Like It

Limited-Time Offer: Earn a $50 or $400 cash bonus¹ 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 4.40% APY² Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) 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 12/31/27. 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 (3.30% APY¹ 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 +1.10% APY Boost) for up to 6 months when you open a new account and set up eligible direct deposits. Terms apply.
No account, overdraft, or 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 your paycheck up to two days early with 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 $3 million.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>.
Excellent 4.3/5