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Keeping $30,000 at a Big Bank Could Cost You $1,150 This Year

Your savings may feel comfortable at a familiar bank, but $30,000 at a low rate can leave real money on the table.

By Laura Hohenstein , Edited by Melinda Sineriz, ABFP®

Updated Sept. 10, 2026

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$30,000 at 4.00% APY earns about $1,200 over one year, or roughly $100 a month.
The same $30,000 at 0.17% APY earns about $51 over one year, or about $4 a month.
The gap is about $1,150 a year if your current account pays around 0.17% APY.
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 account. See SoFi®'s current rate.

Maybe your savings landed at the same institution as your checking account years ago and stayed because nothing felt broken. The app is familiar, transfers feel easy, and the account sits there until you need it.

But safety and yield are separate jobs. A high-yield savings account, sometimes called a HYSA, could keep your cash accessible while paying much more than a basic savings account that turns your interest into pocket change.

The useful move is to decide which part of your $30,000 belongs in high-yield savings, which part needs to stay near checking, and whether the interest difference is enough to make a transfer worth your time.

The $1,150 gap is math

Start with the high-rate side. If you have $30,000 in a high-yield savings account paying 4.00% APY, a rate available in the current high-yield savings market (as of 09/03/26), that savings account balance earns about $1,200 over one year. When you're checking savings rates, annual percentage yield is the figure that lets you compare one account with another.

Now work backward from the headline difference. For a $1,150 opportunity cost, your current account would earn about $50 over the same year. On $30,000, that works out to roughly 0.17% APY:

$50 / $30,000 = 0.0017, or about 0.17%.

So the headline applies if your big-bank savings account pays around 0.17% APY while a similar high-yield savings account pays around 4.00% APY. Some major brick-and-mortar savings accounts have advertised APYs as low as 0.01% to 0.04% (as of 09/03/26), which would make the gap even larger. If your current APY is higher, your personal difference is smaller, but the same math still shows you what you're giving up.

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

Find your real APY

Before you compare accounts, find the APY on the savings account you already have. The account nickname doesn't matter much. "Relationship savings," "premier savings," and "regular savings" all sound better than they often pay, so you need the actual number.

You can usually find your APY in a few places:

The account details screen in online banking or the mobile app
Your monthly statement
An interest summary or tax summary
A rate information link inside your account profile

Once you have your APY, replace the low-rate side of this article's math with your own number. If your $30,000 earns 1.00% APY for one year, that's about $300, which makes the difference against 4.00% about $900. Still real money, just not the full $1,150.

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 savings, not bill money

Because high-yield savings pays more, moving the full $30,000 can be tempting. But some cash has a bigger job: being available immediately when a bill hits.

Money for rent, a mortgage payment, utilities, card autopay, insurance premiums, or a purchase closing in the next few days usually belongs where you can reach it immediately. If moving that bill money creates even a tiny chance of an overdraft or a late payment, the extra interest isn't worth the hassle.

High-yield savings tends to fit better for money that has a short-term purpose but doesn't need to leave your account today. Think emergency reserves, tax money, a future car repair, a vacation fund, or cash you're setting aside for a home project in a few months. You still want access, but you probably don't need the money at 8 a.m. tomorrow.

There's also a third pile: money you won't need for five or more years. It might deserve a broader planning conversation because a savings account is built for stability and access rather than long-term growth.

Scale the win to your cash

You can scale the benefit instead of moving everything. If $30,000 at 4.00% APY earns about $1,200 over one year, then $15,000 at 4.00% APY earns about $600 over one year. Same rate, half the balance, half the interest.

That shortcut helps if your $30,000 has multiple jobs: $5,000 near checking for bills, $15,000 in emergency savings, and $10,000 for a planned expense later this year. In that setup, the $15,000 emergency fund might be the strongest high-yield savings candidate.

Then compare only the amount you can move with your current APY. If $15,000 sits at 0.17% APY for one year, it earns about $26. If that same $15,000 earns 4.00% APY for one year, it earns about $600, for a difference of about $574.

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

Transfers are the real catch

The main tradeoff with high-yield savings is usually access speed rather than safety. If your high-yield savings account sits at a different institution from your everyday checking account, an external transfer could take time. Standard ACH transfers are often described as taking one to three business days, while Nacha says ACH payments can be processed same day or scheduled for the following day or two business days away. That's why money for a bill due in a few days should stay where you can use it right away.

Linked accounts can come with setup steps, such as verifying small test deposits, confirming ownership, or waiting for a new transfer connection to become usable. First transfers to newly linked external accounts can take several business days while the connection is verified, so don't assume the first transfer works like moving money between two accounts at the same institution.

Emergency access deserves a plain answer

A high-yield savings account can be reachable, but it might not feel as instant as cash tied to your debit card or regular checking account. If your emergency plan depends on paying a tow truck, contractor, or doctor today, keep some cash in the account you already use for same-day spending.

Deposit insurance is a separate issue from transfer speed. FDIC coverage applies at insured banks, and NCUA share insurance applies at federally insured credit unions. The standard coverage limit is $250,000 per depositor, per insured institution, per ownership category. That limit helps when you're comparing account categories, but you still need to confirm the institution and ownership setup before you treat any account as insured.

Check costs before chasing yield

A 4.00% high-yield savings rate is worth a look only if the account fits how you use money. The APY gets your attention, but fees, balance rules, and access decide how much of that yield you keep.

Check these terms before moving money:

Minimum opening deposit
Minimum balance needed to earn the stated APY
Monthly maintenance fees
Excess transaction or withdrawal fees where they apply
Fees for wires or other same-day transfer options
Whether the savings rate is variable

Some high-yield savings accounts use minimum deposit or balance requirements, and savings account rates are commonly variable. So the useful comparison is your actual account after costs, delays, and balance rules.

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.

Bottom line

If $30,000 is sitting in a very low-yield savings account and the money fits high-yield savings, a 4.00% APY earns about $1,200 over one year. Leaving that same $30,000 at a rate that earns about $50 means giving up about $1,150.

Your next move is simple: check your current APY, keep bill money where you can reach it immediately, and compare only the portion of your savings that can safely sit elsewhere. If the cash you can move is earning almost nothing, the cost of doing nothing is no longer small.

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 & Savings Combo

SoFi

5.0

Open Account

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