SoFi Bank now provides a base 3.3% APY on all savings balances with no minimum deposit requirement. Eligible SoFi Plus members can enroll by December 31, 2026 to receive an additional 0.7% rate boost, raising the APY to 4.0% for six months, though rates remain variable.

The enhanced yield aims to attract new deposits and increase average customer balances, potentially boosting net interest income. Management will monitor margin pressures as higher rates paid on deposits could compress interest spread if loan yields do not rise proportionally.

Following the latest earnings report, SoFi's share price has trended lower, with traders probing support near recent lows. The broader market’s risk-off sentiment has intensified selling pressure as investors assess the sustainability of SoFi’s growth trajectory.