SoFi Savings Offers 4% APY with 0.70% Boost Through Jan. 31, 2026
SoFi Savings offers 4.00% APY for six months through a 3.30% base rate plus 0.70% SoFi Plus boost on new accounts opened by January 31, 2026. This variable rate tops the 0.39% industry average and could drive deposit growth and low-cost funding for SoFi.
1. Promotion Details
SoFi Savings account provides a 3.30% base APY plus a 0.70% boost for SoFi Plus members, totaling 4.00% APY on new Checking & Savings accounts opened and enrolled by January 31, 2026. The rate is variable, subject to change per account terms and eligibility requirements.
2. Competitive Impact
At 4.00% APY, SoFi ranks above the 0.39% average industry savings rate, positioning it to attract new deposits. Increased low-cost funding could support SoFi’s lending activities and net interest margin if balances remain elevated beyond the promotional period.