SoFi Offers 4.00% APY Savings Boost as Shares Tumble 40%
SoFi launched a high-yield savings account offering up to 4.00% APY (3.30% base plus 0.70% boost) for six months to customers who enroll in SoFi Plus by year-end. Shares have slumped about 40% year-to-date, prompting some analysts to call it a buying opportunity despite valuation concerns.
1. SoFi Launches 4.00% APY Savings Boost
SoFi introduced a high-yield savings account offering 4.00% APY for six months, combining a 3.30% base rate with a 0.70% promotional boost. Customers must open a SoFi Checking & Savings account and enroll in SoFi Plus by December 31, 2026.
2. Share Decline Fuels Buying Debate
SoFi shares have declined roughly 40% year-to-date, driven by concerns over sustained deposit costs and narrowing net interest margins. Some analysts view the pullback as a buying opportunity given the promotional rate boost and long-term growth prospects, while others warn of pressure on profitability if rates remain elevated.