SoFi Offers 4.00% APY Savings With 0.70% Six-Month Boost
SoFi is offering a high-yield savings account with up to 4.00% APY by combining a 3.30% base rate with a 0.70% APY boost for six months on new accounts opened by January 31, 2026. This rate would yield $408.08 in interest on a $10,000 deposit over one year.
1. SoFi Savings Rate Structure
The savings account features a 3.30% base APY plus a temporary 0.70% boost, delivering a total of 4.00% APY for qualifying new accounts. To qualify, the account must be opened and SoFi Plus enrollment completed by January 31, 2026.
2. Eligibility and Terms
Customers need to open a new SoFi Checking & Savings account and enroll in SoFi Plus to receive the promotional boost for up to six months. After the boost period, the APY reverts to the prevailing base rate, which remains variable and subject to change.
3. Interest Earnings Example
At 4.00% APY, a deposit of $1,000 would grow to $1,040.81 in one year, while a $10,000 deposit would earn $408.08 in interest. This starkly contrasts with the national average savings rate of 0.39%, underscoring the appeal of the high-yield offer.