[Update]As of 10/10/2022, the APR of the Sofi Checking is 2.5%!
[Update]As of 8/14/2022, the APR of the Sofi Checking is 2%!
[Update]As of 7/26/2022, the ARP of the Sofi Checking is 1.8%.
SoFi is a NASDAQ public trade bank(Ticker: SOFI). It is very popular as a new FinTech company that offers financial solutions online(checking, saving, credit card, mortgage, personal loan, student loan, and brokerage account). It acquires the bank charter this February and started to offer a very attractive APR: of 1.8% for its checking account. The only requirement to have this APR is you must set up a Direct Deposit from your employer. Compared with other banks, this is very easy to meet, and you don’t need a high account balance to be qualified for this high APR. A high APR is certainly helping us anti-inflation in this inflation period.
SoFi has a promotion for new users:
- Get a bonus of up to $300 for new customers who signup for their SoFi hybrid checking & savings account and receive a direct deposit within 30 days:
- Get $50 bonus with direct deposit of $1,000 – $1,999
- Get $100 bonus with direct deposit of $2,000 – $4,999
- Get $300 bonus with direct deposit of $5,000+
This account won’t have any fees.