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[08/14/2022 update 2% APR]SoFi Bank: 2% APR with up to $300 bonus

[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, brokerage account). It acquires the bank charter this February and started to offer a very attractive APR: 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+

Link

This account won’t have any fees.

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