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SoFi Bank Launches High-Yield Account with No Fees

2/21/2026

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Story summary
  • SoFi Bank offers a combined Checking and Savings account with up to 4.30% APY on savings and no maintenance fees.
  • SoFi Bank provides FDIC insurance up to $3 million through the SoFi Insured Deposit Program.
  • SoFi Bank allows customers to qualify for no-fee overdraft coverage with direct deposits of at least $1,000 within 31 days.
  • Outgoing wire transfers incur transaction fees.
  • Direct-deposit funds may arrive up to two days early.