Is SoFi Checking and Savings Worth It?
A closer look at SoFi's hybrid account, its APY and who it is best for.
October 2, 2026 · 5 min read
SoFi Checking and Savings combines two accounts in one app with no account fees.
The rate
Members with direct deposit earn a top-tier APY on savings balances, among the best of any bank with checking.
Perks
- Paychecks up to two days early
- Savings vaults for goals
- Up to $2 million in FDIC coverage through partner banks
Drawbacks
You need direct deposit for the best rate, and there are no branches.
Verdict
If you want a modern all-in-one account and can set up direct deposit, SoFi is one of the best choices available.