SoFi: Banking & Investing 4+

APY 4.20% | Zero Bank Fees‪*‬

Social Finance, Inc

    • Free



Earn up to 4.20% on checking and savings accounts with SoFi.*

Get up to $1000 in stock when you fund an active Invest account.†

• Earn more, save more, and make the most of your money with SoFi Plus
• Track your money like a champion with SoFi Insights (formerly SoFi Relay)
• Get paid up to 2 days early when you set up direct deposit**
• Experience zero account fees and no fee overdraft coverage with SoFi Checking and Savings***
• Save automatically, set savings goals, and organize your money with SoFi Vaults and Roundups

• Active investing in stocks, ETFs, and more - without commission
• Experience user-friendly options trading with no contract fees
• You can invest in your favorite company with as little as $5 with SoFi Fractional Shares (restrictions apply)
• Plan for retirement with SoFi’s IRAs and other investment products
• Invest in upcoming IPOs before they hit the public market (if eligible)****

• Connect all your accounts on one mobile dashboard
• Monitor your credit score at no cost
• Track your spending and manage your budget
• Talk 1-on-1 with a financial planner to set personalized goals
• SoFi can alert you of upcoming bills so you never miss a payment

• Check your balance and pay your bills all within the SoFi app
• SoFi keeps your personal information guarded against fraud
• Make international purchases without any extra fees
• Receive up to $1000 of complimentary cell phone insurance coverage^
• Earn unlimited 2% cash back rewards^^

Support: Call (855) 456-SOFI (7634) or chat with us online at



*SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking balances and savings balances without direct deposit (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. Additional information can be found at

†Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.

**Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date.

***Overdraft Coverage is limited to $50 on debit card purchases only and is available to customers with monthly direct deposits of $1,000 or more. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

****Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement.

^This World Elite Mastercard® Benefit comes with $1,000 in yearly coverage ($800 max per claim, 2 claims per year) should your cell phone get stolen or need certain repairs. Simply pay for your cell phone bill with your World Elite Mastercard to activate coverage. See ‘Peace of Mind’ section in your guide to benefits for details or call 1-800-MASTERCARD.

^^See Rewards Details at

What’s New

Version 2.154

We've made a bunch of bug fixes and improvements to help get your money right. It all adds up. Something else you'd like to see? Tell us more at

Ratings and Reviews

4.8 out of 5
246.2K Ratings

246.2K Ratings

MoneyMagnet8 ,

Some Suggestions

I am currently trading in 7 platforms right now. SOFI is my second favorite platform. I came back today in Sofi to add more money to my IRA and noticed that some stocks that I have I am not able to buy it anymore. I can only sell it but then I realized why I can’t buy it anymore. Sofi actually trying to help me to not keep losing money to those stocks that became penny stocks and then later on do a 1 to 25 - 1 to 100 reverse split. Thank you sofi for saving me. 😁. I do have couple suggestions though since I have invested quite an amount here and trade. First suggestions: If SOFI could add a modification like modifying an order the amount or the price without cancelling it. It is a hassle to cancel and then redo the order. Maybe try a simple button or something that we can modify an order quicker without canceling? You know what I mean? 😁 I always have issues when I am trying to change and especially when the price went low and wanted to buy the stocks low or even trying to sell it as well. I ended up missing the opportunity on buying it when it is really low and then selling it when it is really high because you have to cancel the entire orders instead of just pressing something to modify it. Second suggestions: If Sofi make a way that we can name our watchlist by category etc… between the 2 suggestions I prefer the first one that I can modify my orders without canceling the entire orders. Other than that SOFI is a great platform and I like it.

Developer Response ,

Thanks for the review. This is very helpful. We’re sorry that you’re running into this issue. Please email and our team would be happy to help. Include your usertag and “App Review” in the subject line. Thanks for being a SoFi member!

emeza1 ,

Easy navigation . Literally all my $ finances in one place.

I downloaded SoFi initially to check refinance rates for my car. Stayed for the awesome interface and services. I love that im able to track all my finances in one place. The value of my home, the balance on my robinhood, fidelity, and Bank of America accounts. My credit score. My credit card debts. All my reoccurring auto payments . It’s all here in one place on one screen. It’s incredible to see all your net worth all in one place. I received free money for opening an investment account with SoFi , so opened one as well, why not? Brokerage interface is easy to use as well. Unlike robinhood , it has a very “social media” vibe. You can add friends just like on Facebook and follow what trades they make and what positions they hold in their portfolios. There’s updated news/articles/ educational material regarding anything you’re interested in. This doesn’t feel like a banking app, it’s truly addictive like a social media app. I haven’t opened a checking or savings account with SoFi yet. It says they’re offering 1.25% apy for these accounts if you direct deposit. I don’t think I’ve ever seen any bank with that rate. I need to look more into it if there’s fine print , but it’s definitely where I’d rather park ny savings money instead of collecting dust at Bank of America . Overall a fun app. Can’t wait to see what other features get added on.

Chevvve ,

Absolute worst customer service!!!!

The one star I suppose is for the terrific interface which is simple, fun, and beautiful.
What’s lurking behind it is just plain old terrible customer service. 1-hour plus wait times to talk to the first person who can’t help you. They are the gatekeeper to the mysterious “advisor” who is the only one who can actually fix your account or make any decisions. He or she is another two hours away, but if you hit their closing time the hold music will go dead but your phone will keep running. That’s the hint that you could be on the line till next Tuesday and nobody will touch your account until they’ve gone home, slept and had a nutritious dinner and complete breakfast, walk the dog and washed the car before they will mosey on in and make you wait another three hours before the attend your life and death financial matters. I am not kidding when I say they told me I would have to WAIT 7 BUSINESS DAYS FOR AN “ADVISOR” TO CALL ME BACK!!!!
I kid you not. I swear. With no sense of irony at all they told me to fix my account to where my direct deposit would not get reject I would have to wait SEVEN (7) BUSINESS days , not just like linear days of the week to include the 48 hours of weekends, but 7 only counting M-F and excluding holidays, to fix my account to accept the money that I slave over during the week S-Sat.
Don’t be fooled by the pretty app and overspending on advertising. It’s a sham.

Developer Response ,

Thank you for your feedback. We regret to hear that your recent communication with us was not ideal and we can understand how that can cause frustration. Due to higher than normal requests, our callback time frame for an investment advisor is currently seven business days as these concerns are worked in the order they are received. We are diligently working to reduce the wait times so we can continue to serve our members as quickly as possible. If you have not done so, we encourage you to connect with our investment team at 855-525-7634 to ensure you have scheduled a callback for your concerns. You are welcomed to send us a detailed email at for potentially faster assistance.

App Privacy

The developer, Social Finance, Inc, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.

Data Linked to You

The following data may be collected and linked to your identity:

  • Purchases
  • Financial Info
  • Contact Info
  • User Content
  • Identifiers
  • Usage Data

Data Not Linked to You

The following data may be collected but it is not linked to your identity:

  • Location
  • Contacts
  • Usage Data
  • Diagnostics

Privacy practices may vary, for example, based on the features you use or your age. Learn More


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