Wealthy PotSoFi Review (2026)
SoFi turns a HYSA into a full money app (savings, checking and investing together) with a competitive rate if you route a direct deposit. It is the pick for consolidating your finances.
By Wealthy Pot · Last updated September 2026
Pros
- Competitive APY with qualifying direct deposit
- Savings, checking, and investing in one app
- No account fees
- Early direct deposit
Cons
- The top rate needs a qualifying direct deposit
- No physical branches
- A neobank (banking via partner banks)
Who SoFi is for
Best for people who want their high-yield savings bundled with everyday banking and investing, and who can set up a qualifying direct deposit to unlock the top rate.
APY, minimums & fees
SoFi advertises 3.10% APY with qualifying direct deposit (0.80% base without), with a $0 minimum to open and a $0 monthly fee. Minimum balance to earn the top rate: $0. FDIC-insured via SoFi Bank + partner-bank sweep. APYs are variable. Confirm the current rate on the official site.
The bottom line
SoFi turns a HYSA into a full money app (savings, checking and investing together) with a competitive rate if you route a direct deposit. It is the pick for consolidating your finances. Main drawback: the top rate requires setting up a qualifying direct deposit.
Compare SoFi with…
See how SoFi stacks up in our high-yield savings comparison, or find a banking app in our neobanks comparison.
We summarize hands-on assessment, not user reviews. APYs are variable and re-checked against SoFi's official page. Some accounts are brokerage cash insured through partner banks rather than traditional bank savings. Some outbound links may be affiliate links. That never affects which accounts we include or how we rate them. Nothing here is financial advice.