SoFi Review: APYs, Fees & Who It's Best For in 2026

SoFi got its national bank charter in 2022 and has used it to push aggressive APYs and a deeply integrated app that covers checking, savings, investing, loans, and credit cards. In 2026 it's still the closest thing the U.S. has to a true financial super-app.

2026 snapshot

• Our rating: 4.6 / 5
• Best for: All-in-one checking, savings, and investing in a single app
• FDIC insured: Yes, up to $2M via SoFi's deposit sweep program

Products and features

Checking & Savings

Up to 3.80% APY on savings (or 4.20%+ with direct deposit and specific qualifications), 0.50% on checking. No account fees or minimums.

SoFi Invest

Commission-free stocks/ETFs, fractional shares, IPO access, and a robo-advisor option.

SoFi Credit Card

2% cash back when redeemed into a SoFi account.

Personal Loans, Student Loan Refi, Mortgages

Full lending suite, all inside the same app.

What we like

• One of the highest savings APYs from a U.S.-chartered bank
• Genuinely useful integration across banking, investing, and lending
• FDIC insurance up to $2M via deposit sweep program

Where it falls short

• Top APY tier requires direct deposit qualifications
• No physical branches

Bottom line

SoFi is the best modern primary bank for anyone willing to commit direct deposit — it punches above its weight in almost every category.

Rates and product terms shown reflect publicly available information at the time of our 2026 review and can change at any time. Always confirm current APYs and fees directly with the bank before opening an account.