SoFi Checking and Savings
A digital-first bank offering a combined checking and savings product with one of the highest APYs in the market for direct-deposit customers.
APY
4.00%
with direct deposit
Editor rating
4.7 / 5
Insurance
FDIC
Cert #59458
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Editor's Verdict
SoFi remains one of our highest-rated picks for everyday savers in April 2026. The headline APY is gated behind a recurring direct deposit requirement, but for anyone who can route their paycheck through SoFi, it is one of the best risk-adjusted yields available from a fully insured U.S. institution. The bundled checking-and-savings product means you get a high APY without needing to maintain a separate account elsewhere.
By HYSA Compare Editorial Team · APY verified on 2026-04-06T22:53:50.576Z
Pros
- + No fees of any kind
- + No minimum balance to earn APY
- + FDIC insurance up to $2M via partner network
- + Same-day direct deposit (up to 2 days early)
Cons
- − Top APY requires qualifying direct deposit
- − No physical branches
Account details
- Institution type
- NEOBANK
- Minimum opening deposit
- $0
- Min. balance to earn APY
- $0
- Monthly fee
- $0.00
- Compounding
- daily
- ATM access
- Yes
- Check writing
- No
- Mobile app
- Yes