Rate checked October 20, 2026 (2 weeks ago)
SoFi checking account interest rate: 0.50% APY
SoFi's checking account pays 0.50% APY. That ranks 7th of the 36 banks we track for this account. The best is 2.75% at TAB Bank.
- APY
- 0.50%
- Last change
- None yet
- Tracked since Aug 5, 2026
- Last checked
- 2 weeks ago
- Oct 20, 2026
We last read this rate on October 20, 2026. The bank may have changed it since, so check its own page before you open an account.
What it earns on $5,000
At 0.50%, $5,000 earns about $25 in a year.
The best rate earns about $138 on the same money. Choosing SoFi instead gives up about $113 a year.
The middle rate across 36 banks is 0.10%. Figures are one year of interest at today's rate, before taxes. Rates can change at any time.
Interest on checking is usually small. Monthly fees and overdraft fees often matter more than the rate, so read the bank's fee page too.
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SoFi checking account rate history
We have tracked this rate since August 5, 2026 and it has not changed.
| Date | APY | Change |
|---|---|---|
| August 5, 2026 | 0.50% | First tracked |
Banks that pay more
- TAB Bank2.75%
- Bank5 Connect2.00%
- Zynlo Bank2.00%
Other SoFi rates
- SoFi savings rate3.30%
Questions
What is SoFi's checking account rate?
SoFi pays 0.50% APY on its checking account, based on its own rate page when we last checked. That earns about $25 a year on $5,000.
Is SoFi's checking account rate good?
It is 7th of the 36 banks we track for this account. The best tracked rate is 2.75% at TAB Bank, and the middle rate is 0.10%. On $5,000, the best rate earns about $113 a year more.
Which banks pay more than SoFi?
TAB Bank (2.75%), Bank5 Connect (2.00%), Zynlo Bank (2.00%) pay more for this account. Rates change often, so check the bank's own page before you open one.
Should I pick a checking account for its interest rate?
Interest on checking is usually small. Monthly fees, overdraft fees and balance requirements often matter more, so read the bank's fee page before you decide.
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General information only. These rates are tracked from public pages, so confirm the rate, fees and requirements with the bank before you open an account. SwitchWize is not a bank and does not give financial advice.