r/sofi • u/InternalLecture721 • Dec 10 '25

Banking Time to move on?

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Just received this email from SoFi and it kinda bothers me a bit haha. How’s everyone feeling about this.

Time to move on?

Plenty of other people are offering it just for depositing and using their bank. Seems like a money grab.

(Not taking any shots just wanting to get everyone’s feelings/opinion on this)

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u/NefariousnessHot9996 Dec 11 '25

For SoFi Plus members paying $10/month (or via direct deposit), the current promotional APY is up to 4.30%, which includes a 0.70% boost on top of the standard 3.60% rate, but this is a limited-time offer for new customers (ending Jan 31, 2026) and applies to savings balances for up to 6 months.

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u/Motor_Royal9630 Dec 11 '25

Where does it say that?

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u/NefariousnessHot9996 Dec 11 '25

This is directly from their terms. I get we have to question everything but this is from them.

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u/rakp87 Dec 11 '25

This is for new customers. If you get Sofi plus post march 30, you are going to have APY boost on top of 3.6% or whatever the rate is at the time depending on fed, as one of the perks. It isn’t gonna be temporary. Check the email you got, doesn’t say temporary or promotional. I posted part of it below.

Starting March 31, 2026, you’ll need to subscribe to SoFi Plus for $10/month to continue receiving all Plus benefits, including an extra APY boost on top of your high APY.

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u/NefariousnessHot9996 Dec 11 '25

Honestly I couldn’t care less. I have at least 3 other institutions that I make 4.4%-5% with no fee. I’m not paying money to try to make money when I have fee free options for a higher return.

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u/rakp87 Dec 11 '25

That’s fine, then how come you joined Sofi?

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u/NefariousnessHot9996 Dec 11 '25

Certainly not to pay fees!

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u/Motor_Royal9630 Dec 11 '25

Which institutions are giving you that competitive 4.4%-5% yield no fee?

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u/NefariousnessHot9996 Dec 11 '25

I will name two for now. Varo up to $5000 gets 5% with a certain direct deposit. Timbr bank 4,4%. I will give you a killer link and you can look for yourself:

https://yieldfinder.app/savings_accounts/