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Looking for the best high yield savings account? Discover why the SoFi Bank high yield savings account stands out from the rest with its impressive features and benefits.

Table of Contents

• Introduction
• Overview of SoFi Bank
• Key Features
• Competitive Interest Rates
• Additional Benefits
• Easy Application Process
• Conclusion

Introduction

When it comes to finding the best high yield savings account, SoFi Bank offers a compelling choice. Known for its customer-centric approach and competitive rates, SoFi Bank’s high yield savings account could be the perfect solution for your savings goals. I know, as travelers, we often need lots of funds, so stop letting your bank pay you pennies, or worse, charging YOU while they use your money to make money for themselves! With SoFi there are no fees, no account minimums, and high interest pay outs each month. Read on to not only save money, but also make money, how I do, by switching to SoFi.

Overview of SoFi Bank

SoFi Bank is part of SoFi, a leading financial technology company that focuses on providing innovative solutions for personal finance. The bank offers a range of products, including high yield savings accounts designed to help customers grow their money efficiently.

Key Features

Here are some standout features of the SoFi Bank high yield savings account:

Features	Details
Interest Rate	Up to 4.60% APY*
Minimum Deposit	No minimum balance required
Additional Features	Member benefits, including financial planning tools and career coaching

Potential Drawbacks

There are only a few drawbacks that you may find about switching to SoFi even though the benefits far outweigh them, I’d be wrong not to tell you:

• Learning a new app or system layout can take time – While it is fairly intuitive, there is always a learning curve when we start something new.
• Zelle is just becoming available to SoFi users – If you are familiar with sending money in seconds to other Zelle users, you should know it can take a little longer to move money until the rollout of the program is complete*
• There are no physical SoFi banks – They use a network of ATMs that you can use fee-free but if you are used to doing all of your transactions in person at the bank, this would not be the right option for you.

*Insider tip: I am told by SoFi customer service that having direct deposit set up puts you at the top of the list for the rollout process, in addition to qualifying you for the best interest rates.

High Interest Rates

SoFi Bank offers competitive interest rates that help your savings grow faster compared to traditional banks. The high yield savings account provides a competitive APY, ensuring your money works harder for you without any extra effort beyond opening and funding the new account.

Additional Benefits

In addition to high interest rates, SoFi Bank offers:

• Zero fees – No monthly fees or overdraft charges (I personally found that by switching to SoFi I made the amount in interest on my money that my old bank used to charge ME each month just for having an account with them)
• Mobile app – Manage your savings anytime, anywhere (super easy to use with lots of features)
• Member perks – Access to exclusive events and discounts (and a rewards program that allows you to earn points and redeem them for even more money)

Apply In Under 5 Minutes

Applying for a SoFi Bank high yield savings account is straightforward and fast:

1. Visit SoFi Bank’s website or use their mobile app.
2. Complete the online application form (it literally takes under 5 minutes).
3. Fund your account electronically.

You can have a new bank account, start earning respectable interest rates on your hard earned cash, and even get paid, for switching banks in under 5 minutes. I share my experience with this service because I was fed up with bank fees when my account balance got low (in my opinion, the worst possible time to charge someone more money)! When I found out that I could also be making more than 10 cents each year to keep my emergency savings in an account, I was ready to go. And when I saw for myself how much more I made by switching, I had to share it. The average person shouldn’t be paying big banks money, to use our money.

Switch to SoFi & Get a BONUS!

Sofi will GIVE YOU $25 worth of points just for using my link to open your new account. Get $25 to open a SoFi Checking & Savings Account! Don’t forget to move $50 to your account within 2 weeks of opening, to get reward points redeemable for $25 cash (I did it, so I can confirm this is legitimate)! Personally, I moved all of my funds to Sofi so that ALL of my hard earned money is working for me while I sleep and making way more in interest than in years in a savings account at my old bank.

NOTE: SoFi is currently only available in the US, so you should complete your application online while in the US (I originally tried setting mine up while traveling internationally and it wasn’t working). You might get it to work with a VoIP but I personally just waited until I was back in the United States, so I cannot personally confirm if a VPN will work.

Conclusion

If you’re looking to maximize your savings with a high yield savings account, SoFi Bank offers a compelling choice. With competitive interest rates, no fees, and additional member benefits, SoFi Bank’s high yield savings account stands out as one of the best high yield savings accounts available today.

Start growing your savings with SoFi Bank and experience the benefits firsthand! Trust me when I tell you: the savings add up, which means MORE TRAVEL MONEY FOR US!