Sofi bank is a bank that is designed for the modern consumer who values convenience, security, and innovation. Sofi is a digital-only bank that provides a range of financial products and services, from checking and savings accounts to loans and investments. Here are 10 reasons why you should choose Sofi bank for your banking needs.
1. No Fees
The Sofi does not charge any monthly fees, overdraft fees, or ATM fees. You can use any ATM in the world for free, and if you are charged a fee by the ATM owner, Sofi will reimburse you.
2. High Interest Rates.
Sofi bank pays you interest on your money, whether it is in your checking or savings account. You can earn up to 0.50% APY on your checking balance and up to 4.50% APY on your savings balance, depending on your account activity and balance. Note that percentage is listed as of todays date 8/3/2023. You can get 25$ when you will open checking or savings account at Sofi.
3. Cash Back Rewards.
The Sofi Bank gives you cash back when you use your debit card for eligible purchases. You can choose from different categories, such as groceries, dining, travel, and entertainment, and earn up to 2% cash back on your spending.
4. Free Credit Score Monitoring
Credit score is one of the most important factors that lenders use to evaluate your creditworthiness and offer you loans, mortgages, credit cards and other financial products. A good credit score can help you qualify for lower interest rates, save money and achieve your financial goals faster. But how do you know what your credit score is and how to improve it? You can read more about credit monitoring tools here.
That’s where Sofi Relay comes in. Relay is a credit score monitoring tool that lets you access your credit score for free, anytime and anywhere. You can also get personalized tips and insights on how to improve your credit score, based on your financial situation and goals.
With Sofi Relay, you can:
- Check your credit score for free, without affecting it
- See how your credit score changes over time and what factors influence it
- Get personalized recommendations on how to improve your credit score, such as paying off debt, increasing credit limit, disputing errors and more
- Set up alerts and notifications to stay on top of your credit score and any changes
- Compare your credit score with others in your age group, income level and location
- Access exclusive offers and discounts from Sofi and its partners
5. Easy Loan Access.
Sofi bank offers various types of loans, such as personal loans, student loans, home loans, and auto loans. You can apply online in minutes and get pre-qualified rates without impacting your credit. You can also enjoy low interest rates, flexible terms, and no origination fees or prepayment penalties. If you would like to get 300$ bonus for getting a new personal loan from Sofi you can click on this link. Not available to residents of Vermont. This is a referral link and you must keep your personal loan active and in good standing for at least 90 days to receive the bonus.
6. Smart investing options.
Sofi bank helps you invest your money in different ways, such as stocks, ETFs, crypto, and robo-advisors. You can trade stocks and ETFs for free, buy and sell crypto with no fees, and get automated investing advice with low minimums and no management fees.
7. Financial education and guidance.
Sofi bank provides you with access to financial experts who can answer your questions and give you advice on various topics, such as budgeting, saving, investing, debt management, and retirement planning. You can also join online workshops, webinars, podcasts, and articles to learn more about money matters.
8. Member benefits and perks.
Sofi bank rewards you for being a loyal customer with exclusive benefits and perks. You can get discounts on other Sofi products and services, such as loans and insurance. You can also enjoy free access to airport lounges, career coaching, estate planning, and more.
9. Security and protection.
Sofi bank protects your money and information with advanced security features and encryption. Your deposits are FDIC insured up to $1.5 million per account type. You also get fraud alerts, identity theft protection, card lock/unlock, and 24/7 customer support.
10. Innovation and convenience.
Sofi bank makes banking easy and convenient with its mobile app and website. You can manage your money anytime, anywhere, with features such as mobile check deposit, bill pay, money transfer, budgeting tools, spending insights, and more.
These are just some of the reasons why you should choose Sofi Bank for your banking needs. If you want to learn more about Sofi Bank or open an account today, visit their website or download their app.
