SoFi members – we are thrilled to announce that we will be offering the opportunity to get FDIC insurance up to $2 million on all bank balances¹, through the new SoFi FDIC insured deposit network, increasing from the industry standard $250,000 per account, over the coming days. This increased coverage [...]
SoFi Checking and Savings is raising the savings APY (Annual Percentage Yield) to 4.00%¹ for all direct deposit members, up from 3.75%. Members with direct deposit will now earn 11x² the current national savings average on all of their savings and Vaults balances. For members without direct deposit, all balances [...]
SoFi is excited to share the news: members will now be eligible to earn money on shares they already own with SoFi’s share lending program. Any SoFi Invest member that holds shares in their account, regardless of the number of shares or the dollar value, will be eligible to earn [...]
We know there’s been a lot of conversation surrounding the news about Silicon Valley Bank and, naturally, you may have questions. It’s important for you to know that your money is safe with SoFi. We have a high quality growing deposit base. We have ample cushion to the regulatory required [...]
President Biden recently signed into law the Secure 2.0 Act as part of the Fiscal Year 2023 Omnibus Appropriations Bill. This piece of legislation builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019. Simply put, the SECURE Act and Secure 2.0 aim to help [...]
The SoFi Product Drop — our regular series where we dive into new features and updates from across our platform designed to improve your experience. SoFi is constantly working to make every product work harder for you and work better together. Check out what’s new for you from the last [...]
Pay in 4¹ is SoFi’s latest innovation designed to provide flexibility for our members when spending with SoFi Checking and Savings². With Pay in 4, SoFi members will now have another way to pay for larger travel or select purchases from local small businesses to major retailers, anywhere Mastercard is [...]
Funding for Cybersecurity San Diego-based cybersecurity firm Drata recently raised another $200 million in a Series C round, led by ICONIQ Growth and GGV Capital. This most recent funding round brings Drata’s total valuation to $2 billion. If you haven’t heard of Drata yet, it’s probably because the company just [...]
The Fill-Er-Up Forecast The average price per unleaded gallon of gas has now dropped to $3.329, down from an average of $3.343 per gallon this time last year, according to AAA. On top of that, GasBuddy, a company that tracks fuel prices, predicts that gas prices will continue to decline [...]
You’ve asked, and we’re answering: SoFi is launching options trading! Over the coming weeks, we’ll be rolling out the ability for SoFi Invest members to buy puts and calls (and sell to close the positions), making it simpler than ever to do all your trading in the same app where [...]
