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Sofi Plus 4.5% Interest on 20k $900

$900.00
$20,000.00
-1 Deal Score
662 Views
If you currently have Sofi check & savings account, you can upgrade to plus by having $10 deducted from your savings account every month. So you lose $120 a year, but you make 4.5% on the first 20k, which comes out to $900-$120 annual fee = $780 in interest.

The remaining money in your account earns 3.5% interest. So, on the surface it sounds like a money grab, but if you do the math the interest pay out you get is pretty awesome. There's no current offer from other banks giving you 4.5% on 20k.

Other perks include: financial planning, 10% cash back boost on your Sofi credit card, and 1% match on your investments.

https://www.sofi.com/sofi-plus/?a...rce=impact
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Created Today at 02:01 PM by Papi-Chino
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Deal
Score
-1
662 Views
$900.00
$20,000.00
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Joined Nov 2011
Timespent: 7m 2w 7d 1h
> bubble2 905 Posts
227 Reputation
sdahl1
Today at 02:22 PM.
Today at 02:22 PM.
The difference in 1% interest (4.5 vs 3.5%) only amounts to be $200 on $20K cap, which on top is taxable. So $120 annual fee would be a wash, wouldn't it?
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Joined May 2015
L5: Journeyman
> bubble2 658 Posts
1,388 Reputation
addictedsaver
Today at 06:06 PM.
Today at 06:06 PM.
So it's just 3.9%??
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