SoFi vs Marcus by Goldman Sachs
Last updated July 2026
SoFi
Banking, investing, loans, and credit in one app
Advantages
- Up to 4.20% APY on savings with qualifying direct deposit
- Checking pays 0.50% APY (rare for a checking account)
- Get paid up to 2 days early via direct deposit
- Bundles brokerage, IRA, credit card, and personal loans in one app
- No monthly fees, no minimum balance, ATM access via Allpoint
Drawbacks
- Top APY requires direct deposit, rate falls to 0.50% without
- No cash deposit network without a partner retailer
- Feature breadth can overwhelm buyers who just want savings
Marcus by Goldman Sachs
Simple high-yield savings from Goldman Sachs
Advantages
- 4.05% APY on Online Savings with no direct deposit requirement
- No monthly fees, no minimum balance
- Backed by Goldman Sachs, strong brand and financial stability
- Simple, clean app focused on savings and CDs
- No-penalty CD product for buyers who want flexibility
Drawbacks
- No checking account; must pair with another bank for daily spending
- No ATM access, savings-only
- No investing, lending, or credit products in the same app
SoFi and Marcus by Goldman Sachs both pay well above traditional bank savings rates and charge no monthly fees. SoFi bundles banking with investing, credit cards, and loans in a single super-app, and its top APY requires a direct deposit. Marcus is a pure savings and CD product with Goldman Sachs's balance-sheet backing and no strings attached to the APY. Whether you want a full financial home or a walled-off yield account decides it.
Feature Comparison
| Feature | SoFi | Marcus by Goldman Sachs |
|---|---|---|
| Savings APY | 4.20% APY with direct deposit; 0.50% without | 4.05% APY (as of July 2026) |
| Checking Included | Yes, SoFi Checking (0.50% APY) | No, savings and CDs only |
| Minimum Balance | None | None |
| Monthly Fees | None | None |
| CD Rates | None currently | 4.15% - 4.35% APY; no-penalty CD available |
| ATM Access | 55,000+ Allpoint fee-free | None; requires transfer to linked account |
| Mobile App | Strong; bundles banking, investing, credit, loans | Clean, savings-focused |
| Customer Support | Chat and phone, U.S.-based | Phone and chat, U.S.-based |
SoFi Wins
SoFi wins if you'll direct-deposit and want banking, investing, and loans in one app. Marcus wins if you want a pure high-yield savings account with no APY strings attached.
For a buyer who moves their paycheck to SoFi, the 4.20% APY plus 0.50% checking APY plus the super-app bundling delivers more value than Marcus. Without direct deposit, SoFi's rate collapses to 0.50% and Marcus's 4.05% wins easily. Marcus also earns its keep when you specifically want savings walled off from your daily spending, which the missing checking product enforces. Neither has physical branches.
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