SoFi vs Marcus by Goldman Sachs: Which Savings Account Should You Choose in 2026?
Updated August 24, 2026 · every figure carries the source it was read from and the date it was read
BanksYouPick compared SoFi and Marcus across every metric: APY, fees, minimum deposit, sign-up bonus, compound frequency, withdrawal limits, FDIC coverage, and mobile app quality. Here is the BanksYouPick head-to-head comparison as of August 24, 2026.
| Feature | SoFi | Marcus |
|---|---|---|
| APY | 3.80% | 3.40% |
| Monthly Fee | $0 | $0 |
| Minimum to open | $0 | $0 |
| Minimum to earn the rate shown | None | None |
| Conditions on the rate | Requires qualifying direct deposit. Without it the rate drops sharply — check which tier applies before opening. | None stated |
| Compound | daily | daily |
| Withdrawals | Unlimited (no Regulation D cap) | No stated transfer cap |
| Sign-Up Bonus | Sign-up bonus with qualifying direct deposit — amount varies, confirm on SoFi’s own page | None |
| FDIC Cert | #26881 | #33124 |
| FDIC Coverage | Up to $3M (SIDP) | $250,000 |
| BanksYouPick Score | 9/10 | 8.9/10 |
Which bank pays a higher APY: SoFi or Marcus?
As of August 24, 2026, SoFi is listed at 3.80% APY and Marcus at 3.40% APY. On a $25,000 balance that gap is worth about $100.00 a year — $950 against $850, before tax and assuming the balance and both rates hold for the full year.
But read the condition before the number. SoFi's rate is conditional: Requires qualifying direct deposit. Without it the rate drops sharply — check which tier applies before opening. Without meeting that, the comparison inverts and Marcus pays more, because Marcus pays its rate with no qualifying conditions at all. The right question is not which number is bigger but which rate you will actually qualify for every month.
Does SoFi or Marcus offer a better sign-up bonus?
SoFi runs a direct-deposit sign-up bonus; Marcus does not. BanksYouPick does not publish the current bonus amount here, because these offers change frequently and the eligibility tiers change with them — read the figure and its conditions on SoFi’s own bonus page before counting on it.
One thing worth knowing: a bank sign-up bonus is taxable, but it is not always reported the same way as interest. Depending on how the bank characterises the payment it may appear on a different IRS form than your interest does. Check the tax language in the offer terms rather than assuming.
Which is safer: SoFi or Marcus?
Both are FDIC-insured, but with different coverage limits. Marcus by Goldman Sachs (FDIC cert #33124) provides standard coverage up to $250,000. SoFi (FDIC cert #26881) provides up to $3 million through its Sweep Insurance Deposit Program (SIDP), which distributes funds across multiple partner banks. For deposits exceeding $250,000, BanksYouPick analysis gives SoFi a meaningful safety advantage.
BanksYouPick verdict: SoFi vs Marcus
Both figures above are as listed within the 9 institutions BanksYouPick currently tracks, not across the whole U.S. market. BanksYouPick rates SoFi at 9/10 and Marcus at 8.9/10. SoFi wins for savers who want an all-in-one app with checking, savings, investing, and a sign-up bonus. Marcus wins for savers who want simple, no-conditions high-yield savings from Goldman Sachs. Both are excellent. See individual reviews: SoFi review · All savings rankings.