Want to earn extra money on your savings? Two online banks, SoFi and American Express, offer really high interest rates! Think of it like your money growing faster. But there are some differences.
- SoFi offers a higher interest rate (up to 3.80%) but needs you to open a checking account too and meet some conditions.
- American Express offers a slightly lower rate (3.70%) but is simpler to use; no extra steps needed.
- Both banks don't charge extra fees!
| Bank | Interest Rate | Requirements |
|---|---|---|
| SoFi | Up to 3.80% (otherwise 1%) | Checking account, direct deposit or $5000 deposit |
| Amex | 3.70% | None |
Choose SoFi if you want a bonus and don't mind extra steps. Choose Amex if you want it simple!
