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SoFi Wants to Give Users Elevated Interest Rates After It Becomes a Bank: CEO

Fintech SoFi is aiming to boost interest rates offered to customers should it be granted a permanent national banking charter, says Anthony Noto, the company’s CEO. So reports CNBC.

SofiThe company already offers an interest-earning account, but the company does not control the rate at this time. Becoming a bank would allow them to set the rate beyond the 2.25% currently offered. To bolster its banking ambitions, SoFi is planning an acquisition of community bank Golden Pacific Bancorp for $22.3 million, it adds.

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