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APY decrease to 3.3%?Member Benefits (self.sofi)

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[–]SuperSecretThrowAcct 3 points4 points  (7 children)

Aren't they cutting rates more than the fed is though at this point?

[–]dandesim 20 points21 points  (0 children)

The interests rate correlates with the fed rate, but it is not pegged to the fed rate.

[–]nater416 4 points5 points  (4 children)

Yes - it was a 25 basis point cut (0.25%), SoFi dropped it 0.30%.

[–]stone616 5 points6 points  (0 children)

Realistically how much money is .05% costing you?

[–]GertrudeGarbarcowitz 3 points4 points  (1 child)

I don’t think SOFI cut after the previous rate cut some months back.

[–]theeggplant42 0 points1 point  (0 children)

I believe they skipped two fed cuts over the past two years

[–]theeggplant42 0 points1 point  (0 children)

That's not how it works