SoFi promotions and bonus offers of September 2024

One of SoFi’s most popular bonuses comes from opening a SoFi Checking and Savings account and setting up direct deposit to earn up to $300, depending on your deposit amounts. But that’s not all it has to offer — there are also referral bonuses for nearly all its lending options.

All SoFi bonuses at a glance

Bonus type	Bonus amount	Requirements	Learn more
SoFi Checking and Savings account direct deposit bonus	$50 or $300	Open a SoFi account and direct deposit at least $1,000 within 25 days of opening your account to earn a $50 direct deposit bonus. Deposit at least $5,000 within 25 days of account opening to earn up to $300.	Go to site
SoFi Checking and Savings referral	$75 to the referrer and $25 to the referred (redeemed as points)	Share the referral link with the friend you want to refer to the Checking and Savings account. A successful referral can earn you $75 worth of SoFi rewards points and your referred friend $25 SoFi rewards points after the friend deposits at least $50 within 14 days of account opening.	Go to site
SoFi Invest® referral	$50 to the referrer and $25 to the referred	Send the referral link to a friend who must open the account within 120 days after they receive the link. Friend receives $25, and you receive $50.	Go to site
SoFi personal loan referral	$300	Send the referral link to a friend who must use the link to open the loan within 120 days of receiving the referral link. The loan must be open and in good standing 90 days after disbursement.	Go to site
SoFi student loan refinance referral	$1,000	Send the referral link to a friend who must use the link to open the loan within 120 days of receiving the referral link. The loan must be open and in good standing 90 days after loan disbursement.	Read Review
SoFi private student loan referral	$500	Send the referral link to a friend who must use the link to open the loan within 120 days of receiving the referral link. The loan must be open and in good standing 90 days after disbursement. The referral and recipient will receive the welcome bonus 60 days after the loan disbursement.	Read Review

• SoFi terms and conditions

  New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  Our account fee policy is subject to change at any time.
  SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
  See list of participating banks at SoFi.com/banking/fdic/receivingbanks
  We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time
  Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

SoFi’s best bonus offer

In our opinion, the best SoFi bonus offer is the SoFi Checking and Savings account direct deposit bonus. You can earn $50 or $300 simply by setting up direct deposit and meeting the amount requirements.

With the SoFi bank account open, you can also send referrals to friends and family to earn $75, and they can earn $25 — however, it’s not cold hard cash. The SoFi bank account referral bonuses are paid out in reward points, which you can use with a SoFi Active Invest account, SoFi Credit Card account, SoFi Travel purchases and other SoFi loans. You can only receive up to $10,000 in referral bonuses, but that limit would take a lot of work to reach.

Compare more bank account bonuses

SoFi offers a lot of bonuses, but they are mostly referral bonuses. If you already have a SoFi bank account, you could take advantage of its bank account referral bonuses, but the rewards you earn are rewards points to be used toward other SoFi products. If you’re a new SoFi customer, take advantage of its direct deposit bonus to earn $50 or $300 by meeting deposit requirements.

If you’re not sold on SoFi just yet, compare more bank account bonus offers.

Bank	Bonus offer	More info
PNC	Up to $1,000	Learn more
Fifth Third Bank	Up to $325	Learn more
Upgrade	Up to $200	Learn more
Chime	Up to $100	Learn more
Varo	Up to $25	Learn more

Frequently asked questions

Are there banks with immediate signup bonuses?

Most signup bank bonuses aren’t immediate. Generally, you’ll need to meet some type of requirement, often a direct deposit, balance or activity requirement. After you meet the requirements, you’ll likely receive the signup bonus within 30 to 90 days, depending on the bank.

Is SoFi a real bank?

Yes, SoFi is an FDIC-insured online bank. SoFi received its bank charter in early 2022.