SoFi App Bonuses: $325 Money, $25 Invest, $100 Credit Card, $300 Personal Loan, $300 Student Loan Refi

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Updated April 2022. SoFi (“Social Finance”) is a financial “super app” that expanded from students loans into banking, stocks, crypto, credit cards, and more. They’ve been more aggressive recently on many of their promotions, with many worth a second look. Both referral and alternate options are included below. New users can receive a separate opening bonus for each separate part of SoFi (Money, Invest, Crypto, etc).

  • SoFi Money Referral Offer: $25 new user bonus + $300 direct deposit bonus. Banking features. Open a new SoFi Money account and add at least $10 to your account within 5 days, and get $25. Up to $300 additional bonus with qualifying direct deposit. Details here.
  • SoFi Money: 1.25% APY on up to $150,000 with direct deposit. SoFi got their own bank charter. Coming soon: “SoFi Banking members with direct deposit can earn up to 1.00% annual percentage yield (APY) interest on the first $50,000 of their balances for their checking and savings accounts, plus the cumulative total of all Vault balances, for up to $150,000 total deposits.”
  • SoFi Invest Referral Offer: $25 new user bonus. Brokerage account. Open an Active Investing account with $100 or more, and you’ll get $25 in stock.
  • SoFi Invest Alternate Offer: Claw Game. Feeling lucky? Compare the $25 guaranteed above with a ~95% chance of a smaller $5 or $10 bonus, but a 0.028% chance of a $1,000 bonus.
  • SoFi Invest Asset Transfer Offer: Up to $5,000 Bonus. Transfer over your existing assets from another broker and SoFi will pay you a bonus. From $50 bonus for transferring $5,000 in assets all the way up to $5,000 bonus for $2 million in assets.
  • SoFi Credit Card Referral Offer: $50 bonus. Standard feature is 2% cash back with no annual fee.
  • SoFi Credit Card Alternate Offer: $100 bonus after first purchase. Scroll down to the bottom, expires 4/30/22.
  • SoFi Crypto: $10 to $100 new user bonus. Get $10 bonus for a $50 trade, $100 bonus for $5,000 trade.
  • SoFi Student Loan Refi: $300 bonus. Warning: Do your research before refinancing your Federal student loans to a private lender.
  • SoFi Personal Loans Referral Offer: Fixed $300 bonus. Fixed $300 bonus, 90 days after successful funding. The loan has no fees and you can pay it back in full after 90 days.

Another all-in-one financial app with a lot of simultaneous promos right now is M1 Finance.

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Comments

  1. I used your referrals.

  2. The fine print says:

    ” Only one referral reward and one welcome bonus per new customer: you will not receive multiple referral bonuses for the same friend taking out multiple loans or products, nor will your friend receive multiple welcome bonuses for taking out multiple loans or products.”

    Sounds like that may not be correct if you received both Jonathan? I guess best to do the Cash account first just in case since that’s the larger bonus

    • You may be correct, I read that as you won’t 5 bonuses if the same friend opens say 5 SoFi Money accounts (and neither will the friend). I read it as if they opened one of each it would be okay, but it is possible that they interpret it differently.

  3. I’ve used Sofi account for about 6 months so far and a fan so far. I found it gave me the best exchange rates (slightly) at overseas ATMs in my limited experimenting. It is now my goto for access cash while traveling.

  4. That’s an impressive deal. I’ve looked through the SoFi web site. What’s the catch?

    • No catch, the customer acquisition cost for a banking or brokerage product is often in the $100 to $300 range. SoFi is choosing to give it to people directly, as opposed to TV ads or a billboard. There are competitors with similar high interest rates and free trades now, so they have to try harder to get you to try them instead of someone else.

  5. Do we need to provide SSN to open accounts?

  6. Happy to use your referrals. Thanks for all the great advice over the years! 🙂

  7. Hi Jonathan,
    I used your link and appropriated the info. Have been following your website side for a while and keep the good work!
    Thanks

  8. Thanks! used both of your referral links.

  9. Seems like I only got 1 bonus for opening both accounts. Funny I opened the Invest account first, but they are giving the bonus for the Money account.

  10. Lucas Baile says

    I have a question. Is this investment for Banks or Stock Market?

  11. Jonathan, I used your link and opened a Money account. I have not funded it yet. When I go to Membership dashboard and click Refer a friend, I only see my personal referral link for SoFi personal load or student loan. What am I doing wrong?

  12. is this a soft or hard pull?

  13. Has anyone received their bonus money? My deposit has come through and shows in my “money” but my bonus amounts show up as transactions, but aren’t present in my “money”.

  14. SoFi Invest bonus ended yesterday (Oct 31)

  15. Has anyone tried the SoFi Money account today? Do the bonus and referrals still work?

    • As of 11/1, the SoFi Invest link works but still shows the 10/31 expiration date.

      The SoFi Money $50 bonus for $100 deposit is still live and working. There is no expiration date given.

      • Thanks! I used your referral link. It says my $100 funding transfer will be available on 11/7. No message or email mentioning the $50 bonus coming. Hopefully I’ll see it this week.

        Is this a pull ACH transfer when they use your logon credentials to transfer the money from the funding bank? There would be no fee for that. I’m wondering if I’ll get a transfer fee from the funding bank for this method.

  16. Thanks. Used your referral link and got my welcome bonus and the bonus for referring the wife already.

    Note for others that the app and website can be a bit wonky on older phones. I couldn’t download the app on my old phone (Samsung S5) and when I used the web browser, I could log in, but it kept throwing up error messages when trying to navigate through the site. My workaround was to just download and log in using the app on my wife’s phone. No problem using website on my laptop, but as others mentioned, you do need to use the app to send the referral.

  17. Used your links! Been a long time reader (2007 i think?). Enjoy the $150!

  18. Looks like they reduced the SoFi Money referral bonus down from $100 to $50.

  19. My deposit finally showed up in My “Money” today but still no sign of the referral bonus. Does that usually come later? I used your referral link on 11/1.

    • Great experience with Sofi support. I didn’t receive my referral bonus so I contacted support through email. They responded quickly and let me know the information that they needed to submit the referral manually. I provided that information and the bonus was deposited on the next business day. Now that is service!

  20. Have you received your investment bonus? It said that it would be deposited within 10 days. I still don’t see mine. Thanks!

    • Sorry to hear that. It’s kind of hard to tell for me because they don’t tell me what the referral bonus is from, someone else, or from me opening the account. And if someone else I don’t know for who it is. I haven’t gotten my free stock either though, I just thought they might have just given me the cash instead. I would contact SoFi and ask for help if needed. If you need something from me, please email at jonathan at this domain or use my contact form.

  21. Signed up using your link, for both the Money and the Invest accounts on Oct 29. The Money bonus showed up right away, but I never got the Invest bonus (should show up within 10 days). I contacted them via chat today, and they said they needed verification from you to add the bonus (i.e. they asked that I have you contact them to verify my referral). Just a heads up for others that may be missing the Invest bonus. Same thing happened when I subsequently referred my wife, so I’m guessing you’re missing the bonus from my sign up also.

    • Sorry to hear that. I don’t see any of your personal details (name, email, etc) when you use the referral link, so if you something on my end like that, please send me your first/last name and the e-mail address you used with SoFi and what you would like me to do to my email at jonathan at this domain or use my contact form. Please don’t leave personal details in a comment. Thanks!

  22. Naomi WIllard says

    Thank you! I just chatted an agent at So Fi and they said the investment bonus would be credited in 7-10 business days. Hoping you get the bonus. Thank you again for all your help through the years. Hope you and your family have a Happy Thanksgiving!

  23. The SoFi invest bonus does pay out, but it seems much slower
    As of now, the SoFi money bonus seems to be down to $25

  24. Based on my personal experience with SoFi, don’t trust them to pay the bonus they advertise. I signed up and was really liking the interface and what they had to offer, until they wouldn’t pay the bonus I signed up under. I can’t give them my money if I can’t trust them. My recommendation is that you explore some of the other options out there–there are a lot of other online banking and investing options available now. SoFi was not a good experience.
    ***Have come across numerous other people who haven’t gotten the bonus either–beware!!!

  25. Charlotte L Edwards says

    Is this just updated content? I got an email about it yesterday, but the comments seem to be quite old. Also, can you refer your children? Happy to use your referral link. Thanks!

  26. Here is my referral link. It definitely works!

    https://www.sofi.com/share/invest/2857597

  27. PK Baruah says

    how could i direct deposit if i don’t have a job? is there any other way to meet that criteria? Regards PK

  28. Jonathan, the money links have expired. Any chance you can share a refreshed link?

  29. Do you know their definition of what a direct deposit is? I am currently not working so have no income coming in but can set up a monthly direct deposit from another bank. Would that count?

  30. Just opened account using your referral. Routing # shows THE BANCORP BANK.

    Is it right?

  31. Link doesn’t show $100 bonus

    SoFi Credit Card Alternate Offer: $100 bonus after first purchase.

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