SoFi Bank Promotions Overview
This page tracks SoFi Bank promotions and bonuses available to qualifying Utah consumers. Coverage may include checking and savings bonuses, business account promotions, credit card offers, promotional rates, referral programs, SoFi Plus benefits, and other member deals when available.
SoFi can change or end promotions, rates, and eligibility requirements, so verify the official terms before applying. For a broader look at its checking and savings accounts, credit cards, loans, mortgages, and digital banking services, see our SoFi Bank profile.
Some promotions may not be publicly advertised. Financial institutions may offer branch-only, relationship-based, preselected, or targeted promotions to certain customers. UtahFi includes offers that can be verified through public or otherwise reliable official sources, so additional promotions may be available to you directly through the institution.
Quick Summary
SoFi Bank promotions currently include a checking cash bonus, promotional savings rates, referral incentives, credit card introductory terms, loan and home-financing discounts, SoFi Plus benefits, and other member offers.
| Category | Current Offers |
|---|---|
| Checking Account Bonuses | Up to $400 Direct Deposit Bonus |
| Savings Account Bonuses | No separate cash bonus; savings APY offers are covered under Promotional Rates |
| Business Account Bonuses | No current public offer found; SoFi does not offer business deposit accounts |
| Credit Card Bonuses | No current public consumer welcome bonus; SoFi does not offer business credit cards |
| Promotional Rates | Available offers include a savings APY boost, credit card introductory APR offer, loan-rate discounts, and home-financing fee discounts |
| Referral Programs | Available programs include bank, loan, Credit Score Monitoring, and crypto referral bonuses |
| Member Deals and Discounts | Available offers include SoFi Plus rewards, travel savings, partner discounts, and homebuying offers |
Update frequency: UtahFi reviews and updates this page monthly to keep SoFi Bank promotions, bonuses, rates, and member offers current. SoFi may change, add, or discontinue offers between UtahFi updates, so availability and terms can change before the next monthly review.
Checking Account Bonuses
SoFi Bank promotions currently include a direct deposit bonus of up to $400 for qualifying new and existing members in Utah who have never previously established direct deposit with SoFi.
SoFi Checking and Savings — Up to $400 Bonus
| Detail | Offer |
|---|---|
| Bonus | $50 or $400, depending on the total Eligible Direct Deposits received during the qualification period |
| Who qualifies | Qualifying new or existing SoFi members in Utah who have never previously established direct deposit with SoFi |
| How to earn it |
|
| Payment and cost | The bonus is deposited into the SoFi Checking account within 7 business days after completing the requirements. The account has no monthly service fee, so the potential bonus after monthly fees is $50 or $400; other transaction charges may apply. |
| Fine print | Eligible Direct Deposits generally include recurring payroll, pension, or government benefit payments sent through ACH by an employer, payroll provider, benefits provider, or government agency. Check deposits, peer-to-peer transfers, merchant payments, bank-to-bank ACH transfers, external wire transfers, and IRS tax refunds do not qualify. The offer is limited to one bonus per member. For joint accounts, only the primary account holder’s activity counts. The Checking account must remain open and in good standing when the bonus is paid, and the bonus may be reportable as taxable income. |
| Expiration date | December 31, 2027, at 11:59 p.m. ET; SoFi may modify or end the promotion without notice. |
More official info: SoFi Checking and Savings Direct Deposit BonusThe limited-time savings APY boost is separate from this cash bonus and is covered under Promotional Rates.
Savings Account Bonuses
SoFi does not currently advertise a separate cash signup bonus specifically for opening a SoFi Savings account.
The limited-time savings APY boost is a promotional rate rather than a cash bonus, so it is covered under Promotional Rates. The separate direct deposit cash bonus of up to $400 applies to SoFi Checking and Savings and is covered under Checking Account Bonuses.
Business Account Bonuses
No current public SoFi business banking bonus was found.
SoFi Bank promotions does not currently offer standard business checking or savings accounts through its consumer banking platform. SoFi offers small-business loans and specialized commercial banking services, but neither offering includes a publicly advertised business deposit-account bonus for general Utah businesses.
More official info: SoFi Checking and Savings Account Eligibility
Credit Card Bonuses
No current public welcome bonus was found for SoFi’s consumer credit cards.
SoFi’s consumer credit cards offer ongoing cash back or rewards, but those are standard card features rather than signup bonuses. SoFi does not currently offer its own publicly available business credit card. Its business credit card page is a marketplace that compares cards issued by third-party providers.
More official info: SoFi Consumer Credit Cards | SoFi Business Credit Card Marketplace
Promotional Rates
SoFi’s available promotional rates include a savings APY boost, a SoFi Plus savings rate, selected credit-card introductory terms, loan-rate discounts, and home-financing fee reductions for qualifying Utah consumers.
Deposit Promotions
SoFi Savings — 1.10% APY Boost
| Detail | Offer |
|---|---|
| Promotional rate | 1.10 percentage points added to the qualifying Savings APY, currently producing up to 4.40% APY |
| Eligibility | New members opening their first SoFi Checking and Savings account during the promotion |
| Requirements | Receive an Eligible Direct Deposit or at least $5,000 in Qualifying Deposits within 60 days after opening, then meet either requirement every 31 days. |
| Promotion length | Up to six months from first earning the boost. Members who miss a 31-day requirement can restore the boost during the remaining promotional period. |
| Fine print | Limited to one boost on one Savings account per member. It cannot be combined with another APY promotion or applied to balances earning the 4.70% SoFi Plus APY. Rates are variable. |
| Expiration date | December 31, 2027, at 11:59 p.m. ET |
More official info: SoFi Checking and Savings APY Boost
SoFi Plus Savings — 4.70% APY
| Detail | Offer |
|---|---|
| Member rate | 4.70% APY on up to $20,000 in one SoFi Savings account; other Savings balances currently earn 3.30% APY |
| Requirement | Maintain a SoFi Plus subscription costing $10 per month. |
| Fine print | The 4.70% APY applies to one Savings account and cannot be combined with an APY boost on the same balance. Rates and the subscription price may change. |
| Expiration date | No published expiration date |
More official info: SoFi Plus
Credit Card Promotional Rates
SoFi 2% Unlimited Credit Card — 0% Introductory APR
| Detail | Offer |
|---|---|
| Introductory rate | 0% APR for 15 months on purchases and qualifying balance transfers |
| Transfer terms | Transfers must be completed within 60 days after opening. The fee is the greater of $10 or 5% of the amount transferred. |
| Annual fee | $0 |
| After 15 months | The outstanding balance converts automatically to a closed-end loan under the disclosed loan terms. The credit-card account may remain open for new transactions. |
| Availability | Only for qualifying applicants presented this specific offer. Verify that the promotional terms appear before applying. |
More official info: SoFi 2% Unlimited Credit Card Promotional Terms
Loan Rate Discounts
| Product | Available Discounts |
|---|---|
| Personal Loans | 0.25 percentage points for autopay, 0.25 for qualifying membership activity, and 0.25 for Direct Pay when at least half of the proceeds go directly to eligible creditors. The potential combined reduction is 0.75 percentage points. |
| Student Loan Refinancing | 0.25 percentage points for autopay and an additional 0.125 percentage points for qualifying membership activity |
| Private Student Loans | 0.25 percentage points for autopay, an applicable 0.125-point member discount, and a 0.125-point Continuing Scholar or Family Rate Discount for qualifying repeat borrowers or former cosigners |
| Member requirement | Establish SoFi Plus, Eligible Direct Deposit, or at least $5,000 in Qualifying Deposits within 31 days after funding and continue qualifying every 31 days. |
| Fine print | Discount eligibility and stacking vary by loan. Autopay must remain active, Direct Pay has debt and underwriting restrictions, and repeat-borrower discounts cannot combine with every promotion. Refinancing federal student loans permanently gives up federal borrower protections. |
| Expiration date | No published expiration date; SoFi may modify or end the discounts. |
More official info: SoFi Personal Loans | SoFi Student Loan Refinancing | SoFi Private Student Loans
Home Financing Discounts
| Detail | Offer |
|---|---|
| Mortgage discount | Up to $1,000 off the origination fee: $500 for qualifying SoFi members plus another $500 for SoFi Plus, Eligible Direct Deposit, or Qualifying Deposit members |
| Home equity discount | Up to $400 off the origination fee: $200 for qualifying SoFi members plus another $200 for SoFi Plus, Eligible Direct Deposit, or Qualifying Deposit members |
| Eligibility | Meet the applicable member requirements when the qualifying Utah mortgage, refinance, or home equity loan receives final approval. |
| Fine print | These are one-time fee reductions, not rate discounts. They do not apply when no origination fee is assessed, including VA loans, or when the applicant previously had a SoFi loan of the same type. |
| Expiration date | No published expiration date |
More official info: SoFi Mortgage Discounts | SoFi Plus Home-Financing Discounts
Referral Programs
SoFi offers public referral incentives for Checking and Savings, medical and dental student loan refinancing, Credit Score Monitoring, and SoFi Crypto. The referred customer must use the correct product-specific link.
Banking Referrals
Checking and Savings Referral — Up to $125 for the Referrer and $50 for the Recipient
| Detail | Offer |
|---|---|
| Referrer bonus | $75 or $100, plus $25 if the recipient completes the SoFi Plus requirements, for a maximum of $125 |
| Recipient bonus | $25, plus $25 after completing the SoFi Plus requirements, for a maximum of $50 |
| Requirements | The referrer must have SoFi Checking and Savings in good standing. The recipient must use the referral link, open the account as their first successfully opened SoFi product, and initiate at least $50 in eligible deposits within 25 calendar days. Peer-to-peer and FedNow instant transfers do not qualify. |
| SoFi Plus bonus | After meeting the standard requirements, the recipient must subscribe to SoFi Plus and have the $10 monthly payment processed within the same 25-day period. |
| Payment and limits | Paid within seven business days after validation and no later than 74 days after qualification. The recipient can earn the bank referral bonus once, and only the primary holder of a new joint account qualifies. The offer cannot be combined with the $20 Open Offer; stacking with the separate direct-deposit bonus is not expressly confirmed. |
| Expiration date | November 4, 2026, at 11:59 p.m. ET |
More official info: SoFi Bank Referral Program
Loan Referrals
Medical and Dental Student Loan Refinancing Referral — $1,000 Each
| Detail | Offer |
|---|---|
| Referrer bonus | $1,000 |
| Recipient bonus | $1,000 |
| Requirements | The recipient must use the referral link, apply as a new medical or dental Student Loan Refinance borrower, qualify, and fund the loan within 120 days. Both parties need SoFi Checking and Savings or an existing SoFi Money account. |
| Payment timing | The loan must remain active, unpaid, current, and in good standing for 90 days after disbursement. Payment follows within 30 calendar days. |
| Fine print | The recipient cannot have previously funded the same SoFi loan type. The offer cannot be combined with another promotion except the applicable autopay discount. Vermont residents are excluded; qualifying Utah residents may participate. |
| Expiration date | No published expiration date |
More official info: SoFi Loan Referral Program
SoFi also permits personal-loan and private-student-loan referrals, but the reward depends on the campaign attached to the member’s unique link. UtahFi does not publish a universal amount for those referrals.
Other Referrals
Credit Score Monitoring Referral — $10 in Points for Each Person
| Detail | Offer |
|---|---|
| Referrer bonus | 1,000 points, equivalent to $10 under SoFi’s published terms |
| Recipient bonus | 1,000 points, equivalent to $10 under SoFi’s published terms |
| Requirements | The referrer must be enrolled in Credit Score Monitoring. The recipient must use the link and activate monitoring within 60 days without having a current or previous SoFi product. |
| Payment and use | Points are credited within seven business days. SoFi Member Rewards enrollment and applicable redemption requirements apply. |
| Expiration date | No published expiration date |
More official info: SoFi Credit Score Monitoring Referral Program
SoFi Crypto Referral — $50 in SOFID for the Referrer and $25 for the Recipient
| Detail | Offer |
|---|---|
| Referrer bonus | $50 in SOFID |
| Recipient bonus | $25 in SOFID |
| Requirements | The referrer must maintain a SoFi Crypto account in good standing. The recipient must use the link, open a first SoFi Crypto account, and make one qualifying crypto purchase of at least $25 within 30 days. |
| Fine print | Stablecoin, tokenized-deposit, and cash-equivalent purchases do not satisfy the purchase requirement. SOFID is issued by SoFi Bank. Crypto and other digital assets are not FDIC or SIPC insured, are not bank guaranteed, and may lose value. |
| Expiration date | June 30, 2027, at 11:59 p.m. ET |
More official info: SoFi Crypto Referral Program
SoFi generally limits cumulative referral and welcome bonuses to $10,000 per person per calendar year. Referral rewards may be taxable. No general referral bonus is currently published for SoFi consumer credit cards or business banking products.
Member Deals and Discounts
SoFi offers measurable benefits through SoFi Plus, SoFi Travel, partner deals, and homebuying programs. SoFi Plus costs $10 per month, so its value depends on which benefits a member uses. Savings and borrowing incentives are covered under Promotional Rates, while referral incentives appear under Referral Programs.
SoFi Plus and Travel Benefits
| Benefit | Offer |
|---|---|
| Credit-card boost | 10% increase to the normal rewards rate on eligible SoFi Credit Card purchases. This is a multiplier, not 10% cash back. |
| Member Rewards | Double points on qualifying activities listed in the Membership & Rewards Center |
| Travel savings | Up to 10% or more on eligible bookings made through SoFi Travel |
| Standard travel rewards | 3% back in points on eligible SoFi Travel purchases paid with a SoFi Credit Card |
| SoFi Plus travel rewards | 5% back in points on eligible non-air bookings using any card, or 5.5% with an eligible SoFi Credit Card |
| Cost and terms | SoFi Plus costs $10 per month. Rewards require applicable enrollment and exclude ineligible transactions. The 5% and 5.5% travel rates exclude airfare and do not stack with other SoFi card or Plus rewards. Travel rewards may take up to 60 days after completion. |
More official info: SoFi Plus Benefits | SoFi Travel
Partner Deals and Discounts
Most partner offers require SoFi Plus and must be accessed through the Membership & Rewards Center or a link provided by SoFi.
| Partner | Offer |
|---|---|
| CNBC+ | 40% off a one-year subscription, reducing the $149.99 price to $89.99. Current subscribers are excluded. Expires February 15, 2027. |
| Wall Street Journal | One year of digital access for $129 for new subscribers. MarketWatch is separately available for $2 every four weeks for one year. Expires April 29, 2028. |
| ClassPass | New users receive 55 credits for a one-month trial; existing users who upgrade receive 15 credits. Cancel before renewal to avoid charges. Expires February 28, 2027. |
| Vivid Seats | 10% off eligible live-event tickets, up to $50 per order. Taxes, fees, and insurance are excluded. Expires July 15, 2027. |
| HelloPrivacy | 50% off an automatically renewing annual Data Broker Monitoring and Removal subscription |
| Trust & Will | $200 off an initial Trust plan for SoFi Plus members. Standard members receive 20% off an eligible Will or Trust-based estate plan. |
| TurboTax | 20% off federal filing for tax year 2025; state filing is excluded. Expires December 31, 2026. |
| Care.com | A 12-month Premium membership for $99 for new users. Expires December 31, 2026. |
| Rakuten | A $50 welcome bonus for new users after $50 in qualifying purchases within 90 days. It cannot be combined with Rakuten’s referral offer. |
| Seated | A one-time $20 credit for new users after linking a card and completing an eligible transaction. Expires December 31, 2026. |
| Fine print | Third parties fulfill these offers. Taxes, fees, renewal charges, and combination restrictions may apply. SoFi and participating providers may change or end them. |
More official info: SoFi Plus Partner Offers | SoFi Member Benefits
Homebuying Offers
| Offer | Details |
|---|---|
| HomeStory Rewards | Up to $9,500 after enrolling, using a participating real estate agent, and closing a qualifying home purchase or sale. A SoFi mortgage is not required. |
| HomeStory terms | Generally paid within 45 days after HomeStory receives the closing documents. Enrollment lasts 18 months. Commissions and transaction costs apply; short sales and some employer relocation programs are excluded. |
| On-Time Close Guarantee | Up to $10,000 toward closing costs or additional expenses when an eligible purchase mortgage misses the accepted closing date because of a delay caused by SoFi. |
| Guarantee terms | Document, appraisal, rate-lock, loan-condition, and timeline requirements apply. Refinances, bank-owned properties, short sales, and delays outside SoFi’s control are excluded. |
| Expiration date | No published expiration date |
More official info: SoFi Mortgage and On-Time Close Guarantee
Frequently Asked Questions
These answers explain common eligibility, qualification, and tax considerations for SoFi Bank promotions.
Does SoFi Bank offer checking account bonuses?
SoFi periodically offers cash bonuses tied to Checking and Savings. Requirements may include Eligible Direct Deposit or other qualifying activity.
Does SoFi Bank offer a separate savings account bonus?
SoFi may provide promotional APY boosts instead of a separate savings cash bonus. UtahFi treats these as promotional rates rather than cash bonuses.
Does SoFi Bank offer business account bonuses?
SoFi does not currently offer standard business checking or savings accounts, so no public business banking bonus was identified.
Does SoFi offer credit card welcome bonuses?
Cash or points offered for opening a card are treated as welcome bonuses. Introductory APR offers are promotional rates, while standard card rewards are not signup bonuses.
Can existing customers qualify for SoFi Bank promotions?
It depends on the offer. Some promotions accept existing members who have not previously used a particular product or feature, while others require a first SoFi account. Direct deposit is required only when stated in the applicable terms.
What counts as an Eligible Direct Deposit at SoFi?
SoFi generally defines it as a recurring ACH deposit of regular income from an employer, payroll provider, benefits provider, or government agency. Bank transfers, checks, wires, merchant transactions, peer-to-peer transfers, and tax refunds generally do not qualify.
Can I combine a SoFi referral bonus with another promotion?
Only when the applicable terms permit it. Referral and account-opening offers may have separate combination restrictions, so using a referral link does not guarantee eligibility for another promotion.
Are SoFi Bank promotions available to Utah residents?
The public offers included on this page are available to qualifying Utah residents. Product, credit, underwriting, and promotional requirements still apply. Personalized offers received through email, direct mail, the SoFi app, or an account dashboard may have different terms and are not necessarily available to everyone.
Are SoFi bonuses taxable?
Some SoFi Bank promotions may produce taxable income reported on an applicable tax form. Treatment varies by incentive and personal circumstances, so consult a qualified tax professional for guidance.
Disclaimer: Promotions, bonuses, rates, eligibility requirements, and other offer terms may change or be discontinued without prior notice. UtahFi works to keep this information current but cannot guarantee that all offer details remain unchanged. Always verify the latest terms and conditions directly with the financial institution before opening an account, applying for a product, or participating in an offer.
