The new SoFi Plus premium membership earns interest and cash back rewards. Earn up to $250 cash for enrolling in the benefits program and receiving at least one qualifying direct deposit. Members who previously enrolled in direct deposit in either SoFi Money or SoFI Checking & Savings do not qualify for this promotion.
- Update 10/24/2023: The SoFi Savings APY changed from 4.50% to 4.60%. Direct deposit or $5,000 or more in Qualifying Deposits will still be required to earn the headline APY, and without that being met, the APY will be 1.20%. The Checking APY stayed the same at 0.50% APY.
- Update 7/12/2023: Highest rate now up to 4.40% APY.
- Update 6/9/2023: The highest rate is now 4.30% APY.
- Update 4/25/2023: Offer has been extended through 12/31/2023. Rate has increased to 4.20% APY.
- Update 3/17/2023: Offer has been extended through 3/31/2023.
SoFi Plus is a benefits program that gives members premium perks such as interest rates, rewards, and discounts across the full suite of SoFi products.
Find more updated promotions and offers from SoFi here. SoFi typically has offers for SoFi Checking & Savings and their other products, such as SoFi Invest, Student Loan Refinancing and Personal Loans.
See Posts History below for more offers from SoFi.
SoFi Plus: Up To $250 Bonus + Up To 4.60% APY
- What you’ll get: Up To $250 + Up To 4.60% APY
- Where it’s available: Nationwide
- How to earn it:
- Receive a bonus worth up to $250 based on the total of the direct deposits you receive in a 25-day evaluation window.
- Members will also earn up to 4.60% APY. See the Bonus Details section below for more information.
- All new and existing members without a history of direct deposit transactions into their SoFi Checking and Savings account are eligible for the Program.
- Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings do not qualify for this promotion.
- When it expires: 12/31/2023
>> All you need to do to unlock SoFi Plus is set up direct deposit. Your benefits start on the day your paycheck gets deposited into your SoFi Checking & Savings account.
READ MORE: GET TOP BONUSES FROM CHASE, AXOS, AND BMO.
Bonus Details
- Members with direct deposit can earn 4.60% annual percentage yield (APY) on savings balances and 0.50% APY on checking balances. Members without direct deposit will earn 1.20% APY.
- 3% cash back rewards on credit card purchases
- 2x rewards points on qualifying activity
- 0.25% rate discount on personal loans (direct deposits must be $1000/month or more)
- Preferred access to IPOs
- Up to 2–day–early paycheck
- No–fee overdraft coverage (direct deposits must be $1000/month or more)
- Collect a cash bonus of $50 to $250 depending on your direct deposit amount during your 25-day evaluation period:
| Total Qualifying Direct Deposit amount in 25-day Evaluation Period | Cash Bonus |
|---|---|
| $1,000 – $4,999 | $50 |
| $5,000 or more | $250 |
READ MORE: GET THIS $500 BONUS PROMO FROM BMO BEFORE IT EXPIRES
Fine Print
- SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.60% 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 stated interest rate.
- Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period 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 10/24/2023.
- There is no minimum balance requirement.
- Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
- In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit from an Eligible Participant before the end of the Promotion Period.
- Qualifying Direct Deposits are defined as deposits from an enrolled member’s employer, payroll, or benefits provider via ACH deposit.
- Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion.
- No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period.
Bottom Line
SoFi Plus gives you additional perks to go with your SoFi Checking & Savings account.
If you already earned the deposit bonus when you signed up for SoFi Checking & Savings, you can’t stack it with this offer, but you’ll start getting the benefits from the premium membership once you receive your first direct deposit.
More from SoFi:
- Best SoFi Sign Up Bonuses, Promotions Of June 2025
- SoFi Personal Loans Sign Up Bonus: Get $300 & Competitive Rates
- SoFi Student Loan Refinancing Sign Up Bonus: Get $300 Offer & $300 Referrals
- Sofi Student Loan Refinance Offer: $1,000 Bonus for Doctors & Dentists Through Referral
- SoFi Active Investing Promotions: $25 Sign Up Bonus + $50 Referral
- SoFi Invest Promotion: Extra 1% IRA Match (Up To Annual Contribution Limits)
- SoFi Checking & Savings Sign Up Bonus: Earn Up to $650 Via Referral, Swagbucks/Rakuten
- SoFi Checking & Savings Promotion: Sign Up Bonus Increased To $325 + Up To 4.60% APY
- SoFi Invest: Transfer Your Investments to Earn Up to $10,000 Bonus
- SoFi Invest Promotion: $200 Welcome Bonus With Swagbucks Or $175 Rakuten
- Swagbucks Deal: Get $10 Rewards + 750 SB (Worth $7.50) When Sign Up For Credit Insights From SoFi Relay
- SoFi Credit Card Up To $250 Bonus & 3% Cash Back
- SoFi Mortgage Loans Review: 10% Down On Loans Up To $3M
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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