SoFi Checking & Savings: Open New Account w/ Direct Deposit, Get
Expired
Up to 4.20% APY
+ $250 Bonus w/ $5K+ in Direct Deposit Transactions
+40Deal Score
66,106 Views
SoFi is offering 4.20% APY on Savings or1.20% APY on Checking + Up to$250 Bonuswhen you Open a New Online Account and Set UpDirect Deposit.
Thanks to Community Member Knockknock13 for posting this deal.
Details/Features:
After Opening a New Account and setting up Direct Deposit, wait for your direct deposit to hit your account (typically 2-4 weeks).
Amount of Direct Deposit Cash Bonus depends on Total Qualifying Direct Deposit amount in 25-day Evaluation Period:
$1,000 - $4,999.99 Total Qualifying Direct Deposit: $50 Cash Bonus
$5,000 or more Total Qualifying Direct Deposit: $250 Cash Bonus
SoFi will credit members who meet qualification criteria within (7) business days of the end of the Evaluation Period.
Direct Deposit Bonus Promotion ends 12/31/23 11:59PM ET.
No account fees. No-fee Overdraft Coverage.
ATM access at any of the 55,000+ ATMs within the Allpoint network
Up to 2-day-early-paycheck
Up to 15% cash back at local businesses
You'll earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances with direct deposit. Members without direct deposit will earn 1.20% APY.
There is no minimum direct deposit amount required. However, please note that there is a minimum direct deposit required for No-Fee Overdraft Coverage ($1,000).
Interest rates are variable and subject to change at any time. Rates are current as of 4/25/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
SoFi is offering up to $250 with qualifying direct deposit, terms apply. Up to 4.30% APY on savings and 1.20% APY on checking. No account fees.
Starting from 06/09 this became 4.30%apy for savings accounts
Details/Features:
After Opening a New Account and setting up Direct Deposit, wait for your direct deposit to hit your account (typically 2-4 weeks).
Amount of Direct Deposit Cash Bonus depends on Total Qualifying Direct Deposit amount in 25-day Evaluation Period :
$1,000 - $4,999 Total Qualifying Direct Deposit: $50 Cash Bonus
$5,000 or more Total Qualifying Direct Deposit: $250 Cash Bonus
SoFi will credit members who meet qualification criteria within 14 days of the end of the Evaluation Period.
No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint Network.
Up to 2-day-early-paycheck
Get up to 15% cash back at local establishments when you pay with your SoFi debit card.
Organize your money, set savings goals, and save your change with Vaults and Roundups.
You'll earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances with direct deposit. Members without direct deposit will earn 1.20% APY.
There is no minimum direct deposit amount required. However, please note that there is a minimum direct deposit required for No-Fee Overdraft Coverage ($1,000).
Interest rates are variable and subject to change at any time. Rates are current as of 4/25/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
Slickdeals is not registered as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended, and nothing in these materials should be construed as advice concerning securities, the value of securities, the advisability of investing in, purchasing, or selling securities, or the merits of any investment adviser.
These responses are not provided or commissioned by the bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
I switched from Chase a while back. It's still a little strange to get monthly interest payments after so long with Chase's 0.000000001%
I just keep everything in savings for the higher interest rate. They have a setting called overdraft protection where they just move money automatically from your savings if there is not enough in your checking to cover an expense.
Why don't they make it a full month to get 2 direct deposits instead of '25 day evaluation period' seems gimmicky and a way to make it harder to qualify for employer's direct deposits to hit in time.
That's exactly why they don't make it a month.
I've found a good rule of thumb whenever looking at a bank giving out bonuses is to skip the marketing wank and go straight to the full terms and conditions to see how they're going try to weasel out, and what you need to do if you want to stop them.
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Dont do it. You don't want your money to get stuck here when they go bk. Specially now stocks are about to roll over. Youre going to miss an opportunity of a lifetime.
I opened samsung money by sofi which gives 3.75 APY as compared to 4.2 directly with sofi. Wondering if sofi can convert my account to regular sofi from samsung sofi? Anyone has done this before?
Thanks for this actually. Ended up opening up a SoFi account last month for the bonus and early deposit since CIT denied me for some reason (probably dodged a bullet, truthfully). So far not much bad to say about SoFi, but having no option for manually adding a transfer bank is pretty awful. Everything else has been great otherwise.
Vio seems pretty legit so I'm moving some funds there as well. Much appreciated!
Thanks for this actually. Ended up opening up a SoFi account last month for the bonus and early deposit since CIT denied me for some reason (probably dodged a bullet, truthfully). So far not much bad to say about SoFi, but having no option for manually adding a transfer bank is pretty awful. Everything else has been great otherwise.
Vio seems pretty legit so I'm moving some funds there as well. Much appreciated!
How long did it take for you to receive the bonus after completing the qualifying direct deposit?
How long did it take for you to receive the bonus after completing the qualifying direct deposit?
Great question, I'm still in the process of it lol. My first deposit went in last week and immediately got the bump to "Plus". I'm guessing after my 2nd deposit, the 25-day promo period still has to end and then I'll report back.
Just FYI if your waiting for student loan forgiveness this company is trying to block it so they can keep charging people interest. Real scumbags.
SoFi is able to offer student loan refinancing at better rates than the government for those who have good credit. This benefits the consumer. The lawsuit is not trying to block student loan forgiveness, they are trying to end the pause in interest payments which has carried on for far too long. I pay student loans and I don't think it's fair that tax payers have to shoulder the burden of other peoples debt. I don't see anything wrong with SoFi trying to protect their business.
SoFi is able to offer student loan refinancing at better rates than the government for those who have good credit. This benefits the consumer. The lawsuit is not trying to block student loan forgiveness, they are trying to end the pause in interest payments which has carried on for far too long. I pay student loans and I don't think it's fair that tax payers have to shoulder the burden of other peoples debt. I don't see anything wrong with SoFi trying to protect their business.
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I just keep everything in savings for the higher interest rate. They have a setting called overdraft protection where they just move money automatically from your savings if there is not enough in your checking to cover an expense.
I've found a good rule of thumb whenever looking at a bank giving out bonuses is to skip the marketing wank and go straight to the full terms and conditions to see how they're going try to weasel out, and what you need to do if you want to stop them.
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Vio seems pretty legit so I'm moving some funds there as well. Much appreciated!
Sign up for a Slickdeals account to remove this ad.
Vio seems pretty legit so I'm moving some funds there as well. Much appreciated!
Great question, I'm still in the process of it lol. My first deposit went in last week and immediately got the bump to "Plus". I'm guessing after my 2nd deposit, the 25-day promo period still has to end and then I'll report back.
SoFi is able to offer student loan refinancing at better rates than the government for those who have good credit. This benefits the consumer. The lawsuit is not trying to block student loan forgiveness, they are trying to end the pause in interest payments which has carried on for far too long. I pay student loans and I don't think it's fair that tax payers have to shoulder the burden of other peoples debt. I don't see anything wrong with SoFi trying to protect their business.
Is this sofi PR team? 😀
Just a recent SoFi customer….. but now that you say it maybe I should consider PR.
No worries you are entitled to your opinion. It's Friday and I don't feel like arguing. Have a good weekend.
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