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SoFi Checking & Savings: Earn Up to 4.60% APY + Up to $250 with Direct Deposit, terms apply Expired

+81 Deal Score
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SoFi is offering up to $250 with direct deposit, terms apply. Up to 4.60% APY on savings and 0.50% APY on checking. No account fees.

Thanks to Slickdeals Staff Member EfficientGame645 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 Direct Deposit amount in 25-day Evaluation Period :
    • $1,000 - $4,999 Total Direct Deposit: $50 Cash Bonus
    • $5,000 or more Total Direct Deposit: $250 Cash Bonus
  • SoFi will credit members who meet qualification criteria within seven business 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 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances.
  • There is no minimum direct deposit amount required. However, please note that there is a minimum direct deposit required for No-Fee Overdraft Coverage ($1,000).
    10/24/2023. Additional information can be found at https://www.sofi.com/banking/
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.

Slickdeals may be compensated by SoFi

Original Post

Written by
Edited December 7, 2023 at 10:30 AM by
SoFi is offering up to $250 with direct deposit, terms apply. Up to 4.60% APY on savings and 0.50% APY on checking. No account fees.

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 Direct Deposit amount in 25-day Evaluation Period :
    • $1,000 - $4,999 Total Direct Deposit: $50 Cash Bonus
    • $5,000 or more Total Direct Deposit: $250 Cash Bonus
  • SoFi will credit members who meet qualification criteria within seven business 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 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances.
  • There is no minimum direct deposit amount required. However, please note that there is a minimum direct deposit required for No-Fee Overdraft Coverage ($1,000).
    10/24/2023. Additional information can be found at https://www.sofi.com/banking/
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.

Slickdeals may be compensated by SoFi
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Deal
Score
+81
183,634 Views
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.

319 Comments

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Or i could go get 5%+ at one of the any other savings accounts that dont require 'direct deposit' to get high rates.
They added beneficiary thing last month or so

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Joined Dec 2018
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ScarletNest4118
07-18-2023 at 05:43 AM.

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07-18-2023 at 05:43 AM.
Or i could go get 5%+ at one of the any other savings accounts that dont require 'direct deposit' to get high rates.
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Joined Nov 2015
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> bubble2 1,470 Posts
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Doug5421
07-18-2023 at 08:49 AM.
07-18-2023 at 08:49 AM.
Quote from ScarletNest4118 :
Or i could go get 5%+ at one of the any other savings accounts that dont require 'direct deposit' to get high rates.

Examples?
7
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Joined Sep 2015
L5: Journeyman
> bubble2 850 Posts
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dagarwal3
07-18-2023 at 08:52 AM.
07-18-2023 at 08:52 AM.
I have Sofi for long time. Good interest rates. If you open account with referral link you get extra $25 too. Just opened for my wife too. she got $275 bonus.
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phoenixforce
07-18-2023 at 09:57 AM.
07-18-2023 at 09:57 AM.
Sofi is pretty spammy in app and website. Still considered using them as primary banking after signing up to take advantage of a similar promo a year or so ago. One major gap they have is no ability to set a POD beneficiary of any kind on the account, which ultimately led me to not use this account or keeping any sort of significant funds there. My wife is using them as primary and another major gap is ability to do re occuring transfers to another account. We xfer money to a joint account for bills each month and she has to do remember to do this manually now.
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peste19
07-18-2023 at 10:10 AM.

Our community has rated this post as helpful. If you agree, why not thank peste19

07-18-2023 at 10:10 AM.
Quote from Doug5421 :
Examples?

https://www.depositaccounts.com/savings/
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Joined Nov 2015
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> bubble2 4,137 Posts
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dshoppr
07-18-2023 at 10:57 AM.

Our community has rated this post as helpful. If you agree, why not thank dshoppr

07-18-2023 at 10:57 AM.
Quote from phoenixforce :
Sofi is pretty spammy in app and website. Still considered using them as primary banking after signing up to take advantage of a similar promo a year or so ago. One major gap they have is no ability to set a POD beneficiary of any kind on the account, which ultimately led me to not use this account or keeping any sort of significant funds there. My wife is using them as primary and another major gap is ability to do re occuring transfers to another account. We xfer money to a joint account for bills each month and she has to do remember to do this manually now.

They added beneficiary thing last month or so
3
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Joined Jan 2005
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dtran324
07-18-2023 at 10:58 AM.
07-18-2023 at 10:58 AM.
Quote from phoenixforce :
Sofi is pretty spammy in app and website. Still considered using them as primary banking after signing up to take advantage of a similar promo a year or so ago. One major gap they have is no ability to set a POD beneficiary of any kind on the account, which ultimately led me to not use this account or keeping any sort of significant funds there. My wife is using them as primary and another major gap is ability to do re occuring transfers to another account. We xfer money to a joint account for bills each month and she has to do remember to do this manually now.

Not sure exactly if this is POD beneficiary, but they recently added the ability to add beneficiaries.

https://support.sofi.com/hc/en-us...y-account-
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Joined Jan 2015
peeing outdoors
> bubble2 1,866 Posts
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khronos
07-18-2023 at 02:59 PM.
07-18-2023 at 02:59 PM.
Quote from ScarletNest4118 :
Or i could go get 5%+ at one of the any other savings accounts that dont require 'direct deposit' to get high rates.

Or you could do both and get that $250 bonus...
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Joined Aug 2009
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realcul
07-18-2023 at 05:01 PM.
07-18-2023 at 05:01 PM.
Love my Sofi account and their vaults feature.
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Joined Dec 2007
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tkerugby
07-18-2023 at 05:42 PM.
07-18-2023 at 05:42 PM.
Transfers from SoFi are unbelievably fast. I recently made SoFi my primary bank and considering it for investments too. I have had no issues. To anyone on the fence, it's definitely worth trying out. I think it took me all but 30 seconds to open the account.
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Last edited by tkerugby July 18, 2023 at 05:44 PM.

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