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SoFi Checking & Savings, $500 Bonus and 4.60% APY

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SoFi Checking & Savings Bonus

SoFi is now offering up to 4.60% APY for its SoFi Checking & Savings account for all members who have direct deposit. Additionally you can earn a bonus of up to $500. $300 comes from SoFi and another $200 from Swagbucks. Let’s see the details.

The Offer

The bonus amount will vary based on the total amount of Qualifying Direct Deposits received during the Evaluation Period. The Evaluation Period is defined as 30 days from the date your first Qualifying Direct Deposit is received. You can see the bonus here.

Total Qualifying Direct Deposit amount in 30-day Evaluation Period Cash bonus
$1,000 – $4,999 $50
$5,000 or more $300


In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit from an Eligible Participant during the Promotion Period. SoFi will credit members who meet qualification criteria within 14 days of the end of the Evaluation Period.

Extra $200 from Swagbucks

Swagbucks is also offering a $200 bonus for new SoFi Checking & Savings customers. Just click through Swagbucks and open a new SoFi Checking & Savings account. You then need to set up a Direct Deposit of $400 or more to earn the bonus.

  • Must set up a Direct Deposit of $400 or more within 45 days of account opening.
  • Award will Pend for 32 days. Allow up to 5 days for award to appear as Pending.
  • Must be a new SoFi Checkings & Savings user.


How to Earn 4.60% APY

SoFi members with direct deposit can earn up to 4.30% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). There is no minimum direct deposit amount required to qualify for 4.30% APY.

Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults).

Interest rates are variable and subject to change at any time.


This is a very good bonus for new SoFi Checking & Savings customers. You get $300 from SoFi when you complete $5,000 or more in direct deposits, and another $200 from Swagbucks for completing a $400 direct deposit. The best ever bonus was $520.

You must have a Swagbucks account, and if you don’t, you can also get a $10 bonus when you create one.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

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