SoFi Checking & Savings Bonus
Today is a good day to apply for a new SoFi Checking & Savings account. Rakuten is offering a bonus of $400 or 40,000 Amex/Bilt points, SoFi has a bonus of $400 and you can also get an extra $25 with a referral link. On top of that you can earn 4.00% APY for the first six months if you have direct deposit. 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 | $400 |
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 $400 from Rakuten
To qualify for Cash Back, the customer must apply for a new SoFi Checking and Savings account directly through the Rakuten link and set up and post a direct deposit with their net INITIAL direct deposit for a minimum of $500 within 45 days of clicking the Cash Back link.
- Limit one Cash Back offer per Rakuten account.
- Cash Back will be credited to the customer’s Rakuten account after the qualifying direct deposit is posted to the SoFi Checking and Savings account which can take several weeks or longer.
- Browser cookies must be enabled.
- This offer is applicable only to SoFi members who have not previously opened a SoFi Checking and Savings account.
Extra $25 with Referral
You can also get an extra $25 if you go through a referral link. You need to click the referral link first and then open Rakuten in a different tab and continue your new account application from that Rakuten tab. The person referring you gets a $75 referral bonus.
Conclusion
All these bonuses put together will get you up to $825 for a new SoFi Checking & Savings account. If you can use a referral link from a family member, they will also get $75, making it even better.
The bonus from Rakuten is even more valuable than $400 actually, since you can also choose to take it as 40,000 American Express or Bilt points. But don’t wait too long, the Rakuten promotion is only available today.
If you don’t have a Rakuten account yet, you can also add a $50 signup bonus (or 5,000 points) to the total.
