SoFi Checking and Savings, $610 Bonus and Up to 3.80% APY

SoFi Checking and Savings Bonus

Article Updates:

Apr 11, 2025 – MyPoints now has the top offer of around $285 (45,050 MyPoints). Add the $300 from SoFi and $25 from a referral link, and you are able to earn a total bonus of $610. This account also earns an interest rate of up to 3.80% (with qualifying activities). If you don’t have a MyPoints account, you are able to also earn a $3 bonus as a latest user. See  offer here.

You will need to click the referral link first (that’s one of our referrals) and then open the shopping portal of your choice in a different tab and continue the account opening process from there. If you have a friend or family members who can refer you, they will get $75 as well, so that’s the top way to go.

Apr 02, 2025 – InboxDollars now has the top offer of $265. Add the $300 from SoFi and you are able to earn a total bonus of $530. This account also earns an interest rate of up to 3.80% (with qualifying activities). If you don’t have a InboxDollars account, you are able to also earn a $5 bonus as a latest user. See  offer here.

Mar 18, 2025 – The Rakuten offer is now up to $250, or 25,000 Membership Rewards points. Add the $300 from SoFi and you are able to earn a total bonus of $550. This account also earns an interest rate of up to 3.80% (with qualifying activities). If you don’t have a Rakuten account, you are able to also earn 3,000 Membership Rewards points (or $30) signup bonus as a latest user. See  offer here.

Oct 09, 2024 – Rakuten is now offering a top ever bonus of $350, or 35,000 Membership Rewards points, which is even more valuable. Add the $300 from SoFi and you are able to earn a total bonus of $650. This account also earns an interest rate of up to 4.50% (with qualifying activities). If you don’t have a Rakuten account, you are able to also earn 3,000 Membership Rewards points (or $30) signup bonus as a latest user. I’m sure most people will prefer Rakuten over Swagbucks and MyPoints, as they are more reliable with tracking cashback.affiliate link

Sep 16, 2024 – Rakuten is now offering a bonus of $250, or 25,000 Membership Rewards points, which is even more valuable. Add the $300 from SoFi and you are able to earn a total bonus of $550. Interest rate is slightly lower at 4.50% (with qualifying activities). 

Aug 19, 2024 – Rakuten is now offering a top ever bonus of $350, or 35,000 Membership Rewards points, which is even more valuable. Add the $300 from SoFi and you are able to earn a total bonus of $650. Interest rate is also up to 4.60%. . (HT: Carrie in our Facebook Group)

Jul 08, 2024 – The SoFi Checking and Savings bonus is now $300. Swagbucks is now offering an extra $250 for a total bonus of $530. Interest rate is still up to 4.60% APY.

SoFi Checking & Savings now offers up to a 4.60% annual percentage yield (APY) for all members who have direct deposit. This account will also offer 1.20% APY for those looking for a high yield opportunity without direct deposit. There are no limits or balance caps to earn interest.

SoFi Checking & Savings launched in February, replacing the SoFi Money account. There’s also a signup bonus. latest SoFi Checking and Savings customers can get $300. We have seen better offers in the past, especially when there’s an extra incentive offered by Swagbucks. 

SoFi Checking and Savings $300 Bonus

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. For example, if you receive $1,000-$4,999 in Qualifying Direct Deposits in the Evaluation Period, you will receive a cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if inflows subsequently increase beyond the Evaluation Period. you are able to see the bonus here.

you are able to also get an extra $25 if you go through a referral link. Referrals give you $325 instead of $300 with the same requirements. You will need to click the referral link first and then open the shopping portal of your choice in a different tab and continue the account opening process from there.

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. Qualifying Direct Deposits are defined as deposits from 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. The amount of the bonus, if any, is described below. No bonuses shall be paid for qualifying Direct Deposits of less than $1,000 during the Evaluation Period (defined below).

SoFi will credit members who meet qualification criteria within 14 days of the end of the Evaluation Period.

$230 Swagbucks Bonus

you are able to now also earn a $230 bonus from Swagbucks. Just search for SoFi. This is how it works:

• Must open a latest account and complete direct deposit within 45 days.
• First deposit must be a qualifying direct deposit of $400 or more
• SB will appear as Pending for 32 days.
• Must be a latest SoFi Checkings & Savings user.

Earning 3.80% APY

SoFi members with direct deposit can earn up to 3.80% 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 3.80% APY. Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

Guru’s Wrap-Up

This is a good bonus for those who don’t already have a SoFi account. you are able to get $300 from SoFi when you complete $5,000 or more in direct deposits, and another $350 from Rakuten for depositing $200. The account will also earn 4.60% APY with a direct deposit, which is a good rate currently.

With that said, it’s worth pointing pointing out that bank bonuses in general are a great way to earn some extra income, often from the comfort of your home. you are able to take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you are able to check our full list of available bank bonuses. you are able to also access bonuses available in your state by visiting dannydealguru.com/tag/NY-bank-bonus/ (this is an example for latest York). Just replace “NY” with your state or with “nationwide”.

And, if you’re latest to bank account bonuses, you are able to learn more about churning bank accounts here.

Link & Key Details

• OFFER PAGE
• Bonus: $610
• Account Type: SoFi Checking & Savings
• Availability: Nationwide
• Inquiry Type: Soft pull
• Credit Card Funding: No
• Direct Deposit Requirement: $1,000 or more (see what works)
• Other Requirements: $200 deposit
• Monthly Fee: No
• Closing Account Fee: Unknown
• Expiration Date: 3/31/23 12/31/23 4/30/25

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