SoFi Promotions – $100 for Money, $50 for Invest, $300 for Loan Refinance

SoFi is a financial services company that offers all kinds of financial products and services.

Do you need a bank account? They have one (technically, a cash management account, but basically the same thing)

Need a brokerage account? Yep, they have that too.

Need to refinance a loan? They can help with that as well.

All of this on top of in-person events (after the pandemic) and career services that can help you get the job you want or get them to pay you more. SoFi takes a holistic approach to helping you with your money and it’s what separates them from many other companies.

This includes bonus money promotions. When you sign up for an account, when you refinance a loan, and sometimes even when you simply request a quote – they will give you bonus money to help you out.

As you’d expect, the biggest promotions are the ones associated with their loan products. If you need a loan, and if the rate and other terms are right, it’s a great incentive to use them over others. If you don’t need a loan, they also have some great promotions associated with their banking and investing products.

Citi Priority Account – $300, $700, or $1,500

Citi is offering $300, $700, or $1,500 when you open a Citi Priority Account by 10/4/2021.

Then, within 30 days of opening your account, deposit New-to-Citi funds and keep it there for 60 days. The bonus is based on the amount you transfer, starting at $15,000.

This is a limited time offer so don’t wait!

Learn more about this Citi offer

Table of Contents
  1. SoFi Money New Account – $25 (No Direct Deposit)
  2. SoFi Money New Account – $100 (Direct Deposit Required)
  3. SoFi Money Set Up Direct Deposit – $100
  4. SoFi Invest New Account – $50
  5. SoFi Invest New Account Claw Game – $5 – $1,000
  6. SoFi Loan Refinance – $300

SoFi Money New Account – $25 (No Direct Deposit)

SoFi Money is their cash management account and the current yield is 0.25% APY, which is decent, but they also offer a modest but easy to get $25 bonus. This offer does not have a direct deposit requirement (the next one, which is for more money, requires one).

Just open an account and get $25 – that’s it. With no account fees, you won’t have to worry that a little mistake will cost you some of that bonus money.

Get $25 from SoFi Money

SoFi Money New Account – $100 (Direct Deposit Required)

SoFi Money has a higher $100 bonus offer that requires a direct deposit. It’s a little more involved but has a higher total bonus amount, which is why we list it second.

The bonus has three tiers:

  • Sign up and deposit $250 into your account – you get $25
  • Set up a direct deposit of $500+ – you get another $75

As you can see, this offer is slightly higher than the first one but requires you to jump through more hoops. If you don’t mind changing a direct deposit, we list a lot of banks with higher bonuses for this.

Learn more about SoFi Money

SoFi Money Set Up Direct Deposit – $100

If you already have an existing SoFi Money account, you can get $100 if you set up a direct deposit from your employer to SoFi Money. Just get $1,000 or more in qualified direct deposits by September 30th, 2021 and they’ll give you $100.

In February, this offer was for just $75 (but for $500 in direct deposits) so this is a better offer and you have through April to do it!

Learn more about this offer
(Offer expires 9/30/2021)

SoFi Invest New Account – $50

Once you have a SoFi Money account, it’s time to get another $50 by opening a SoFi Invest account. You get that in stock and all you need to do is fund the account with at least $5,000. That’s the only requirement and the account has no fees, so you won’t get dinged.

The only requirement is that you need to sign up to SoFi Invest with a referral link (that’s one so you can use that). Then, deposit the $5,000 and you get $50 in free stock.

As an added bonus, if you want to get into cryptocurrencies, you can get $25 in Bitcoin after your first crypto trade of at least $10. Trading crypto has no “fee” but they do charge a markup of 1.25% on each trade, so the fee is integrated into the price.

Learn more about SoFi Invest

SoFi Invest New Account Claw Game – $5 – $1,000

If you don’t have $5,000 to deposit for the guaranteed $50, you can also sign up for a SoFi Invest account and play their Claw Game. All new accounts who sign up will get a random dollar amount of stock ranging from $5 to $1,000. Most people will only get $5 so if you have $5,000 then the referral bonus is better.

Otherwise, the odds are:


The advantage is that this promotion requires no funding so you can literally sign up, get the stock, and transfer it to your SoFi Money account.

Learn more about SoFi Invest

SoFi Loan Refinance – $300

SoFi offers a variety of loans but the two biggest areas are Personal Loans and Student Loan Refinancing. SoFi will give you $300 when you successfully complete a SoFi Personal Loan or Student Loan Refi, it’s as simple as that.

IF you are looking to refinance, it’s important to shop around because $300 is a nice bonus but only if you get the best possible rate given your situation. No sense taking $300 now if it means paying more on your loan in the long run. We maintain a list of the best student loan refinance companies and I recommend you give them a look to see who can give you the best rate. Some of them will offer bonuses too.

Check your rates in minutes for free on SoFi

Check back for more promotions as they become available – I will update this post as we learn more.

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About Jim Wang

Jim Wang is a thirty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader.

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  1. Kevin says

    Here are the details:

    Offer: New SoFi Money Members who make a deposit(s) of $500 or more will receive a $50 bonus; additionally, the $500 minimum balance needs to stay in the new member’s account for 90 days in order for the new member to qualify for the $50 bonus.

    • Jim Wang says

      You’re right Randy! Thanks for letting me know, I’ve updated the post. There are a lot of great free stock promotions out there too from the likes of Webull and Robinhood.

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