SoFi Plus: Make the Most of Your Money Every Day

SoFi Members, rejoice: SoFi Plus is here to make your money work harder for you! Over the coming weeks, SoFi will be rolling out SoFi Plus to all eligible members to provide a full package of perks across our suite of products, including our highest APY¹, extra cash back rewards², exclusive rate discounts and so much more. We heard from our Members that your finances can be a significant source of stress, so with SoFi Plus our goal is to offer our Members more control and peace of mind over their finances.

What is SoFi Plus?
SoFi Plus is our first-ever premium membership product, intended to ensure members get the most out of their money at every turn. We created SoFi Plus based on feedback from our Members on where you wanted more support from SoFi to meet your financial goals, and we took those ideas to inspire a membership program as unique as our one-of-a-kind Rewards Program.

SoFi Plus is designed to act as an easy upgrade to your whole financial operating system, unlocking premium benefits that give you a boost on your journey to financial independence. SoFi Plus provides you the best value for using all of SoFi’s products and services together, giving you peace of mind that you can turn to SoFi for all of your financial needs.

What Benefits Are Included in SoFi Plus?
SoFi Plus members will have access to the best benefits across all of SoFi’s products and services, delivering added value across all of SoFi’s product lines. The current benefits include a 3.25% APY on savings accounts (13x the national average savings account rate)³ and a 2.50% APY (Annual Percentage Yield) on checking accounts with SoFi Checking and Savings¹’ ⁴ accounts (62x the national checking average⁵), our highest APY offered, as well as double the rewards points on qualifying activities⁶ (such as activating a debit card, maintaining a 7-day login streak to the SoFi app and linking external accounts to SoFi Relay⁷), preferred access buying into IPOs⁸’ ⁹, up to 2-day early paychecks¹⁰, discounted personal loan rates¹¹ and no-fee Overdraft Coverage¹². Every benefit we have included is designed to make saving and managing your money easier than ever and getting you more for your hard-earned cash.

Members will enjoy these features alongside all the fantastic benefits already available to SoFi members, including complimentary access to Certified Financial Planners¹³, access to career counselors, extensive educational resources, as well as online and in-person member-only events.

How Can I Get SoFi Plus?
To unlock SoFi Plus, members only need to set up and maintain a qualifying monthly direct deposit to SoFi Checking and Savings. Once your direct deposit posts to your account, and you are officially a SoFi Plus member, you will get an email notification. You will also see a SoFi Plus badge next to your name in the app. It typically takes 2-4 weeks for direct deposit to hit members’ accounts.

SoFi Plus is rolling out to all members over the coming weeks, so keep a close eye on the app and your email for notification you’re eligible to enroll! If you have not done so already, get a SoFi Checking and Savings account and set up a direct deposit to make sure you get early access to SoFi Plus. Sign up here!

Want to see everything SoFi Plus offers and stay up to date as we add new benefits? Keep an eye out for more updates on all things SoFi Plus here on the SoFi blog.

1. SoFi members with direct deposit can earn up to 3.25% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 3.25% APY for savings and 2.50% APY for checking balances. 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. These rates are current as of 11/30/2022. Additional information can be found at

2. Terms and conditions apply. Learn more at

3. 13x based on FDIC monthly savings account rate as of November 30, 2022.

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5. 62x based on FDIC monthly interest checking rate as of November 30, 2022.

6. Terms: 2x rewards points on qualifying activity: Monthly grant of Rewards Points under the SoFi Rewards Program (Please review your “How to earn points” page in your app for additional details) during periods in which the Plus Member has enabled Qualifying Direct Deposits. The specific number of rewards points is subject to change at any time and can be found here. SoFi Plus members also can earn double the points as stated on the SoFi Member Rewards “Earn Wall” for qualifying earn triggers (see app for most up-to-date source of truth) with the following exclusions: Credit or Debit card spend paid in rewards points, welcome bonuses paid in rewards points (including any referral bonuses paid in rewards points), points for recurring Direct Deposits, and select incentivized campaigns paid in rewards points where noted.

7. SoFi’s Relay tool offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc’s service. The credit score provided to you is a VantageScore® based on TransUnion® (the “Processing Agent”) data .

8. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(

9. Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement. IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.

New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For SoFi’s allocation procedures please refer to IPO Allocation Procedures.

10. Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date.

11. To qualify for an additional 0.25% APR direct deposit discount you must: (1) set up autopay with a SoFi Checking and Savings or a SoFi Money account within 20 days of the funding of your loan, AND (2) setup payroll direct deposits of at least $1,000/mo to a SoFi Checking and Savings account or a SoFi Money account within 35 days of the funding of your loan. If you do not set up autopay with a SoFi Checking and Savings account or a SoFi Money account within 20 days of the funding of your loan, AND set up payroll direct deposits to a SoFi Checking and Savings account or a SoFi Money account within 35 days of the funding of your loan, you will not be qualified for this additional 0.25% direct deposit rate reduction. Once qualified, you will receive this additional 0.25% direct deposit discount during periods in which you have direct deposits of at least $1,000/mo turned on with your SoFi Checking and Savings account or SoFi Money account. This additional direct deposit discount will be lost during periods in which you have turned off direct deposits for your SoFi Checking and Savings account or SoFi Money account. You are not required to enroll in autopay or direct deposits to receive a loan. The Direct Deposit Rate Reduction excludes members from receiving any other cash incentive related to the SoFi Checking and Savings direct deposit promotional program.

12. Overdraft Coverage is limited to $50 on debit card purchases only and is available to customers with monthly direct deposits of $1,000 or more. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

13. Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP®, and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.

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