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SoFi at Work – Summer Concert Sweepstakes Official Rules (Weeknd)

SOFI AT WORK

SUMMER CONCERT SWEEPSTAKES

OFFICIAL RULES

NO PURCHASE NECESSARY TO ENTER OR WIN.

A PURCHASE WILL NOT IMPROVE YOUR CHANCES OF WINNING.

The SoFi at Work Summer Concert Sweepstakes (the “Sweepstakes”) begins at 12:00:01 AM Eastern Time (“ET”) on June 1, 2022 and ends at 11:59:59 PM ET on July 22, 2022 (the “Sweepstakes Entry Period”).

ELIGIBILITY: To be eligible for this Sweepstakes, at the time of participation, Sweepstakes is solely opened to employees or members of SoFi at Work partners who at time of entry are: a) 18 years of age or older; and b) are legal residents of and physically located within the 50 United States or the District of Columbia (collectively, the “Entrant”); and c) employee/member of SoFi at Work partner who has accepted the invitation to participate in the Sweepstakes. For the purposes of these Official Rules, a SoFi at Work partner is defined as: employers and associations that are on SoFi’s current partner list (each, a “SoFi Partner”). Click on https://www.SoFi.com/SoFi-at-Work for details. Entrant cannot be: (i) a current employee (or have been employed within the last twelve months) of Social Finance, LLC (the “Sponsor”), its parent, or any subsidiary, affiliated or successor companies or Ventura Associates International LLC (the “Administrator”), or any advertising, promotional or fulfillment agencies involved in this Sweepstakes or any other individual or company involved in the development or execution of the Sweepstakes (individually and collectively, “Sweepstakes Entities”); or (ii) a Household Member or Immediate Family Member of anyone falling within category (i). “Household Members” shall mean people who share the same residence at least three months a year whether or not related. “Immediate Family Members” shall mean parents, stepparents, children, stepchildren, siblings, stepsiblings, or spouses.

HOW TO ENTER: An Entrant will automatically receive one (1) entry in the Sweepstakes random drawing when Entrant completes one (1) or more Tasks promoted in conjunction with the Sweepstakes. Tasks can be, but not limited to the following examples:

● Take a financial Health Assessment

● Sign up for Insights CSM

● Check your student loan rate.

Sponsor reserves the right, to (a) award additional entries for any given Task at various times throughout the Sweepstakes Entry Period; and (b) incorporate additional Tasks (if offered) throughout the Entry Period. Use of any automated, robotic, or similar methods or agents to participate in the Sweepstakes is prohibited and will result in disqualification. Mechanically reproduced Entries will be disqualified along with all Entries associated with the disqualified Entry or Entries. Sponsor is not responsible for lost, late, garbled, damaged, illegible, incomplete, inaccurate, or misdirected entries. All Entries submitted become property of the Sponsor, receipt of which will not be acknowledged.

WINNER SELECTION AND NOTIFICATION: Potential winner (“Winner”) will be selected via a random drawing on or about August 1, 2022 by the Administrator whose decisions are final and binding. Winner will be notified by email within three (3) business days after the random drawing by the Administrator and will be required to: (a) execute and return an Affidavit of Eligibility & Release of Liability, and where permissible, a Publicity Release (collectively the “Affidavit”), and (b) complete and submit a W-9 Form (collectively, “Winner Verification Documents”) within five (5) days of the date specified on the email notification, or an alternate Winner may be selected at Sponsor’s sole discretion. If winner is an eligible minor in his/her state of residence, a parent or legal guardian will be required to complete and return all required documents on minor’s behalf. If an email notification is returned as undeliverable, or if Winner fails to submit his or her complete Winner Verification Documents within the time allocated, or if Winner cannot accept the prize for any reason, or if he or she is not in compliance with these Official Rules, Winner will be disqualified, and the prize may be awarded to an alternate Winner at the Sponsor’s sole discretion.

PRIZE DETAILS: One (1) Grand Prize will be awarded. Winner will receive two (2) concert tickets to the The Weeknd After Hours Til Dawn Tour at SoFi Stadium (1001 Stadium Dr, Inglewood, CA 90301) on Saturday, September 3, plus a $2,500 travel stipend. Approximate retail value (“ARV”) of Grand Prize: $5,000. Grand Prize winner must accept prize in its entirety or forfeit all rights to prize. Prize does not include any form of transportation to/from concert, hotel or lodging accommodations, meals or any other incidentals or expenses, all of which are Winner’s sole responsibility. Travel stipend is for winner’s use to purchase/secure air (or ground) travel and hotel accommodations in Los Angeles. Travel stipend will be awarded as a corporate check. Upon fulfilling Prize, the Sponsor will be deemed to have fulfilled the prize.

Winner and guest will be provided more details on prize, including the concert’s commencement time, when she or he is notified by Sponsor or its agent. If a Winner is deemed an eligible minor, a parent or legal guardian must accompany Winner as his or her guest. Prize is non-assignable or transferable and cannot be substituted with another prize. All prize details are at the Sponsor’s sole discretion. Concert tickets will not be replaced if lost or stolen, and cannot be resold, offered for resale, or used for any commercial or promotional purpose whatsoever.

Winner and his or her guest agree to comply with all applicable concert venue regulations in connection with the prize. The concert venue reserves the right to remove or to deny entry to the winner and/or any guest who engage in a non-sportsmanlike or disruptive manner or with intent to annoy, abuse, threaten, or harass any other person at the concert. The Sponsor will not be responsible for weather conditions; acts of God; acts of terrorism; civil disturbances; local, state, or federal regulation, order, or policy; work stoppage; epidemic, pandemic, or any other issue concerning public health or safety; or any other event outside of their control that may cause the cancellation or postponement of, or the restriction of the concert. Admission to concert venue is subject to all rules, requirements, and policies, including, without limitation, all security, conduct, and safety and health requirements and policies, put in place by venue, including requirements relating to face masks and enhanced health screenings (which may include a requirement that ticket holders be tested for COVID-19 prior to or during the concert or provide proof of full vaccination against COVID-19 prior to attending the concert) as they may be updated from time to time. The winner and guest must also comply with all applicable laws, policies, orders, protocols, and guidelines issued by federal, state, and local authorities respecting COVID-19 and other communicable diseases, and concert attendance is conditioned on such compliance.

Winner acknowledges that the concert is beyond the control of the Sponsor and is subject to being rescheduled, modified, or canceled. In the eventuality the concert is postponed or canceled, no compensation or substitution will be provided, and the Sponsor shall have no further obligation to the Winner other than to supply the $2,500 travel stipend minus the concert tickets. Winner and guest are responsible for obtaining proper documentation (i.e., valid photo ID, proof of vaccination, etc.), prior to travel. Guest must be 18 or older and will be required to execute and return a Liability/Publicity Release prior to travel. Except where prohibited by law, entry and acceptance of prize constitute permission for Sponsor and its agents to use Winner’s name, prize won, hometown, likeness, video tape, photographs, and statements for purposes of advertising, promotion, and publicity (including online posting) in all media now or hereafter known throughout the world in perpetuity, without additional compensation, notification, or permission. Furthermore, Sponsor and/or its agents may film, record and/or take photographs of the winner and guest before/during/after the concert, and may use the resulting footage, recordings, or photographs for a range of purposes, including, without limitation, for marketing and promoting Sponsor and/or its promotion partners/agents and their respective products and services. No additional compensation will be provided for any resulting footage.

ODDS: Odds of winning are dependent on the total number of eligible Entries received during the Sweepstakes Entry Period.

CONSENT AND RELEASE: To the fullest extent possible in law, Entrants, on behalf of themselves and on behalf of their respective heirs, executors, administrators, legal representatives, successors and assigns (“Releasing Parties”), release, defend and hold harmless the Sweepstakes Entities (the “Released Parties”) from any and all actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, lost profits, indirect or direct damages, consequential damages, incidental damages, punitive or exemplary damages, judgments, extent, executions, claims and demands whatsoever, in law, admiralty or equity, whether known or unknown, foreseen or unforeseen, against Released Parties which any one or more of the Releasing Parties ever had, now have or hereafter can, shall or may have which in any way arise out of or result from Entrant’s participation, acceptance and use or misuse of prize (if Entrant is determined the Winner). The Sponsor is not responsible for any typographical or other error in the printing of the offer, administration of the Sweepstakes or in the announcement of prize. In the event Sponsor is prevented from continuing with the Sweepstakes as contemplated herein by any event beyond its control, or otherwise, including but not limited to fire, flood, earthquake, pandemic, explosion, labor dispute or strike, act of God or public enemy, satellite or equipment failure, riot or civil disturbance, terrorist threat or activity, war (declared or undeclared) or any federal, state, or local government law, order, or regulation, or order of any court, or other cause, Sponsor shall have the right to modify, suspend or terminate the Sweepstakes. Furthermore, the Sponsor reserves the right to terminate the Sweepstakes if it becomes technically corrupted (including if a computer virus or system malfunction inalterably impairs its ability to conduct the Sweepstakes), and to determine the Winner from among all eligible Entries received prior to termination. Entrants assume all liability for any injury, including death or damage caused or claimed to be caused, by participation in this Sweepstakes or use or redemption of the prize (if Entrant is determined to be the Winner).

ARBITRATION: TThis Sweepstakes shall be governed by and interpreted under the laws of the State of California, U.S.A. without regard to conflicts of law provisions. Entrants hereby agrees that any and all disputes, claims, causes of action, or controversies (“Claims”) arising out of or in connection with this Sweepstakes shall be resolved, upon the election by Entrant or Sponsor, by arbitration pursuant to this provision and the code of procedures of either the National Arbitration Forum (“NAF”) or the American Arbitration Association (“AAA”), as mutually agreed upon by both parties. IF ARBITRATION IS CHOSEN BY ANY PARTY WITH RESPECT TO A CLAIM, NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM IN COURT OR HAVE A JURY TRIAL ON THAT CLAIM. FURTHER, NEITHER SPONSOR NOR ENTRANT WILL HAVE THE RIGHT TO PARTICIPATE IN A REPRESENTATIVE CAPACITY ON BEHALF OF THE GENERAL PUBLIC OR OTHER PERSONS SIMILARLY SITUATED, OR AS A MEMBER OF ANY CLASS OF CLAIMANTS PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION. EXCEPT AS SET FORTH BELOW, THE ARBITRATOR’S DECISION WILL BE FINAL AND BINDING. NOTE THAT OTHER RIGHTS THAT ENTRANT WOULD HAVE IF ENTRANT WENT TO COURT ALSO MAY NOT BE AVAILABLE IN ARBITRATION. ANY CLAIMS, JUDGMENTS AND/OR AWARDS SHALL BE LIMITED TO ACTUAL OUT-OF-POCKET COSTS ASSOCIATED WITH ENTERING THIS SWEEPSTAKES. ENTRANT HEREBY WAIVES ANY RIGHTS OR CLAIMS TO ATTORNEY’S FEES, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ENTRANT, WHETHER FORESEEABLE OR NOT AND WHETHER BASED ON NEGLIGENCE OR OTHERWISE. The arbitrator’s authority to resolve Claims is limited to Claims between Sponsor and Entrant alone, and the arbitrator’s authority to make awards is limited to awards to Sponsor and Entrant alone. Furthermore, claims brought by either party against the other may not be joined or consolidated in arbitration with Claims brought by or against any third party, unless agreed to in writing by all parties. No arbitration award or decision will have any preclusive effect as to issues or claims in any dispute with anyone who is not a named party to the arbitration.

By participating in this Sweepstakes, each Entrant expressly waives and relinquishes all rights and benefits afforded by California Civil Code 1542 and does so understanding and acknowledging the significance of this waiver. Section 1542 states as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DID NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN, BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR THE RELEASED PARTIES.”

GENERAL: Each Entrant is subject to all notices posted online, including but not limited to Sponsor’s privacy policy as being referred to in the Personal Information & Privacy Section hereof. In the event of a dispute as to any Entry, the authorized account holder of the email address used to register such Entry will be deemed to be the Entrant. The “authorized account holder” is the natural person assigned an email address by an Internet access provider, online service provider or other organization responsible for assigning email addresses for the domain associated with the submitted address. Winner may be required to show proof of being the authorized account holder to be determined exclusively by the Sponsor’s and/or its agent in their sole discretion.

The Sponsor is not responsible for (i) error, omission, interruption, deletion, defect, delay in operations or transmission, theft or destruction or unauthorized access to or alterations of Entry materials, or for technical, network, telephone equipment, electronic, computer, hardware or software malfunctions of any kind, or inaccurate transmission of or failure to receive Entry information by Sponsor on account of technical problems or traffic congestion on the Internet or at any website or any combination thereof; (ii) any injury or damage to Entrant’s or any other person’s computer related to or resulting from participating in the Sweepstakes; or (iii) the failure of any third party to comply with the instructions and proper administration of this Sweepstakes. By participating in the Sweepstakes, Entrants (i) agree to be bound by these Official Rules, including all eligibility requirements, and (ii) agree to be bound by the decisions of Sponsor and the Administrator, which are final and binding in all matters relating to the Sweepstakes. Sponsor reserves the right at its sole discretion to disqualify any individual that tampers or attempts to tamper with the entry process or the operation of the Sweepstakes or web site or violates these Official Rules. LEGAL WARNING: ANY ATTEMPT BY AN INDIVIDUAL, WHETHER OR NOT AN ENTRANT, TO DELIBERATELY INTERFERE WITH THE OPERATION OF THE SWEEPSTAKES, IS A VIOLATION OF CRIMINAL & CIVIL LAWS AND SPONSOR RESERVES THE RIGHT TO SEEK DAMAGES AND DILIGENTLY PURSUE ALL REMEDIES AGAINST ANY SUCH INDIVIDUAL TO THE FULLEST EXTENT PERMITTED BY LAW.

WINNERS LIST: For the name of the Winner (available after August 15, 2022) send a stamped, self-addressed envelope (postage not required for Vermont residents) for receipt by August 15, 2022 to: SoFi at Work Summer Concert Sweepstakes Winner’s Name, c/o Social Finance, LLC, 234 1st Street (Attn: SoFi at Work), San Francisco, CA 94105.

PERSONAL INFORMATION & PRIVACY: By entering the Sweepstakes, the information Entrants provide may be sent to promotional partners. Entrants may be contacted by the Sponsor and/or any promotional partners with future promotional offers. Information provided by Entrants to participate in this Sweepstakes is subject to Sponsor’s privacy policy located at www.SoFi.com/privacy-policy.

SPONSOR: Social Finance, LLC, 234 1st Street, San Francisco, CA 94105.

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School Loans for Healthcare Students | SoFi


Health Professions Loans

Grad student
loans for medical and
health professions.

SoFi supports your educational goals through
graduate school, and your financial well-being, so
you can focus on what matters.


View your rate

Unlike with other lenders, viewing your rate with SoFi will NOT affect your credit score.


New! Cash bonus for good grades.

Up to $2503 with GPAs 3.0 or higher.


Learn more




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Now with a nine-month grace period.

We get it. After graduating school in a health field, you’ll be thinking about helping people, getting a job, and maybe even moving—anything but paying back student loans. So, SoFi gives you nine full months before you have to start paying.


View your rate

Unlike with other lenders, viewing your rate with SoFi will NOT affect your credit score.

Medical school loans for every kind of healthcare professional.

We’ve been passionate about supporting future professionals since the very beginning, and we’re just getting started. Let us support you as you go from a low-rate graduate student loan to a future of financial stability.

  • All online. All easy.

    Finish our fast and easy online application in minutes—and add a cosigner in just a few clicks. Apply even faster for your next loan with our fast track application, which will have most of your info conveniently pre-filled.

  • No fees required. No fuss.

    No fees required means no fees required. That means no origination fees, no late fees, and no insufficient funds fees. Period.

  • Competitive rates.

    You’re ambitious and probably competitive–much like our rates. Our student loans with competitive rates and flexible term options for business school can help you in the next stage of your education.

  • Exclusive member benefits.

    SoFi members can qualify for exclusive rate discounts. You’ll get access to financial advisors, networking events, and more—all at no extra cost.

Medical student loan rates.

Fixed

3.18% – 14.83% APR*

with all discounts

Variable

4.39% – 15.86% APR*

with all discounts



Not sure which to choose?

Learn more →

Please borrow responsibly.

SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours.

Repay med school loans your way.

Pick the repayment option that works for you and your budget.

Deferred

Start paying principal and interest payments nine months after you leave school.

  • No payments while in school
  • Highest overall cost option

Interest only

Pay only interest payments while you’re in school.

  • Moderate payment while in school
  • Reduces overall cost

Partial

Pay a $25 fixed monthly payment while you’re in school.

  • Lowest payment option while in school
  • Reduces some of the overall cost

Immediate

Start paying principal and interest payments right away.

  • Highest payment option while in school
  • Lowest overall cost option


View repayment examples

How to apply for private medical school loans from SoFi

  • 1

    Apply online in just minutes.

    Get your rate fast and find out if you’re pre-qualified
    before you even finish the full application. Seamlessly add
    a cosigner in just a few clicks.

  • 2

    Select your rate and repayment option.

    Choose from fixed or variable rates.
    Then, pick from four repayment options.

  • 3

    Sign and accept your loan.

    Upload screenshots of your info, sign your paperwork
    electronically, and voilà—your work is done!
    We’ll handle it from here.


View your rate

BTW it’s a soft inquiry, so it won’t affect your credit score.

Health professions loan FAQs


How long can I defer the health profession loan? Can I defer payments until I’m done with school?
If you choose the deferred repayment option for graduate student loans, full principal and interest payments would begin nine months after the student graduates or drops below half-time enrollment. To learn how different repayment options can affect your monthly payment amount and what you might pay overall for the loan, check out our repayment options and examples page.


How long does the application process take? How quickly can I get my loan?

You can apply and get a credit decision within minutes. If approved, you would then need to accept your terms and electronically sign your loan documents. At that point, we send the loan application information to the school for certification. During this process, schools verify your enrollment status, academic progress, and your financial aid package. Every school has their own processes and timelines, so certification can take several days or sometimes weeks. Once we receive the certification back from the school, we’ll schedule the funds to be sent according to the school’s requested timeline. The entire process from application to actually sending the money to the school typically takes at least 4-6 weeks, but it can be shorter or longer than that depending on the school.



What is a health professions loan?

A health professions loan is a type of private student loan specifically tailored for students pursuing education in health-related fields. These loans are intended to assist with various educational expenses including tuition, fees, living expenses, and other necessary costs associated with completing a health professions program. This financial support is crucial for students who are preparing for careers in healthcare and need help covering the significant expenses of their education.



What are the benefits and drawbacks of health professions loans?

SoFi health profession loans are designed to support your educational goals through graduate school. SoFi health profession loans have flexible rate and term options, and an extended grace period of nine months so that you can focus on what matters.
However, SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours.



What are the interest rates and fees for health professions loans?

The interest rates and fees for health professions loans can vary depending on the lender and the specific terms of the loan. You can see SoFi’s interest rates for health professions loans on this page. Generally, these loans offer competitive interest rates, which can be either fixed or variable. Fixed rates remain the same throughout the life of the loan, providing predictability in payments, while variable rates can fluctuate with market conditions, potentially lowering initial payments but introducing uncertainty in future costs.
In terms of fees, many lenders charge fees for their health professions loans—including origination fees, late fees, or insufficient fund fees. However, SoFi offers health profession loans with no fees at all.


What information do I need to apply?

  • Social Security number or Tax Identification Number (TIN) are required from all borrowers all the time
  • Proof of income: You may be required to provide proof of income if SoFi is not able to validate it automatically. We could use something similar for gov’t id.
  • Government-issued ID
  • Student’s school information (student’s estimated graduation date and academic term)
  • Loan amount (how much you’d like to borrow)
  • Financial aid you expect to receive
  • Do you already have a private student loan with SoFi? We’ll use your past application to pre-fill as much information as possible in your new application




How do I repay a health professions loan?

Repaying a health professions loan involves several options and features designed to accommodate the unique financial situations of those in the health professions. Typically, borrowers can choose from multiple repayment plans, which may include fixed or variable interest rates and different terms that can affect the monthly payment amount and total cost of the loan.
One of the key benefits of health professions loans is the grace period. This is a stretch of time after graduation—SoFi offers a grace period of nine-months—during which borrowers are not required to make payments. This can provide crucial financial relief as new graduates transition into their careers, possibly relocating or studying for licensing exams. Understanding these features and planning accordingly can help manage the repayment process more effectively, ensuring that it aligns with personal financial situations and career developments.



How much can I borrow with a health professions student loan?

The amount you can borrow with a health professions student loan typically depends on several factors, including the cost of attendance at your chosen institution and your specific financial needs. Generally, these loans are designed to cover the full cost of your education, which can include tuition, fees, living expenses, and other necessary costs. However, the exact amount available can vary by lender and may be influenced by your credit history and other financial circumstances. It’s important to consult with the specific lender to understand their borrowing limits and ensure that the loan amount will meet your educational expenses.



I don’t see my school listed in the application. What does that mean?

SoFi’s eligible school list consists of most public and private, degree-granting institutions.



Can I get student loan forgiveness for a health professions loan?

Yes, there are several programs and initiatives that offer student loan forgiveness or repayment assistance for health care workers who have taken out health professions loans. Programs like the National Health Service Corps provide loan repayment assistance to healthcare professionals who work in underserved areas. Similarly, the Public Service Loan Forgiveness program is available to those who work in public service jobs, including certain healthcare positions, and make consistent payments on their loans for a set period. Additionally, the National Institutes of Health (NIH) Loan Repayment Programs offer to repay a portion of student loan debt for qualified researchers in biomedical or biobehavioral research fields. Each of these programs has specific eligibility requirements and conditions, so it’s important for borrowers to thoroughly research and understand these options to take full advantage of available loan forgiveness opportunities.


See more FAQs

Get started in minutes.

Find your loan rate in just a few clicks.


View your rate

BTW it’s a soft inquiry, so it won’t affect your credit score.


Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student’s at least half-time enrollment in a degree program at a SoFi-participating school and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. View payment examples. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 12/16/25 and is subject to change.

* Interest Rates: Eligibility and Important Details. Fixed rates range from 3.18% APR to 14.83% APR with all discounts. Variable rates range from 4.39% APR to 15.86% APR with all discounts. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 6/1/23 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.



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Level Up: SoFi Checking & Savings Raises APY for All Members

Today, SoFi Checking & Savings is thrilled to help people earn more off their hard-earned money by raising our annual percentage yield (APY) for all members. Members with direct deposit will now earn 1.25% APY¹ on their balances, which is 41 times the current national average². For members without direct deposit, all balances will now earn a competitive 0.70%, 23x the national average³.

For SoFi direct deposit members, they will now earn more in interest in 9 days at SoFi than they would at other banks in an entire year. Notably, SoFi allows members to earn interest on their funds whether they are sitting in a checking account for upcoming bills or tucked away in savings for a rainy day. Additionally, SoFi has removed the $50,000 cap on account balances, which means that members can earn 1.25% APY on every dollar in their checking and savings accounts.

To help people kick start funding their accounts, SoFi is offering a $300 cash bonus for new members who sign up and set up direct deposit or existing members who set up direct deposit before May 31, 2022⁴.

Interested in earning more? Sign up for SoFi Checking & Savings. Already a member? Set up your SoFi direct deposit.


1 SoFi members with direct deposit can earn up to 1.25% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 0.70% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 1.25% APY is current as of 04/05/2022. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet

2 41x based on FDIC monthly interest checking rate as of March 21, 2022.

3 23x based on FDIC monthly interest checking rate as of March 21, 2022.

4 The following describes the terms that apply to participation in the SoFi the SoFi Checking and Savings direct deposit program (“Program”) offered by SoFi Bank, N.A Member FDIC(“SoFi”).

Eligible Participants: All new members who open a SoFi Checking and Savings account during the Promotion Period and all existing SoFi Checkings and Savings customers who have not previously set up Direct Deposit transactions (“Direct Deposit”) into their SoFi Checking and Savings account as of the beginning of the Promotion Period are eligible for the Program.

Promotion Period: The Program will be available from 4/5/22 12:01AM ET to 5/31/22 11:59PM ET.

Bonus Terms: 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).

Evaluation Period: 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-$1,999 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.

Total Qualifying Direct Deposit amount in 30-day Evaluation Period

Cash bonus

$1,000 – $1,999 $50
$2,000 – $4,999 $100
$5,000 or more $300

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

This offer cannot be combined with the SoFi Checking and Savings Direct Deposit rate discount on a SoFi personal loan. Bonuses are considered miscellaneous income, and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time.

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