SoFi Blog

Transfer Boost Promo

Frequently Asked Questions

How do I qualify for the 6-month 4.30% APY boost?

To qualify, you’ll need to (1) enroll by clicking the special link we sent you by 10/24, and (2) make a single qualifying transaction of $3K or more into your SoFi Checking & Savings account – which SoFi must receive by 12/24. Once your qualifying transaction posts, your savings APY will automatically increase by 0.70% for 6 months, as long as you maintain SoFi Plus status during this period. Note: make sure you click on the link BEFORE you transfer funds.

Which “Qualifying Transaction” deposit types are eligible?

The following are eligible deposit types. Make sure you make a single deposit/transfer of $3K or more.

•  ACH transfer (including direct deposit)

•  Inbound wire transfers

•  Mobile check deposit.

The following are not eligible funding sources:

•  Transfers between an account holder’s SoFi Checking account, SoFi Savings account, Vaults and/or SoFi Invest accounts

•  Peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder)

•  Interest payments or bonuses

•  Credits, reversals, and refunds from SoFi Bank or from a merchant

•  Instant funding to your SoFi Bank Debit Card

•  Push payments to your SoFi Bank Debit Card

•  Cash deposits

How do I enroll for the campaign?

It’s simple—just click the special link we send you by 10/24. You’ll be taken to the “Transfer Money” page, and by logging in and visiting that page, you’re automatically enrolled. Note: make sure you click on the link BEFORE you transfer funds.

Who is eligible for the campaign?

This offer is available only to existing members who received a direct communication from SoFi. If you didn’t receive the offer from SoFi, you’re NOT currently eligible for this campaign.

Do I need to do anything after I make my “Qualifying Transaction”?

Nope! Once you click the link and make your qualifying transaction during the required periods, you’re automatically enrolled. Your boosted rate will be applied to your savings balance within a few days and last for 6 months, as long as you remain in SoFi Plus.

When will I see the boosted rate?

After you click the link, make your qualifying transaction (SoFi must receive it by 12/24), and your deposit posts, you’ll start earning the boosted rate on your savings balance. The boosted rate is effective for 6 months from that date, as long as you maintain SoFi Plus.

What happens after the 6-month boost ends?

After 6 months, your APY will return to SoFi’s then-current variable rate for SoFi Plus members. You’ll still continue earning a highly competitive APY—no action required on your end.

Terms and Conditions

Participating SoFi Plus Members can earn up to 4.30% Annual Percentage Yield (APY) with a limited-time 0.70% APY Boost to the current Savings APY of 3.60% (rate current as of 11/12/25). Rates are variable and subject to change.

SoFi Targeted Balances APY Boost Promotion Terms

The following terms and conditions (the “Terms”) apply to the SoFi Targeted Balances APY Boost Promotion (the “Promotion”), which allows Eligible Members (as defined below) to receive a 0.70% annual percentage yield (“APY”) boost to the APY earned on their SoFi Savings account (the “0.70% APY Boost”) for up to 6 months by completing the required actions described below.

Promotion Period:
10/10/25 at 12:00 a.m. E.T. – 12/24/25 at 11:59 p.m. E.T.

Who is eligible for the Promotion?

This Promotion is available by invitation only. It is open to existing SoFi Checking and Savings members who are enrolled in SoFi Plus as of 10/3/2025 and who have received a targeted invitation for this Promotion (“Eligible Members”) from SoFi. Members who did not receive a direct promotional communication from SoFi for this offer are not eligible.

What qualifying activities do I need to complete to earn the 0.70% APY Boost?

In order to receive the 0.70% APY Boost, you must complete all of the following qualifying activities:

1.   Enroll in the Promotion between 10/10/25 and 10/24/25 by clicking the unique link in your targeted promotional communication from SoFi and logging into your SoFi account. You must click and enroll by 10/24/25 11:59 PM ET.

2.   Make a single Qualifying Transaction (as defined below) of $3,000 or more into your SoFi Checking or Savings account. The Qualifying Transaction must be received by SoFi and post to your account no later than 12/24/25 11:59 PM ET.

3.   After making your single Qualifying Transaction, maintain your SoFi Plus status, for the entire 6-month Boost Period (as defined below).

What is a “Qualifying Transaction”

Qualifying Transaction means a single deposit into your SoFi Checking or Savings account from an external source via one of the following eligible methods: (i) ACH transfers (ii) inbound wire transfers, and (iii) mobile check deposits (a “Qualifying Transaction”).

Qualifying Transactions DO NOT include: (i) transfers between an account holder’s SoFi Checking account, SoFi Savings account, Vaults and/or SoFi Invest accounts; (ii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder); (iii) interest payments; (iv) bonuses issued by SoFi Bank or its affiliates;(v) credits, reversals, and refunds from SoFi Bank or from a merchant; (vi) instant funding to your SoFi Bank Debit Card; (vii) push payments to your SoFi Bank Debit Card; and (viii) cash deposits. SoFi shall, in its sole discretion, determine whether a transaction meets the definition of “Qualifying Transaction” for purposes of this Promotion.

When will I begin earning the 0.70% APY Boost?

Once you have completed all qualifying activities described above, you will begin receiving the 0.70% APY Boost on your Savings account balances by the following business day after your single Qualifying Transaction posts to your account.

How long will I earn the 0.70% APY Boost?

You will continue to receive the 0.70% APY Boost for a period of up to 6 months (the “Boost Period”), provided that you maintain SoFi Plus for the full Boost Period.

As long as you receive an Eligible Direct Deposit or pay the SoFi Plus Subscription Fee every 30 calendar days, you will remain enrolled in SoFi Plus. See the SoFi Plus Terms and Conditions for additional details.

During the Boost Period, if you lose your SoFi Plus status for any period, you will not earn the 0.70% APY Boost for that period. Your rates will revert to the standard rates set forth on the SoFi Bank Rate Sheet at https://www.sofi.com/legal/banking-rate-sheet. However, you will be eligible to receive the 0.70% APY Boost again during the remainder of the Boost Period by re-enrolling in SoFi Plus.

Additional Important Terms:

•  The 0.70% APY Boost may not be combined with other promotional rates.

•  Promotion is non-transferable and limited to one 0.70% APY Boost per account.

•  Each SoFi Joint account can only receive one boost.

•  SoFi reserves the right to exclude any members from participating in this Promotion for any reason, such as suspected fraud, misuse, or suspicious activity. SoFi also reserves the right to modify, suspend, or terminate the Promotion at any time without notice.

•  Standard rates are variable and subject to change at any time. There is no minimum balance requirement to earn standard rates. Fees may reduce earnings. For current rates and additional disclosures, please see: https://www.sofi.com/legal/banking-rate-sheet.

When the economy feels this unpredictable, you want to hope for the best but brace for the worst. And that means being financially prepared for whatever happens.

One of the best ways to prepare is to have an emergency savings — a buffer that can tide you over in case you lose your job or something else goes awry. The general rule of thumb is to have enough set aside to cover at least three to six months’ worth of living expenses.

But how many Americans actually have that much? Fewer than half, according to a Bankrate survey taken in May. In fact, 24% have no emergency savings at all, and another 30% have less than three months’ worth, the survey showed.

An earlier survey from the Transamerica Center for Retirement Studies suggests a similar level of vulnerability. The median (aka typical) emergency savings among U.S. workers is just $5,000, the survey showed — an “alarmingly low” amount in the view of the Transamerica researchers.

Of course, $5,000 may be enough for folks with a relatively low cost of living. But the average American spends more than that in just one month ($5,030 as of the second quarter of 2025 , according to the Bureau of Economic Analysis,) suggesting many people are falling well short of the recommended amount of emergency savings. Just 26% of the surveyed workers have $15,000 or more stashed away, while 17% have nothing at all saved.

Although your capacity to weather a financial setback is a higher priority when fears of an economic downturn are rising, having a cash reserve can protect you from the financial strain of any unexpected event — an emergency room visit, surprise car repairs, or a broken furnace. Without it, you might have to rely on less desirable alternatives such as a high-interest loan or drawing on your retirement funds.

Emergency savings are also critical for peace of mind.

“Research shows that having cash to cover the unexpected has the biggest impact on financial stress, anxiety, and satisfaction,” said Brian Walsh, a Certified Financial Planner® and SoFi’s Head of Advice & Planning.

So what? Building a healthy and readily-accessible emergency fund is one of the most effective steps you can take toward financial security. Beyond being good practice, it can become a lifeline. To guide you on the ideal amount, use a calculator like SoFi’s. And don’t worry if you haven’t started yet – it’s never too late.

Related Reading

Experts Now Recommend a 12-Month Emergency Fund (MarketWatch via MSN)

An Essential Guide to Building an Emergency Fund (Consumer Financial Protection Bureau)

Should You Ever Invest Your Emergency Fund? (SoFi)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM20250926SW

Test your knowledge of topics covered in the past week’s newsletters. Can you get a perfect score?

{/* Crypto Sweepstakes LP 9/24 */}
{/* wwww.sofi.com/crypto-sweepstakes/ */}

{/* Hero */}

Join the waitlist

^*NO PURCHASE OR QUALIFYING TRANSACTION NECESSARY. Open only to legal residents of the 50 US/DC, 18+. Void where prohibited by law. Sweepstakes includes 2 phases: Sign-Up Phase starts 10/15/25 at 9 a.m. ET and ends at 11:59 p.m. ET on 11/30/25; Entry Phase starts 12/1/25 at 12 a.m. ET and ends at 11:59 p.m. ET on 1/31/26. You must participate in both phases to enter. See Official Rules for free entry method, prize details, limits, and odds: click here. Sponsor: SoFi Bank, N.A. (“SoFi Bank”), 2750 E Cottonwood Pkwy #300, Cottonwood Heights, UT 84121.

{/* How to get your chance */}

{/* Crypto at SoFi: Seamless and easy to use */}

Crypto at SoFi: Seamless and easy to use.

Join the waitlist

{/*FAQs*/}

Top questions and answers

How to use:

1. Retrieve the Party ID
2. Select the Preference Name
3. Click “Update Preference” to make the API call
4. View results and API call log below
5. Access https://www.sofi.com/preference-center/user/preferences to confirm the preference changes