*Eligibility SoFi customers (“members”) may be eligible for a Member Rate Discount on certain loan types if they meet the eligibility criteria and any other applicable terms and conditions. SoFi reserves the right to discontinue or modify the Member Rate Discount at any time and without notice. Such changes or modifications will only apply to applications begun after the effective date of the change. If you’ve got questions about how we do our thing, we’ve got answers in our FAQs.
SoFi Loan Account Holders SoFi members with an existing or prior SoFi Home Loan, Personal Loan, Student Loan Refinance, or SoFi Private Student Loan product who take out a new loan of a different product type may be eligible to receive a 0.125% Member Rate Discount on that new loan. To be eligible for the Member Rate Discount Program, members must meet the following criteria:
1) The member must be in good standing with their current and prior SoFi loans;
2) the member has never been 60 or more days past due on a current and prior SoFi loan;
3) the member has not been 30 or more days past due more than once on a current or prior SoFi loan; and
4) the member was never in forbearance on a SoFi loan.
The Member Rate Discount is only offered on new loans of a different type from loans previously or currently held by members, thus it would not apply to another loan of the same type, and does not apply more than once per product. For example, an existing or prior SoFi Personal Loan borrower is not eligible to receive the Member Rate Discount on a second SoFi Personal Loan.
SoFi Money® or SoFi Checking and Savings Account Holders SoFi Money® or SoFi Checking and Savings Account Holders members with no SoFi loan accounts are eligible to receive the Member Rate Discount on a new SoFi Personal Loan, Student Loan Refinance, or SoFi Private Student Loan if they have an account balance of greater than $0 at the time of the application for the new loan. SoFi Money® or SoFi Checking and Savings Account Holders members with no SoFi loan accounts are currently not eligible to receive the Member Rate Discount on a SoFi Home Loan.
SoFi Invest Account Holders SoFi Invest members with no SoFi loan accounts are eligible to receive the Member Rate Discount on a new loan if the member’s existing SoFi Invest account meets minimum balance criteria described below at the time of the application for the new loan. SoFi Invest members are eligible to receive the Member Rate Discount on a SoFi Personal Loan, Student Loan Refinance, or Private Student Loan if they have a minimum balance of $10,000 in their SoFi Invest accounts at the time they begin their loan application.
SoFi Invest members are eligible to receive the Member Rate Discount on a SoFi Home Loan if they have and maintain a minimum balance of $50,000 in their SoFi Invest accounts at the time they begin their SoFi Home Loan application.
The umbrella term “SoFi Invest” refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below:
1) Automated Investing: The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth”). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing: The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) SoFi Crypto trading is made available via SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
0.50% Combo Rate Reduction Terms and Conditions:
1Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account, or from SoFi Money®. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account or SoFi Money. Enrolling in autopay is not required to receive a loan from SoFi.
2Direct Deposit: 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.
SoFi Money is offered through SoFi Securities LLC. The SoFi Money Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi ® Checking and Savings offered by SoFi Bank, N.A.
3Terms and conditions apply. Offer good for new personal loan customers with credit cards in their name only and subject to lender approval. To receive the offer, you must: (1) register and/or apply through this landing page; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) meet SoFi’s underwriting criteria; (4) apply 50% or more of your loan proceeds directly to your creditors. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount. Offer good for new customers only. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice. It takes about 3 business days for your credit card lender to receive payment after your loan is signed. You will be responsible for making all required payments to avoid credit card fees.
^ Existing eligible SoFi Members must either (1) be in good standing with their current and prior SoFi Home Loan, Personal Loan, Student Loan; (2)or maintain a minimum balance of $10,000 in their SoFi Invest account; (3) or have an open SoFi Checking and Savings or SoFi Money account with a minimum balance of $0; (3)and take out a new loan of a different product type than they currently have, can receive a 0.125% Interest Rate Discount on that new Personal or Student loan (home loans are not eligible for interest rate or auto pay discounts).
To be eligible for this discount, member must be in good standing with their current and prior SoFi loans. SoFi reserves the right to change or terminate either of these discounts at any time with or without notice. For complete terms and eligibility, please visit SoFi.com/legal#MemberRateDiscount.
✝To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.