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Amazingly, the 2024 checking and savings bonus is up to $325 (up to $300 direct deposit bonus + $25 referral bonus), which you can access by using this link. When you click on the link, check terms/conditions to confirm qualification. I am not sure how long this bonus will be available as I received a much lower bonus when I signed up.
I have 6 high yield savings accounts (obsessive I know), and which is my favorite account based on yield, mobile experience and sign up bonus?
SOFI is the clear winner!
SOFI’s account has been my favorite due to the impressive mobile user experience AND good yield. I have been moving more funds into this account, and I provide the details on my other high yield savings account in my review below.
This is quite a bit better than then $200 maximum I believe I received, so this may be on the higher or highest end of this bonus, but I am not sure. I’ll explain later my understanding of how the bonus works.
How Bonus Period Works:
My understanding is that the bonus period starts the day that SOFI receives your first direct deposit, and then you have 25 additional days. So, if your direct deposit pay is $2700 on November 30th and my second direct deposit is $2700 on December 15th, that should equate to $5400 within the 25 days after November 30th.
The only negative with this method is if you got something like $4800 monthly because you may then only get the $50 cash bonus. It’s still better than nothing, but a big discrepancy of $250.
My SOFI Banking Review
I have my main bank account with Chase, and then I have 6 high yield savings accounts with Barclays (4.35%), E-Trade (4.25%), CIT Bank (4.9%), etc., so you can imagine that I wasn’t ready to open a new high yield savings account with SOFI bank(4.6%). While the yield is slightly higher at CIT Bank, I haven’t care d for the mobile experience.
That said, I have been capivated by the awesome promo code the sign up bonus and SOFI’s interest rate of 4.6%.Needless to say, I have been IMPRESSED by SOFI’s technology. It actually feels like a bank from 2023 (not like most other banks that have so many technical issues and very limited functionality).
I was also elated that SOFI offered legitimate promo codes, which I am quite annoyed and bummed that I did not get one when I signed up. It makes sense to me because they have a great product – people are going to refer to friend.
Again, you can access the checking and savings bonus information by using this link.
Let’s cover other bonus offers that may be interesting to you!
Other SOFI Bonus Offers
SOFI Investing Promo Code
This one is fun. If you use this link, you can get $50 free in stock. I feel this is way better than Robinhood’s “free stock” program where you can get a stock worth up to $1000. When I tried that out, I got a FitBit stock worth $6. I am not even sure that company is still listed?
SOFI Personal Loans Promo Code
If you use this link and take out a SOFI personal loan, you can get up to a $300 bonus after your loan funds.
SOFI Student Loans Coupon Code
If you use this link and take out a SOFI student loan to consolidate your student loans, you can get up to a $300 bonus after your loan funds.
Conclusion
SOFI has taken it up a notch with amazing promo codes that can get you cash back on things such as opening a checking & savings account, investment accounts, consolidating debt, etc.
I have been really happy about my SOFI user experience, so I am happy to recommend this product to friends and family.
