I think I get it but was hoping someone could confirm. Is the current SoFi deal you get $250 if you open an account and put in $5000 min for 25 days? And then it’s a 3.75% internet rate as well

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The $250 bonus is if you have $5000 of direct deposit in 25 days, and the timer doesn't start until your first direct deposit hits. You can't just deposit 5k from another account (although supposedly there are some accounts where Sofi will mistakenly think it's a DD). And yes it's 3.75% interest. Also you get an extra $25 bonus if you use a referral (feel free to DM for one).

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Yes. I told my SO about this bonus offer and he used my referral link. He also had to clarify this with a Sofi rep. Has to be $5k in DD within 25 days and the clock starts with the first DD- not the time you open the account.

Also, Sofi is really good at detecting if an ACH xfer is from another bank. I tried to do this in place of changing all my DD accounts but the interest rate didn’t budge until I finally set up DD with Sofi & workplace.

Another thing I love about SoFi.. my pay day is tomorrow but my direct deposit hit my account Friday night.

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It’s whatever it says in the fine print. So pretty much just make sure your monthly direct deposits add up to > 5K for the first 2 deposits

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helpful

As for the 3.75% interest rate, as long as you have a direct deposit set up, you qualify for it

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helpful

Yeah

Any amount of a direct deposit will qualify for the 3.75% savings rate. Checking account rate is 2.5%, but that's not a big deal to many because moving money between the savings and checking is instantaneous.

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