SoFi Checking & Savings: $650 Bonus & Up to 3.80% APY
SoFi's Checking and Savings account offers a lucrative bonus opportunity alongside competitive interest rates. Currently, the promotion boasts a potential $650 bonus, achieved by combining SoFi's $300 offer with additional bonuses from partner programs like InboxDollars or Rakuten, which have offered up to $375 in rewards in the past. The bonus structure from SoFi itself is tiered, awarding $50 for $1,000-$4,999 in qualifying direct deposits within 30 days and $300 for $5,000 or more. Qualifying deposits are strictly defined as ACH deposits from employers, payroll, or benefits providers; other deposit methods do not qualify. Referral bonuses can add an extra $25. The account also features an attractive interest rate of up to 3.80% APY for those with direct deposits and 1.00% APY for those without. However, this APY is variable and subject to change. While the initial article mentioned a higher 4.60% APY in previous updates, the current rate is lower. The source highlights past promotional periods with varied bonus amounts and partner offers, demonstrating the dynamic nature of such deals. Risks include the possibility of the bonus structure changing and the variable nature of the APY. It's crucial to read the fine print and understand the eligibility requirements before participating. The SoFi Checking and Savings account replaces the former SoFi Money account, and the current promotional offers are a compelling incentive for new customers.
(Source: https://dannydealguru.com/sofi-checking-savings-250-bonus/)
