SoFi Checking & Savings: $700 Bonus & Up to 3.80% APY

SoFi's Checking and Savings account offers a lucrative bonus and high-yield interest. Currently, the bonus structure involves multiple promotional paths, leading to a potential $700 bonus. One path involves combining SoFi's $300 bonus (requiring $5,000 or more in qualifying direct deposits within 30 days) with a Rakuten offer, potentially reaching $375 or more. Other promotional partners like InboxDollars and MyPoints have also offered additional bonuses in the past. Referral links provide an additional $25, maximizing potential earnings. The account boasts a variable interest rate, reaching up to 3.80% APY for users with direct deposit and 1.00% APY without. There are no balance caps for interest accrual. Qualifying direct deposits are strictly defined as those from employers, payroll, or benefits providers via ACH. Other deposit methods, such as P2P transfers or merchant transactions, do not count. The bonus is paid within 14 days of the evaluation period's end. While the current highest bonus is $700, previous offers have been lower, demonstrating the fluctuating nature of these promotions. The article highlights the importance of checking for updated offers and using referral links for maximum returns. It also emphasizes that SoFi replaced its SoFi Money account with this Checking and Savings option. The author concludes by promoting the use of bank bonuses as a means of supplementary income and provides links to additional resources for exploring bank account bonuses and strategies.

(Source: https://dannydealguru.com/sofi-checking-savings-250-bonus/)