SoFi Checking & Savings bonus: up to $400

Updated November 5, 2026 · Offer data last verified 2026-11-05 · Not financial or tax advice.

SoFi pays a one-time Direct Deposit Bonus of $50 or $400 into SoFi Checking. The promotion runs from 5/15/2026 through 12/31/2027, and SoFi must receive your first eligible direct deposit on or before 12/31/27.

Bonus tiers

Total eligible direct deposits in 25 days	Bonus
$1.00 – $999.99	$0
$1,000.00 – $4,999.99	$50
$5,000.00+	$400

From SoFi's banking page. The 25-day window starts with your first eligible direct deposit of $1 or more.

How the 25-day window works

Once SoFi recognizes your first eligible direct deposit, it adds up all eligible direct deposits over the next 25 calendar days. That total sets the bonus. SoFi says it pays within 7 business days of completing the requirements, and you must have an open SoFi Checking account in good standing at payment. Practical tip (our suggestion, not SoFi's): if you get paid twice a month, time the switch so two or more paychecks land inside the 25 days.

Who qualifies

New and existing SoFi members who have never set up direct deposit with SoFi. One bonus per member. On joint accounts, only the primary holder's direct deposit activity counts.

The separate APY boost

SoFi also advertises a 1.10% APY boost for up to six months for members new to SoFi Checking and Savings who receive eligible direct deposit or $5,000 in qualifying deposits every 31 days (promotion period 10/20/2026–12/31/2027). That's a rate promotion, not part of the cash bonus. Rates are variable.

Fees and taxes

Our data records no monthly account fees (No account fees). Bank bonuses are generally reported as interest; see are bank account bonuses taxable?

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General information only. This isn't financial or tax advice. Offers change or end without notice, and the official terms always govern. Confirm everything on the provider's page before you act. See our disclaimer.

Official page read on 2026-10-31: official terms ↗.

FAQ

How much is the SoFi checking bonus?

$50 with $1,000–$4,999.99 in eligible direct deposits, or $400 with $5,000 or more, counted over 25 days from your first eligible direct deposit.

When does the SoFi bonus end?

SoFi's page says the promotion runs through 12/31/2027 at 11:59 PM ET.

Can existing SoFi members get the bonus?

Yes, if they have never set up direct deposit with SoFi. One bonus per member.

How fast does SoFi pay the bonus?

Within 7 business days of completing the requirements, per SoFi.