SoFi Checking and Savings bonus: up to $400 and what it takes

How to earn it

1. Open SoFi Checking and Savings online.
2. Receive direct deposits within 25 days of the first one that add up to the amount for your tier: $1,000 for $50 or $5,000 for $400.
3. Wait for the bank to pay the bonus. Its terms say when it pays once you meet the requirements.

Day counts follow the bank's terms, which say when each period starts.

Payments that count differ by bank: what counts as a direct deposit.

When the bank pays. SoFi pays within 7 business days after you complete the requirements.

The 25 day window starts with your first eligible direct deposit, not with opening, and that first deposit must arrive by December 31, 2026. SoFi counts recurring ACH deposits of regular income such as pay, a pension or government benefits from an employer, a payroll or benefits provider or a government agency.

The calculator counts one month of direct deposits for this offer, the 25 days rounded up. Only what arrives in those 25 days counts toward the tier, so the $400 tier needs $5,000 inside that stretch.

Existing SoFi members qualify if they have never set up direct deposit with SoFi. One bonus per member, and on a joint account only the primary holder's deposits count. SoFi reports the bonus on Form 1099-MISC.

The 3.30% APY on the offer page needs direct deposit, and a footnote on the same page gives a lower savings rate. Check the rate on SoFi's page before you count on it.

The numbers

Bonus

Up to $4002 tiers, from $50.

Cash to park

None

Direct deposits

$1,000 in total for $50, $5,000 in total for $400Within 25 days of the first one.

Annual rate

None: no cash to parkThe rate measures the bonus against cash you park. This tier asks for none.

Interest on the account

3.30% APYAs the bank showed it on October 6, 2026. Rates change; the calculator counts it on the parked cash.

Monthly fee

None

Early closure

Not published

Tax form

Form 1099-MISCAs the terms name it.

Guides to these figures: how the annual rate is calculated, monthly fees and how to avoid them and early closure fees and clawbacks.

Who can get it

For

Personal accounts

Customers

Not limited to new customers in the terms

Where

No state limit in the termsThe bank decides at application

Minimum age

Not published

Before you apply: how often you can earn a bonus from one bank and whether opening an account affects your credit.

Source

Checked against the bank's own page on October 6, 2026.

Read the offer on SoFi's page (opens in a new tab)

Bonus Tally may earn a commission when you open an account through links on this page. It never changes the math or the ranking.

Pages we read

• Offer page on www.sofi.com, read October 6, 2026

• Banks change and end offers without notice. Confirm every term on the bank's own page before you apply.
• Bank bonuses are generally taxable as interest income, and banks usually report them on Form 1099-INT. Are bank bonuses taxable has the detail.
• Bonus Tally is an information service, not a bank or a financial adviser. Nothing here is financial, tax or legal advice.

The verification log lists every offer with its source, and the methodology gives every formula.