In this article, we are breaking down all of the lucrative promotions that are being run by SoFi and how you can take advantage of them! Anywhere from free stock when you sign up to getting money back when you sign up for a loan, we’ve got them all.
Before we get too far, it’s important to learn what SoFi is and how it differentiates itself from the large mass of robo-advisers and broker-dealers.
Let’s start off with one that will get everyone excited. The chance to win up to $1,000 in free stock when you download the SoFi app and open an active investing account.
It’s just as simple as that. When you download the SoFi app and fill in the proper information, you will be pleasantly surprised to see a free stock sitting in your account.
This type of promotion is fairly common in the world of broker-dealers but is one we simply couldn’t ignore.
The referral program at SoFi is second to none in that it is so easy to win. SoFi offers referral bonuses for you and your friends if you sign up for SoFi Money, Active Investing, Student Loan Refinancing, or Personal Loans.
So far, more than $10M has been paid out to SoFi users for sharing their unique referral codes. Through sharing your codes, you could earn up to $10K. However, there are some rules and stipulations.
Rules like the following keep people from gaming the system: ‘Only one referral reward and one welcome bonus per new customer. You will not receive multiple referral bonuses for the same friend taking out multiple loans or products, nor will your friend receive multiple welcome bonuses for taking out multiple loans or products.’
However, there is still money to be made by using SoFi’s referral program. Here are the details:
When your friend signs up with SoFi using your specific referral link, you will both be rewarded. Your friend will log onto the app and see over 100 of the platform’s most popular stocks like Amazon and Tesla. By choosing one of these, they will see a Stock Bit worth $50 of that stock. That is a pretty generous offer.
This of course, does not come without a cost. In order to get the $50 of free stock, the user must first deposit $1,000 in their first deposit. The referrer will then be subsequently rewarded with a stock prize as well of $50.
Launched in February of 2019, SoFi Money is a way for people to bring their money needs full circle by managing their cash through SoFi Money. SoFi thinks it’s so great that they are willing to pay you to use it.
Users are eligible to receive up to $100 with SoFi Money when they set up direct deposit. It’s as easy as the following three steps:
With SoFi, users can receive a bonus of $300 by signing up for a loan. This can be in the form of student loan refinancing or personal loans. Loan amounts for this referral vary from $5,000 on the low end to $100,000 on the high.
If you happen to refer someone to SoFi for a personal loan, you and your friend will both get $300! Personal loans can be for a new home, medical bills, relocation costs, and even credit card consolidation.
Remember that one of SoFi’s purposes is to help those in need refinance their student loans to lower interest rates. Personal debt should not be used as a means to solely receive bonuses.
When you make your first trade of $10 or more with SoFi’s new crypto investing arm, you will get $10 in Bitcoin! The $10 bonus will be set to appear in your account within 7 days of your completion of the required tasks.
This is an awesome reward for those thinking that the true future of the financial system is in the hands of the digital security giants.
Users who transfer their existing brokerage accounts to SoFi may be eligible for a transfer bonus. To be eligible you must:
SoFi is an all-in-one personal finance company. Otherwise known as Social Finance, SoFi has its hand in mortgage lending, personal financial advising, stock brokering, crypto trading, loan refinancing and so much more. With all those perks, it’s pretty easy to see how SoFi has amassed a user base of over 1M!
Most of SoFi's products that deal with investing and asset management are free to use. This is an incredible advantage because users can save all that money that they would have otherwise spent in fees and use it to make even more money. SoFi has certainly set the bar high when it comes to tools and features that are available to its 1M members.
SoFi is basically the swiss army knife of personal finance and with all those features comes great rewards for members. This article is dedicated to how you can make money through the promotions that SoFi has to offer.
One of the reasons that SoFi has such a great spread of promotions is because SoFi offers so many neat and useful features. SoFi is one of the very few financial firms that offer a full suite of products to help you improve your financial standing.
These promotions are great if you are already in the market to switch up where you bank or are looking to get a loan for a specific purpose. However, it is important that you do not let promotions be your only deciding factor. Do the proper research on the potential firm and then let the promotion be the icing on the cake!