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Robinhood is offering new users 1 free stock worth between $3 and $225 when you open an account and fund it with any amount of money.
Written by Logan Robison on February 9, 2021
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SoFi Free Promotions 2021: Free Stock, Transfer, Referral Bonus

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.

SoFi Active Investing Sign Up Bonus - Up to $1,000 in Free Stock

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.

Odds of Winning Free Stock on SoFi Invest

  • $1,000 odds are 0.028%
  • $100 odds are 1.662%
  • $25 odds are 3.324%
  • $10 odds are 9.498%
  • $5 odds are 85.488%

SoFi Invest Referral Program Promotion

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:

Active Investing Referral Bonus

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.

SoFi Money Bonus

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:

  1. Deposit $250 into your account for a cash bonus of $25
  2. Enable direct deposit from your employer totaling more than $500 directly into your account and you’ll earn another $75

sofi money

SoFi Loan Bonus

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.

sofi personal loan

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.

SoFi Crypto Bonus

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.

SoFi Transfer Bonus $25 to $2,500

Users who transfer their existing brokerage accounts to SoFi may be eligible for a transfer bonus. To be eligible you must:

  • Transfer your existing brokerage account to SoFi Active Invest
  • Bonus ranges from $25 to $2,500 depending on your account value
  • $.01 to $19,999 bonus $25
  • $20,000 to $99,999 bonus $125
  • $100,000 to $249,999 bonus $250
  • $250,000 to $499,999 bonus $500
  • $500,000 to $999,999 bonus $1,000
  • $1 million + bonus $2,500

SoFi Platform Overview

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.

Conclusion: SoFi Promotions & Sign-Up Incentives

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!

Best Free Stock Promotions

BrokeragePromotionLink
Robinhood Logo1 Free Stock (Up To $225)Download
Webull Logo2 Free Stocks (Up To $1,850)Download
Firstrade trading platform2 Free Stocks (Up To $400)Download
M1 Finance Robo AdvisorGet $30 When You Deposit $1,000Download
Acorns LogoFree $10 BonusDownload

SoFi free promotions sign up bonus
Article written by Logan Robison
Logan graduated with a degree in finance from Brigham Young University and currently works as a financial analyst for a large retailer. In his free time he loves to hike and camp with his wife and son. Logan is also heavily involved in real estate investing and owns rental properties in Utah and Arkansas.

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