[Expired] SoFi Loan: Up To $1,000 Bonus (Personal, Student & Home Loans)

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The Offer

Direct link to offer

• SoFi Loan is offering a bonus of up to $1,000. There are four separate loans. Must register by 11/30 and complete the application with SoFi before 12/14:
  • Student loan refinancing bonus of up to $500 (Your existing student loan(s) must total a minimum of $5,000 to be eligible for refinancing)
  • Personal loan bonus of up to $500
  • Home loan bonus of up to $1,000
  • Mortgage Refinance bonus of up to $1,000

The Fine Print

• $500 SoFi Student Loan Refinancing Bonus Offer: Terms and conditions apply. Offer is subject to lender approval, and not available to residents of Ohio. The offer is only open to new SoFi Student Loan Refinance borrowers. To receive the offer you must: (1) register and apply through the unique link provided by 11:59pm ET 11/30/21; (2) complete and fund a student loan refinance application with SoFi before 12/14/21; (3) have or apply for a SoFi Money account within 60 days of starting your Student Loan Refinance application to receive the bonus; and (4) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, your $500 welcome bonus will be deposited into your SoFi Money account within 30 calendar days. If you do not qualify for the SoFi Money account, SoFi will offer other payment options. Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state, or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. SoFi reserves the right to change or terminate the offer at any time with or without notice.
• $500 SoFi Personal Loan Bonus Offer: Terms and conditions apply. Offer is subject to lender approval, and not available to residents of Ohio. The offer is only open to new SoFi Personal Loan borrowers and may not be combined with other offers aside from the autopay discount, direct deposit discount, and direct pay discount. To receive the offer, you must: (1) register and apply through the promotion link for a SoFi Personal Loan by 11:59pm EST 11/30/21; (2) complete and fund a personal loan application with SoFi before 11:59pm EST 12/14/21; (3) have or open a SoFi Money account within 60 days after starting a personal loan application; and (4) meet SoFi’s underwriting criteria. Once conditions are met, your $500 welcome bonus will be deposited into your SoFi Money account within approximately 30 calendar days after earning the bonus. If you do not qualify for the SoFi Money Account, SoFi will offer payment via ACH transfer pending completion of a W9 form. Bonuses that are not redeemed within 60 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. SoFi reserves the right to change or terminate the offer at any time with or without notice.
• $1,000 SoFi Home Loan or Mortgage Refinance Bonus Offer: Terms and conditions apply. Offer is subject to lender approval, and not available to residents of Ohio. The offer is only open to new SoFi Home Loan and Mortgage Refinance borrowers and may not be combined with other offers with the exception of the $500 mortgage processing fee discount. To receive the offer, you must: (1) register and apply through the promotion link for a SoFi Home Loan or Mortgage Refinance by 11:59pm EST 11/30/21; (2) lock your home loan or mortgage refinance rate with SoFi before 11:59pm EST 12/14/21 and fund your home loan or mortgage refinance; (3) have or open a SoFi Money account within 60 days after starting a home loan application; and (4) meet SoFi’s underwriting criteria. Once conditions are met, your $1,000 welcome bonus will be deposited into your SoFi Money account within approximately 30 calendar days after earning the bonus. If you do not qualify for the SoFi Money Account, SoFi will offer payment via ACH transfer pending completion of a W9 form. Bonuses that are not redeemed within 60 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. SoFi reserves the right to change or terminate the offer at any time with or without notice.

Our Verdict

We’ve seen the $500 personal loan deal before, but it was targeted. People have been able to do similar personal loan deals by only paying $5 in fees and interest by taking out a small loan and paying it back. These will all result in a hard pull, but definitely worth it for a relatively easy $500 if you can minimize the taxes and fees.

If considering the other loans, make sure you rate shop to ensure you’re getting the best rate as the $500/$1,000 will be quickly eaten up by higher fees/rates.

Hat tip to reader Michael