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Contents
The Offer
- SoFi Loan is offering a bonus of up to $1,000. Must complete the application with SoFi before 1/31/21:
- Student loan: up to $1,000 and $100 if you find a better deal elsewhere
- Personal loan: $20 when you check your rate
- Home loan bonus of up to $1,000
Our Verdict
Similar to the deals offered in November but no personal loan bonus this time. A lot of people turned the personal loan deal into an easy profit, so I suspect that’s why it’s not being offered this time.
Hat tip to bankbonus
View Comments (31)
Checked the rate for a home loan on Jan. 30. Did live chat today. Rep said I should receive $20 bonus within 30 days. Interesting how some folks receive the bonuses right away and others have to wait. I'm also still waiting on the $599 bonus for taking out a personal loan last month.
I did the SOFI personal loan bonus twice already (once for $350 in Jan 2021 and another for $599 in Jan 2022).
As it turns out, I might also be in the market for new home loan after we downsize (if we buy instead of rent after selling our current home).
Has anyone done the SOFI $1000 for a purchase loan? How'd it go?
The terms are a little confusing to me. I can apply by 1/14/22. However, what has to happen by 1/31/22?
The terms say you have to lock your rate by 1/31/22, which I think means you need to have a purchase contract signed by 1/31/22. That's already a no-go for me. Maybe they will extend the promo though.
I believe they do a 45-day rate lock, so that means for this promotion, your home purchase would have to close by mid-march at the latest to maintain your rate lock.
After getting tons of gift cards mailed to me last year for checking rates on various loan types, I was able to check my rate on a personal loan for P1-P3 today. $20 was almost instantly deposited into each of our SoFi Money accounts. Make sure you go through the promo page first, then login to your account to check your rate.
I at first logged into my account, then clicked through the promo page, and the $20 never showed up for me that way. I tried the offer again on a different browser (Chrome and Edge work well for this, avoid Safari) after deleting my first application, and I finally got the $20 soon after. Not sure that this offer will be churnable this year like it was last year.
I've tried this twice and gotten nothing. The first time, the loan officer told me I would get an email from a third-party about the gift card. Never got anything. This time, a few weeks ago, I went all the way to the "your rates" screen and backed out. That counts as "check your rate" right? I've gotten nothing. How far into the process did you go? Maybe I am doing it wrong.
I also did the same and I stopped at the "your rates" screen, but got nothing for a few days. So I contacted SoFi in online chat, and the agent said I fulfilled the requirements and filed a ticket. Then the $20 bonus showed up in my account in about 2 days. @guest_1326259
Offer by email today - $599 bonus on a personal loan. No requirements other than having a SoFi money account.
P2 got this email too. But not seeing where to click or apply for the offer. Figuring it should be easy to get the loan, pay off most of it, get bonus, then pay off rest to minimize interest/maximize bonus
To apply, just click on the view my rate button in the personal loan $599 bonus section of the email.
From all the DPs I've seen, you can immediately pay off the loan (immediately after funding of the loan) even before the bonus posts. However, since this is a new offer, might be best to do as you suggest to be safe. Unfortunately, my P2 likely won't want to apply to this offer as she isn't interested in doing bonus offers like these usually.
Yeah, this looks like a great offer!
P2 got this offer today as well. P1 already did the $20 check your rate and I didn't proceed with the loan yet by finishing the application. P1 didn't get the email. I chatted with SOFI to see if this $599 offer can be applied to my existing application in process. They asked for screenshots of the email and then said they will follow-up via email with info on whether it can be applied or not. I told them it was my wife that got the offer but that she is a stay-at-home mom and best to apply under my account (since the income is in my name).
I already did the $350 personal loan bonus in Jan 21 though, so that might work against me if they see that (esp.since I paid the loan off last time immediately in a day and paid almost no interest). Anyhow, can't hurt to ask and hope for the best.
So it's $250 on student loans under $75,000. Anyone know if you can only refinance a portion of your student loans, and if there's any minimum? Has anyone tried just refinancing only $250 of your loans to cancel out that amount with the bonus? Or even less, just to earn a nice cash bonus?
Looks like the minimum to refinance is $5k:
https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SLR-Product-Page-Module_Bonus-Offer.png
hmm checked got declined an nothing yet in my account, is it for new customers only?
Tried checking my rates but it said I could not be approved for a loan at this time. Not sure why. I did the personal loan promotion a month ago
Personal Loan one was easy to get. Easy Money. Others I would shop rates on if you are considering doing.
$20 showed up super quick into my SoFi Money account after checking my rates.
Ugh. I was hoping the personal loan offer would come back.