Statement of Financial Condition
SoFi Invest: SoFi Invest refers to the two investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA(www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of SoFi Digital Assets, LLC, please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Bank, N.A..
*NOTICE: If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circ*mstances.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should alwaysconsider their appropriateness given your own circ*mstances.
Notice: SoFi’s Refinance Loan is a private student loan. Understand that when you refinance federal loans, you forfeit all flexible federal repayment options that are or may becomeavailable to federal student loan borrowers. If you expect to incur financial hardship that would affect your ability to repay, you should consider federal consolidation loan options.
Student Loan Refinancing: Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKETCONDITIONS AND BORROWER ELIGIBILITY. Your existing student loan(s) must total a minimum of $5,000 to be eligible for refinancing. Additional terms and conditions may apply. To qualify,a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., have graduated with an associate degree or higher from an eligible Title-IV-accredited college or graduateprogram, and meet SoFi’s pre-established underwriting requirements, including verification of sufficient income to support your ability to repay; see SoFi.com/eligibility. Lowest rates reservedfor the most creditworthy borrowers. You may pay more interest over the life of the loan if you refinance with an extended term. SoFi refinance loans are private student loans and donot have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE.Information current as of 9/7/23 and subject to change. SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). SeeSoFi.com/legal for state-specific license details.
Private Student Loans: Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi PrivateStudent loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student’s at leasthalf-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in theU.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility formore information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. Thisinformation is current as of 9/7/23 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aidoptions before you consider any private loans, including ours. Read our FAQ.
Personal Loans: Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrowermust be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. SoFi Personal Loans can be used for any lawful personal, family, orhousehold purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. Additional terms and conditions may apply. Lowest rates reserved forthe most creditworthy borrowers. The average of SoFi Personal Loans funded in 2022 was around $30K. Information current as of 9/7/23. SoFi Personal Loans originated by SoFi Bank, N.A.Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details.
Home Loans and Mortgage Refinancing: Terms and conditions apply. Before you apply for a SoFi Mortgage, please note that not all products are offered in all states, and all loans aresubject to eligibility restrictions and limitations, including requirements related to loan applicant’s credit, income, property, and loan amount. Minimum loan amount is $75,000. Lowest ratesare reserved for the most creditworthy borrowers. Products, rates, benefits, terms, and conditions are subject to change without notice. Learn more at SoFi.com/eligibility-criteria.Information current as of 9/7/23. SoFi Mortgages originated through SoFi Bank, N.A., NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org). Equal Housing Lender. SoFi Bank, N.A.is currently NOT able to accept applications for refinance loans in NY.
SoFi Checking and Savings: SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to licenseby Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of MastercardInternational Incorporated.
SoFi Credit Card: Accounts subject to additional credit approval. To qualify for approval, you must meet SoFi’s pre-established underwriting requirements, including verification of sufficientincome to support your ability to pay. We will not extend you credit if you do not meet our pre-established criteria. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTSAND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. If approved for a SoFi Credit Card, your credit access line will be at least $1,000. Youreligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by SoFi Bank, N.A., as issuer, pursuant to license by Mastercard®International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard InternationalIncorporated. Please allow up to 30 days from date of submission to process your application. The card offer referenced in this communication is only available to individuals who are at least18 years of age (or of legal age in your state of residence), and who reside in the United States.
SoFi Relay: SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
Insurance: Insurance coverage and pricing is subject to eligibility and underwriting criteria. See terms and conditions at SoFi.com/online-insurance.
SoFi Travel: Terms, and conditions apply. The SoFi Travel Portal is operated by Expedia. To learn more about Expedia, click About Expedia. When you use your SoFi Credit Card to make a purchase on the SoFi Travel Portal, SoFi will give you a number of SoFi Member Rewards points equal to 3% of the total amount you spend on the SoFi Travel Portal. Members can save up to 10% plus on eligible bookings.
Eligibility:
You must be a SoFi registered user.
You must agree to SoFi’s privacy consent agreement.
You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia’s website or app, or any other site operated or powered by Expedia is not eligible.
You must pay using your SoFi Credit Card.
SoFi Member Rewards: All terms applicable to the use of SoFi Member Rewards apply. To learn more please see: https://www.sofi.com/rewards/Terms applicable to Member Rewards: https://www.sofi.com/terms-of-use/#rewards
Additional Terms:
Changes to your bookings will affect the Rewards balance for the purchase.
Any canceled bookings or fraud will cause Rewards to be rescinded.
Rewards can be delayed by up to 7 business days after a transaction posts on Members’ SoFi Credit Card ledger.
SoFi reserves the right to withhold Rewards points for suspected fraud, misuse, or suspicious activities.
1 SoFi Checking and Savings/SoFi Credit Card SoFi Stadium Cash Back Rewards Program:
New and existing SoFi Checking and Savings® Debit Card and Samsung Money by SoFi members can earn 25% cash back rewards on all eligible purchases at SoFi Stadium until 3/31/2040 11:59 PT. Cash back is earned in the form of rewards points. Game tickets, event tickets, purchases made outside of SoFi Stadium, and purchases at traveling merchants not affiliated with SoFi Stadium such as food trucks or traveling merchandise vendors are not eligible for this promotion. SoFi will credit members who meet qualification criteria within 10 calendar days. SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time. No opt in required. All purchases on food, beverage, or merchandise on your SoFi Checking and Savings Debit Card while you are inside the stadium qualify to earn 25% cash back. A maximum of 12,500 rewards points, corresponding to a maximum spend of $500, can be earned from this limited-time offer. 12,500 rewards points are worth $125 when redeemed for cash deposited into your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, as a statement credit to your SoFi Credit Card account, or as a payment to your SoFi Personal Loan, Private Student Loan or Student Loan Refinance. SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a register
2 SoFi Checking and Savings/SoFi Credit Card SoFi Stadium Bag Check Reimbursem*nt:
New and existing SoFi Checking and Savings®, SoFi Money®, and Samsung Money by SoFi members are eligible for reimbursed bag check at SoFi Stadium until 3/31/2040 11:59PM PT. All members who use their SoFi Checking and Savings®, SoFi Money®, and Samsung Money by SoFi Debit Card to pay for bag check will receive 100% reimbursem*nt in the form of 2,000 reward points. 2,000 rewards points are worth $20 when redeemed for cash deposited into your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, as a statement credit to your SoFi Credit Card account, or as a payment to your SoFi Personal Loan, Private Student Loan or Student Loan Refinance. SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time. No opt in required.
SoFi Money® is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A. SoFi Money Debit Card issued by SoFi Bank, N.A.
*SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/23. There is no minimum balance requirement. Additional information can be found at https://www.SoFi.com/legal/banking-rate-sheet.
† Our account fee policy is subject to change at any time.
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