SoFi Invest $50 free stock offer expires today 10/31, Sofi Money rate now 1.60% APY as of 10/31. SoFi (“Social Finance”) is expanding from students loans into a cash management and stock brokerage account. Both are competitive and modern app-first products, but enter a crowded field. To get your attention, they are offering two easy $50 bonuses to try them out, and if you have a spouse/partner, you can refer each other to grow the total bonus pot up to $350. I just opened one and the bonus showed up by the next day.

SoFi Money (Cash Management Account)

  • Get a $50 cash bonus when you fund your account with at least $100. That is my SoFi Money referral link. The referrer gets $100. You don’t have to do anything else but wait for your bonus to arrive in a day or so. There is no set expiration date on this offer, so it could end at any time.
  • After joining, if you refer a friend yourself, you will get $100 and they will also get the $50 bonus. That means a couple together can earn a total of $200.
  • FDIC-insured. No account fees. No minimums.
  • Unlimited reimbursed ATM fees.
  • Currently pays 1.80% APY.

SoFi Invest (Brokerage Account)

  • Get a $50 of your choice of stock when you fund your account with at least $100. That is my SoFi Invest referral link. The referrer gets $50. This is double the standard $25 bonus, but ends 10/31.
  • After joining, if you refer a friend yourself, you will get $50 and they will also get the $50 in free stock. That means a couple together can earn a total of $150 value.
  • SoFi Invest allows fractional shares (“stock bits”), so you can get exactly $50 worth of Apple, etc. Trade as little as $1 at a time.
  • No trading fees.

An excerpt of the terms is below, and the way I read it, you can get one Money bonus and one Invest bonus since SoFi Invest and SoFi Money are different accounts. If so, a couple could earn $350 altogether. I could be wrong and in that case I would do the SoFi Money bonus first as it is bigger. The easiest place to find the referral links to refer others is in the SoFi app.

Only one Money Referral Bonus and one Money Welcome Bonus will be awarded for each referred Eligible Money Recipient, regardless of whether the Eligible Money Recipient opens and funds multiple accounts. An Eligible Money Referrer will not earn a Money Referral Bonus if the Eligible Money Recipient has or had an existing funded SoFi Money account, or does not use the unique referral link provided by the Eligible Money Referrer.

Only one Invest Referral Bonus and one Invest Welcome Bonus will be awarded for each referred Eligible Invest Recipient, regardless of whether the Eligible Invest Recipient opens and funds multiple accounts. An Eligible Invest Referrer will not earn an Invest Referral Bonus if the Eligible Invest Recipient has or had an existing funded SoFi Invest account or does not use the unique referral link provided by the Eligible Invest Referrer.

Here’s a screenshot of some of the stock choices given. Getting $50 guaranteed of the stock of your choice is better on average than getting a free share worth up to $1,000 but probably only worth about $10. (Of course, I just got both…)

You can also get a $100 bonus if you refinance your student loans through SoFi.

SoFi does try to deliver on their “Social” claim by hosting free member events around the country. For example, they are hosting a free brewery tour + tacos tasting at Blue Owl Brewing in Austin, Texas on November 7th. By opening one of these accounts, you become a member and thus free beer and food!

I don’t see anything groundbreaking about either of these accounts, but the good news is that SoFi makes the opening process quick and simple. You can open, apply, fund online and be poking around the app all in the same day. They also don’t require you do to keep the money in there for months or move assets over.

Bottom line. SoFi is offering cash and free stock bonuses for trying out their new products. They can quickly add up to easy money for a minor amount of effort.

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SoFi Money $50 Cash Bonus / SoFi Invest $50 in Free Stock from My Money Blog.


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