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The Offer
Targeted offer sent out via e-mail. Subject line is ‘Get up to $5,000 with SoFi Invest®’
- SoFi invest is offering a 1% bonus when you fund your SoFi Invest account up to a maximum of $5,000.
The Fine Print
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- To receive the bonus, the Active Invest account must have net deposits (meaning total deposits minus total withdrawals) of $100 to $500,000 in the offer period.
- The offer period is between now and June 30, 2020
- . The max bonus payout per user is $5,000.
- All bonuses will be paid within 5 business days of the conclusion of the offer period.
- Net deposits are required to remain in the account for 90 days following the conclusion of the offer period.
- SoFi reserves the right to recoup up to the bonus amount from any withdrawals that take place prior to the 90 day period.
- 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 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.
Our Verdict
Last month some people were targeted for a similar deal but that was 3% up to $10,000. This obviously isn’t as good as that deal, but it’s still insanely good when compared to other brokerage bonuses. For example Chase offers a $725 bonus if you deposit $250,000. That would net you $2,500 with this deal.
Hat tip to all the readers who sent this in
