SoFi revised its SoFi Plus membership benefits in an update detected on August 18, 2026. The 1% match promotion on investment account deposits was restructured: the holding requirement changed from maintaining SoFi Plus membership for one continuous year to maintaining deposits in the account for five years; the promotional period shifted from March 31, 2026 through indefinite termination to August 18, 2026 through indefinite termination; and the match can now be combined with a limited-time 1% Deposit Match Offer available August 18-31, 2026. A cancellation fee that previously applied if membership lapsed within one year was removed, replaced by a requirement to maintain deposits for five years to retain the full match amount. The savings account interest tiers remain unchanged at 4.50% APY on balances up to $20,000 and 3.10% on higher balances.
Consumers: Instead of keeping your membership active for one year, you now must keep your deposit in the account for five years to receive the full 1% match.
Consumers: SoFi removed the explicit cancellation fee structure, but members who withdraw deposits within five years will forfeit the match through the holding requirement instead.
The updated terms establish a new holding structure for the SoFi Plus 1% investment match benefit. Previously, members needed to maintain SoFi Plus membership for one continuous year from each deposit settlement to retain the match; the updated terms now require deposits to remain in the investment account for five years to retain the full match amount. The promotional period for this benefit restarted on August 18, 2026 and now runs through an unspecified termination date set by SoFi. Early withdrawal or account closure within the five-year period will result in loss of the match amount, though SoFi removed the explicit cancellation fee language in favor of forfeiture through the holding requirement. A limited-time 1% Deposit Match Offer available August 18-31, 2026 can now be combined with the main benefit if qualifying deposits and holding periods are independently satisfied for each offer.
→ Review whether deposits already made under the prior one-year membership requirement are grandfathered under old terms or subject to the new five-year holding requirement.
→ If planning to deposit into the SoFi Invest match promotion by August 31, 2026, confirm understanding that deposits will be subject to a five-year holding period to retain the full 1% match.
→ If you have a pending SoFi Plus membership decision, assess whether the five-year deposit lock aligns with your liquidity needs before initiating the match promotion.
This is the 3rd significant Payout Terms Change change SoFi has made since ConductAtlas began monitoring.
ConductAtlas has recorded 10 material changes to this document over 92 days of monitoring (since May 2026). An additional minor or cosmetic changes were excluded.
Across all monitored documents, SoFi has made 18 significant changes.
12 of SoFi's significant changes have been classified as negative for consumers.
Extended from one-year SoFi Plus membership requirement to five-year deposit retention in the account; cancellation fee language removed in favor of match forfeiture through holding period.
Restarted from August 18, 2026 (previously March 31, 2026); end date left to SoFi's sole discretion.
Added explicit permission to combine main 1% match with limited-time 1% Deposit Match Offer available August 18-31, 2026, provided each offer's qualifying deposits and holding requirements are independently satisfied.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
SoFi restructured a core benefit of its SoFi Plus membership product, shifting the enforcement mechanism from subscription continuity (1-year membership requirement) to asset retention (5-year deposit holding). This change materially alters the operational risk profile …
Regulatory exposure, obligation change, escalation trigger, board-ready language, and recommended action for legal and compliance teams.
Unlock the full institutional analysis — InsightConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-004474.
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