Version history

SoFi restructured the footer section of its Terms of Service, replacing a simple 'QUESTIONS?' heading with an expanded navigation menu listing SoFi's products, company information, and legal links. The previous footer included customer support phone numbers and a detailed product listing; the updated footer removes the phone numbers and replaces the entire structure with a reorganized product and company directory, ending with a subscribe prompt and confirmation language about SoFi's Privacy Policy and Arbitration Agreement.

SoFi modified its SoFi Plus investment match promotion in an update detected on August 18, 2026. The prior offer required SoFi Plus membership for one continuous year; the revised terms eliminate this requirement and instead require deposits to remain in the account for five years to retain the full 1% match. The prior offer also included a 'cancellation fee' (full forfeiture of the match) if subscription was canceled within one year; the updated language removes the cancellation fee structure and replaces it with a five-year holding requirement. SoFi also expanded the definition of eligible accounts from 'taxable accounts' to 'non-retirement accounts' and added a limited-time complementary 1% deposit match offer (August 18-31, 2026) that can be combined with this promotion.

SoFi updated its referral promotion terms in an update detected on August 5, 2026. The promotion period shifted from June 24 – August 4, 2026 to August 5 – September 30, 2026. More significantly, the minimum deposit requirement for the Standard Bonus increased from $50 to $500, and the SoFi Plus Additional Bonus now requires that the $10/month payment be processed and validated by SoFi within the 21-day eligibility window, whereas previously the subscription alone satisfied the requirement.

SoFi revised its SoFi Plus Savings account interest structure, effective August 3, 2026. Previously, the terms stated that a 3.10% APY applied to portions of SoFi Plus Savings balances that did not earn the higher rate. The updated language now explicitly describes a tiered-rate system where SoFi Plus members' highest APY applies to up to $20,000 in their Savings account, including balances in Vaults, with 'incremental interest' (the difference between the highest and lower rates) credited to the Savings account even if the earning balance is held in a Vault. This clarifies how interest accrual and crediting operate across tiered accounts and Vaults.

SoFi shortened its referral promotion period from December 31, 2026 to August 4, 2026, and modified the eligibility mechanics for both the Standard Bonus and SoFi Plus Additional Bonus by requiring account opening and user registration during the shortened window rather than simply clicking the referral link. Additionally, SoFi added a new automatic Overdraft Protection feature that links SoFi Savings Accounts to Checking Accounts for SoFi Plus members at enrollment, with no transfer fee, though users can disable it at any time through the app or website.

SoFi removed repetitive section headers and labels from its investment promotion terms in an update detected on July 28, 2026. The changes eliminated three instances of the phrase '1% Match Promotion: Example Withdrawal and Fee Calculations' that appeared above tables and sections describing the 1% match offer, early withdrawal fees, and cancellation policies. The substantive terms, rates, holding periods, and fee structures remain unchanged; only the formatting and organizational headers were revised.

SoFi increased the rewards offered through its Credit Score Monitoring Referral Program. Referrers now receive 1,500 rewards points (equivalent to $15) when someone they refer successfully activates the service within 60 days, up from 1,000 points ($10). The same increase applies to the rewards credited to referrers after qualification; they now receive 1,500 points instead of 1,000. Additionally, SoFi added an example section to the cryptocurrency matching promotion terms to illustrate withdrawal and fee calculations.

SoFi removed the phrase '1% Match Promotion: Example Withdrawal and Fee Calculations' from its cryptocurrency risk disclosure. The updated terms now lead directly from the 1% match on crypto offer into the standardized FDIC insurance and loss-of-value warnings. This appears to be a formatting or editorial simplification with no change to the substantive risk disclosures themselves.

SoFi restructured its Invest Referral Program from an open-ended referral model to a limited-time promotional offer running July 14 through September 30, 2026. The updated terms establish specific eligibility criteria including a $100 asset minimum or Eligible Direct Deposit requirement for referrers, a fixed $75 or $50 cash bonus structure (plus $25 stock bonus for new accounts), and a requirement that all referrals complete within the promotion period. The previous version had no explicit time window or asset threshold, making the new terms more restrictive in eligibility and bonus structure.

SoFi removed promotional labeling from two tables in their SoFi Plus account terms on July 13, 2026. The first change removed the text '1% Match Promotion: Example Withdrawal and Fee Calculations' from the SoFi Plus Cancellation Fee Examples section. The second change removed the same promotional labeling text from the Early Withdrawal Fee Examples section. The third change removed the promotional labeling from the cryptocurrency match section. These changes do not alter the underlying fee structures, eligibility requirements, or calculation methods—only the descriptive headers identifying these as promotional examples.