Version history

SoFi reduced referral rewards for its Credit Score Monitoring service on September 10, 2026. Previously, referrers received 1,500 rewards points (equivalent to $15) and referred recipients received 1,000 points; the updated terms state referrers now receive 1,000 points (equivalent to $10) and recipients receive 1,000 points. This represents a 33% reduction in the referral bonus paid to the person initiating the referral. The document also contained navigation menu reorganizations (labeling changes from 'Banking' to 'Bank', 'Investing' to 'Invest', and menu restructuring) with no material impact on substantive terms.

SoFi's Terms of Service underwent a navigation and menu restructuring in an update detected on September 9, 2026. The changes involved reorganization of website navigation elements, including the addition of an 'At work' menu item, a new 'Protect' section for insurance products, and repositioning of resource categories. These modifications are editorial and organizational in nature, with no material changes to the substantive terms, conditions, rights, or obligations that govern customer relationships.

SoFi updated its website navigation and footer content in the Terms of Use page, detected on September 5, 2026. The changes replaced several calculator tools in the navigation (Home Mortgage Calculator and Personal Loan Calculator were replaced with Mortgage Down Payment Calculator, Compound Interest Calculator, Savings Account Calculator, and IRA Contribution Calculator) and added a reference to International Money Transfers in the Banking Products section. These are navigation and informational updates with no changes to the actual legal terms, rights, obligations, or conditions governing SoFi customer accounts.

SoFi revised terminology in its SoFi Plus account terms, changing instances of 'total equity' to 'total equity value' throughout the early withdrawal fee provisions. The company also added an explicit definition of 'pre-promotion total equity value' specifying it means the total equity value as of the end-of-day balance before the qualifying deposit was received and eligibility requirements were satisfied, as determined by SoFi in its sole discretion. The operational effect is to standardize terminology and clarify the baseline calculation point for determining whether an early withdrawal triggers a fee.

SoFi removed a sentence describing how the limited-time 1% Deposit Match Offer (August 18-31, 2026) could be combined with SoFi Plus benefits. The updated terms also removed the explicit reference to this same promotional offer from the limitations clause, which now states only that the Plus Benefit cannot be combined with other SoFi Invest offers unless SoFi expressly permits it in writing. This change reflects the expiration of the promotional period and simplifies the ongoing terms of SoFi Plus.

An in an update detected on September 1, 2026, SoFi modified navigation or menu text within its Terms of Service. Specifically, the reference 'SoFi Coach Learn More' was changed to 'SoFi Coach SoFi Coach', and 'Budgeting and Spending' was changed to 'Budget Planner'. These changes appear to be renamings of product feature labels or navigation elements rather than substantive modifications to contractual obligations, rights, or responsibilities.

In an update detected on August 28, 2026, SoFi revised its Terms of Use landing page and website navigation structure. The change removed several website footer sections including information about company leadership, values, press coverage, investor relations, careers, and contact details. The updated page reorganized product navigation and removed or consolidated benefit descriptions previously displayed on the terms page itself. This is a structural and informational update to how SoFi presents its website and terms documentation, not a change to the substantive legal terms consumers operate under.

SoFi's Terms of Service footer was restructured in an update detected on August 27, 2026. The previous minimal footer containing only a 'QUESTIONS?' header and customer support phone numbers was replaced with an expanded footer listing SoFi products, company information, legal links, and a newsletter subscription prompt. The change does not alter substantive terms but reorganizes how the document directs users to contact support, access legal documents, and subscribe to communications.

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.

SoFi revised the terms of its referral promotion program in an update detected on August 5, 2026. The promotion period shifted from June 24 – August 4, 2026 to August 5 – September 30, 2026. The minimum deposit requirement for new account holders increased from $50 to $500 to qualify for the Standard Bonus. Additionally, for subscribers to SoFi Plus, the updated terms now explicitly require that the $10/month subscription payment be processed and validated by SoFi within the 21-calendar-day eligibility window, a condition that was not explicitly stated in the prior language.

SoFi revised its SoFi Plus savings account interest structure, effective August 3, 2026. Previously, the terms listed a flat 3.10% APY rate applying to portions of savings balances that did not earn the higher 4.50% APY. The updated language now specifies that SoFi Plus members receive their highest APY rate on up to $20,000 in tiered-rate Savings account balances (including Vault-held amounts), with detailed mechanics explaining how incremental interest is calculated and credited. The practical effect is that eligible members may earn a higher blended interest rate across their first $20,000 in savings compared to the prior rate structure.

SoFi modified its referral promotion terms, shortening the promotion period from December 31, 2026 to August 4, 2026, and tightening eligibility requirements. Account opening must now occur before the end of the promotion period, and deposits must settle within 21 days from opening the referral link and registering or logging in as a SoFi user, rather than just from clicking the link. Additionally, SoFi Plus enrollment timing was adjusted to reference the same opening and registration event. The SoFi Plus benefits section also gained new language describing automatic enabling of Overdraft Protection linking checking and savings accounts when customers join SoFi Plus, with fee-free transfers and the ability to disable the feature at any time.

SoFi removed formatting labels and section headers from its investment match promotion disclosures in an update detected on July 28, 2026. The removed text included headers such as '1% Match Promotion: Example Withdrawal and Fee Calculations' that appeared before regulatory warnings and fee calculation tables. The substantive terms governing the 1% match offer, holding periods, fee calculations, and fraud protections remain unchanged; only organizational and labeling elements were removed.

SoFi increased referral rewards for its Credit Score Monitoring program in an update detected on July 24, 2026. Referrers now receive 1,500 rewards points (equivalent to $15) instead of 1,000 points ($10) when someone they refer successfully activates the service within 60 days. The company also added language describing '1% Match Promotion' withdrawal and fee calculations for cryptocurrency holdings in the same update.

SoFi removed a section titled '1% Match Promotion: Example Withdrawal and Fee Calculations' from its cryptocurrency risk disclosure. The updated terms retain the risk warning that cryptocurrency is not FDIC insured, not bank guaranteed, and may lose value, but no longer include the example calculation section. This removes a specific illustrative element but does not change the substantive risk disclosure itself.

SoFi restructured its Invest Referral Program into a limited-time promotional offer running July 14, 2026 through September 30, 2026. The updated terms narrow referral eligibility by imposing a new asset or direct deposit requirement on referrers, restructure bonus amounts to vary based on referrer eligibility status ($75 or $50 instead of a single bonus), and explicitly restrict referral bonuses to new Self-Directed Accounts only, excluding Automated Invest and IRA accounts. The program also adds new definitions and verification procedures for eligible direct deposits and extends detailed promotional mechanics.

SoFi updated its Early Withdrawal Fee Examples section on July 9, 2026 by adding a subtitle '1% Match Promotion: Example Withdrawal and Fee Calculations' to the table. A similar subtitle was also added to the cryptocurrency match section. These are organizational clarifications that do not change the actual fee calculations, withdrawal timing, or underlying match terms displayed in the examples.

SoFi updated its Terms of Service on July 8, 2026 to reorganize product navigation and add clarifying labels to the 1% Match promotion section. The changes include adding new product categories like 'Coach Chat' and 'Budget Planner' to the Financial Insights menu, and adding section headers labeled '1% Match Promotion: Example Withdrawal and Fee Calculations' to the Match promotion terms. No material changes were made to the substantive terms governing the Match promotion, holding periods, or cancellation fees themselves.

SoFi removed repeated section headers and example labels from its 1% Match promotion terms on July 7, 2026. The changes removed the phrase '1% Match Promotion: Example Withdrawal and Fee Calculations' from three separate promotion sections covering taxable accounts, cancellation fees, and cryptocurrency matching. The substantive promotion terms, fee calculations, and eligibility rules remain unchanged; only the organizational structure and section labeling were modified.

SoFi added a detailed Crypto Referral Program section to its Terms of Service on June 18, 2026, establishing the operational rules for earning referral bonuses tied to cryptocurrency account sign-ups. The new language specifies that both referrers and referred members must complete defined activities, including opening SoFi Crypto accounts and making qualifying purchases, to receive $25 cash bonuses credited within 7 business days. The terms also establish restrictions, including a $10,000 annual cumulative bonus cap across all SoFi referral programs, tax reporting as miscellaneous income on Form 1099-MISC, and SoFi's right to disqualify participants for fraud, abuse, or program gaming without notice.

SoFi substantially revised its referral program terms on June 17, 2026, restructuring eligibility rules, adding explicit conduct and disclosure standards for referrers, introducing a $10,000 annual referral cap, and establishing new tax reporting obligations. The updated terms now prohibit mass email solicitation, require disclosure of material connections to SoFi, restrict claims about product outcomes, and establish independent contractor status with potential W-9 documentation requirements. These changes create binding restrictions on how referrers can promote SoFi products and establish new eligibility limits and administrative requirements.

SoFi added organizational headers and subheadings to sections of its Terms of Service describing the 1% Match promotion on deposits and cryptocurrency accounts. The updated document now includes labels such as '1% Match Promotion: Example Withdrawal and Fee Calculations' above tables and examples that were previously unlabeled. The substantive terms governing eligibility, holding periods, fees, and match amounts remain unchanged; this change reorganizes how the information is presented for readability.

SoFi updated its cookie and tracking technologies disclosure on the Terms of Service page on June 10, 2026. The prior language stated that SoFi uses pixels and tracking technologies to collect information and shares this with social media, advertising, and analytics partners; if users did not make a selection, they agreed to these uses. The updated language introduces a Privacy Preference Center that provides category-specific cookie controls (Functional Cookies, Performance Cookies, Targeting Cookies, and Strictly Necessary Cookies), allows users to reject all optional cookies or manage individual cookie category settings, and explains that blocking certain cookies may affect site functionality and available services. Users now have explicit granular control over most tracking technologies rather than an implicit consent model.

SoFi's Terms of Service were updated on June 10, 2026 to add references to 'Student Loan Servicing' in two locations within the resource navigation and support hub sections. The updated terms now list 'Student Loan Servicing' alongside existing support categories like Fraud Support and Eligibility Criteria. This appears to be a navigation or organizational change to the resources SoFi highlights in its service documentation, with no material change to underlying user rights, obligations, or service terms.

SoFi's Terms of Service underwent minor formatting and navigation updates on June 9, 2026. The changes primarily involved reorganizing page navigation elements (adding 'Skip To Main Content' and 'Accessible Menu' links), modifying button labels ('Find My Rate' to 'Get Started'), and adjusting internal page linking structures. One substantive modification removed language referring to the Arbitration Agreement from the E-Sign Agreement section, though the reference now appears separately as a PDF File link. These changes do not materially alter the binding effect of the terms or the services covered.

SoFi updated its Terms of Service on June 5, 2026 with primarily formatting and navigation improvements. The main substantive change removes language that previously required users to agree to SoFi's Arbitration Agreement as part of accepting the Terms of Use; the updated language now references only the E-Sign Agreement and GLBA Privacy Notice. Several section headers now include navigation links (same page links) for better accessibility. These changes simplify the document structure and may affect how dispute resolution is presented to new users.

SoFi removed navigation link text ('same page link') from the table of contents in their Terms of Service on May 31, 2026. The document previously displayed clickable section headers with explicit 'same page link' labels; the updated version removes these labels while retaining all section headings and content. This is a formatting and navigation change with no impact on the substantive terms, rights, or obligations described in the agreement.

SoFi updated its Terms of Service on May 30, 2026 with primarily editorial and formatting changes. The document now includes accessibility features (Skip to Main Content menu), corrected internal navigation links, and reformatted section headers. One substantive modification removed explicit reference to the Arbitration Agreement from the E-Sign Agreement acceptance language, though the document still references an Arbitration Agreement separately elsewhere in the terms.

SoFi reduced the interest rate on SoFi Plus Savings balances exceeding $20,000 from 3.30% APY to 3.10% APY, effective May 28, 2026. The tiered rate structure remains unchanged (4.50% on balances up to $20,000), but the secondary tier now yields 20 basis points less annually. SoFi Plus members and non-members with Direct Deposit or $5,000 in Qualifying Deposits both see this rate reduction applied to applicable balances.

SoFi reduced the APY rates on its savings accounts effective May 28, 2026. The rate for accounts with eligible direct deposit decreased from 3.30% to 3.10% APY, while the rate for accounts without direct deposit decreased from 1.00% to 0.80% APY. These changes apply to all savings accounts, including Vaults, with no minimum direct deposit requirement to earn the stated rate.

SoFi updated its SoFi Plus subscription terms on May 19, 2026, making several clarifications and operational adjustments. The company changed references from 'every 30 days' to 'every month' for billing cycles across ACH transfers and credit/debit card payments, updated terminology from 'Customers' to 'Members', and added new language stating that SoFi may modify the subscription fee or billing interval upon advance notice. The terms now specify that the recurring debit authorization remains in effect until you update your payment method or cancel, rather than only upon cancellation.

SoFi replaced its previous cookie and tracking technology disclosure with a more detailed cookie consent interface that explains how different cookie types function. The prior language stated that SoFi shares collected information with social media, advertising, and analytics partners and that non-selection constitutes consent to tracking. The updated disclosure describes cookie categories separately (functional, performance, strictly necessary), explains what each does, and states that users can choose not to allow some cookie types, though blocking them may affect site functionality.

SoFi updated its Terms of Service on May 5, 2026, making primarily formatting and navigation changes to the document structure. The updates added navigation anchors, clarified language in several sections, and modified how the agreement references related documents like the E-Sign Agreement and Arbitration Agreement. These changes appear largely technical in nature and do not substantially alter the substantive rights, obligations, or protections described in the original terms.

SoFi updated its member rewards program and SoFi Plus benefits on May 1, 2026. The Credit Score Monitoring reward now applies only to new SoFi members rather than all members. SoFi Plus members now receive a one-time discounted annual digital subscription to The Wall Street Journal ($129) and a discounted ongoing subscription to MarketWatch ($2 every four weeks for one year), replacing the previous ClassPass free trial benefit. After the initial promotional period, both subscriptions automatically renew at standard rates unless canceled before renewal.