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DISCLOSURES
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with colleges and universities listed on SoFi.com. Colleges and universities
listed on SoFi.com do not endorse, promote or recommend SoFi loan products.
PRODUCTS
STUDENT LOAN REFINANCING +–
1. Fixed rates range from 2.74% APR to 7.74% APR with a 0.25% autopay discount.
Variable rates from 1.74% APR to 7.74% APR with a 0.25% autopay discount. Unless
required to be lower to comply with applicable law, Variable Interest rates on
5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are
capped at 9.95% APR. Your actual rate will be within the range of rates listed
above and will depend on the term you select, evaluation of your
creditworthiness, income, presence of a co-signer and a variety of other
factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi
variable-rate product, the variable interest rate for a given month is derived
by adding a margin to the 30-day average SOFR index, published two business days
preceding such calendar month, rounded up to the nearest one hundredth of one
percent (0.01% or 0.0001). APRs for variable-rate loans may increase after
origination if the SOFR index increases. The SoFi 0.25% autopay interest rate
reduction requires you to agree to make monthly principal and interest payments
by an automatic monthly deduction from a savings or checking account. This
benefit will discontinue and be lost for periods in which you do not pay by
automatic deduction from a savings or checking account. The benefit lowers your
interest rate but does not change the amount of your monthly payment. This
benefit is suspended during periods of deferment and forbearance. Autopay is not
required to receive a loan from SoFi.
2. If you lose your job through no fault of your own, you may apply for
Unemployment Protection. SoFi will suspend your monthly SoFi loan payments and
provide job placement assistance during your forbearance period. Interest will
continue to accrue and will be added to your principal balance at the end of
each forbearance period, to the extent permitted by applicable law. Benefits are
offered in three month increments, and capped at 12 months, in aggregate, over
the life of the loan. To be eligible for this assistance you must provide proof
that you have applied for and are eligible for unemployment compensation, and
you must actively work with our Career Advisory Group to look for new
employment. If the loan is co-signed the unemployment protection applies where
both the borrower and cosigner lose their job and meet conditions.
Minimum Credit Score: Not all applicants who meet SoFi’s minimum credit score
requirements are approved for student loan refinancing. In addition to meeting
SoFi’s minimum eligibility criteria, applicants must also meet other credit and
underwriting requirements to qualify.
Student Loan Refinance Calculator: The estimated savings calculation is derived
by taking the estimated lifetime cost or monthly payment amount of your existing
student loan(s) minus the total estimated lifetime cost or monthly payment
amount of a SoFi loan upon refinancing, based on the assumptions outlined below.
SoFi’s savings methodology for student loan refinancing assumes that your
current, non-SoFi loan(s) have 1) an interest rate of 7.100% (unless otherwise
input by you); 2) an outstanding term of 10 years (unless otherwise input by
you); and 3) an outstanding balance equal to your stated loan amount. The
calculation also assumes that your SoFi refinance loan 1) has the rate (APR) and
term you selected; 2) is paid on-time for the duration of the refinanced term
with no pre-payment amounts; and 3) has the AutoPay discount, which lowers the
APR of your loan by 0.25%. Your actual savings may vary based on interest rates,
balances, remaining repayment term and other factors. The estimated savings
amount is not representative of your current situation or qualifications and is
not a commitment to lend. Though refinancing to a longer term helps to achieve
monthly savings, borrowers generally pay more in total interest over the life of
the loan.
PARENT PLUS REFINANCING +–
12. Fixed rates range from 2.74% APR to 7.04% APR with a 0.25% autopay discount.
Variable rates from 1.74% APR to 7.04% APR with a 0.25% autopay discount. Unless
required to be lower to comply with applicable law, Variable Interest rates on
5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are
capped at 9.95% APR. Your actual rate will be within the range of rates listed
above and will depend on the term you select, evaluation of your
creditworthiness, income, presence of a co-signer and a variety of other
factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi
variable-rate product, the variable interest rate for a given month is derived
by adding a margin to the 30-day average SOFR index, published two business days
preceding such calendar month, rounded up to the nearest one hundredth of one
percent (0.01% or 0.0001). APRs for variable-rate loans may increase after
origination if the SOFR index increases. The SoFi 0.25% autopay interest rate
reduction requires you to agree to make monthly principal and interest payments
by an automatic monthly deduction from a savings or checking account. This
benefit will discontinue and be lost for periods in which you do not pay by
automatic deduction from a savings or checking account. The benefit lowers your
interest rate but does not change the amount of your monthly payment. This
benefit is suspended during periods of deferment and forbearance. Autopay is not
required to receive a loan from SoFi.
MEDICAL/DENTAL RESIDENT REFINANCING +–
1. Interest rates and important details. Minimum loan amount of $10,001–unless
required to be higher in some states to comply with applicable law. Residents of
MS and MT are not eligible for a medical resident refinance loan at this
time.Variable rates from 1.85% APR to 6.30% APR with a 0.25% autopay discount.
Unless required to be lower to comply with applicable law, Variable Interest
rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year
terms are capped at 9.95% APR. Your actual rate will be within the range of
rates listed above and will depend on the term you select, evaluation of your
creditworthiness, income, years remaining in residency/fellowship and a variety
of other factors. Lowest rates reserved for the most creditworthy borrowers. For
the SoFi variable-rate product, the variable interest rate for a given month is
derived by adding a margin to the 30-day average SOFR index, published two
business days preceding such calendar month, rounded up to the nearest one
hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may
increase after origination if the SOFR index increases. The SoFi 0.25% autopay
interest rate reduction requires you to agree to make monthly principal and
interest payments by an automatic monthly deduction from a savings or checking
account. This benefit will discontinue and be lost for periods in which you do
not pay by automatic deduction from a savings or checking account. The benefit
lowers your interest rate but does not change the amount of your monthly
payment. This benefit is suspended during periods of deferment and forbearance.
Autopay is not required to receive a loan from SoFi. NOTICE: this loan type will
likely result in negative amortization during the residency period; read more at
SoFi.com/legal#medical-resident-slr-100
The minimum monthly payment of $100 while in the Residency Period may not pay
all of the interest due each month, which will likely result in negative
amortization and a larger principal balance when you enter the Full Repayment
Period. Dental residents and fellows are unable to receive additional tuition
liabilities for the duration of their Residency Period; see SoFi.com/eligibility
for details. See APR examples and terms. SoFi refinance loans are private loans
and do not have the same repayment options that the federal loan program offers
such as Income Based Repayment or Income Contingent Repayment or PAYE or REPAYE.
In addition, federal student loans offer deferment and forbearance options that
are not available for SoFi Lending Corp. or an affiliate Medical or Dental
Resident Refinance Loan borrowers.
PRIVATE STUDENT LOANS +–
UNDERGRADUATE STUDENT LOANS
APR Rates shown are effective as of 04/01/2022 and include the 0.25% autopay
discount and assume a single disbursement. If approved for a loan, the rates and
terms offered will depend on things like creditworthiness, the length of the
loan, and other factors, and will fall within the range of rates available by
applicable loan term—check out our APR examples and terms. Not all applicants
qualify for the lowest rate. Lowest rates reserved for the most creditworthy
borrowers. Your actual rate will be within the range of rates listed above and
will depend on a variety of factors, including evaluation of your credit
worthiness, years of professional experience, income and other factors. Want to
learn more? Check out our eligibility criteria. SoFi reserves the right to
change interest rates at any time without notice, changes would only apply to
applications begun after the effective date of the change.
Interest Rates: Eligibility and Important Details. Fixed rates range from 3.47%
APR to 11.16% APR with a 0.25% autopay discount. Variable rates range from 1.36%
APR – 11.79% APR a 0.25% autopay discount. Unless required to be lower to comply
with applicable law, Variable Interest rates are capped at 13.95%. Your actual
rate will be within the range of rates listed above and will depend on the term
and type of repayment option you select, evaluation of your creditworthiness,
income, presence of a co-signer (if applicable) and a variety of other factors.
Lowest rates reserved for the most creditworthy borrowers. Check out our
eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi
variable-rate product, the variable interest rate for a given month is derived
by adding a margin to the 30-day average SOFR index, published two business days
preceding such calendar month, rounded up to the nearest one hundredth of one
percent (0.01% or 0.0001). APRs for variable-rate loans may increase after
origination if the SOFR index increases. The SoFi 0.25% autopay interest rate
reduction requires you to agree to make monthly principal and interest payments
by an automatic monthly deduction from a savings or checking account. This
benefit will discontinue and be lost for periods in which you do not pay by
automatic deduction from a savings or checking account. The benefit lowers your
interest rate but does not change the amount of your monthly payment. This
benefit is suspended during periods of deferment and forbearance. Autopay is not
required to receive a loan from SoFi.
Autopay Discount. The SoFi 0.25% autopay interest rate reduction requires you to
agree to make your scheduled monthly payments by an automatic monthly deduction
(ACH) from a savings or checking account. The benefit will discontinue and be
lost for periods in which you do not pay by automatic deduction from a savings
or checking account. The discount will not reduce the monthly payment; instead,
the interest savings are applied to the principal loan balance, which may help
pay the loan down faster. Enrolling in autopay is not required to receive a loan
from SoFi.
Still have questions? Our FAQs have answers.
Credit Pulls. To check the rates and terms you qualify for, SoFi conducts a soft
credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft
credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi
to show you what rates and terms you are pre-qualified for, subject to the
verification of the information you have submitted as part of your application.
After seeing your rates, if you choose a product and continue your application,
we will request your full credit report from one or more consumer reporting
agencies, which is considered a hard credit inquiry. Hard credit inquiries (or
hard credit pulls) are required for SoFi to be able to issue you a loan and may
impact your credit score.
Unemployment Protection. If you lose your job through no fault of your own, you
may apply for Unemployment Protection. If you qualify, SoFi will suspend your
monthly SoFi loan payments and provide job placement assistance during your
forbearance period. Interest will continue to accrue and will be added to your
principal balance at the end of each forbearance period, to the extent permitted
by applicable law. Benefits are offered in up to three month increments, and
capped at 12 months, in aggregate, over the life of the loan. To be eligible for
this assistance, you must provide proof that you have applied for and are
eligible for unemployment compensation, and you must actively work with SoFi
Career Services to look for new employment. If the loan is cosigned, the
unemployment protection applies where both the borrower and cosigner lose their
job and meet conditions. Learn more about SoFi’s Unemployment Protection here
#what is sofis unemployment protection program .
Negative Amortization. Interest begins accruing on the first disbursement date,
but some repayment options do not require full principal or interest payments
until the end of the deferment period. Any unpaid interest that has accrued and
remains unpaid at the end of the deferment period will be added to the principal
balance at the end of the deferment period. Thereafter, interest will accrue on
this new principal balance. This is known as negative amortization. You can help
avoid negative amortization by making extra payments on your loan during the
deferment period. Check out our APR examples and terms. Still have questions?
Our FAQs have answers.
Important Information About Federal Repayment Options. SoFi Private Student
Loans do not have the same repayment options that federal loan programs offer,
such as Income-Based Repayment or Income-Contingent Repayment, or PAYE or
REPAYE. In addition, federal student loans offer deferment and forbearance
options that are not available for SoFi Lending Corp. or an affiliate Private
Student Loan borrowers. Find out more about federal repayment options here. for
more about federal repayment options
GRADUATE STUDENT LOANS
APR Rates shown are effective as of 04/01/2022 and include the 0.25% autopay
discount and assume a single disbursement. If approved for a loan, the rates and
terms offered will depend on things like creditworthiness, the loan term, and
other factors, and will fall within the range of rates available by applicable
loan term—check out our APR examples and terms. Not all applicants qualify for
the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your
actual rate will be within the range of rates listed above and will depend on a
variety of factors, including evaluation of your credit worthiness, years of
professional experience, income and other factors. Want to learn more? Check out
our eligibility criteria. SoFi reserves the right to change interest rates at
any time without notice, changes would only apply to applications begun after
the effective date of the change.
Interest Rates: Eligibility and Important Details. Fixed rates range from 4.48%
APR to 11.06% APR with a 0.25% autopay discount. Variable rates range from 2.21%
APR – 11.69% APR with a 0.25% autopay discount. Unless required to be lower to
comply with applicable law, Variable Interest rates are capped at 13.95%. Your
actual rate will be within the range of rates listed above and will depend on
the term and type of repayment option you select, evaluation of your
creditworthiness, income, presence of a co-signer (if applicable) and a variety
of other factors. Lowest rates reserved for the most creditworthy borrowers.
Check out our eligibility criteria at
https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product,
the variable interest rate for a given month is derived by adding a margin to
the 30-day average SOFR index, published two business days preceding such
calendar month, rounded up to the nearest one hundredth of one percent (0.01% or
0.0001). APRs for variable-rate loans may increase after origination if the SOFR
index increases. The SoFi 0.25% autopay interest rate reduction requires you to
agree to make monthly principal and interest payments by an automatic monthly
deduction from a savings or checking account. This benefit will discontinue and
be lost for periods in which you do not pay by automatic deduction from a
savings or checking account. The benefit lowers your interest rate but does not
change the amount of your monthly payment. This benefit is suspended during
periods of deferment and forbearance. Autopay is not required to receive a loan
from SoFi.
Autopay Discount. The SoFi 0.25% autopay interest rate reduction requires you to
agree to make your scheduled monthly payments by an automatic monthly deduction
(ACH) from a savings or checking account. The benefit will discontinue and be
lost for periods in which you do not pay by automatic deduction from a savings
or checking account. The discount will not reduce the monthly payment; instead,
the discount is applied to the principal loan balance and is intended to help
pay the loan down faster. Enrolling in autopay is not required to receive a loan
from SoFi.
Still have questions? Our FAQs have answers.
Credit Pulls. To check the rates and terms you qualify for, SoFi conducts a soft
credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft
credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi
to show you what rates and terms you are pre-qualified for, subject to the
verification of the information you have submitted as part of your application.
After seeing your rates, if you choose a product and continue your application,
we will request your full credit report from one or more consumer reporting
agencies, which is considered a hard credit inquiry. Hard credit inquiries (or
hard credit pulls) are required for SoFi to be able to issue you a loan and may
impact your credit score.
Unemployment Protection. If you lose your job through no fault of your own, you
may apply for Unemployment Protection. If you qualify, SoFi will suspend your
monthly SoFi loan payments and provide job placement assistance during your
forbearance period. Interest will continue to accrue and will be added to your
principal balance at the end of each forbearance period, to the extent permitted
by applicable law. Benefits are offered in up to three month increments, and
capped at 12 months, in aggregate, over the life of the loan. To be eligible for
this assistance, you must provide proof that you have applied for and are
eligible for unemployment compensation, and you must actively work with SoFi
Career Services to look for new employment. If the loan is cosigned, the
unemployment protection applies where both the borrower and cosigner lose their
job and meet conditions. Learn more about SoFi’s Unemployment Protection here
#what is sofis unemployment protection program .
Negative Amortization. Interest begins accruing on the first disbursement date,
but some repayment options do not require full principal or interest payments
until the end of the deferment period. Any unpaid interest that has accrued and
remains unpaid at the end of the deferment period will be added to the principal
balance at the end of the deferment period. Thereafter, interest will accrue on
this new principal balance. This is known as negative amortization. You can help
avoid negative amortization by making extra payments on your loan during the
deferment period. Check out our APR examples and terms. Still have questions?
Our FAQs have answers.
Important Information About Federal Repayment Options. SoFi Private Student
Loans do not have the same repayment options that federal loan programs offer,
such as Income-Based Repayment or Income-Contingent Repayment, or PAYE or
REPAYE. In addition, federal student loans offer deferment and forbearance
options that are not available for SoFi Lending Corp. or an affiliate Private
Student Loan borrowers. Find out more about federal repayment options here. for
more about federal repayment options
MBA & LAW STUDENT LOANS
APR Rates shown are effective as of 04/01/2022 and include the 0.25% autopay
discount and assume a single disbursement. If approved for a loan, the rates and
terms offered will depend on things like creditworthiness, the loan term, and
other factors, and will fall within the range of rates available by applicable
loan term—check out our APR examples and terms. Not all applicants qualify for
the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your
actual rate will be within the range of rates listed above and will depend on a
variety of factors, including evaluation of your credit worthiness, years of
professional experience, income and other factors. Want to learn more? Check out
our eligibility criteria. SoFi reserves the right to change interest rates at
any time without notice, changes would only apply to applications begun after
the effective date of the change.
Interest Rates: Eligibility and Important Details. Fixed rates range from 4.43%
APR to 11.01% APR with a 0.25% autopay discount. Variable rates range from 2.16%
APR – 11.64% APR a 0.25% autopay discount. Unless required to be lower to comply
with applicable law, Variable Interest rates are capped at 13.95%. Your actual
rate will be within the range of rates listed above and will depend on the term
and type of repayment option you select, evaluation of your creditworthiness,
income, presence of a co-signer (if applicable) and a variety of other factors.
Lowest rates reserved for the most creditworthy borrowers. Check out our
eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi
variable-rate product, the variable interest rate for a given month is derived
by adding a margin to the 30-day average SOFR index, published two business days
preceding such calendar month, rounded up to the nearest one hundredth of one
percent (0.01% or 0.0001). APRs for variable-rate loans may increase after
origination if the SOFR index increases. The SoFi 0.25% autopay interest rate
reduction requires you to agree to make monthly principal and interest payments
by an automatic monthly deduction from a savings or checking account. This
benefit will discontinue and be lost for periods in which you do not pay by
automatic deduction from a savings or checking account. The benefit lowers your
interest rate but does not change the amount of your monthly payment. This
benefit is suspended during periods of deferment and forbearance. Autopay is not
required to receive a loan from SoFi.
Autopay Discount. The SoFi 0.25% autopay interest rate reduction requires you to
agree to make your scheduled monthly payments by an automatic monthly deduction
(ACH) from a savings or checking account. The benefit will discontinue and be
lost for periods in which you do not pay by automatic deduction from a savings
or checking account. The discount will not reduce the monthly payment; instead,
the discount is applied to the principal loan balance and is intended to help
pay the loan down faster. Enrolling in autopay is not required to receive a loan
from SoFi.
Still have questions? Our FAQs have answers.
Credit Pulls. To check the rates and terms you qualify for, SoFi conducts a soft
credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft
credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi
to show you what rates and terms you are pre-qualified for, subject to the
verification of the information you have submitted as part of your application.
After seeing your rates, if you choose a product and continue your application,
we will request your full credit report from one or more consumer reporting
agencies, which is considered a hard credit inquiry. Hard credit inquiries (or
hard credit pulls) are required for SoFi to be able to issue you a loan and may
impact your credit score.
Unemployment Protection. If you lose your job through no fault of your own, you
may apply for Unemployment Protection. If you qualify, SoFi will suspend your
monthly SoFi loan payments and provide job placement assistance during your
forbearance period. Interest will continue to accrue and will be added to your
principal balance at the end of each forbearance period, to the extent permitted
by applicable law. Benefits are offered in up to three month increments, and
capped at 12 months, in aggregate, over the life of the loan. To be eligible for
this assistance, you must provide proof that you have applied for and are
eligible for unemployment compensation, and you must actively work with SoFi
Career Services to look for new employment. If the loan is cosigned, the
unemployment protection applies where both the borrower and cosigner lose their
job and meet conditions. Learn more about SoFi’s Unemployment Protection here
#what is sofis unemployment protection program .
Negative Amortization. Interest begins accruing on the first disbursement date,
but some repayment options do not require full principal or interest payments
until the end of the deferment period. Any unpaid interest that has accrued and
remains unpaid at the end of the deferment period will be added to the principal
balance at the end of the deferment period. Thereafter, interest will accrue on
this new principal balance. This is known as negative amortization. You can help
avoid negative amortization by making extra payments on your loan during the
deferment period. Check out our APR examples and terms. Still have questions?
Our FAQs have answers.
Important Information About Federal Repayment Options. SoFi Private Student
Loans do not have the same repayment options that federal loan programs offer,
such as Income-Based Repayment or Income-Contingent Repayment, or PAYE or
REPAYE. In addition, federal student loans offer deferment and forbearance
options that are not available for SoFi Lending Corp. or an affiliate Private
Student Loan borrowers. Find out more about federal repayment options here. for
more about federal repayment options
PARENT STUDENT LOANS
APR Rates shown are effective as of 04/01/2022 and include the 0.25% autopay
discount and assumes a single disbursement. If approved for a loan, the rates
and terms offered will depend on things like creditworthiness, the length of the
loan, and other factors, and will fall within the range of rates available by
applicable loan term—check out our APR examples and terms. Not all applicants
qualify for the lowest rate. Lowest rates reserved for the most creditworthy
borrowers. Your actual rate will be within the range of rates listed above and
will depend on a variety of factors, including evaluation of your credit
worthiness, years of professional experience, income and other factors. Want to
learn more? Check out our eligibility criteria. SoFi reserves the right to
change interest rates at any time without notice, changes would only apply to
applications begun after the effective date of the change.
Interest Rates: Eligibility and Important Details. Fixed rates range from 4.48%
APR to 11.16% APR with a 0.25% autopay discount. Variable rates range from 1.56%
APR – 11.79% APR with a 0.25% autopay discount. Unless required to be lower to
comply with applicable law, Variable Interest rates are capped at 13.95%. Your
actual rate will be within the range of rates listed above and will depend on
the term and type of repayment option you select, evaluation of your
creditworthiness, income, presence of a co-signer (if applicable) and a variety
of other factors. Lowest rates reserved for the most creditworthy borrowers.
Check out our eligibility criteria at
https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product,
the variable interest rate for a given month is derived by adding a margin to
the 30-day average SOFR index, published two business days preceding such
calendar month, rounded up to the nearest one hundredth of one percent (0.01% or
0.0001). APRs for variable-rate loans may increase after origination if the SOFR
index increases. The SoFi 0.25% autopay interest rate reduction requires you to
agree to make monthly principal and interest payments by an automatic monthly
deduction from a savings or checking account. This benefit will discontinue and
be lost for periods in which you do not pay by automatic deduction from a
savings or checking account. The benefit lowers your interest rate but does not
change the amount of your monthly payment. This benefit is suspended during
periods of deferment and forbearance. Autopay is not required to receive a loan
from SoFi.
Autopay Discount. The SoFi 0.25% autopay interest rate reduction requires you to
agree to make your scheduled monthly payments by an automatic monthly deduction
(ACH) from a savings or checking account. The benefit will discontinue and be
lost for periods in which you do not pay by automatic deduction from a savings
or checking account. The discount will not reduce the monthly payment; instead,
the interest savings are applied to the principal loan balance, which may help
pay the loan down faster. Enrolling in autopay is not required to receive a loan
from SoFi.
Still have questions? Our FAQs have answers.
Credit Pulls. To check the rates and terms you qualify for, SoFi conducts a soft
credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft
credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi
to show you what rates and terms you are pre-qualified for, subject to the
verification of the information you have submitted as part of your application.
After seeing your rates, if you choose a product and continue your application,
we will request your full credit report from one or more consumer reporting
agencies, which is considered a hard credit inquiry. Hard credit inquiries (or
hard credit pulls) are required for SoFi to be able to issue you a loan and may
impact your credit score.
Unemployment Protection.If you lose your job through no fault of your own, you
may apply for Unemployment Protection. If you qualify, SoFi will suspend your
monthly SoFi loan payments and provide job placement assistance during your
forbearance period. Interest will continue to accrue and will be added to your
principal balance at the end of each forbearance period, to the extent permitted
by applicable law. Benefits are offered in up to three month increments, and
capped at 12 months, in aggregate, over the life of the loan. To be eligible for
this assistance, you must provide proof that you have applied for and are
eligible for unemployment compensation, and you must actively work with SoFi
Career Services to look for new employment. If the loan is cosigned, the
unemployment protection applies where both the borrower and cosigner lose their
job and meet conditions. Learn more about SoFi’s Unemployment Protection here
#what is sofis unemployment protection program .
Negative Amortization. Interest begins accruing on the first disbursement date,
but some repayment options do not require full principal or interest payments
until the end of the deferment period. Any unpaid interest that has accrued and
remains unpaid at the end of the deferment period will be added to the principal
balance at the end of the deferment period. Thereafter, interest will accrue on
this new principal balance. This is known as negative amortization. You can help
avoid negative amortization by making extra payments on your loan during the
deferment period. Check out our APR examples and terms. Still have questions?
Our FAQs have answers.
Important Information About Federal Repayment Options.SoFi Private Student Loans
do not have the same repayment options that federal loan programs offer, such as
Income-Based Repayment or Income-Contingent Repayment, or PAYE or REPAYE. In
addition, federal student loans offer deferment and forbearance options that are
not available for SoFi Lending Corp. or an affiliate Private Student Loan
borrowers. Find out more about federal repayment options here. for more about
federal repayment options
APPLICATION AND SOLICITATION DISCLOSURE (ASD) LINKS
SoFi Private Student Loan – Undergraduate Variable Rate
SoFi Private Student Loan – Undergraduate Fixed Rate
SoFi Private Student Loan – Graduate Variable Rate
SoFi Private Student Loan – Graduate Fixed Rate
SoFi Private Student Loan – MBA Variable Rate
SoFi Private Student Loan – MBA Fixed Rate
SoFi Private Student Loan – LAW Variable Rate
SoFi Private Student Loan – LAW Fixed Rate
SoFi Private Student Loan – Parent Variable Rate
SoFi Private Student Loan – Parent Fixed Rate
PERSONAL LOANS +–
4. If you lose your job through no fault of your own, you may apply for
Unemployment Protection. If your loan(s) is/are in good standing at the time you
request Unemployment Protection SoFi will, upon approval, modify your monthly
SoFi loan payments and provide job placement assistance during your forbearance
period. Interest will continue to accrue and will be added to your principal
balance at the end of each forbearance period, to the extent permitted by
applicable law. Benefits are offered in three month increments, and capped at 12
months, in aggregate, over the life of the loan. To be eligible for this
assistance you must provide proof that you have applied for and are eligible for
unemployment compensation, and you must actively work with our Career Advisory
Group to look for new employment.
5. Fixed rates from 5.74% APR to 21.78% APR (with all discounts). SoFi rate
ranges are current as of 4/12/22 and are subject to change without notice. Not
all rates and amounts available in all states. See Personal Loan eligibility
details. Not all applicants qualify for the lowest rate. Lowest rates reserved
for the most creditworthy borrowers. Your actual rate will be within the range
of rates listed above and will depend on a variety of factors, including
evaluation of your credit worthiness, income, and other factors. See APR
examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you
to agree to make monthly principal and interest payments by an automatic monthly
deduction from a savings or checking account. The benefit will discontinue and
be lost for periods in which you do not pay by automatic deduction from a
savings or checking account.
To check the rates and terms you qualify for, SoFi conducts a soft credit pull
that will not affect your credit score. However, if you choose a product and
continue your application, we will request your full credit report from one or
more consumer reporting agencies, which is considered a hard credit pull. If
SoFi is unable to offer you a loan but matches you for a loan with a
participating bank then your rate may be outside the range of rates listed
above.
See Consumer Licenses.
Late Fees:
Hold up. Just because we don’t charge late fees, we want to make sure you
know—by paying after your bill’s due date, paying less than the minimum due, or
even missing payments, means you’ll accumulate more interest and your final
payment will be larger as a result. And you wouldn’t want that. Payments that
are not made in full or on time may result an event of default under your Loan
Agreement. And you don’t want that either. Late payments, partial payments,
missed payments, or defaults on your loan may be reflected on your credit
report. Nobody anywhere wants that. Nope nope nope.
That said, SoFi knows that life happens. Remember that if you lose your job
through no fault of your own, you might be eligible for SoFi’s Unemployment
Protection Program. Learn more here.
6. Rate ranges for Lending Club and Discover are based on data compiled in
November 2018 from company websites. Average credit card rates as of 11/12/18
from CreditCards.com for all categories of cards.
Your results will vary and an increase is not guaranteed. Members who used a
SoFi Personal Loan to consolidate $10,000+ of credit card debt saw their FICO®
scores increase an average of 22 points within 1 year from funding date. Average
FICO score increases are based on funded members from January through December
2018. Increase was computed by comparing reported Version 8 FICO scores at the
time of application against the same scores 1 year later. SoFi is not a credit
repair organization as defined under federal or state law, including the Credit
Repair Organizations Act. FICO is a registered trademark of Fair Isaac
Corporation.
SoFi Personal Loan borrowers reduced their interest rate by 44% on average,
based on a survey of 1823 SoFi borrowers who took out a Personal Loan to pay off
credit cards between January and February 2018.
Disclaimer: Many factors affect your credit scores and the interest rates you
may receive. SoFi is not a credit repair organization as defined under federal
or state law, including the Credit Repair Organizations Act. SoFi does not
provide “credit repair” services or advice or assistance regarding “rebuilding”
or “improving” your credit record, credit history, or credit rating. For
details, see the FTC’s website on credit.
Calculations based on a 5-year SoFi Personal Loan with lowest available fixed
rate with AutoPay of 8.93% APR. Credit card calculation assumes 5-year repayment
of $30,000 credit card balance with interest rate of 16.38% APR. Both
Calculations assume 60 total monthly payments, and no pre-payment amounts.
Every 6 Minutes: Claim based on 47,159 SoFi Personal Loan borrowers who used the
loan to pay off credit card debt between 1/1/17 and 9/30/17.
Recommend SoFi: Based on a survey of 1,642 SoFi members from 02/21/2019 to
03/13/2019 who funded a loan with SoFi within 6 months of the survey date, 98%
of participants would recommend SoFi to a friend. This should not be confused
with SoFi’s Net Promoter Score®, which is a separate survey that uses a
different scoring model. This statistic isn’t recommending or endorsing any
product or service offered through SoFi Wealth LLC, including automated
investing, financial planning and SoFi Advice.
Fast Funding: Subject to receipt of required documentation, underwriting
guidelines, and processing time by your institution. Loans for amounts over
$20,000 may require additional underwriting review time. Funds are disbursed via
ACH as soon as the next business day after approval and acceptance of terms.
PRESCREEN AND OPT-OUT NOTICE: You received this “prescreened” offer of credit
because we used information from your credit report to determine that you
satisfied certain criteria. This offer is not guaranteed if you do not meet our
additional underwriting criteria. However, if you do not want to receive
prescreened offers of credit from us and other companies, you may exercise the
right to not be included on prescreened lists by calling the consumer reporting
agencies toll-free at 1-888-5-OPTOUT (1-888-5-8688); or writing to: Equifax
Options, P.O. Box 740123, Atlanta, GA 30374-0123, TransUnion, Opt Out Request,
P.O. Box 505, Woodlyn, PA 19094-0505, Experian Consumer Opt Out, P.O. Box 919,
Allen, TX 75013.
Minimum Credit Score: Not all applicants who meet SoFi’s minimum credit score
requirements are approved for a SoFi Personal Loan. In addition to meeting
SoFi’s minimum eligibility criteria, applicants must also meet other credit and
underwriting requirements to qualify.
7. Direct Deposit: To qualify for an additional 0.25% APR direct deposit
discount you must: (1) set up autopay with SoFi Money within 20 days of the
funding of your loan, AND (2) setup payroll direct deposits of at least
$1,000/mo to SoFi Money within 35 days of the funding of your loan. If you do
not set up autopay with SoFi Money within 20 days of the funding of your loan,
AND setup payroll direct deposits to SoFi Money within 35 days of the funding of
your loan you will not be qualified for this additional 0.25% direct deposit
discount. Once qualified, you will receive this additional 0.25% direct deposit
discount during periods in which you have direct deposits of at least $1,000/mo
turned on with your SoFi Money account. This additional direct deposit discount
will be lost during periods in which you have turned off direct deposits for
your SoFi Money account. You are not required to enroll in autopay or direct
deposits to receive a loan from SoFi. The Direct Deposit Rate Reduction excludes
members from receiving the $100
SoFi Money® direct deposit promotional program. SoFi Money® is a cash management
account, which is a brokerage product, offered by SoFi Securities LLC. Member
FINRA/SIPC. Neither SoFi nor its affiliates are a bank. SoFi Money Debit Card
issued by The Bancorp Bank.
SoFi Money® is a cash management account, which is a brokerage product, offered
by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates are a
bank. SoFi Money Debit Card issued by The Bancorp Bank.
Not all applicants who meet SoFi’s minimum credit score requirements are
approved for a SoFi Personal Loan. In addition to meeting SoFi’s minimum
eligibility criteria, applicants must also meet other credit and underwriting
requirements to qualify.
SoFi Lending $250 into a SoFi Money account After 3 On-Time Monthly Payments on
a Personal Loan Offer: Terms and conditions apply. Offer is subject to lender
approval, and not available to residents of Ohio. The offer is only open to new
Personal Loan borrowers and may not be combined with other offers aside from the
autopay discount, direct deposit discount, and direct pay discount. To receive
the offer, you must: (1) register and apply through the promotion link for a
SoFi Personal Loan by 11:59pm EST 8/31/2021; (2) complete a loan application
with SoFi before 11:59pm EST 9/3/2021; (3) have a SoFi Money account or open a
SoFi Money account within 60 days after starting a personal loan application;
(4) meet SoFi’s underwriting criteria; and (5) have your loan remain remain
active and in good standing for 90 days after the loan disbursement date. Once
conditions are met and both the loan and SoFi Money account have remained active
and in good standing 90 days following the loan disbursement date, with three
(3) on-time monthly payments, your $250 welcome bonus will be deposited into
your SoFi Money account within approximately 30 calendar days after your third
on-time payment. If you do not qualify for the SoFi Money Account, SoFi will
offer payment via ACH transfer pending completion of a W9 form. Bonuses that are
not redeemed within 60 calendar days of the date they were made available to the
recipient may be subject to forfeit. 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 as
required 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. SoFi reserves the right to
change or terminate the offer at any time with or without notice.
SOFI INVEST +–
INVESTMENTS ARE NOT FDIC INSURED, HAVE NO GUARANTEE, AND MAY LOSE VALUE.
Investing in securities involves risks, and there is always the potential of
losing money when you invest in securities. Past performance, historical
returns, future projections, and statistical forecasts are no guarantee of
future returns or future performance.
SoFi Invest refers to the three investment and trading platforms operated by
Social Finance, Inc. and its affiliates (described below). Individual customer
accounts may be subject to the terms applicable to one or more of the platforms
below.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an
SEC-Registered Investment Adviser (“Sofi Wealth“). Brokerage services are
provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC,
Member FINRA/SIPC, (“Sofi Securities). Clearing and custody of all securities
are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered
Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above,
including state licensure of Sofi Digital Assets, LLC, please visit
www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the
Registered Representatives of SoFi Securities are compensated for the sale of
any product or service sold through any SoFi Invest platform. Information
related to lending products contained herein should not be construed as an offer
or pre-qualification for any loan product offered by SoFi Lending Corp and/or
its affiliates.
IMPORTANT GENERAL INFORMATION
The material provided on SoFi.com is for informational purposes only. Certain
content on the site is based on information prepared by third party sources
which we generally consider reliable, however we do not represent that any such
information is fully accurate or complete. This content is not intended to be
used as a general guide to investing, or as a source of any specific investment
recommendations. We make no implied or express recommendations concerning
investment strategies, the manner in which any client’s account should or would
be managed. As appropriate investment strategies will depend upon each person’s
specific circumstances and investment objectives.
SoFi does not provide tax advice to its clients. All investors are strongly
urged to consult with their tax advisors regarding any potential investment.
The information and analysis provided through hyperlinks to third party
websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are
provided for informational purposes and should not be viewed as an endorsement.
Diversification can help reduce some investment risk. It cannot guarantee
profit, or fully protect in a down market.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the
certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque
design), and CFP® (with flame design) in the U.S., which it awards to
individuals who successfully complete CFP Board’s initial and ongoing
certification requirements.
ACTIVE INVESTING
Instantly access up to $1,000 on first time deposits to eligible new accounts.
Subsequent deposits are not eligible for instant access, even when the initial
deposit is less than $1,000. After the first deposit, fund access times range
from 1-2 business days. Eligibility requirements: 1.) Your bank account must be
linked, verified and approved through our account selection and instant
verification process. Accounts added manually via routing and account number are
not eligible 2.) Your bank account must have a reported balance greater than or
equal to your first deposit.
PERFORMANCE DISCLOSURES: HYPOTHETICAL FUTURE OUTCOMES
Additional Explanatory Notes and Disclosures Related to Performance:
General:
SoFi Wealth, LLC (“SoFi Wealth”) is an SEC registered Investment Adviser.
Information pertaining to SoFi Wealth’s advisory operations, services, and fees
is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure).
The material in this presentation is based on information from a variety of
sources we consider reliable, but we do not represent that the information is
accurate or complete. The material provided herein is for informational purposes
only. SoFi Wealth does not provide tax advice to its clients. All investors are
strongly urged to consult with their tax advisors regarding any potential
investment.
This content is not intended to be used as a general guide to investing, or as a
source of any specific investment recommendations, and makes no implied or
express recommendations concerning the manner in which any client’s account
should or would be handled, as appropriate strategies depend upon the client’s
specific circumstances and investment objectives. The presentation of
performance is neither an offer to sell nor a solicitation of an offer to buy
any securities.
SoFi Indices:
SoFi Wealth constructed the indices presented using a series of widely used
total return asset class-specific indexes that follow a set of rules of
ownership that are typically held constant regardless of market conditions and
that are generally representative of holdings currently maintained in the SoFi
Wealth model portfolios. An important characteristic of an index fund is that
its rules of ownership are not based on a forecast of short-term events.
Therefore, an investment strategy that is limited to the buying and rebalancing
of a portfolio of index funds is often referred to as passive investing, as
opposed to active investing. Simulated index data is based on a combination of
performance of widely used total return asset class-specific indexes and
subjective judgement taking into account the current economic environment.
Performance results assume the reinvestment of dividends and capital gains and
monthly rebalancing at the end of each month. The monthly return is calculated
with the assumption that the SoFi index is perfectly in balance at the end of
each month. In actual SoFi portfolios, rebalancing occurs at no set time, and
such actions are dependent on both market conditions and individual client
liquidity inflows and outflows, along with the cost impact of such transactions
on the overall portfolio.
The performance of the SoFi indices excludes the impact of fees. ETF’s used in
an investment portfolio generally do not minimize tax liabilities from short and
long-term capital gains and any potential resulting tax liability is not
deducted from performance results. SoFi Wealth does not charge transaction fees,
but management fees and other custody related expenses may apply and are not
reflected, which reduce returns.
The underlying holdings of the portfolio are not federally or FDIC-insured and
are not deposits or obligations of, or guaranteed by, any financial institution.
Investing in securities involves investment risks including possible loss of
principal and fluctuation in value.
No taxes are taken into account—chart assumes the account used to invest is a
taxable account that is an ongoing concern throughout the period presented.
Monte Carlo Simulation:
The hypothetical illustrations rely upon a Monte Carlo simulation which provides
thousands of future states of the given investment strategy. The inputs to this
simulation are the forecasted expected return of each investment strategy along
with the anticipated standard deviation of the investment strategy. The expected
return assumptions are based on SoFi Wealth’s Investment Committee’s view on the
macroeconomic environment, historical returns, and forward-looking views and
assumptions. Expected standard deviation is approximated by analyzing the
backtest of the hypothetical returns of the current allocations in each given
investment strategy over the most recent 10-year period, and any forward-looking
views and assumptions. Allocations are assumed constant over the course of the
entire simulation and assumed to be rebalanced on a monthly basis. No trading
costs or taxes are incorporated into the simulation.
These assumptions materially impact the simulations and may change from time to
time at the discretion of the Investment Committee. No assurances can be made
that the assumptions will prove to be accurate. There are many variables that
can affect an investment performance forecast. The most volatile variable is the
expected investment returns, which, historically, vary on a daily basis. Even
with this knowledge, most financial projections use constant investment rates
over the period of the analysis. The use of these averages is used as a start
for the planning process, since the actual values are unknown. Unfortunately,
however, this type of analysis illustrates only one outcome, thereby requiring
that simulation be used to imitate real-life situations. In order to produce
meaningful results, these simulations are processed many times. By varying the
rates of return to simulate the fluctuations that can be experienced in the
marketplace, a more realistic reflection of the anticipated ups and downs of the
investment environment is presented.
These multiple simulations produce a range of results. These results are then
analyzed and probabilities are associated with the outcome. Due to the random
nature in which the simulations are generated and the regular updating of
historical asset class data, the results may vary with each use and over time,
even if the underlying assumptions are not changed.
Important: The projections or other information generated by Monte Carlo
simulations regarding the likelihood of various investment outcomes are
hypothetical in nature, do not reflect actual investment results and are not
guarantees of future results. An investment cannot be made directly into a Monte
Carlo simulation. There are limitations in using a Monte Carlo simulation,
including the analysis is only as good as the assumptions, and despite modeling
for a range of uncertainties in the future, it does not eliminate uncertainty.
The results can be presented various ways, but the ultimate goal of a Monte
Carlo simulation is to educate and communicate about the uncertainty of the
future, so you can make educated decisions about your specific situations.
Key Assumptions:
Strategy Return Volatility Aggressive 6.4% 15.2% Moderately Aggressive 5.6%
12.2% Moderate 4.8% 9.2% Moderately Conservative 3.5% 5.2% Conservative 2.3%
3.4%
Risks:
All investments are subject to risk, which should be considered prior to making
and investment decisions.
Exchange Traded Funds (ETFs)
ETFs are open-end investment companies, unit investment trusts or depository
receipts that hold portfolios of stocks, bonds, commodities and/or currencies
that commonly are designed, before expenses, to closely track the performance
and dividend yield of (i) a specific index, (ii) a basket of securities,
commodities or currencies, or (iii) a particular commodity or currency. The
types of indices commonly sought to be replicated by ETFs most often include
domestic equity indices, fixed income indices, sector indices and foreign or
international indices. ETF shares are traded on exchanges and are traded and
priced throughout the trading day. ETFs permit an investor to purchase a selling
interest in a portfolio of stocks throughout the trading day. Because ETFs trade
on an exchange, they may not trade at NAV. Sometimes, the prices of ETFs may
vary significantly from the NAVs of the ETFs’ underlying securities.
Additionally, if an investor decides to redeem ETF shares rather than selling
them on a secondary market, the investor may receive the underlying securities
which must be sold in order to obtain cash.
Equity:
Equity securities include common stocks, preferred stocks, convertible
securities and mutual funds that invest in these securities. Equity markets can
be volatile. Stock prices rise and fall based on changes in an individual
company’s financial condition and overall market conditions. Stock prices can
decline significantly in response to adverse market conditions, company-specific
events, and other domestic and international political and economic
developments.
Fixed Income:
Fixed income securities include corporate bonds, municipal bonds, other debt
instruments and mutual funds that invest in these securities. Issuers generally
pay a fixed, variable, or floating interest rate, and must repay the amount
borrowed at maturity. Some debt instruments, such as zero-coupon bonds, do not
pay current interest, but are sold at a discount from their face value. Prices
of fixed income securities generally decline when interest rates rise, and rise
when interest rates fall. Longer-term debt and zero-coupon bonds are more
sensitive to interest rate changes than debt instruments with shorter
maturities.
Fixed income securities are also subject to credit risk, which is the chance
that an issuer will fail to pay interest or principal on time. Many fixed income
securities receive credit ratings from Nationally Recognized Statistical Rating
Organizations (NRSROs). These NRSROs assign ratings to securities by assessing
the likelihood of issuer default. Changes in the credit strength of an issuer
may reduce the credit rating of its debt investments and may affect their value.
High-quality debt instruments are rated at least AA or its equivalent by any
NRSRO or are unrated debt instruments of equivalent quality. Issuers of
high-grade debt instruments are considered to have a very strong capacity to pay
principal and interest. Investment grade debt instruments are rated at least Baa
or its equivalent by any NRSRO or are unrated debt instruments of equivalent
quality. Baa rated securities are considered to have adequate capacity to pay
principal and interest, although they also have speculative characteristics.
Lower rated debt securities are more likely to be adversely affected by changes
in economic conditions than higher rated debt securities.
U.S. Government securities include securities issued or guaranteed by the U.S.
Treasury; issued by a U.S. Government agency; or issued by a
Government-Sponsored Enterprise (GSE). U.S. Treasury securities include direct
obligations of the U.S. Treasury, (i.e., Treasury bills, notes and bonds). U.S.
Government agency bonds are backed by the full faith and credit of the U.S.
Government or guaranteed by the U.S. Treasury (such as securities of the
Government National Mortgage Association (GNMA or Ginnie Mae)). GSE bonds are
issued by certain federally-chartered but privately-owned corporations, but are
neither direct obligations of, nor backed by the full faith and credit of, the
U.S. Government. GSE bonds include: bonds issued by Federal Home Loan Banks
(FHLB), Federal Farm Credit Banks (FCS), Federal Home Loan Mortgage Corporation
(FHLMC or Freddie Mac) and the Federal National Mortgage Association (FNMA or
Fannie Mae).
International Securities:
International investments involve additional risks you should be aware of, which
include differences in financial accounting standards, currency fluctuations,
political instability, foreign taxes and regulations, news that can trigger
volatile conditions, and the potential for illiquid markets. Small cap companies
in these markets may react with greater volatility in reaction to activities in
those markets. It is more difficult to obtain reliable information about some
foreign securities. The costs of investing in some foreign markets may be higher
than investing in domestic markets. Investments in foreign securities also are
subject to currency fluctuations.
Definitions:
Asset Class
Asset Class is a standard term that broadly defines a category of investments.
The three basic asset classes are Cash, Bonds (fixed income), and Stocks
(equity). Bonds and Stocks are often further subdivided into more narrowly
defined classes. Some of the most common asset classes are defined below.
Cash and Cash Alternatives
Cash typically includes bank accounts or certificates of deposit, which are
insured by the Federal Deposit Insurance Corporation up to a limit per account.
Cash Alternatives typically include money market securities, U.S. Treasury
Bills, and other investments that are readily convertible to cash, have a stable
market value, and a very short-term maturity. U.S. Treasury Bills are backed by
the full faith and credit of the U.S. Government and, when held to maturity,
provide safety of principal. (See the “Risks Inherent in Investing” section in
this Important Disclosure Information for a summary of the risks associated with
investing in cash alternatives.)
Bonds
Bonds are either domestic (U.S.) or global debt securities issued by either
private corporations or governments. (See the “Risks Inherent in Investing”
section in this Important Disclosure Information for a summary of the risks
associated with investing in bonds. Bonds are also called “fixed income
securities.”) /
Domestic government bonds are backed by the full faith and credit of the U.S.
Government and have superior liquidity and, when held to maturity, safety of
principal. Domestic corporate bonds carry the credit risk of their issuers and
thus usually offer additional yield. Domestic government and corporate bonds can
be sub-divided based upon their term to maturity. Short-term bonds have an
approximate term to maturity of 1 to 5 years; intermediate-term bonds have an
approximate term to maturity of 5 to 10 years; and, long-term bonds have an
approximate term to maturity greater than 10 years.
Stocks
Stocks are equity securities of domestic and foreign corporations. (See the
“Risks Inherent in Investing” section in this Important Disclosure Information
for a summary of the risks associated with investing in stocks.)
Domestic stocks are equity securities of U.S. corporations. Domestic stocks are
often sub-divided based upon the market capitalization of the company (the
market value of the company’s stock). “Large cap” stocks are from larger
companies, “mid cap” from the middle range of companies, and “small cap” from
smaller, perhaps newer, companies. Generally, small cap stocks experience
greater market volatility than stocks of companies with larger capitalization.
Small cap stocks are generally those from companies whose capitalization is less
than $500 million, mid cap stocks those between $500 million and $5 billion, and
large cap over $5 billion.
Large cap, mid cap and small cap may be further sub-divided into “growth” and
“value” categories. Growth companies are those with an orientation towards
growth, often characterized by commonly used metrics such as higher
price-to-book and price-to-earnings ratios. Analogously, value companies are
those with an orientation towards value, often characterized by commonly used
metrics such as lower price-to-book and price-to-earnings ratios.
International stocks are equity securities from foreign corporations.
International stocks are often sub-divided into those from “developed” countries
and those from “emerging markets”. The emerging markets are in less developed
countries with emerging economies that may be characterized by lower income per
capita, less developed infrastructure and nascent capital markets. These
“emerging markets” usually are less economically and politically stable than the
“developed markets”.
PERFORMANCE DISCLOSURES: BACKTESTED RETURNS
Additional Explanatory Notes and Disclosures Related to Performance:
General:
SoFi Wealth LLC (“SoFi Wealth”) is an SEC registered Investment Adviser.
Information pertaining to SoFi Wealth’s advisory operations, services, and fees
is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure).
The material in this presentation is based on information from a variety of
sources we consider reliable, but we do not represent that the information is
accurate or complete. The material provided herein is for informational purposes
only.
SoFi Wealth does not provide tax advice to its clients. All investors are
strongly urged to consult with their tax advisors regarding any potential
investment.
This content is not intended to be used as a general guide to investing, or as a
source of any specific investment recommendations, and makes no implied or
express recommendations concerning the manner in which any client’s account
should or would be handled, as appropriate strategies depend upon the client’s
specific circumstances and investment objectives.
The presentation of performance is neither an offer to sell nor a solicitation
of an offer to buy any securities.
Backtested Performance:
Backtested performance is NOT an indicator of future actual results. The results
reflect performance of a strategy not offered to investors and do NOT represent
returns that any investor actually attained. Backtested results are calculated
by the retroactive application of a model constructed on the basis of historical
data and based on assumptions integral to the model which may or may not be
testable and are subject to losses.
Backtested performance is developed with the benefit of hindsight and has
inherent limitations. Specifically, backtested results do not reflect actual
trading or the effect of material economic and market factors on the
decision-making process. Since trades have not actually been executed, results
may have under- or over-compensated for the impact, if any, of certain market
factors, such as lack of liquidity, and may not reflect the impact that certain
economic or market factors may have had on the decision-making process. Further,
backtesting allows the security selection methodology to be adjusted until past
returns are maximized. Actual performance may differ significantly from
backtested performance. Future returns are not guaranteed and a loss of
principal may occur.
Backtested results are adjusted to reflect the reinvestment of dividends and
other income to rebalance the portfolio and are presented net-of-fees, as
described below. No cash balance or cash flow is included in the calculation.
Results assume that SoFi Wealth would have been able to purchase the securities
recommended by the model and the markets were sufficiently liquid to permit all
trading. Changes in these assumptions may have a material impact on the
backtested returns presented. Certain assumptions have been made for modeling
purposes and are unlikely to be realized. No representations and warranties are
made as to the reasonableness of the assumptions. This information is provided
for illustrative purposes only.
SoFi Indices:
SoFi Wealth constructed the indices presented using a series of ETF’s that
follow a set of rules of ownership that are held constant regardless of market
conditions and that mirror holdings currently maintained in the SoFi Wealth
model portfolios. An important characteristic of an index fund is that its rules
of ownership are not based on a forecast of short-term events. Therefore, an
investment strategy that is limited to the buying and rebalancing of a portfolio
of index funds is often referred to as passive investing, as opposed to active
investing. Simulated index data is based on the performance of live ETF’s.
Performance results assume the reinvestment of dividends and capital gains and
monthly rebalancing at the end of each month. The monthly return is calculated
with the assumption that the SoFi index is perfectly in balance at the end of
each month. In actual SoFi portfolios, rebalancing occurs at no set time, and
such actions are dependent on both market conditions and individual client
liquidity inflows and outflows, along with the cost impact of such transactions
on the overall portfolio.
All of the securities used in the SoFi indices were not available during the
time period presented.
No taxes are taken into account—chart assumes the account used to invest is a
nontaxable account that is an ongoing concern throughout the period presented.
Representative indexing of SoFi Wealth’s conservative strategy underperforms the
associated benchmark due to short duration bias and concentration of fixed
income.
Benchmarks
Benchmarks have been constructed using combinations of MSCI ACWI and the
Bloomberg Barclays Global Aggregate (Dollar Hedged”) Total Return index, blended
to represent the weighting of equity and fixed income allocations maintained in
the associated SoFi Index. Benchmark construction is intended to capture the
approximate equivalent risk between the benchmark and the associated SoFi index.
References to market or composite indices, benchmarks or other measures of
relative market performance over a specified period of time are provided for
your information only. Reference to an index does not imply that we believe a
SoFi Wealth portfolio will achieve returns, volatility or other results similar
to the index. The composition of a benchmark may not reflect the manner in which
a SoFi Index is constructed in relation to expected or achieved returns,
investment holdings, portfolio guidelines, restrictions, sectors, correlations,
concentrations, volatility or tracking error targets, all of which are subject
to change over time.
Performance results assume the reinvestment of dividends and capital gains and
monthly rebalancing at the end of each month. The monthly return is calculated
with the assumption that the benchmark is perfectly in balance at the end of
each month. The performance of the benchmark reflects and is net of the effect
of an assumed “average mutual fund fee” of 52 basis points, which was expressed
in the Morningstar 2017 Fee Study. Although index mutual funds minimize tax
liabilities from short and long-term capital gains, any resulting tax liability
is not deducted from performance results. Performance results also do not
reflect transaction fees and other expenses, which reduce returns. Performance
results assumes the reinvestment of dividends, interest and other earnings and
are time-weighted based on monthly portfolio valuations for all periods.
The volatility of a benchmark index may be materially different from the
individual performance attained by a specific investor. In addition, strategy
holdings may differ significantly from the securities that comprise the index.
The index has not been selected to represent an appropriate benchmark with which
to compare an investor’s performance, but rather is disclosed to allow for
comparison of the SoFi Indices’ performance to that of certain well-known and
widely recognized index. You cannot invest directly in an index.
Key Assumptions:
Portfolio Weights Aggressive Moderately Aggressive Moderate Moderately
Conservative Conservative US Equity 56.0% 44.8% 33.6% 16.8% Developed Ex US
Equity 33.0% 26.4% 19.8% 9.9% EM Equity 11.0% 8.8% 6.6% 3.3% US Aggregate Bonds
13.0% 26.0% 45.5% 65.0% Short-Term US Aggregate Bonds 5.0% 10.0% 17.5% 25.0%
Short-Term TIPS 1.0% 2.0% 3.5% 5.0% US High Yield Bonds 1.0% 2.0% 3.5% 5.0%
Risks:
All investments are subject to risk, which should be considered prior to making
and investment decisions.
Exchange Traded Funds (ETFs)
ETFs are open-end investment companies, unit investment trusts or depository
receipts that hold portfolios of stocks, commodities and/or currencies that
commonly are designed, before expenses, to closely track the performance and
dividend yield of (i) a specific index, (ii) a basket of securities, commodities
or currencies, or (iii) a particular commodity or currency. The types of indices
commonly sought to be replicated by ETFs most often include domestic equity
indices, fixed income indices, sector indices and foreign or international
indices. ETF shares are traded on exchanges and are traded and priced throughout
the trading day. ETFs permit an investor to purchase a selling interest in a
portfolio of stocks throughout the trading day. Because ETFs trade on an
exchange, they may not trade at NAV. Sometimes, the prices of ETFs may vary
significantly from the NAVs of the ETFs’ underlying securities. Additionally,
if an investor decides to redeem ETF shares rather than selling them on a
secondary market, the investor may receive the underlying securities which must
be sold in order to obtain cash.
Equity
Equity securities include common stocks, preferred stocks, convertible
securities and mutual funds that invest in these securities. Equity markets can
be volatile. Stock prices rise and fall based on changes in an individual
company’s financial condition and overall market conditions. Stock prices can
decline significantly in response to adverse market conditions, company-specific
events, and other domestic and international political and economic
developments.
Fixed Income
Fixed income securities include corporate bonds, municipal bonds, other debt
instruments and mutual funds that invest in these securities. Issuers generally
pay a fixed, variable, or floating interest rate, and must repay the amount
borrowed at maturity. Some debt instruments, such as zero-coupon bonds, do not
pay current interest, but are sold at a discount from their face value. Prices
of fixed income securities generally decline when interest rates rise, and rise
when interest rates fall. Longer-term debt and zero-coupon bonds are more
sensitive to interest rate changes than debt instruments with shorter
maturities. Fixed income securities are also subject to credit risk, which is
the chance that an issuer will fail to pay interest or principal on time. Many
fixed income securities receive credit ratings from Nationally Recognized
Statistical Rating Organizations (NRSROs). These NRSROs assign ratings to
securities by assessing the likelihood of issuer default. Changes in the credit
strength of an issuer may reduce the credit rating of its debt investments and
may affect their value. High-quality debt instruments are rated at least AA or
its equivalent by any NRSRO or are unrated debt instruments of equivalent
quality. Issuers of high-grade debt instruments are considered to have a very
strong capacity to pay principal and interest. Investment grade debt instruments
are rated at least Baa or its equivalent by any NRSRO or are unrated debt
instruments of equivalent quality. Baa rated securities are considered to have
adequate capacity to pay principal and interest, although they also have
speculative characteristics. Lower rated debt securities are more likely to be
adversely affected by changes in economic conditions than higher rated debt
securities.
U.S. Government Securities
U.S. Government securities include securities issued or guaranteed by the U.S.
Treasury; issued by a U.S. Government agency; or issued by a
Government-Sponsored Enterprise (GSE). U.S. Treasury securities include direct
obligations of the U.S. Treasury, (i.e., Treasury bills, notes and bonds). U.S.
Government agency bonds are backed by the full faith and credit of the U.S.
Government or guaranteed by the U.S. Treasury (such as securities of the
Government National Mortgage Association (GNMA or Ginnie Mae)). GSE bonds are
issued by certain federally-chartered but privately-owned corporations, but are
neither direct obligations of, nor backed by the full faith and credit of, the
U.S. Government. GSE bonds include: bonds issued by Federal Home Loan Banks
(FHLB), Federal Farm Credit Banks (FCS), Federal Home Loan Mortgage Corporation
(FHLMC or Freddie Mac) and the Federal National Mortgage Association (FNMA or
Fannie Mae).
International Securities
International investments involve additional risks you should be aware of, which
include differences in financial accounting standards, currency fluctuations,
political instability, foreign taxes and regulations, news that can trigger
volatile conditions, and the potential for illiquid markets. Small cap companies
in these markets may react with greater volatility in reaction to activities in
those markets. It is more difficult to obtain reliable information about some
foreign securities. The costs of investing in some foreign markets may be higher
than investing in domestic markets. Investments in foreign securities also are
subject to currency fluctuations.
Definitions:
Asset Class
Asset Class is a standard term that broadly defines a category of investments.
The three basic asset classes are Cash, Bonds (fixed income), and Stocks
(equity). Bonds and Stocks are often further subdivided into more narrowly
defined classes. Some of the most common asset classes are defined below.
Cash and Cash Alternatives
Cash typically includes bank accounts or certificates of deposit, which are
insured by the Federal Deposit Insurance Corporation up to a limit per account.
Cash Alternatives typically include money market securities, U.S. treasury
bills, and other investments that are readily convertible to cash, have a stable
market value, and a very short-term maturity. U.S. Treasury bills are backed by
the full faith and credit of the U.S. Government and, when held to maturity,
provide safety of principal. (See the “Risks Inherent in Investing” section in
this Important Disclosure Information for a summary of the risks associated with
investing in cash alternatives.)
Bonds
Bonds are either domestic (U.S.) or global debt securities issued by either
private corporations or governments. (See the “Risks Inherent in Investing”
section in this Important Disclosure Information for a summary of the risks
associated with investing in bonds. Bonds are also called “fixed income
securities.”) Domestic government bonds are backed by the full faith and credit
of the U.S. Government and have superior liquidity and, when held to maturity,
safety of principal. Domestic corporate bonds carry the credit risk of their
issuers and thus usually offer additional yield. Domestic government and
corporate bonds can be sub-divided based upon their term to maturity. Short-term
bonds have an approximate term to maturity of 1 to 5 years; intermediate-term
bonds have an approximate term to maturity of 5 to 10 years; and, long-term
bonds have an approximate term to maturity greater than 10 years.
Stocks
Stocks are equity securities of domestic and foreign corporations. (See the
“Risks Inherent in Investing” section in this Important Disclosure Information
for a summary of the risks associated with investing in stocks.) Domestic stocks
are equity securities of U.S. corporations. Domestic stocks are often
sub-divided based upon the market capitalization of the company (the market
value of the company’s stock). “Large cap” stocks are from larger companies,
“mid cap” from the middle range of companies, and “small cap” from smaller,
perhaps newer, companies. Generally, small cap stocks experience greater market
volatility than stocks of companies with larger capitalization. Small cap stocks
are generally those from companies whose capitalization is less than $500
million, mid cap stocks those between $500 million and $5 billion, and large cap
over $5 billion.
Large cap, mid cap and small cap may be further sub-divided into “growth” and
“value” categories. Growth companies are those with an orientation towards
growth, often characterized by commonly used metrics such as higher
price-to-book and price-to-earnings ratios. Analogously, value companies are
those with an orientation towards value, often characterized by commonly used
metrics such as lower price-to-book and price-to-earnings ratios.
International stocks are equity securities from foreign corporations.
International stocks are often sub-divided into those from “developed” countries
and those from “emerging markets.” The emerging markets are in less developed
countries with emerging economies that may be characterized by lower income per
capita, less developed infrastructure and nascent capital markets. These
“emerging markets” usually are less economically and politically stable than the
“developed markets”.
Fractional Share:
During market hours, fractional orders will be routed to the market immediately.
Outside of market hours orders will be aggregated and executed in the morning
trade window of the next business day when the market opens. Orders are sent in
the order received. There may be system delays from receipt of your order until
execution. Market conditions may adversely impact execution prices.
INVESTING
The information contained herein does not constitute an offer to sell securities
or a solicitation of an offer to buy securities. Purchases or sales of
securities privately offered by SoFi or its affiliates (the “Securities”) can
only be made by private placement memorandum and related subscription documents,
which will be provided to accredited investors on a confidential basis at their
request for their consideration in connection with such offering. Investment in
the Securities will involve significant risks, including loss of principal. The
Securities will have limited liquidity options, as there is a limited secondary
market for the Securities. None of the information contained in this website
release is a recommendation for investment in any securities. Testimonials may
not be representative of the experience of other investors and are not
indicative of future performance or success. SoFi is not affiliated with or
officially endorsed by any listed universities.
INVESTOR EDUCATION AND PROTECTION
An investor brochure about SoFi Securities, LLC is available on FINRA
BrokerCheck at brokercheck.finra.org. You can also call the BrokerCheck hotline
at (800) 289-9999 Phone number or access the broader FINRA website at
www.finra.org.
CRYPTO INVESTING
NY Residents: While you may submit a consumer complaint directly to SoFi via any
of our channels found in Contact Us; in addition under NY-CRR 23 CRR-NY 200.20;
you may also bring your complaint regarding SoFi Crypto to the attention of the
Department of the Superintendent of Financial Services. You may contact the NY
DFS at:
Address: 1 State St, New York, NY 10004
Phone: (212) 480-6400
https://www.dfs.ny.gov/
SOFI MONEY® +–
SoFi Money® is a cash management account, which is a brokerage product, offered
by SoFi Securities LLC. Member FINRA/SIPC.
1. We work hard to charge no account fees. With that in mind, our fee policy is
subject to change at any time.
2. We’ve partnered with Allpoint to provide you with ATM access at any of the
55,000+ ATMs within the Allpoint network. You will not be charged a fee when
using an in-network ATM. Third party fees incurred when using out-of-network
ATMs are not subject to reimbursement. Accounts opened prior to June 9, 2020
will continue to receive reimbursement for third party ATM fees under our prior
policy. SoFi Securities’ ATM policies are subject to change at our discretion at
any time.
3. As of 7/1/2020, accounts with monthly deposits of $500 or more will earn a
0.25% APY (0.25% interest rate). All other accounts will earn a 0.01% APY.
Accounts opened prior to June 9, 2020, will continue to earn a 0.25% APY
regardless of deposit activity. Interest rates are variable and subject to
change at any time. SoFi Securities reserves the right to change its interest
rate policy at our discretion at any time. Additional information about the
interest earned on your SoFi Money Account can be found at
http://www.sofi.com/legal/money-rate-sheet.
4. Accounts which are eligible to earn a 0.25% APY (including accounts opened
prior to June 9, 2020) will also be eligible to participate in the SoFi Money
Cashback Rewards Program.
The SoFi Money™ World Debit Mastercard® is issued by The Bancorp Bank pursuant
to a license by Mastercard International Incorporated and can be used everywhere
Mastercard is accepted. Mastercard is a registered trademark, and the circles
design is a trademark of Mastercard International Incorporated.
SoFi Securities, LLC does not charge foreign transaction fees when you use your
SoFi Money debit card abroad. However, Mastercard may assess a 0.20% foreign
exchange fee which is not reimbursed.
SOFI RELAY +–
SoFi offers personal tools to view, aggregate, and manage your information from
multiple accounts. The information compiled includes accounts held at SoFi and
at external financial institutions, such as a bank account or a loan serviced by
another institution. SoFi offers these tools under the product name brand of
“Relay.” If you elect to connect an external account in Relay, you authorize
SoFi to obtain information from the Connected Account external account and use
it as described below (“Connected Accounts”). SoFi’s Relay tools are intended to
only provide organizational services for your financial information. The SoFi
Relay tools and services are not intended to provide any financial planning,
investment, tax, or retirement planning services or advice. SoFi does NOT
undertake any review of your account information to provide you with any advice
or guidance. SoFi does not make any determination about the suitability or
appropriateness of any transactions you might undertake at SoFi or elsewhere. If
you elect to use Relay, you are fully and solely responsible for your accounts
and agree SoFi’s only role is to aggregate compile data to information for
presentment to you.
SoFi also offers you the opportunity to obtain your credit score from a single
credit reporting agency for the purpose of allowing you to monitor your credit
score. Obtaining the service also enables SoFi to offer you additional tools
related to your credit information. When you elect to use credit score
monitoring, you agree to the following terms and conditions:
● You authorize and instruct SoFi to obtain your full credit reporting
information from a credit reporting agency on a regular recurring basis (e.g.,
weekly) until such time that you terminate the Credit Score Monitoring. Please
see FAQ’s for the process to terminate the service.
● SoFi’s service includes present your credit score and other elements in your
credit report to you. SoFi does NOT undertake any responsibility to monitor your
credit report for activity, identify theft, or any other actions. SoFi’s service
enables YOU to monitor your credit score.
● The credit score obtained by SoFi and presented to you is for your own use and
for your education.
● The credit score is obtained from a single credit reporting agency and may be
different from the credit reporting information used by other institutions or
lenders or creditors.
● If SoFi provides any simulations or hypothetical estimates of credit score
changes, these are for educational purposes only and are not a guarantee of any
outcome.
● SoFi will obtain and keep your credit reporting information and use it for the
purposes permitted in SoFi’s Privacy Notice. SoFi’s uses of you information may
include:
– SoFi may use your credit information to serve targeted advertisements to you
and other communication based on your information.
– SoFi may present offers to you for other SoFi products and services using your
credit information to identify if you are likely to be eligible or interested.
– SoFi may use your credit information for statistical analysis to improve SoFi
products and services.
● You may obtain your own credit report without using SoFi. You have the right
to a free credit report from the website AnnualCreditReport.com or by calling
(877)322-8228.
● SoFi is not a credit reporting agency or a credit repair company. SoFi does
not and will not undertake any credit repair on your behalf. To the extent SoFi
offers you any suggestions regarding improving credit scores or any simulation
of your score based upon assumptions, such information is for your education and
consideration, and is not intended to be financial advice.
Connected Accounts SoFi offers products and services that allow you to “connect”
or “link” external accounts, such as a bank account, a loan, or a credit card
account held at another institution. You agree to the following terms and
conditions when you connect an account at another institution:
● If you elect to connect or link any such account at another institution, we
refer to it as a “Connected Account.”
● SoFi will obtain your account information. If you elect to connect an external
account to SoFi, SoFi will obtain information from the Connected Accounts. The
specific information SoFi obtains may vary by institution and account type. You
should assume SoFi will obtain from the account any information that is
available to you. For example, if you connect a bank account to SoFi’s Relay
tool (described below), SoFi can collect any information from the account,
including balance and transaction information, such as amount of payments,
debits, and deposits. If you connect a loan account at an external institution,
SoFi can collect loan balance, interest rate on the loan, and your payment
history.
● Use of Connected Information. If you elect to connect an account through any
SoFi service, SoFi may use the information from the connected account for any
purpose permitted by SoFi’s Privacy Policies, including use of the information
to identify products and services that may be of interest to you, sharing
information with affiliated companies to offer products and services to you, and
identifying if you would be likely to be eligible for certain products and
services.
● Use of Plaid Services. To connect an account, SoFi requires you to use a
service offered by Plaid Inc. (“Plaid”). By using this Services, you acknowledge
and agree that Plaid’s Privacy Policy[1] will govern Plaid’s use of information
it collects about you or that you provide to Plaid, and you expressly agree to
the terms and conditions of Plaid’s Privacy Policy. Further, you expressly grant
Plaid the right, power, and authority to access and transmit your information as
reasonably necessary for Plaid to provide the Services to you. To the extent you
previously utilized account linking and aggregation services through SoFi’s
previous service provider, Quovo, Inc., you expressly authorize Quovo, Inc. to
transmit any information or data in connection with those services to Plaid so
that Plaid can offer you its account linking and aggregation Services.
● To obtain information from Connected Account, SoFi Acts as Your Agent. If you
elect to connect an external account to SoFi, SoFi will connect to the account
and obtain information at your direction and as your agent. SoFi does not
warrant that the information obtained from the external account is accurate,
complete, or non-infringing.
SOFI CHECKING AND SAVINGS ACCOUNTS +–
The SoFi Checking Account and the SoFi Savings Account are deposit accounts
offered by SoFi Bank, N.A (“SoFi Bank”), a member of FDIC and a wholly owned
subsidiary of Social Finance, Inc. Only deposit products offered by SoFi Bank
are FDIC insured.
1. We work hard to charge no account fees. With that in mind, our fee policy is
subject to change at any time.
2. We’ve partnered with Allpoint to provide you with ATM access at any of the
55,000+ ATMs within the Allpoint network. You will not be charged a fee when
using an in-network ATM. Third party fees incurred when using out-of-network
ATMs are not subject to reimbursement. SoFi Bank’s ATM policies are subject to
change at our discretion at any time.
3. SoFi members with direct deposit can earn up to 1.25% annual percentage yield
(APY) interest on all account balances in their Checking and Savings accounts
(including Vaults). Members without direct deposit will earn 0.70% APY on all
account balances in Checking and Savings (including Vaults). Interest rates are
variable and subject to change at any time. Rate of 1.25% APY is current as of
04/05/2022. Additional information can be found at
http://www.sofi.com/legal/banking-rate-sheet
4. Customers that have monthly direct deposit activity into their SoFi Checking
or Savings accounts will also be eligible to participate in the SoFi Money
Cashback Rewards Program.
The SoFi Bank World Debit Mastercard® is issued by The Bancorp Bank pursuant to
a license by Mastercard International Incorporated and can be used everywhere
Mastercard is accepted. Mastercard is a registered trademark, and the circles
design is a trademark of Mastercard International Incorporated.
SoFi Bank does not charge foreign transaction fees when you use your SoFi Bank
debit card abroad. However, Mastercard may assess a 0.20% foreign exchange fee
which is not reimbursed.
MEMBER BENEFITS & PROGRAMS
MEMBER RATE DISCOUNT +–
ELIGIBILITY
SoFi customers (“members”) may be eligible for a Member Rate and/or a $500 Loan
Processing Fee Discount ($1,495 Non Member) on certain loan types if they meet
the eligibility criteria and any other applicable terms and conditions. SoFi
reserves the right to discontinue or modify the Member Rate and/or Loan
Processing Fee Discounts at any time and without notice. Such changes or
modifications will only apply to applications begun after the effective date of
the change. If you’ve got questions about how we do our thing, we’ve got answers
in our FAQs.
SOFI LOAN ACCOUNT HOLDERS
Existing eligible SoFi Members with a SoFi Personal Loan, Student Loan or who
maintain a minimum balance of $10,000 in their SoFi Invest account and take out
a new loan of a different product type will receive a 0.125% Interest Rate
Discount on that new Personal or Student loan (home loans are not eligible for
interest rate or auto pay discounts).
Existing eligible SoFi Members with a SoFi Personal Loan, Student Loan or who
have a $50,000 minimum balance in their SoFi Invest account, can receive a $500
discount on SoFi’s Home Loan Processing Fee ($1,495 Non Members) on their first
mortgage with SoFi.
The Member Rate and/or Loan Processing Fee Discounts are only offered on new
loans of a different type from loans previously or currently held by members,
thus it would not apply to another loan of the same type, and does not apply
more than once per product. For example, an existing or prior SoFi Personal Loan
borrower is not eligible to receive the Member Rate Discount on a second SoFi
Personal Loan.
SOFI MONEY® ACCOUNT HOLDERS
SoFi Money members with no SoFi loan accounts are eligible to receive the Member
Rate Discount on a new SoFi Personal Loan, Student Loan Refinance, or SoFi
Private Student Loan if they have an account balance of greater than $0 at the
time of the application for the new loan.
SOFI INVEST ACCOUNT HOLDERS
SoFi Invest members with no SoFi loan accounts are eligible to receive the
Member Rate Discount on a new loan if the member’s existing SoFi Invest account
meets minimum balance criteria described below at the time of the application
for the new loan.
SoFi Invest members are eligible to receive the Member Rate Discount on a SoFi
Personal Loan, Student Loan Refinance, or Private Student Loan if they have a
minimum balance of $10,000 in their SoFi Invest accounts at the time they begin
their loan application. SoFi home loans are not eligible for rate discounts.
SoFi Invest members are eligible to receive the Member Fee Discount of $500 on a
SoFi Home Loan ($1,495 Non Member) if they have and maintain a minimum balance
of $50,000 in their SoFi Invest accounts at the time they begin their SoFi Home
Loan application.
The umbrella term “SoFi Invest” refers to the three investment and trading
platforms operated by Social Finance, Inc. and its affiliates (described below).
Individual customer accounts may be subject to the terms applicable to one or
more of the platforms below:
1) Automated Investing: The Automated Investing platform is owned by SoFi Wealth
LLC, an SEC Registered Investment Advisor (“Sofi Wealth”). Brokerage services
are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC
registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing: The Active Investing platform is owned by SoFi Securities
LLC. Clearing and custody of all securities are provided by APEX Clearing
Corporation.
3) Digital Assets: The Digital Assets platform is owned by SoFi Digital Assets,
LLC, a FinCEN registered Money Service Business.
STANDARDS AND LIMITATIONS
Member Rate Discount cannot be combined with other rate discounts, such as a
corporate rate discount, with the exception of the 0.25% autopay rate discount
as applicable. SoFi home loans are not eligible for rate or auto pay discounts.
SoFi reserves the right to change or terminate the Member Rate Discount to
unenrolled participants at any time with or without notice.
Your SoFi products are linked by the email address you entered at registration.
To ensure you receive the benefit(s) you are eligible for, please use the email
address already associated with your other SoFi products. Please do not use more
than one email address. If you no longer have access to the email account
registered with SoFi, please contact your loan representative for assistance.
MEMBER REFERRAL PROGRAM +–
SoFi’s Referral Program (“Program”) is open to all individuals who reside
outside of Vermont. If the cumulative welcome and referral bonus rewards paid to
an individual in one calendar year exceed $599, then Form W-9 may be required to
be completed prior to funds disbursement. You are responsible for any applicable
federal, state, or local taxes associated with receiving the bonus offer;
consult your tax advisor to determine applicable tax consequences. Any payments
or items not claimed due to missing or incorrect shipping, tax, or bank account
information may be subject to forfeit after 180 days of issuance. SoFi reserves
the right to change or eliminate the Program at any time with or without notice.
Additional terms and conditions apply; see SoFi.com/Refer-a-Friend for Official
Rules.
Lifetime referral bonus payment calculation is based on the total funds paid or
pending payment to SoFi referral members who earned one or more welcome bonuses
through the referral program between 12/10/14 – 1/30/2017, regardless of whether
the funds have been disbursed.
MEMBER REWARDS +–
Terms and conditions apply. This offer is only available to SoFi users who
received this communication. It is non-transferable. One offer per person. To
receive the Rewards points offer, you must successfully open three products
(SoFi Money, SoFi Invest, and Credit Score Monitoring) by Saturday, October 2 at
11:59p PT. Rewards points will be awarded within 10 business days of promotion
ending. Rewards points may only be redeemed into SoFi accounts such as cash in
SoFi Money, SoFi credit cards or eligible SoFi loans, and fractional shares and
cryptocurrency into SoFi Active Invest. This offer is subject to program terms
that may be found here: SoFi Member Rewards Terms and Conditions. When redeemed
into the SoFi credit card, Rewards points are worth half. SoFi reserves the
right to modify or discontinue this offer at any time without notice.
WELCOME BONUS +–
Terms and conditions apply. Offer is subject to lender approval and not
available to residents of Ohio. To receive the offer, you must: (1) register
and/or apply through the referral link you were given; (2) complete a loan
application with SoFi; (3) have and provide a valid US bank account to receive
bonus; (4) and meet SoFi’s underwriting criteria. Once conditions are met and
the loan has been disbursed, you will receive your welcome bonus via automated
clearing house (ACH) into your checking account within 30 calendar days. Bonuses
that are not redeemed within 180 calendar days of the date they were made
available to the recipient may be subject to forfeit. 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 as required 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. SoFi
reserves the right to change or terminate the offer at any time with or without
notice.
Lifetime welcome bonus payment calculation is based on the total funds paid or
pending payment to SoFi members who earned a welcome bonus through the referral
program between 12/10/14 – 1/30/2017, regardless of whether the funds have been
disbursed.
EMPLOYER CONTRIBUTION PROGRAM +–
SoFi provides a service to employers to facilitate the employer making
contributions to their employees’ student loan accounts. If you are an employee
participating in your employer’s program, you must agree to SoFi’s Terms of Use,
privacy notice, and other terms and conditions at registration.
Employer contributions to an employee’s student loan can save the employee money
by paying-down the principal and reducing interest costs over the life of the
loan that accrues on the outstanding balance or by paying-off the loan sooner.
On our website and in materials, we refer to “lifetime savings” employees might
realize from an employer’s contribution. The actual amount saved for any
individual will depend upon many factors, such as the interest rate of the loan,
the amount and frequency of the employer’s contribution, and how long the loan
remains unpaid. We offer estimates of savings to illustrate how an employer
contribution can deliver substantial value to the employee over time.
CAMPUS RELATIONS +–
11. The Financial Education Awareness Council (FEAC) is a group of experienced
and passionate financial aid administrators that have volunteered to assist SoFi
with our financial education efforts. Their participation in FEAC does not imply
any endorsement or recommendation of SoFi on behalf of their schools. None of
the FEAC representatives are compensated by SoFi. *To check the rates and terms
you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit
inquiries, soft credit inquiries (or soft credit pulls) do not impact your
credit score. Soft credit inquiries allow SoFi to show you what rates and terms
SoFi can offer you up front. After seeing your rates, if you choose a product
and continue your application, we will request your full credit report from one
or more consumer reporting agencies, which is considered a hard credit inquiry.
Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to
issue you a loan. In addition to requiring your explicit permission, these
credit pulls may impact your credit score.
ENTREPRENEUR PROGRAM +–
10. Any unpaid interest will be capitalized and added to your principal balance
at the end of the deferment period. Maximum deferment period is six months.
ESTATE PLANNING +–
SoFi offers customers the opportunity to reach Ladder Insurance Services, LLC to
obtain information about estate planning documents such as wills. Social
Finance, Inc. (“SoFi”) will be paid a marketing fee by Ladder when customers
make a purchase through this link. All services from Ladder Insurance Services,
LLC are their own. Once you reach Ladder, SoFi is not involved and has no
control over the products or services involved. The Ladder service is limited to
documents and does not provide legal advice. Individual circumstances are unique
and using documents provided is not a substitute for obtaining legal advice.
LICENSES
CONSUMER LENDING +–
SoFi Lending Corp. or an affiliate holds consumer lending licenses in the
following states:
State License License Type Alabama 21983 Consumer Credit California 6054612 /
NMLS # 1121636 Financing Law
DBO Student Loan Servicing License Colorado 993397
600030 Supervised Lender
Student Loan Servicer Delaware 30278 Lender DC MLB1121636 Money Lenders — Class
A Idaho RRL-9120 Regulated Lender Illinois CI0004420
SLS.0000037 Installment Loan
Student Loan Servicer License Indiana 18090 Consumer Credit Iowa NRR 2014-0096
Regulated Loan Kansas SL.0026686 Supervised Lender Louisiana 1121636 Licensed
Lender Maine 1121636 Supervised Lender Maryland 1421 Consumer Loan Michigan
RL-0019084 Regulatory Loan
Effective date 1/1/2014
Office of Consumer Finance
Michigan Department of Insurance and Financial Services
530 W. Allegan St. 7th Floor, Lansing MI 48933
Toll-Free: 877-999-6442 Minnesota RL-167 Regulated Loan Co. Missouri 367-19-7215
. PDF File Consumer Credit Loan Co. Montana 1121636 Consumer Loan Nevada IL11055
& IL11056 Installment Loan North Dakota 1121636 Money Broker Oklahoma SL008481
Supervised Lender Oregon 0436-001-C Consumer Finance Pennsylvania 42140 Consumer
Discount Co. Rhode Island 20193859SS
20153065LL Student Loan Servicer Registration
Licensed Lender South Carolina S-9142 . PDF File &
S-8903 . PDF File Supervised Lender (Consumer Rights Responsibilities Pamphlet .
PDF File )
Supervised Lender (Website License) South Dakota MYL.3015 Money Lending Licenses
Tennessee 3745 Industrial Loan & Thrift License Texas 154481 Regulated Lender
License Vermont 6705 Lender Washington CL-1121636 Consumer Loan Wyoming SL-3872
Consumer Loan
STUDENT LOAN SERVICER +–
SoFi Lending Corp. or an affiliate holds student loan servicer licenses in the
following states:
State License License Type California – Student Loan Servicer Connecticut
CTSTUDENTLNSERVICER_C-1121636 Student Loan Servicer Illinois SLS.0000037 Student
Loan Servicer Maine 1121636 Student Loan Servicer Minnesota MN-SLS-1121636
Student Loan Servicer New Jersey – Student Loan Servicer New York SLS10021
Student Loan Servicer Rhode Island 20193869SS Student Loan Servicer Registration
Virginia ES-3 Virginia Qualified Education Loan Servicer License
MORTGAGE LENDING +–
SOFI LENDING CORP. OR AN AFFILIATE MORTGAGE STATE LICENSING DETAILS
SoFi Lending Corp. or an affiliate is an Equal Housing Lender. As prohibited by
federal law, we do not engage in business practices that discriminate on the
basis of race, color, religion, national origin, sex, marital status, age
(provided you have the capacity to enter into a binding contract), because all
or part of your income may be derived from any public assistance program, or
because you have, in good or an affiliatefaith, exercised any right under the
Consumer Credit Protection Act. The federal agency that administers our
compliance with these federal laws is the Federal Trade Commission, Equal Credit
Opportunity, Washington, DC, 20580. (www.nmlsconsumeraccess.org Opens A New
Window. )
SoFi Lending Corp. or an affiliate is currently able to issue and refinance
mortgages in the following states:
ALABAMA
Consumer Credit License No. 21983
ALASKA
Mortgage Broker/Lender License #AK1121636
For Alaska Residents Only:
If your issue is unresolved by SoFi Lending Corp. & (866) 357-6342, please
submit formal complaints with the State of Alaska, Division of Banking &
Securities.
Please download the form
here:https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf
. PDF File .
Submit formal complaint form with supporting documents:
Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807.
If you are an Alaska resident with questions regarding formal complaints, please
email us at dbs.licensing@alaska.gov or call Nine Zero Seven Four Six Five Two
Five Two One.
ARIZONA
Mortgage Banker License #BK-0934275;
SoFi Lending Corp. or an affiliate
1035 W. Queen Creek Rd Ste 101
Chandler, AZ 85248
ARKANSAS
SoFi Lending Corp. or an affiliate
201 East Markham Suite 300
Little Rock, AR 72201
(501) 324-9260
CALIFORNIA
Licensed by the Department of Financial Protection and Innovatiom under the
California Financing Law License No. 6054612/NMLS # 1121636
COLORADO
Mortgage Company Registration License: 1121636
CONNECTICUT
Licensed by the Connecticut Department of Banking – Mortgage Lender License #
ML-1121636
DELAWARE
Delaware Lender License # 30278
DISTRICT OF COLUMBIA
Mortgage Dual (Lender & Broker) Authority License No. MLB 1121636
FLORIDA
Mortgage Lender Servicer License # MLD1108
GEORGIA
Georgia Mortgage Lender License No. 42010
IDAHO
Mortgage Broker/Lender License: MBL-8673
ILLINOIS
Illinois Residential Mortgage Licensee License No. MB.6761063
Department of Financial and Professional Regulation Division of Banking
100 West Randolph, 9th Floor
Chicago, IL 60601
General Inquiry Inquiries: 1-888-473-4858
Division of Banking Direct: 1-844-768-1713
TYY: 1-866-325-4949
INDIANA
First Lien Mortgage Lending License No. 25660
IOWA
Mortgage Banker License: 2019-0054
KANSAS
Mortgage Company License: MC.0025600
KENTUCKY
Mortgage Company License: MC701438
LOUISIANA
SoFi Lending Corp. or an affiliate, Louisiana Residential Mortgage Lending
License
MAINE
Supervised Lender License NMLS # 1121636
MARYLAND
Maryland Mortgage Lender License # 21585
MASSACHUSETTS
Massachusetts Mortgage Lender and Mortgage Broker License # MC1121636
MICHIGAN
Michigan 1st Mortgage Broker/Lender Registrant FR0020980
MINNESOTA
Residential Mortgage Originator License # MN-MO-1121636
MISSISSIPPI
SoFi Lending Corp. or an affiliate
Post Office Box 12129
Jackson, Mississippi 39236
MONTANA
Licensed by the Montana Division of Banking and Financial institutions, Montana
Mortgage Lender License # 1121636
NEBRASKA
NMLS # 1121636
(877) 471-3445
NEVADA
Mortgage Broker License #4635
2750 E Cottonwood Parkway, Suite 300 Cottonwood Heights, UT 84121
Toll Free Number: 866-357-6342
NEW HAMPSHIRE
Mortgage Banker License 23682-MB
NEW JERSEY
Licensed by the New Jersey Department of Banking and Insurance Residential
Mortgage Lender License 1121636 and RMLA-Licensed Mortgage Servicer Registration
NORTH CAROLINA
Mortgage Lender License No. L-160812
NORTH DAKOTA
Money Broker License No. MB102764
OHIO
NMLS # 1121636
Residential Mortage Lending Act Certificate of Registration: RM.804475.000
OKLAHOMA
NMLS Number: 1121636
Mortgage Lender License: ML012338
OREGON
Mortgage Lending License #ML-5418
PENNSYLVANIA
Licensed by the Pennsylvania Department of Banking Mortgage Lender License No.
46311
RHODE ISLAND
Rhode Island Lender License # 20153065LL
SOUTH CAROLINA
Licensed by the South Carolina State Board of Financial Institutions,
Lender/Servicer License # MLS — 1121636
Licensed by the South Carolina State Board of Financial Institutions,
Lender/Servicer License-Other Trade Name # MLS — 1121636 OTN #1
SOUTH DAKOTA
Mortgage Lender License ML.05296
TENNESSEE
Tennessee Mortgage Lending License # 127518
TEXAS
License # 1121636. Consumers wishing to file a complaint against a mortgage
company or a licensed mortgage company residential mortgage loan originator
should complete and send a complaint form to the Texas Department of Savings and
Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint
forms and instructions may be obtained from the department’s website at
WWW.SML.TEXAS.GOV. A toll-free consumer hotline is available at 1-877-276-5550.
The department maintains a recovery fund to make payments of certain actual out
of pocket damages sustained by borrowers caused by acts of licensed mortgage
company residential mortgage loan originators. A written application for
reimbursement from the recovery fund must be filed with and investigated by the
department prior to the payment of a claim. For more information about the
recovery fund, please consult the department’s website at WWW.SML.TEXAS.GOV. The
department maintains the mortgage broker recovery fund to make payments of
certain actual out of pocket damages sustained by borrowers caused by acts of
licensed residential mortgage loan originators. A written application for
reimbursement from the recovery fund must be filed with and investigated by the
department prior to the payment of a claim. For more information about the
recovery fund, please consult Subchapter F of the Mortgage Broker License Act on
the department’s web at WWW.SML.TEXAS.GOV. SoFi Lending Corp. or an affiliate
maintains a physical branch office location at 401 E. Corporate Drive, Suite 245
Lewisville, TX 75057.
UTAH
Licensed by the Utah Department of Real Estate, Utah-DRE mortgage Entity License
# 10293902.
Licensed by the Utah Department of Real Estate, Utah-DRE Mortgage Entity
License-Other Trade Name #1 #9223125. Utah-DRE Mortgage Branch Office # 10293918
VERMONT
Licensed by the Vermont Banking Division — Lender License # 6705
VIRGINIA
Licensed by the Virginia Bureau of Financial Institutions – Lender License #
MC-5906; NMLS ID 1121636. (www.nmlsconsumeraccess.org Opens A New Window. ).
Notice for refinancing customers: as a result of refinancing, the total finance
charge over the life of the loan may be higher.
WASHINGTON
Consumer Loan Company License CL-1121636
WEST VIRGINIA
Mortgage Lender License ML-1121636
WISCONSIN
Mortgage Banker License 1121636BA
WYOMING
Wyoming Mortgage Lender License # 2659
LIFE INSURANCE +–
SOCIAL FINANCE LIFE INSURANCE AGENCY STATE LICENSES
Social Finance Life Insurance Agency LLC holds life insurance agency licenses in
the following states:
State License Number Alabama 773152 Alaska 100135885 Arizona 1800015603 Arkansas
100161658 California 0L13077 Colorado 519092 Connecticut 2535731 Delaware
3000027212 Florida L097765 Washington, D.C. 3098049 Georgia 191708 Hawaii 444833
Idaho 588933 Illinois 200781196 Indiana 3189520 Iowa 1002279025 Kansas
611797079-000 Kentucky 931183 Loiusiana 707821 Maine AGN275435 Maryland
3000035395 Massachusetts 2115539 Michigan 110767 Minnesota 40494303 Mississippi
15030343 Missouri 8388434 Montana 100159259 Nebraska 100257107 Nevada 3189525
New Hampshire 2352445 New Jersey 1622442 New Mexico 1800012653 New York
LA-1444252 North Carolina 1000496026 North Dakota 3000030205 Ohio 1280399
Oklahoma 100271523 Oregon 100297507 Pennsylvania 790122 Rhode Island 3000774019
South Carolina 1912000536 South Dakota 10019195 Utah 10019195 Vermont 3189669
Virginia 140604 Texas 2524041 Washington 930875 Wisconsin 100216955 West
Virginia 100229069 Wyoming 321451
CRYPTO +–
State License Type License State Agency Alabama SC Money Transmitter License 628
Alabama Securities Commission
401 Adams Avenue, Suite 280
Montgomery, AL 36104 Alaska Money Transmitter License 011394 Department of
Commerce, Community and Economic Development
Division of Banking & Securities
333 Willoughby Avenue, 9th Floor
State Office Building
Juneau, AK 99801
Arizona Money Transmitter License 0950284 Arizona Department of Financial
Institutions
2910 N. 44th Street, Suite 310
Phoenix, AZ 85018 Arkansas Money Transmitter License 115839 Arkansas Securities
Department
Heritage West Building, Suite 300
201 East Markham Street
Little Rock, AR 72201-1692 Connecticut Money Transmission License MT-1770414
Agency: Connecticut Department of Banking
260 Constitution Plaza
Hartford, CT 06103-1800 Delaware Money Transmitter License 027270 Office of the
State Bank Commissioner
555 E. Loockerman Street, Suite 210
Dover, DE 19901 District of Columbia Money Transmitter License MTR1770414
Department of Insurance, Securities, and Banking
810 First Street, NE, Suite 701
Washington, District of Columbia 20002 Florida Money Services Businesses Part II
FT230000234 Florida Office of Financial Regulation
101 E. Gaines Street
Tallahassee, FL 32399 Georgia Money Transmitter License 65444 Georgia Department
of Banking and Finance
Money Services Businesses
2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565 Hawaii Digital Currency Digital Currency Innovation Lab
(DCIL) Participant Digital Currency Innovation Lab in partnership with Hawaii
Division of Financial Institutions
521 Ala Moana Blvd., #225
Honolulu, HI 96813 Idaho Money Transmitters MTL-241 Idaho Department of Finance,
Securities Bureau
800 Park Boulevard, Suite 200
Boise, ID 83720-0031 Illinois Money Transmitter License MT.0000342 Department of
Financial and Professional Regulation
Consumer Credit Section
100 West Randolph Street 9-100
Chicago, IL 60601 Iowa Money Services License 2019-0018 State of Iowa Division
of Banking
200 E. Grand Avenue, Suite 300
Des Moines, IA 50309 Kansas Money Transmitter License MT.0000150 Kansas Office
of the State Bank Commissioner
700 SW Jackson Street, Suite 300
Topeka, KS 66603 Kentucky Money Transmitter License SC700850 Kentucky Department
of Financial Institutions
1025 Capital Center Drive, Suite 200
Frankfort, KY 40601 Maine Money Transmitter License NMT1730730 Department of
Professional & Financial Regulation
Bureau of Consumer Credit Protection
76 Northern Avenue
Gardiner, ME 04345 Maryland Money Transmitter License 12-1770414 Commissioner of
Financial Regulation
Attn: Licensing Unit
500 N Calvert Street, Suite 402
Baltimore, Maryland 21202 Michigan Money Transmitter License MT0021850 Michigan
Department of Insurance and Financial Institutions
PO Box 30220
Lansing, MI 48909-7720 Minnesota Money Transmitter License MN-MT-1770414
Minnesota Department of Commerce
85 7th Place East, Suite 280
Saint Paul, MN 55101 Nebraska Money Transmitter License 1770414 Nebraska
Department of Banking & Finance
1526 K Street, Suite 300
Lincoln, NE 68508-2732 Nevada Money Transmitter License MT11130 State of Nevada
Financial Institutions Division Department of Business and Industry
1830 E College Pkwy
Carson City, NV 89706 New Jersey Money Transmitter License 1803757 C22 State of
New Jersey
Department of Banking and Insurance, Licensing Services Bureau—Banking
PO Box 473
Trenton, NJ 08625-0473 New Mexico Money Transmission License 1770414 New Mexico
Financial Institutions Department Mortgage Unit
2550 Cerrillos Road, 3rd Floor
PO Box 25101 (87504)
Sante Fe, NM 87505 New York Money Transmitter License (Pending) New York State
Department of Financial Services
One State Street
New York, NY 10004 New York Virtual Currency License (Pending) New York State
Department of Financial Services
One State Street
New York, NY 10004 North Carolina Money Transmission License 182104 North
Carolina Commissioner of Banks
316 W. Edenton Street
Raleigh, NC 27603 North Dakota Money Transmitter License MT103410 North Dakota
Department of Financial Institutions
2000 Schafer Street, Suite G
Bismark, ND 58501 Ohio Transmitter License OHMT170 Ohio Division of Financial
Institutions
77 South High Street, 21st Floor
Columbus, OH 43215 Oklahoma DOB Money Transmission License OKDOB001 Oklahoma
Department of Banking
2900 North Lincoln Bouldevard
Oklahoma City, OK 73105 Oregon Money Transmitter License 30216 Oregon Department
of Consumer and Business Services
Division of Finance and Corporate Securities
PO Box 14480, 350 Winter St., NE, Suite 410
Salem, Oregon 97309-0405 Rhode Island Money Transmitter License 20204059CT
Department of Business Regulation
Division of Banking
1511 Pontiac Avenue, Building 68-1
Cranston, Rhode Island 02920 South Dakota Money Transmitter License MT.2160
South Dakota Department of Labor and Regulation
Division of Banking
1601 N. Harrison Avenue, Suite 1
Pierre, South Dakota 57501 Tennessee Money Transmitter License 1770414 Tennessee
Department of Financial Institutions
312 Rosa L. Parks Avenue, 26th Floor
Nashville, TN 37243 Vermont Money Transmitter 100-130 Vermont Department of
Financial Regulation
89 Main Street
Montpelier, VT 05620 Washington Money Transmitter (includes Currency Exchange)
550-MT-116232 State of Washington — Department of Financial Institutions
Division of Consumer Services
150 Israel Road, S.W.
Tumwater, WA 98501 West Virginia Money Transmitter WVMT-1770414 Division of
Financial Institutions
900 Pennsylvania Avenue
Suite 306 Charleston, WV 25302 Wisconsin Seller of Checks 194-SOC Wisconsin
Department of Financial Institutions
Division of Banking
P.O.Box 7876
Madison, WI 53707-7876
State Disclosures Alaska Please note that this license does not cover the
transmission of virtual currency.
For Alaska Residents Only:
If your issue is unresolved by SoFi Digital Assests, LLC & (855) 456-7634,
please submit formal complaints with the State of Alaska, Division of Banking &
Securities.
Please download the form here:
https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf
. PDF File
Submit formal complaint form with supporting documents:
Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807
If you are an Alaska resident with questions regarding formal complaints, please
email us at dbs.licensing@alaska.gov or call Nine Zero Seven Four Six Five Two
Five Two One California If you have complaints with respect to any aspect of the
money transmission activities conducted by SoFi Crypto, you may contact the
California Department of Financial Protection and Innovation at its toll-free
telephone number, 1-866-275-2677, by email at Ask.DFPI@dfpi.ca.gov, or by mail
at the Department of Financial Protection and Innovation, Consumer Services,
1515 K Street, Suite 200, Sacramento, CA 95814.
Payment instruments are not backed by the government, and balances are not
insured against theft or loss by the Federal Deposit Insurance Corporation, the
Securities Investor Protection Corporation, or any other government agency.
Colorado Entities other than FDIC insured financial institutions that conduct
money transmission activities in Colorado, including the sale of money orders,
transfer of funds, and other instruments for the payment of money or credit, are
required to be licensed by the Colorado Division of Banking pursuant to the
Money Transmitters Act, Title 11, Article 110, Colorado Revised Statutes.
If you have a Question about or Problem with your transaction, you must contact
SoFi Crypto for assistance at (855) 456-7634 or email at cryptosupport@sofi.com.
The Division of Banking does not have access to this information.
If you are a Colorado Resident and have a Complaint about SoFi Crypto, please
fill out the Complaint Form provided on the Colorado Division of Banking’s
website and return it and any documentation supporting the complaint via mail or
email to the Division of Banking at: Colorado Division of Banking 1560 Broadway,
Suite 975 Denver, CO 80202
Email: DORA_BankingWebsite@state.co.us
website. Florida NOTICE: By the Florida Office of Financial Regulation
BY GRANTING COINBASE A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS
NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES.
* U.S. currency is legal tender backed by the U.S. government.
* Digital and virtual currencies are not issued or backed by the U.S.
government, or related in any way to U.S. currency, and have fewer regulatory
protections.
* The value of digital and virtual currencies is derived from supply and demand
in the global marketplace which can rise or fall independently of any fiat
(government) currency.
* Holding digital and virtual currencies carries exchange rate and other types
of risk.
POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, INCLUDING BUT NOT LIMITED TO
BITCOIN, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH
CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE.
A FAVORABLE EXCHANGE RATE AT THE TIME OF EXCHANGE CAN RESULT IN A TAX LIABILITY.
PLEASE CONSULT YOUR TAX ADVISOR REGARDING ANY TAX CONSEQUENCES ASSOCIATED WITH
YOUR HOLDING OR USE OF DIGITAL OR VIRTUAL CURRENCIES.
If you have a question or complaint, please contact the consumer assistance
division of SoFi Crypto at investsupport@sofi.com or (855) 456-7634. Illinois If
you are located in the State of Illinois and have a complaint, please first
contact Customer Support at (855) 456-7634 or email at cryptosupport@sofi.com.
If you still have an unresolved complaint or for suspected violations of the
Illinois Transmitters of Money Act, please contact the Illinois Department of
Financial Institutions at 1-888-473-4858, or submit an online complaint online
Maryland The Commissioner of Financial Regulation for the State of Maryland will
accept all questions or complaints from Maryland residents regarding SoFi
Digital Assets, LLC (License # 12-1770414 / NMLS ID # 1770414) at 500 North
Calvert Street, Suite 402, Baltimore, MD 21202 or at 1-888-784-0136. Minnesota
SoFi Digital Assets, LLC (“SoFi Crypto”) is committed to combating fraud. If you
are located in the State of Minnesota and believe that your account has been
accessed without your authorization, you did not initiate a transaction, are not
the intended recipient of a transmission, or should you have any other questions
or concerns regarding our Services, please contact our Customer Support Team by
phone at: (855) 456-7634 or via email at customerservice@sofi.org. You may also
submit a complaint to the Minnesota Department of Commerce by phone at (651)
539-1500 or by mail at Main Office, Golden Rule Building, 85 7th Place East,
Suite 280, Saint Paul, MN 55101, or contact the Consumer Financial Protection
Bureau for questions or complaints about SoFi Crypto at
https://www.consumerfinance.gov/ or by phone at (855) 411-2372. New York If you
are located in the State of New York and have a complaint, please first contact
our Customer Support Team at (855) 4567634, or by email at
cryptosupport@sofi.com.
If you still have an unresolved complaint, you may also direct your complaint to
the attention of: the New York State Department of Financial Services, One State
Street, New York, NY 100041511, (212) 7091540.
Please note the following disclosures associated with virtual currency:
(1) Virtual currency is not legal tender, is not backed by the government, and
accounts and value balances are not subject to Federal Deposit Insurance
Corporation or Securities Investor Protection Corporation protections.
(2) Legislative and regulatory changes or actions at the state, federal, or
international level may adversely affect the use, transfer, exchange, and value
of virtual currency.
(3) Transactions in virtual currency may be irreversible, and, accordingly,
losses due to fraudulent or accidental transactions may not be recoverable.
(4) Some virtual currency transactions shall be deemed to be made when recorded
on a public ledger, which is not necessarily the date or time that the customer
initiates the transaction.
(5) The value of virtual currency may be derived from the continued willingness
of market participants to exchange fiat currency for virtual currency, which may
result in the potential for permanent and total loss of value of a particular
virtual currency should the market for that virtual currency disappear.
(6) There is no assurance that a person who accepts a virtual currency as
payment today will continue to do so in the future.
(7) The volatility and unpredictability of the price of virtual currency
relative to fiat currency may result in significant loss over a short period of
time.
(8) The nature of virtual currency may lead to an increased risk of fraud or
cyberattack.
(9) The nature of virtual currency means that any technological difficulties
experienced by SoFi Crypto may prevent the access or use of a customer’s virtual
currency.
(10) Any bond or trust account maintained by SoFi Crypto for the benefit of its
customers may not be sufficient to cover all losses incurred by customers.
Oregon If you are located in the State of Oregon and have a complaint, please
first contact our Customer Support Team at (855) 456-7634 or email at
cryptosupport@sofi.com. If you still have an unresolved complaint regarding our
money transmission activity, you may also direct your complaint to the attention
of: Oregon Division of Financial Regulation, P.O. Box 14480, Salem, Oregon
97309-0405; +1 (866) 814-9710 (toll-free in the USA). Please visit: website for
additional information. Tennessee Please note that this license and the required
surety bond does not cover the transmission of virtual currency. SoFi Digital
Assets, LLC is licensed by the Tennessee Department of Financial Institutions as
a money transmitter. The Tennessee Department of Financial Institutions does not
regulate virtual currency. Texas If you have a complaint or believe you may be
the subject of a fraud induced wire transfer, please first contact Customer
Support at (855) 456-7634 or email at cryptosupport@sofi.com. If you still have
an unresolved complaint regarding our money transmission or currency exchange
activity, please direct your complaint to: Texas Department of Banking, 2601
North Lamar Boulevard, Austin, Texas 78705, 1-877-276-5554 (toll free) or please
visit website for additional information. Washington Fraudulent transactions may
result in the loss of your money with no recourse. In addition, please note the
following disclosures associated with transactions with virtual currency:
(1) Virtual currency is not legal tender, is not backed by the government, and
accounts and value balances are not insured against theft or loss by the Federal
Deposit Insurance Corporation or the Securities Investor Protection Corporation.
(2) Transactions in virtual currency are irrevocable, and, accordingly, losses
due to fraudulent or accidental transactions may result in the loss of your
money with no recourse.
(3) You are exclusively responsible for ensuring the security of your account,
your own trades, trade cancellations, deposits, and withdrawals and are
responsible for any errors or liabilities incurred therein. In the event of such
errors, please contact our Customer Support Team at (855) 456-7634 or email at
cryptosupport@sofi.com. We make no representations that we will be able to
correct such mistakes.
COLLECTIONS +–
SoFi Lending Corp. or an affiliate holds collection licenses in the following
states:
State License License Type Arizona 944189 Collection Agency License Arkansas
5428 Collection Agency License Connecticut CCA-1121636 Consumer Collection
Agency License Maryland O4-7700 Collection Agency License North Dakota CA-102839
Collection Agency License
CREDIT CARD COLLECTIONS
SoFi Lending Corp. or an affiliate holds collection licenses in the following
states:
State License License Type New Hampshire 24162-SM Small Loan Lender License Utah
8912669-0130 Collection Agency License West Virginia 2395-8362 Collection Agency
License
OTHER LEGAL
APP BANNERS +–
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Google Play and the Google Play logo are trademarks of Google Inc.
BUSINESS CONTINUITY +–
Social Finance, Inc. and its affiliates, including SoFi Lending Corp, Sofi
Securities LLC, SoFi Wealth LLC and SoFi Capital Advisors, LLC, is committed to
providing continuous, quality service to our members and maintains a business
continuity plan in order to minimize customer impact in the event of a business
disruption. In the event of a significant business disruption, SoFi uses our
business continuity management program to prioritize the recovery of critical
business and technology functions. We accomplish this by: 1) re-routing service
activities to available locations across the country; 2) relocating impacted
businesses to recovery locations, as needed; 3) designing our technology and
systems to support the recovery processes for critical business functions; 4)
designating a crisis management team and recovery leaders responsible for
activating and executing on the business continuity plan; and 5) adopting a
communication plan to ensure that relevant updates are provided to our
employees, customers, regulators and other key stakeholders.
While no contingency plan can eliminate all risk of a business interruption,
SoFi has taken significant steps to develop and implement sound recovery plans.
SoFi tests its plans on a regular basis and requires updates and approvals of
the plans on at least an annual basis.
This disclosure is subject to modification without notice.
NYC LANGUAGE ACCESSIBILITY NOTICE +–
Notice for NYC Residents: (1) SoFi conducts its business in English and does not
provide any language access services or translations in any other language; (2)
The New York City Department of Consumer Affairs provides a translation and
description of commonly-used debt collection terms in multiple languages on its
website, www.nyc.gov/dca.
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