Pay in 4 is a “buy now, pay later” feature that lets eligible SoFi Bank members split purchases—up to a total of $2,000—into four interest-free payments made every two weeks.
Once you accept a Pay in 4 offer, a single-use virtual card is created that you can use online or add to your Apple or Google Wallet to pay in person. The card is valid for 30 days.
You can choose to have payments automatically withdrawn from your SoFi Checking account every two weeks or make them manually.
There are no fees for opening or closing your loan, no late or early payment fees, and no annual fees.
Accepting a Pay in 4 offer won’t impact your credit score—we use information already on file, and these loans aren’t reported to credit bureaus.