--- title: "Is SoFi Technologies Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/sofi-technologies-stock publisher: HalalWallet license: CC BY 4.0 verdict: not_halal verdict_label: Not Halal entity_type: stock ticker: SOFI exchange: NASDAQ last_reviewed: 2026-06-14 data_as_of: 2026-03-31 --- # Is SoFi Technologies Stock Halal? **Verdict: Not Halal** (Not permissible) SoFi Technologies, Inc. (SOFI) does not pass Shariah screening: its core business fails the activity screen (SoFi is an interest-driven business), and impermissible income / total revenue is 70.8% against the < 5% limit (data as of 2026-03-31). It is not held by Shariah-screened ETFs SPUS or HLAL. Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below. > HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide. ## How we read the evidence SoFi markets itself as a fintech, but its financial statements describe a bank. The company holds a national bank charter, gathers deposits, and lends them out at interest across personal loans, student loan refinancing, and home loans. In 2025, roughly $2.2 billion of its $3.6 billion in total net revenue, around 61%, was net interest income, and the Lending segment alone produced $1.85 billion of revenue, $1.61 billion of which was net interest income. Interest is not a side effect of SoFi's model; it is the model. Like JPMorgan, this makes the Shariah analysis unambiguous. AAOIFI-based screens exclude companies whose core business is conventional interest-based lending at the business-activity stage, and even if one only applied the revenue tolerance test, SoFi's interest share of revenue is more than ten times the common 5% threshold. The Financial Services and Technology Platform segments (brokerage, banking products, and the Galileo/Technisys infrastructure business) do not change the overall character of the company, since they are smaller than lending and are themselves intertwined with interest-bearing products like high-yield savings accounts. SoFi is held by neither SPUS (June 11, 2026 holdings) nor HLAL (February 28, 2026 SEC-filed holdings), and there is no credible screener position treating it as compliant that we could verify. Muslim investors should treat SOFI as a clear fail under current standards. ## Business activity screen Result: Fail SoFi Technologies is a digital personal-finance company with a national bank charter, operating three segments: Lending, Financial Services, and a Technology Platform. Per its Q4/FY2025 earnings release filed with the SEC (10-K filed February 17, 2026), total 2025 net revenue was $3.61 billion, of which the Lending segment contributed $1.85 billion (about 51%), including $1.61 billion of lending-segment net interest income. SoFi is an interest-driven business. Per its SEC-filed 2025 results, consolidated total net revenue of $3,613.4 million included consolidated noninterest income of $1,394.4 million, implying consolidated net interest income of roughly $2.22 billion, about 61% of total net revenue. The Lending segment (personal, student, and home loans) alone generated $1,606.0 million of net interest income, and SoFi Bank holds member deposits that fund this lending. Interest income at this scale fails any recognized Shariah business screen; conventional consumer lending is also excluded at the sector level under AAOIFI standards. ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 8.7% | < 30% | Pass | | Cash + interest-bearing securities / market cap | 18.0% | < 30% | Pass | | Impermissible income / total revenue | 70.8% | < 5% | Fail | Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology ## Scholars' and screeners' positions - **SP Funds S&P 500 Sharia ETF (SPUS)**: Not held in SPUS as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://www.sp-funds.com/spus/)) - **Wahed FTSE USA Shariah ETF (HLAL)**: Not held in HLAL as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://www.sec.gov/Archives/edgar/data/1683471/000089418926012509/wahedshariah.htm)) ## Sources - SOFI latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=SoFi%20Technologies%2C%20Inc.&type=10-Q) - AAOIFI Shariah Standards (https://aaoifi.com) - SoFi Q4/FY2025 earnings release (SEC EDGAR, 8-K exhibit) (https://www.sec.gov/Archives/edgar/data/1818874/000181887426000008/a2025q4earningsrelease.htm) - SoFi 2025 10-K filing index (SEC EDGAR, accession 0001818874-26-000013) (https://www.sec.gov/Archives/edgar/data/1818874/0001818874-26-000013-index.html) - SPUS holdings (SP Funds) (https://www.sp-funds.com/spus/) - HLAL Schedule of Investments 2026-02-28 (SEC EDGAR) (https://www.sec.gov/Archives/edgar/data/1683471/000089418926012509/wahedshariah.htm) ## Frequently asked questions ### Is SoFi Technologies, Inc. (SOFI) stock halal? No. SoFi Technologies, Inc. fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons. ### Does SoFi Technologies, Inc. pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 8.7% of market cap (limit < 30%); cash plus interest-bearing securities is 18.0% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is SoFi Technologies, Inc. held in halal ETFs like SPUS or HLAL? No — as of our last check, SoFi Technologies, Inc. is not held by SPUS or HLAL. 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