Welcome to Nova!

This Terms of Use Agreement (this “Agreement”) sets forth the terms and conditions that apply to your access and use of the online functions, products, and services made available to you by Social Finance, LLC and any and all of its subsidiaries and affiliates.

You can access Nova products and services through our Nova website (located at www.novaprimeassets.com) and the Nova mobile application (the “Nova App”). Nova may also offer phone, email, and additional websites that allow you to access Nova products and services. All of these channels are referred to collectively in this Agreement as the “Nova Site.”

Through the Nova Site you may access many different products and services offered by Social Finance, LLC and its affiliated companies, including but not limited to: Nova Bank, National Association, Nova Lending Corp., Nova Securities LLC, Nova Wealth LLC, Nova Credit LLC, Nova Digital Assets, LLC, and Social Finance Life Insurance Agency, LLC. We use the name “Nova” to refer to any and all of the companies affiliated with Social Finance, LLC You may access more information about each Nova company through the Legal page on the Nova Site. Nova may add new operating companies from time to time to offer additional products and services.

To use the Nova Site and to obtain any Nova product or service, you must agree to Nova’s E-Sign Agreement, which means your acceptance of this Terms of Use Agreement and all other agreements with Nova, such as our GLBA Privacy Notice and Arbitration Agreement, are effective and binding on you just as if you had signed the document with pen and ink, and you agree all communication with you related to Nova and any Nova product or service may be in electronic form.

Your acceptance of this Terms of Use Agreement is required to use the Nova Site and to obtain any product or service offered on the Nova Site. By using the Nova Site to obtain any Nova product or service, you agree to be bound by this Terms of Use Agreement just as if you have signed the document with pen and ink.

If you do not wish to be bound by this Terms of Use Agreement, then do not access or use the Nova website or mobile application, do not click “accept” to register with Nova, and do not submit any account application, loan inquiry, loan request, or other product request. Taking any of these actions means you agree to this Terms of Use Agreement just as if you had signed it with pen and paper.

You may only accept this Agreement and use the Nova Site if you are legally authorized to accept and be bound by these terms and of a legal age to enter this Agreement.

If you have questions or comments about these Terms of Use.

Please note this Terms of Use Agreement contains General Terms applicable to all users PLUS sections with terms that apply to you if you use specific Nova products and services.

TABLE OF CONTENTS

I. GENERAL TERMS

II. SPECIFIC ADDITIONAL TERMS AND CONDITIONS

If you use ANY of the following Nova products or services, please read the terms applicable to each — these terms apply to you.

1. Connected Accounts

2. Relay (Financial Insights and Tools)

3. Credit Score Monitoring

4. At Work Services (If you reach Nova through your Employer)

5. Nova Marketplace & Lantern

6. Nova Mobile App

7. Referral Program

8. Nova Member Rewards Program

9. Use of artificial intelligence in Nova Coach

10. Nova Plus

11. Nova Insurance Agency Services (Protect)

General Terms

1. Changes to this Agreement. Nova may change this Terms of Use Agreement from time to time by posting a current version on the Nova website without delivering any notice to you. Please review the current version of this Terms of Use on the Nova Site from time to time, because your continued access or use of the Nova Site shall be deemed your acceptance of the Terms of Use in place at that time.

2. Additional Product or Account Agreements. To obtain certain Nova products and services you might be required to enter into additional agreements with Nova. For example, using Nova Wealth’s investment advisory services requires you to enter an additional customer agreement. You will be subject to this Terms of Use Agreement and any other agreements you enter with Nova.

3. The material provided on the Nova website, including the information and any images incorporated in the site, is for your personal private non-commercial use only. You may not modify, republish, post or transmit anything you obtain from this website, including anything you download from the site, unless you first obtain consent of Nova. You agree not to engage in systematic retrieval of data or other content from the Nova Site.

4. You may not create any kind of link or hyperlink from any other site to the Nova Site unless you first obtain our permission.

5. Risks of using the Nova Site. Conducting financial transactions through online services such as Nova has inherent risks. By using the Nova Site and online services, you agree to and accept the following:

•  Online information transmission can be disrupted. You accept the risk that the Nova Site could be affected by technical difficulties that impair your ability to obtain, view, or deliver information or execute a transaction, including in time sensitive transactions such as securities trades, payments, or cash management.

•  You must confirm any transaction (such as a submission of information or a trade request) attempted online before relying on it being completed. It is your responsibility to verify the status of any attempted transaction by reviewing your accounts or contacting Nova Customer Support.

•  When you create an account, you agree to use a username with a password that is complex, secure, and private. You agree to protect your login credentials. You agree to accept the risk of unauthorized access and use of your account if your credentials are guessed, stolen, intercepted, or if Nova’s system is breached or used without proper authorization. If you learn of any unauthorized use of your password or account, you must contact us immediately (using contact information on our Nova Site). Nova is not responsible for any unauthorized access to or use of your account.

•  Nova’s obligation is to use reasonable information security measures, and you acknowledge and agree that Nova’s systems are not 100% secure against every possible attack.

6. Privacy. If you use or obtain any Nova product or service, Nova will collect information about you and use it and share it according to Nova’s Online Privacy Policy and GLBA Privacy Notice.

Please read Nova’s Privacy Policy and Privacy Notice for a full description of how Nova will collect, use and share information about you. You may view these documents through the links in this provision or on the Nova Site at the Privacy Policy page. This Terms of Use does not limit the application of the Nova Privacy Policy or Privacy Notice.

5. Communicating with you. You give permission to Nova to contact you as follows:

Registration & Accounts. You agree that Nova may contact you about any matter relating to your activity with, any inquiry submitted to, or any account or product you have with Nova.

Marketing. You agree that Nova may contact you to tell you about and to offer products or services we believe might be of interest to you.

You agree that Nova may use agents or representatives to contact you on our behalf.

Phone, SMS, AutoDials. You agree that Nova may contact you through any means, including emails, telephone, SMS messages (including text messages), calls using pre-recorded messages or artificial voice, and calls and messages delivered using automatic telephone dialing systems (auto-dialer) or an automatic chatbot or texting system. Nova and its agent or representative may leave messages on your answering machine, voice mail, or send messages via text or chatbot.

Recorded phone and other interactions. You agree that Nova and our agents, representatives, affiliates or anyone calling or contacting you on our behalf may contact you on a recorded line or recorded messaging service, including via an automated chatbot. Your communications with Nova may be monitored, recorded or reviewed by us and shared with our third-party providers for quality assurance and customer service purposes. Your use of the Nova Site constitutes your consent to such monitoring, recording and review. We may also use third party tools or technology to monitor user experience on our Site. These tools automatically record information you provide to use on our Site and information about how you interact with our Site, including pages or links you click, videos you watch, mouse clicks and movements and page scrolling. We use this information for analytics and to improve Site usability as well as enhance the effectiveness of our Site, offers, advertising, communications and customer service. Please see our Privacy Policy for more information.

Accurate numbers. You certify telephone numbers that you have provided to us are your contact numbers and that you are permitted to receive calls at each of the telephone numbers you have provided to us. You agree to promptly alert us whenever you stop using a particular telephone number. We may contact you using any information you have provided to Nova or any of its affiliates, at any telephone number, or any physical, email, or electronic address you provide or at which you may be reached.

Push-Notifications/Alerts. You may select for Nova to send you messages called “Alerts” by text or phone. Alerts may be delayed or prevented by factor(s) affecting your internet/phone provider or other relevant entities. Nova is not liable for losses or damages arising from non-delivery, delayed delivery, or the erroneous delivery of any Alert, or inaccurate Alert content. You are responsible for your use or reliance on the contents of any Alert for any purposes. The information in any Alert may be subject to certain delays. Each Alert may not be encrypted and may include your name and information pertaining to your account(s). Nova may terminate your use of Alerts at any time without notice. You may choose to discontinue receiving Alerts by updating your Nova App Notifications preferences.

SMS Notifications. All SMS Notifications (texts and emails from us to you will be considered to be in writing.

Capability to view messages. In order to access, view, and retain SMS Notifications that we make available to you, you must have: (i) a SMS-capable mobile phone, (ii) an active mobile phone account with a communication service provider; and (iii) sufficient storage capacity on your mobile phone.

You are responsible for messaging Costs. NOVA MAY USE ANY MEANS OF COMMUNICATION TO REACH YOU EVEN IF YOU WILL INCUR COSTS TO RECEIVE SUCH MESSAGES, INCLUDING PHONE, TEXT, E-MAILS OR OTHER MEANS. You are responsible for any and all charges, including but not limited to, fees associated with text messaging, imposed by your communications service provider. Please consult your mobile service carrier’s pricing plan to determine the charges for sending and receiving text messages. These charges will appear on your phone bill. Message frequency depends on account status or settings. We may modify or terminate our text messaging services from time to time, for any reason, and without notice, including the right to terminate text messaging with or without notice, without liability to you.

6. Nova SMS Two-Factor Authentication Program

Nova may send you two-factor authentication code messages. This is intended to support your secure access but is not guaranteed to provide you account security.

(a) You can cancel the SMS service at any time. Just text “STOP” to the short code. After you send the SMS message “STOP” to us, we will send you an SMS message to confirm that you have been unsubscribed. After this, you will no longer receive SMS messages from us. If you want to join again, just sign up as you did the first time and we will start sending SMS messages to you again.

(b) If you experience issues with the messaging program you can reply with the keyword HELP for more assistance, or you can get help directly at 1-855-456-NOVA (0634).

(c) You might incur message and data fees for any messages sent to you from us and to us from you. You will receive at least one message per authentication attempt. If you have any questions about your text plan or data plan, contact your wireless provider.

If you have any questions regarding privacy, please read our privacy policy: https://www.nova.com/online-privacy-policy/.

7. Loan Inquiries and Submissions. If you submit an inquiry or request to Nova for a loan, credit card, or other product that relies on credit, you authorize Nova to obtain your credit report from a credit reporting agency and to use the information according to Nova’s Privacy Policy, including to advertise products and services to you. Your authorization in this Agreement is in addition to: (i) terms you accept at the time you submit a loan inquiry, (ii) terms in any loan application, and (iii) terms in loan documents if you obtain a loan. You agree you will provide current, complete, and accurate information about yourself and any co-borrowers or co-signers. If any information you provide is untrue, inaccurate, not current, or incomplete, Nova has the right to terminate your submission and to decline to provide any and all future use of the Nova Site. At all times we reserve the right to decline any loan submission or application for a loan.

8. You are Responsible for Your Financial Decisions. You are responsible for all financial decisions you make on the Nova Site or based upon information you obtain on the Nova Site. Nova’s products and services are offered to you upon the express condition that you will fully evaluate your own financial circumstances, the terms of the products and services, and are fully responsible for your own financial decisions. Only you can consider your financial situation and circumstances. You agree to pursue a Nova product or service only after you have determined it is right for you.

In the event you would like to obtain financial guidance or advice, you may enter an advisory relationship with a financial advisor, including Nova Wealth, LLC. Unless you have entered into an advisory agreement with Nova Wealth, you agree that:

•  Nova has NOT reviewed your financial situation, Nova does not attempt to understand your full financial situation, and Nova will not attempt to select offers, products, or services that are suitable for you.

•  You must make decisions about whether Nova products are right for you.

•  Before making any financial decisions, you should always consider obtaining information and advice from a certified financial advisor who is aware of your individual circumstances.

9. Investments. Nova offers you the opportunity to reach Nova Invest through the Nova Site and App. Nova Invest is offered by Nova Securities, LLC, and you must enter an additional customer agreement with Nova Securities, LLC. ALL INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE.

10. Nova’s Limitation of Liability. You agree that all access and use of the Nova Site and your use of Nova products and services is at your own risk. In no event shall Nova (and all related parties) be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising or in connection with use of the Nova Site. In addition, you agree:

•  Nova will not be responsible if you are unable to use the Nova Site or any linked site, or in the event of any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if Nova, or representatives thereof, are advised of the possibility of such damages, losses or expenses.

•  Nova will not be responsible or liable to you in any way if information is intercepted by an unauthorized person, either in transit or at your place of business.

•  Nova will have no liability to you for any unauthorized payment or transfer made using your passcode that occurs before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice.

•  Nova may suspend or cancel your passcode even without receiving such notice from you, if we suspect your passcode is being used in an unauthorized or fraudulent manner.

•  Nova shall have no liability to you for any losses, financial or otherwise, suffered by you arising out of or resulting from compatibility or inoperability problems of the website, your computer device, or your failure to confirm any attempted transaction.

11. Nova says suspend your Account and your use of the Site. Nova reserves the right to suspend, cancel, or terminate your use of the Nova Site and any Nova product or service if we believe you are using it for a purpose that is unauthorized, improper, illegal, or that could harm Nova or Nova’s reputation. Nova may determine in our sole discretion the activities that could lead to such suspension or cancellation. You agree that you will not use any device, software or routine to interfere or attempt to interfere with the proper working of the Nova Site or any transaction being conducted on the Nova Site.

12. Site Changes. Nova reserves the right to change or modify or discontinue the Nova Site, or any features or functions on the Nova Site, for any reason, at our sole discretion, without notice to you.

13. Agreement Duration and Termination. This Terms of Use Agreement will continue to apply to you and your use of the Nova Site until your Nova account or relationship is terminated as set forth herein. Nova may, in its sole and absolute discretion, at any time, for any or no reason, and with or without prior notice, suspend or terminate your use of the Nova Site and the rights afforded to you hereunder. If you fail to comply with any terms and conditions of this Agreement, then your access to the Nova Site and any rights afforded to you may be automatically terminated, without any notice to you or other action by Nova.

You agree that Nova will not be liable to you or any third party for any termination of your account or access.

If you want to deactivate or delete your Nova account, please see our FAQs page. You agree that even if you seek to terminate this Agreement, Nova may be obligated by law to retain information about you and certain transactions.

14. Advertisements and Promotions. The Nova Site may contain promotions for products and services of other companies. In many cases these companies pay marketing fees to Nova. Nova’s promotions of other companies’ products is an introduction for you and is not an endorsement of any other company’s services or products. Nova disclaims any liability for any products offered by any other company.

15. Links to External Sites. External sites with links on Nova’s Site often have Terms of Use, Privacy Policies, and security practices that are different from those of Nova. It is your responsibility to read and understand those documents before agreeing to use the external site.

16. Indemnification. You shall indemnify, defend and hold harmless Nova and its affiliates, partners, suppliers and licensors, and each of their respective officers, directors, agents and employees (the “Indemnified Parties”) from and against any claim, proceeding, loss, damage, fine, penalty, interest and expense (including, without limitation, fees for attorneys and other professional advisors) arising out of or in connection with the following: (i) your access to or use of the Nova Site or App; (ii) your breach of the License to use the Nova Site and App; (iii) your violation of law in connection with this License; (iv) your negligence or willful misconduct in connection with this License; or (v) your violation of the rights of a third party, including the infringement by you of any intellectual property or misappropriation of any proprietary right or trade secret of any person or entity. These obligations will survive any termination of this Agreement or the App License.

17. Applicable Law. These Terms of Use and the License shall be governed in all respects by the substantive laws of the State of California, without regard to its provisions relating to conflict of laws. You agree to submit to the personal and exclusive jurisdiction and venue of the state and federal courts located within San Francisco County, California. The failure of Nova to exercise or enforce any right or provision of the Terms of Use shall not constitute a waiver of such right or provision. If any provision of the Terms of Use or the License is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of the Terms of Use or the License remain in full force and effect. You agree that regardless of any statute, regulation, or law to the contrary, any claim or cause of action you may have arising out of or related to use of the Nova Site, the Nova App, or these Terms of Use must be filed within one (1) year after such claim or cause of action arose or be forever barred.

18. Compliance with Applicable Law. You agree to abide by all applicable local, state, national, and international laws and regulations in your use of the Nova Site. The Nova Site is available only to individuals who are permitted to use it under applicable law. The Nova Site is made available only for personal, non-commercial use and display by U.S. residents legally capable of entering commercial agreements. If you do not qualify, do not use the Nova Site. You agree to comply with all applicable laws, rules and regulations regarding the export of technical data from the U.S. You agree: (i) You are solely responsible for your actions and the contents of your transmissions through the Nova Site. (ii) You will not impersonate any person or entity or falsely state or otherwise misrepresent your identity or affiliation with a person or entity. (iii) You possess the legal right and ability to enter into these Terms of Use and the License and to use the Nova Site. Unauthorized use of this Nova Site, including but not limited to unauthorized entry into Nova’s systems, misuse of passwords, or misuse of any information posted on a site, is strictly prohibited.

19. No Warranty. Nova does not warrant the accuracy, adequacy or completeness of the information provided on the Nova Site and expressly disclaims liability for any errors or omissions in such information. No warranty of any kind, implied, expressed or statutory including but not limited to the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information. Calculators and tools on the Nova Site provide you with ESTIMATES that may be different from actual amounts.

20. Copyright. Nova Technologies, Inc. owns the copyright in all of the information and material contained on the Nova Site. The contents of the Nova Site, including its “look and feel” (e.g., text, graphics, images, logos, and button icons), editorial content, notices, software (including html-based computer programs), and other material are protected under both United States and foreign copyright, patent, trademark, and other laws. You agree not to reproduce, duplicate, copy, sell, resell, use or exploit for any commercial purposes, the Nova Site, or use of or access to the Nova Site, or any information or technology obtained from the Nova Site, including, but not limited to, Nova’s trademarks.

Specific Product or Service Terms and Conditions

This Terms of Use Agreement includes both the General Terms and Conditions above and additional product specific Terms and Conditions below. If you use any of the following Services, the terms below apply to you in addition to the General Terms and Conditions above:

1. Connected Accounts. Nova 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 (we refer to such accounts as a “Connected Account”).

You agree to the following terms and conditions when you connect an account at another institution:

•  Nova will obtain your account information. If you connect an external account to Nova, Nova may obtain any and all information from the Connected Accounts. The specific information Nova obtains may vary by institution and account type. You should assume Nova will obtain from the account any information that is available to you. For example, if you connect a bank account to Nova’s Relay tool (described below), Nova 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, Nova 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 Nova service, Nova may use the information from the connected account for any purpose permitted by Nova’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, Nova requires you to use a service offered by Plaid Inc. (“Plaid”). By using this Service, you acknowledge and agree that Plaid’s Privacy Policy 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 obtain information from Connected Account, Nova Acts as Your Agent. If you elect to connect an external account to Nova, Nova will connect to the account and obtain information at your direction and as your agent. Nova does not warrant that the information obtained from the external account is accurate, complete, or non-infringing.

2. Relay (Personal financial management insights and tools). If you use Nova’s Relay service, the following terms and conditions also apply to you.

Nova offers financial insights and personal tools to view, aggregate, and manage your information from multiple accounts. The information compiled includes accounts held at Nova and at external financial institutions, such as a bank account or a loan serviced by another institution. Nova offers these tools under the product name brand of “Relay.” If you elect to connect an external account in Relay, you authorize Nova to obtain information from the Connected Account external account and use it as described above in the section (“Connected Accounts”). Nova’s Relay tools are intended to only provide organizational and informational services regarding your finances. The Nova Relay tools and services are not intended to provide any financial planning, investment, tax, or retirement planning services or advice. Nova does NOT undertake any review of your account information to provide you with any advice or guidance. Nova does not make any determination about the suitability or appropriateness of any transactions you might undertake at Nova or elsewhere. If you elect to use Relay, you are fully and solely responsible for your accounts and agree Nova’s only role is to aggregate compile data to information present to you.

3. Credit Score Monitoring. If you use Nova’s Credit Score Monitoring service, the following terms and conditions also apply to you.

Nova 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 Nova to offer you additional tools and insights 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 Nova 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. Nova reserves the right to pause Credit Score Monitoring after a period of inactivity. If you return and log in again, we’ll automatically restart the service. Please see FAQs for the process to terminate the service. If your credit score monitoring is paused, rewards points associated with credit score increase will also be paused.

•  Nova’s service includes presenting your credit score and other elements in your credit report to you. Nova does NOT undertake any responsibility to monitor your credit report for activity, identify theft, or any other actions. Nova’s service enables YOU to monitor your credit score.

•  The credit score obtained by Nova 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 Nova provides any simulations or hypothetical estimates of credit score changes, these are for educational purposes only and are not a guarantee of any outcome.

•  Nova will obtain and keep your credit reporting information and use it for the purposes permitted in Nova’s Privacy Notice. Nova’s uses of your information may include:

•  Nova may use your credit information to serve targeted advertisements to you and other communication based on your information.

•  Nova may present offers to you for other Nova products and services using your credit information to identify if you are likely to be eligible or interested.

•  Nova may use your credit information for statistical analysis to improve Nova products and services.

•  You may obtain your own credit report without using Nova. You have the right to a free credit report from the website AnnualCreditReport.com

•  Nova is not a credit reporting agency or a credit repair company. Nova does not and will not undertake any credit repair on your behalf. To the extent Nova 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.

4. Nova At Work Customer Agreement. If you reach Nova through your employer or a link on your employer’s site and you proceed to use Nova, you agree to and accept this At Work Customer Agreement in addition to any other terms and conditions or agreements applicable to use of Nova. If you do not wish to accept this Agreement, please inform your employer to remove you from the list of participating employees immediately and do not use the Nova Site. f you are using Nova to receive contributions from your Employer, you agree to the following terms:

1. Your employer has engaged Nova to assist your employer obtain information to make a contribution to your student loan account. The contribution is made by your employer to you. Nova’s role is only to assist you in delivering your loan information to your employer.

2. You agree to enroll only student loans that are Qualified Education Loans as defined by the IRS in the Internal Revenue Code Section 221(d)). By enrolling a loan, you attest that the loan was: (a) used solely and only for the cost of attendance and did not exceed the cost of attendance, (b) at an approved Title IV school, (c) that you attended at least half time, and (d) that the loan was for you or your dependent’s cost of attendance.

3. You will not enroll in a delinquent loan unless directed to do so by your employer.

4. Your employer’s contribution does not reduce your monthly minimum loan payment and is an additional payment intended to help you pay off your loan. You must continue to make your required minimum monthly payment or confirm the amount due.

5. You are responsible for confirming the amount contributed to your loan through your lender. You agree to check your loan account to confirm your employer’s contributions are correctly received.

6. You are responsible for assuring your employer contributes the correct amount to your loan. Nova is not responsible for verifying that you receive the correct contribution amount.

7. You must notify Nova or your employer immediately if you notice or have reason to believe funds are not delivered correctly to your external accounts.

8. Sharing your information. You authorize Nova to receive information about you from your employer as necessary in order to facilitate your participation in the employer’s program. You authorize Nova to deliver to your employer information about you and your loan, including the amount and timing of your loan payments, so that your employer may deliver contributions to the account you have designated.

9. By making services available to you, Nova is NOT a fiduciary to you. Nova is not providing any retirement benefits or any employment benefits.

5. Customer Agreement for Nova’s Lantern / Marketplace Services

Nova offers users the opportunity to obtain information about loans and loan-related products from other financial services companies or lenders. In this Agreement we refer to this service as Marketplace Services, even though in some places we may brand it as “Lantern.” 

All Nova Marketplace services are provided to you by Nova Lending Corp. (SLC) or an SLC affiliate. SLC is licensed as set forth on our Licensing page.

When you use Nova’s Marketplace, Nova is providing a marketing service to the Participating Lenders to present information to you. Nova is not involved in reviewing your information for eligibility for a loan or in any decision, and Nova is not a loan broker. Nova is a venue for you to connect with lenders for potential products they offer, and we only present information of lenders who agree to promote their products through Nova.

Nova will be paid a marketing fee from lenders and/or from Money Lion or Quin street who manage the lender network. The fee to Nova may be paid based on various events, including when you connect with the lender and when you obtain a loan, including as a percentage of any loan you obtain. Nova’s compensation from the lender may affect Nova’s selection of lenders to participate and the presentation of lender information to you.

6. Additional Terms for the use of the Nova Application for Mobile Devices

License to use the Nova App. You may download the Nova App that operates on certain devices, such as mobile devices, from an “App Store” (such as Apple App Store or Google Play). All terms, agreements, limitations, and disclosures that apply to your use of the Nova Site also apply to your use of the Nova App. You are responsible for any data access or wireless or internet charges of your mobile device service provider. Nova does not make any representation or warranty that all aspects of the Nova Site are rendered or operable on the Nova App, and we do not warrant that the Nova App will be compatible with your mobile device. You agree that your functional use of the Nova App may be affected by or dependent on your wireless connection and speed or your wireless service provider. The functionality of the Nova App could become disabled during times of poor connections or speeds from your wireless or internet service provider while conducting financial transactions. By using the Nova App, you agree to the following terms:

a. The Nova App is licensed, not sold, to you by Social Finance, LLC for use strictly in accordance with the Terms of Use. Upon downloading the Nova App, Nova grants you a personal, revocable, non-exclusive, non-transferable limited license to install and use the Nova App on your mobile device to access and use the Services for your personal, non-commercial use and display strictly in accordance with this license, your Account Agreements, these Terms of Use and any applicable Usage Rules (the “License”).

b. You agree that you will not (i) decompile, reverse engineer, disassemble, attempt to derive the source code of, or decrypt the Nova App; (ii) make any modification, adaptation, improvement, enhancement, translation, copy or derivative work from the Nova App; (iii) violate any applicable laws, rules or regulations in connection with your access or use of the Nova App; (iv) remove, alter or obscure any proprietary notice (including any notice of copyright or trademark) of Nova or its affiliates, partners, suppliers or the licensors of the Nova App; or (iv) create, design, engineer or use any “bot” or other technology in connection with the Nova App.

c. You acknowledge and agree that the Nova App and all copyrights, patents, trademarks, trade secrets and other intellectual property rights associated therewith are owned by Nova or its affiliates, agents or licensors, as applicable. All rights, title, and interest in and to the Nova App are reserved by Nova and its affiliates, agents, or licensors, as applicable. All trademarks (including logos, service marks, trade names and icons), copyrights, patents, trade secrets, content, publicity rights, and other intellectual property (collectively, the “Intellectual Property”) are proprietary to SoFi, its affiliates, agents, or licensors. You may not remove any proprietary notices, including, but not limited to, copyright and trademark notices, from the Nova App or alter, obscure or modify such notices in any way. Except as expressly stated in this license, you are not granted any intellectual property rights in or to the Nova App by implication, estoppel or other legal theory, and all rights in and to the App not expressly granted in this License are hereby reserved and retained by Nova.

d. You acknowledge and agree that, in the event of a third-party claim that the App infringes any third party’s intellectual property rights caused by or arising out of your use of the Nova App, you (and not Nova or any third-party mobile device service provider or app venue) shall be solely responsible for the investigation, defense, settlement and discharge of any intellectual property infringement claim or suit, any third-party claims or any other harm or damages caused by, arising out of or resulting from your use of or access to the Nova App. You hereby release Nova and its employees, officers, directors, affiliates, agents and licensors from any and all liability caused by, arising out of or resulting from your use of the Nova App or the services, including from product liability claims or any claim that the Nova App fails to conform to any legal or regulatory requirement. You will, however, promptly notify Nova in writing of any such claim.

e. If you believe that material on our Nova App violates your copyright, please notify us. Nova will respond to all copyright infringement notices that it receives and respond appropriately by removing infringing material if necessary. If a member repeatedly infringes upon copyrights, his or her account may be subject to termination at Nova’s discretion.

f. You may not rent, lease, lend, sublicense or transfer the App, this License or any of the rights granted hereunder. Any attempted transfer in contravention of this provision shall be null and void and of no force or effect.

g. Export Control. You may not use or otherwise export or re-export the mobile Application except as authorized by United States law and the laws of the jurisdiction(s) in which the Application was obtained. You represent and warrant that you are not: (i) located in any country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country, or (ii) listed on any U.S. Government list of prohibited or restricted parties including the Treasury Department’s list of Specially Designated Nationals or the U.S. Department of Commerce Denied Persons List or Entity List. You also agree that you will not use the Application for any purposes prohibited by United States law.

7. Nova’s Referral Program

Last Updated: May 14, 2025

The following describes the terms of service which apply to participation in the referral or account opening promotional programs (collectively, the “Referral Programs”) currently offered by Social Finance, LLC (“Nova”) and its affiliates. If you wish to participate in any Referral Program described below, you agree to the terms for such Referral Program described in Part I below, as well as the General Terms and Conditions in Part II, which apply to all Referral Programs.

¹Please note that any friend whom you’d like to refer must use your specific product referral link in accordance with the terms and conditions associated with the specific promotional campaign for that link. By clicking “Share Link” and sharing your link with your friend, you agree that you have express consent to send your friend promotional messages about Nova’s products and services. Note you have separate referral links for (1) Personal Loans and Student Loans, (2) Checking and Savings accounts, or (3) Invest products, or (4) Credit Score Monitoring. Only one referral reward and one welcome bonus per new customer, with the exception of referrals for new closed end unsecured installment loans. You will not receive multiple referral bonuses for the same friend taking advantage of multiple promotions, nor will your friend receive multiple welcome bonuses for taking advantage of multiple promotions unless they are for a new closed end unsecured installment loan that your friend has not previously obtained. You will receive an additional referral bonus for the same friend funding a new personal loan, new student loan refinance or new private student loan, provided the friend applies through the specific product’s referral link and has not previously obtained that type of closed end unsecured lending product. Employees of Social Finance, LLC and its affiliates are not eligible to receive referral bonuses under the Referral Programs.

Each person referred should be someone you have a direct, personal relationship with. You may not distribute a Referral Link or otherwise solicit anyone through mass email, any form of commercial advertising or other similar means.

Nova reserves the right to review, investigate, and disqualify anyone from participation in the Nova Referral Program at any time, and reserves the right to not honor any referral which in our sole discretion was solicited in a manner inconsistent with the spirit or terms and conditions of the Nova Referral Program.

Furthermore, Nova Securities reserves the right to seek reimbursement from any customer (including by deduction from their Invest Account) of amounts paid as Referral Bonuses to customers solicited via mass solicitation. Please note that in certain circumstances the deduction of such amounts from their account may result in a negative balance.

Any person referred to a Nova loan may not have an existing registered Nova account. Any person referred to Credit Score Monitoring or Nova Checking or Savings may not currently have another Nova product but may already have a registered Nova account. A person referred to a Nova Invest account may have an existing Nova account.

If account funding is required to meet referral bonus payout eligibility, P2P transfers or proceeds of a reward, promotion or similar program are not eligible methods of funding.

To protect the privacy of those you refer to, referral prospect account information or eligibility is not, under any circumstances, permitted to be shared with referral promoters.

Program terms: Part I

Loan Referral Program

The terms below and those set forth in Part II govern your participation in Nova Bank, N.A.’s (“Nova Bank“) Loan Referral Program (the “Loan Referral Program“) described below. The Loan Referral Program is open to any consumer who registers on Nova’s website and who resides outside of the state of Vermont (the “Eligible Loan Referrer(s)“). Employees of Social Finance, LLC and its affiliates are not eligible to receive Loan Referral Bonuses under the Loan Referral Program.

Eligible Loan Referrers are limited to refer friends, colleagues, family members, and other people they (collectively, the “Eligible Loan Recipient(s)“) believe may be interested in applying for a student loan or personal loan product as described in a specific promotional campaign (collectively, the “Eligible Loan(s)“). Nova Bank reserves the right to disqualify anyone from participating in the Loan Referral Program at any time. The Eligible Loan Referrers will NOT receive a Loan Referral Bonus for referrals for any other Nova Bank loan products. Anyone who violates these terms and conditions is ineligible for payment of any bonus.

To receive credit for a referral under the Loan Referral Program, Eligible Loan Referrers must send their unique referral link to an Eligible Loan Recipient, the Eligible Loan Recipient must use their Eligible Loan Referrer’s unique referral link within 120 days after receipt of the Eligible Loan Referrer’s unique referral link, and the Eligible Loan Recipient must meet the terms and conditions of the specific promotional campaign associated with the unique referral link that was used for the referral. Further, in order for the Eligible Loan Recipient to receive their Loan Welcome bonus for a Nova Personal Loan, the loan must still be an active loan in good standing ninety (90) days after the disbursement date. For Private Student Loan referrals, the Eligible Loan Recipient and Eligible Loan Referrer will receive their bonus sixty (60) days after their first loan disbursement, and the Eligible Loan Referrer is eligible for a maximum of 5 total referral bonuses for the Private Student Loan product.  Further, for referrals for the Private Student Loan product no payments will be made if the Eligible Loan Referrer is employed by a qualified educational institution. If the Eligible Loan Recipient uses the Eligible Loan Referrer’s unique referral link and meets the terms and conditions of the specific promotional campaign associated with that unique referral link, Nova Bank or its designee shall pay to (a) the Eligible Loan Referrer, a referral bonus into a Nova Bank Checking or Savings account in the amount specified in the promotional campaign associated with the unique referral link that was used for the referral (the “Loan Referral Bonus“); and (b) the Eligible Loan Recipient, a welcome bonus into a Nova Bank Checking or Savings account in the amount specified in the promotional campaign associated with the unique referral link that was used for the referral (the “Loan Welcome Bonus“). Only one Loan Referral Bonus and one Loan Welcome Bonus will be awarded for each referred Eligible Loan Recipient, regardless of whether the Eligible Loan Recipient takes out multiple Eligible Loans. Further, and notwithstanding the above, the following additional restrictions shall apply (1) no Loan Referral Bonus will be paid to otherwise Eligible Loan Referrers who are residents of Vermont, and (2) no Loan Referral Bonus will be paid for otherwise funded loans made to Vermont residents. An Eligible Loan Referrer will not earn a Loan Referral Bonus if the Eligible Loan Recipient has or had an existing funded Nova loan account, or if the Eligible Loan Recipient does not use the unique referral link provided by the Eligible Loan Referrer.

If the Eligible Loan Recipient already has a Nova loan account, is on our opt-out list or the national email opt-out list, or has already used another Eligible Loan Referrer’s unique referral link, the Eligible Loan Recipient may not be sent an email. We cannot disclose to you any information about funded loans opened by any Eligible Loan Recipients you refer to us. Participation in the Loan Referral Program serves as a one-time limited waiver of privacy rights by both parties, whereby each may become aware of the presence of an account relationship with Nova Bank.

$1,000 Medical and Dental Referral Offer: All referral program terms and conditions apply. Offer is subject to lender approval and not available to residents of Vermont. The offer is only open to new medical or dental Student Loan Refinance borrowers and may not be combined with other offers aside from the autopay discount. For both the referrer and referee to each receive a $1,000 bonus, the referee must: (1) register and apply for a medical or dental student loan refinance through the referral link provided; (2) meet Nova’s underwriting criteria; (3) complete and fund a loan with Nova; and (4) have or apply for a Nova Checking and Savings or have a Nova Money account to receive the bonus. Once conditions are met and the loan has been disbursed, both the referrer and referee welcome bonus will be deposited into their respective Nova Checking and Savings or Money 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 will 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. Nova reserves the right to change or terminate the offer at any time with or without notice.

Invest Referral Program

The terms below and those set forth in Part II govern your participation in the Nova Invest Referral Program (the “Invest Referral Program”). The Invest Referral Program is open to all current Nova Invest account holders who meet the criteria below, and wish to refer someone to open a Nova Invest Self-directed Invest Account offered by Nova Securities LLC. A referrer must have a Nova Invest Self-directed Invest Account offered by Nova securities LLC or an Automated Invest account offered by Nova Wealth LLC which is funded and in good standing (i.e., not suspended) (an “Eligible Invest Referrer(s)”). Employees of Social Finance, LLC and its affiliates are not eligible to receive Invest Referral Bonuses under the Invest Referral Program.

The Eligible Invest Referrers are encouraged to refer friends, colleagues, family members, and anyone else they believe may be interested in opening a Nova Invest Self-directed Invest account (the “Eligible Invest Recipient(s)”). The Eligible Invest Referrers will NOT receive an Invest Referral Bonus for referrals to open a Nova Invest Automated Account or a Nova Invest Self-directed IRA Account. Nova Securities LLC, or its designee (collectively, “Nova Securities”) reserve the right to disqualify anyone from participation in the Invest Referral Program at any time.

Under the Invest Referral Program, an Eligible Invest Referrer must access their own unique referral link and send it to the Eligible Invest Recipient(s) whom they wish to refer to open a new Nova Invest Self-directed Invest Account. To receive the bonus, eligible Invest Recipient must 1) use the Eligible Invest Referrer’s unique referral link to open the new Nova Invest Self-directed Invest Account within 90 days of clicking on the Eligible Invest Referrer’s unique referral link, 2) fund with a minimum deposit of $25.00, and 3) meet any additional terms and conditions that may apply to a specific promotional campaign associated with the unique referral link that was used for the referral.

For each Eligible Invest Recipient who opens and funds a New Nova Invest Self-directed Account within 90 days after receipt of the Eligible Invest Referrer’s unique referral link, and meets the terms and conditions of the specific promotional campaign associated with the unique referral link that was used for the referral, Nova Securities will: (a) credit an Invest account of the Eligible Invest Referrer with a referral bonus and (b) credit the New Nova Invest Self-directed Account of the Eligible Invest Recipient, with a one-time welcome bonus (the “Invest Welcome Bonus”). Only one Invest Referral Bonus and one Invest Welcome Bonus will be awarded for each referred Eligible Invest Recipient, regardless of whether the Eligible Invest Recipient opens and funds multiple accounts. An Eligible Invest Referrer will not earn an Invest Referral Bonus if the Eligible Invest Recipient has or had an existing funded Nova Invest account or does not use the unique referral link provided by the Eligible Invest Referrer.

Please note that if the Eligible Invest Recipient already has an Invest account, is on our opt-out list or on the national email opt-out list, or has already used another Eligible Invest Referrer’s unique referral link, Nova Securities will not send an email to such Eligible Invest Recipient. We cannot disclose to you any information about the New Nova Invest Self-directed Account opened by any Eligible Invest Recipients you refer to us. By sending a referral link, you agree that you have express consent to send the recipient promotional messages about Nova’s products and services. 

Bank Referral Program

The following terms and conditions govern your participation in the Nova Bank Referral Program (“Bank Referral Program”) during the Promotion Period (as defined below).

Promotion Period:
  July 30, 2025 at 12:00 a.m. E.T. – February 28, 2026 at 11:59 p.m. E.T.

Terms and Conditions:

To receive the referral bonus, a referrer must complete the following required activities: (i) share their unique referral link during the Promotion Period; (ii) have an existing Nova Checking and Savings account at the time the referred member opens their Nova Checking and Savings account; and (iii) be a Nova Plus member at the time the referred member opens and funds their Nova Checking and Savings account with the referrer’s unique referral link.

To enroll in Nova Plus, see the Nova Plus Terms and Conditions for additional details.

To receive the referral bonus, a referred member must complete the following required activities: (i) apply and successfully open a Nova Checking and Savings account and (ii) make deposits totaling $50 or more that settle within 21 calendar days of clicking the referral link. Deposits must be made via an ACH transfer from a linked bank account, direct deposit, via “Instant Transfer” from a debit card (if available), from cash deposits, mobile check deposits (if available), or wires. Peer-to-peer (P2P) transfers are excluded (P2P transfers are defined as ACH-based P2P or debit-card based P2P transfers from Venmo, PayPal, Apple Cash, Square Cash, Zelle, etc).

Once the referrer and the referred member have completed all required activities, Nova will: (i) credit the referrer a one-time cash bonus of $100 into their Nova Checking account ; and (ii) credit the referred member a one-time cash bonus of $25 into their Nova Checking account. Please note that, if the referrer is not a Nova Plus member at the time the referred member opens and funds their Nova Checking and Savings account, the referrer will only receive a bonus of $75.

Bonus payments will be credited to the referrer and the referred member’s respective Nova Checking accounts within seven (7) business days following confirmation by Nova that all required activities have been completed by the referrer and referred member.

This is a limited-time offer from Nova with limited availability, and is subject to expire at any time.

Referrers will not earn a referral bonus if the referred member has previously opened a Nova Checking and Savings account or does not use the unique referral link provided by the referrer to open a Nova Checking and Savings account during the Promotion Period.

Employees of Social Finance, LLC and its affiliates are not eligible to receive referral bonuses under the Bank Referral Program. In no event will any referrer or referred member be entitled to receive more than $10,000 in cumulative referral or welcome bonuses under all available Nova referral programs within any calendar year. Bonuses are considered miscellaneous income, and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). Nova is required to do this reporting in compliance with the applicable federal and state reporting requirements. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult with your tax advisor to determine applicable tax consequences. Nova reserves the right to exclude any Member from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed.

Bonuses are considered miscellaneous income, and will be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). Nova is required to do this reporting in compliance with the applicable federal and state reporting requirements. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult with your tax advisor to determine applicable tax consequences.

This offer cannot be combined with the Nova Checking and Savings “account $20 open offer.”

This offer cannot be combined with the Nova Checking and Savings “account $20 open offer.”

Joint Accounts:

•  Only the primary account holder who opens the new joint Checking and Savings account is eligible for the referral bonus.

•  The secondary account holder added to the joint account is not considered a referred member for this offer and will not receive a referral bonus for joining the joint account.

•  The secondary account holder can still refer new members and earn referral bonuses for their own successful referrals.

•  A referred member can only receive one referral bonus at the time they open their first Nova Checking and Savings account.

Interest Rates:
  Nova members can earn the following annual percentage yields (APY):
  With Eligible Direct Deposit:

•  Savings (including Vaults): 3.30% APY.

•  Checking: 0.50% APY.

No minimum Direct Deposit amount is required to earn the 3.30% APY on savings.

Without Eligible Direct Deposit:

•  Savings (including Vaults): 1.00% APY.

•  Checking: 0.50% APY.

Other Rates Details:

•  Rates are variable and are subject to change at any time.

•  Rates are current as of 12/23/25.

•  No minimum balance is required.

Fees may reduce earnings.
  Additional information can be found at https://www.novaprimeassets.com/legal/banking-rate-sheet.

Credit Score Monitoring Referral Program

Nova will give you 1,000 rewards points (equivalent to $10) if the person you refer registers to use and successfully activates Nova Credit Score Monitoring within 60 days of the person clicking on your unique referral link. Referrers will not earn rewards points if the recipient already has or had another Nova product, or does not use the unique referral link provided by the referrer. In order to refer others and receive rewards points, you must be actively enrolled in credit score monitoring and accept the Nova Member Rewards Program Terms and Conditions. Once the referral qualifications have been met, Nova will: (a) credit referred members 1,000 rewards points and (b) credit the referrer 1,000 rewards points (equivalent to $10) within 7 business days. See Official Referral Program Rules for additional information.

Eligibility: The Program is open to all members who are of the legal age of majority in the state in which they reside. Nova employees are not eligible to participate in this Program.

Referral Cap: In no event will any referrer or recipient be entitled to receive more than $10,000 in cumulative referral or welcome bonuses under the Referral Program within any calendar year.

Tax Reporting

Referral bonuses may be considered income and may be reportable on IRS Form 1099-INT, 1099-MISC, or Form 1042-S as applicable. Nova is required to do this reporting in compliance with applicable federal and state reporting requirements. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult with your tax advisor to determine applicable tax consequences.

Other Important Details

Nova reserves the right to exclude any members from participating in this Promotion for any reason, such as suspected fraud, misuse, or suspicious activity. Nova also reserves the right to modify or end the Promotion at any time.

General Terms and Conditions: Part II

Referral Cap

In no event will any person be entitled to receive more than $10,000 in cumulative referrals or welcome bonuses under these Referral Programs within any calendar year. In addition, Nova reserves the right to, at any time, limit the maximum number of times a Referral Link can be used. Referral Bonuses and Welcome Bonuses are each considered miscellaneous income and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable).

Non-Solicitation Agreement

If you participate in any of the Invest Referral Program, Money Referral Program, or the Loan Referral Program described above (collectively, the “Referral Program(s)”), you agree not to participate in any other solicitations for Nova products. Other than as set forth herein, you agree not to compensate or accept any compensation from applicants whom you refer to Nova through any of the corresponding Referral Programs described above. You further agree that your activities will be limited to referring potential customers as described above, so they may independently decide whether to apply. You may not collect information from eligible recipients under any Referral Program, assist with filling out an application, or discuss specific product terms.

No Spam

You must comply with all applicable laws and regulations, in soliciting referrals. Eligible referrers may not purchase internet search terms or publicly advertise Nova’s products or name in any fashion. Further, any distribution of a program link that could constitute unsolicited commercial email or “spam,” any content which impersonates or implies an affiliation with or endorsement by Nova or any Nova subsidiary, or any actions which otherwise violate any terms or conditions imposed by Nova, or that Nova determines in its sole discretion to be fraudulent in nature, are prohibited and will be grounds for immediate termination from a Referral Program. We will not honor referral payments for referrals which are generated using any of the foregoing means.

Independent Contractor

Your participation in a Referral Program is solely as an independent contractor. Neither you nor Nova intend to establish an employment relationship, and you are not entitled to any benefits. We may require completion of a Form W-9 prior to payment of any referral or welcome bonus. Any payments that are not claimed within 180 days of the date the funds have been made available because either the direct deposit bank account or required tax information have not been provided are subject to forfeit.

Conflict

In the event any of the terms of these Terms of Service conflicts with any terms in a specific promotional campaign associated with a unique referral link, the terms of these Terms of Service shall govern.

Discontinuation of Previous Referral Program

The Referral Programs described herein replace all earlier versions of such Nova referral programs. Nova reserves the right to temporarily, or permanently modify or discontinue the Referral Programs at any time, for any reason, at our sole discretion and without notice to you.

8. SoFi Member Rewards Program

Social Finance, LLC, and its affiliates (“Nova”) operate the Nova Member Rewards program (the “Program”), through which consumers who choose to join the Program (“Members”, “you”, or “your”) and accept these terms ( the “Program Terms”) can earn and redeem points as described below. By clicking the “Join for free” button on the Program enrollment screen you agree that your enrollment in the Program will be governed by these Program Terms and Nova’s Terms of Use www.novaprimeassets.com/terms-of-use (the “Terms of Use”) applicable to www.novaprimeassets.com (the “Website”).

There is no cost to you to participate in the Program.

Program Eligibility

This Nova Member Rewards Program (the ‘Program”) is open to all current Members, who are in good standing with any loan, account or other product they may have with Nova, and who have registered on Nova’s website (www.novaprimeassets.com) and agreed to these Program Terms. Any information you provide to Nova or its affiliates in connection with this Program is subject to Nova’s Privacy Policy. We may send you communications about this program to any mailing address, email address, or telephone number in our records or that you have provided to us.

Points Earned

The Nova Member Rewards Program allows you to earn points from activities such as:

•  Linking your first non-Nova account to Nova Relay

•  Signing up for Credit Score Monitoring

•  Activating your Nova Debit Mastercard

•  Setting up Billpay from your Nova Money® or Nova Checking account

The ways to earn rewards points are subject to change at any time. To see the latest ways to earn rewards points and respective rewards points values per activity, visit the “Ways to earn” section. The terms of the specific promotional offers listed in the “Ways to earn” section will govern the number of rewards points you will earn in association with those promotional offers and may differ from the terms for other customers. Some state restrictions may apply.

You may see the total balance of your earned, unredeemed rewards points by tapping the gem icon above your account details.

No points may be redeemed prior to your acceptance of these Program Terms and your enrollment in the Program through the Membership & Rewards hub. Further, Members must enroll for the Program by clicking “Join for free” on the Program enrollment screen and obtain one of the following products within 90 days of earning any points: Nova Checking and Savings, Nova Active Invest, Nova Credit Card, Nova Personal Loan, Private Student Loan, or Student Loan Refinance. Co-signers of Personal Loans, Private Student Loans and Student Loan Refinance do not qualify as having “obtained” a product. If at any time after earning points under this Program a Member has not enrolled in the Program by clicking the “Join for free” button through the enrollment flow or does not have a product for which points can be redeemed into for a period of ninety (90) consecutive days, such points will expire and be forfeited. Nova reserves the right to modify or discontinue any promotional offers for points earnings at any time, and with or without notice to you.

Points aren’t your property and have no cash value. You can’t transfer or move points unless expressly provided for in this agreement. Additionally, points can’t be transferred by operation of law, such as by inheritance, in bankruptcy or in connection with a divorce.

Redemption Process

Rewards points may be redeemed toward active Nova accounts, including but not limited to, your Nova Checking or Savings account, Nova Money® account, Nova Active Invest account, Nova Credit Card account, Nova Personal Loan, Private Student Loan, Student Loan Refinance, or toward Nova Travel purchases.

The ways to redeem rewards points are subject to change at any time. To see the latest ways to redeem your rewards points, including redemption details for any promotional offers, visit the “Redeem” page. As a participant in the Program, you are eligible to redeem rewards points in accordance with the terms of any current promotional offer listed on the “Redeem” page.

Rewards points may be redeemed on a one-time basis or on a monthly basis when set up through auto-redemption. To set up and manage your auto-redemption preferences, tap the gem icon above your account details within the Nova app.

Please note that the terms of any promotional offer listed on the “Redeem” page may contain separate eligibility requirements or conditions to receive that promotional offer. The terms of the specific promotional offers listed on your “Redeem” page will govern your ability to redeem rewards points for those promotional offers and may differ from the terms for other customers. To the extent these Program Terms conflict with any of the separate terms for a promotional offer, the Program Terms shall govern how rewards points are earned and the specific promotional terms will govern how rewards points are redeemed for the offer.

Nova reserves the right to modify or discontinue any promotional offers for points redemptions at any time, and with or without notice to you. Points redemptions may be conditional upon you being a Nova customer with at least one active Nova product.

Points Restriction

Nova in its sole discretion may prohibit or limit your ability to use, earn, keep or redeem points, in whole or in part, and at any time, if you are a Nova Member in “bad standing”. For clarity, a Member in “bad standing” includes but is not limited to the following: if you are delinquent or have defaulted on a Nova Credit Card or loan product; if you have a negative balance in your Nova Money, Nova Checking, or Nova Savings or any of your Nova Active Invest Accounts; if we believe you have violated any applicable law in connection with this Program; or if we believe you have committed any fraudulent acts in connection with this Program.

Additional terms

Your participation in this Program may result in the receipt of taxable income from Nova and we may be required to send you, and file with the IRS, a Form 1099. You are responsible for any tax liability, including disclosure requirements, related to your participation in the Program.

We are not responsible for any dispute you may have in connection with this Program with an authorized user or joint account holder on any of your accounts.

Changes to the Nova Member Rewards Program

Nova may modify or update these Program Terms at any time, and each such modification will be effective upon either posting at the Website or notice to you. Your continued participation in this Program following any such modifications constitutes your acceptance of such modifications and your agreement to be bound by these Program Terms and the Terms of Use. If you do not agree to any modification of these Program Terms or the Terms of Use, as the case may be, your sole remedy is to discontinue your participation in the Program. It is important that you review these Program Terms regularly. Nova in its sole discretion may terminate this Program, or prohibit or limit your ability to use, earn or redeem points, in whole or in part, at any time with or without notice to you. The Program described herein shall replace all earlier versions of this Program.

INDEMNIFICATION

You shall defend, indemnify, and hold harmless Social Finance, LLC, its affiliates, and each of its and its affiliates’ respective employees, contractors, directors, suppliers, and representatives from all damages, losses, costs and expenses of whatever kind, including attorneys’ fees and any sums paid under any settlement incurred or suffered as a result of any claim, demand, action, or suit by any third party, whenever and wherever filed, arising out of or relating to (i) your violation of any of these Program Terms, (ii) any fraud or misuse associated with your participation in this Program, (iii) your violation of any applicable law, and (iv) any dispute you may have in connection with this Program with an authorized user or joint account holder on one of your accounts. Nova reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will assist and cooperate with Nova in asserting any available defenses.

ACCESS INSTRUCTIONS

To view your rewards points account balance, tap the gem icon above your account details.

9. Use of artificial intelligence in Nova Coach

Nova Coach helps you learn about Nova products, view and analyze your financial information, and troubleshoot account issues. Depending on your question, responses may be generated by artificial intelligence (“AI”) or, if you require customer support, a live support agent. By using Nova Coach, you acknowledge that Nova employs AI technologies to generate certain responses, and you agree to use Nova’s AI tools at your own discretion. 

AI-generated responses may be incorrect, incomplete, or inconsistent with information available in your account. You agree to verify important details and not rely on Nova Coach for financial, legal, investment, tax, or other professional advice. Nova Coach suggestions should not be treated as advice or recommendations, and you agree to not make any financial decisions based solely on Nova Coach responses.

Nova may review your interactions with Coach to improve accuracy, safety, and performance of our AI systems. Your use of Nova Coach is also subject to the Nova Terms of Use and Privacy Policy.

10. Nova Plus

Last Updated: December 9, 2025

(a) What is Nova Plus?

Nova Plus is a premium membership that gives members access to our best rewards, benefits, and more. All terms and conditions applicable to the use of Nova Prime Assets apply. To learn more about Nova Plus and available benefits and terms, please see the Nova Prime Assets page.

(b) Who is eligible for Nova Plus?

New and existing Nova members who pay the Nova Plus subscription fee of $10 every 30 calendar days qualify as Nova Plus members.

Effective December 9, 2025, the following eligibility criteria will no longer qualify a member for Nova Plus:

•  (1) Receive Eligible Direct Deposit (as defined below) into a Nova Checking and Savings account every 31 calendar days;

•  (2) Receive $5,000 in Qualifying Deposits (as defined below) into a Nova Checking and Savings account every 31 calendar days.

New and existing members who receive an Eligible Direct Deposit or $5,000 in Qualifying Deposits into a Nova Checking and Savings account at any point during the period from December 9, 2025 to March 30, 2026 (the “Complimentary Access Period”) will receive complimentary access to Nova Plus through March 30, 2026, provided they continue to receive Eligible Direct Deposits or $5,000 in Qualifying Deposits every 31 calendar days through the end of the Complimentary Access Period. Complimentary Nova Plus access for these members will end on March 30, 2026.

(c) What do I need to know about Eligible Direct Deposit and Qualifying Deposit?

(i) What is an Eligible Direct Deposit?

Eligible Direct Deposit means a recurring deposit of regular income into an account holder’s Nova Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you’re enrolled in Nova Plus, we encourage you to check your Membership & Rewards page the day after your Eligible Direct Deposit posts to your Nova Account. If you are not reflected as being enrolled in Nova Plus with the details of your Eligible Direct Deposit. As long as Nova Bank can validate those details, you will be enrolled in Nova Plus beginning the date you contact Nova for the next 31 calendar days.

(ii) What is not an Eligible Direct Deposit?

Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g. IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for Nova Plus. Nova Bank, N.A. (“Nova Bank”) shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine eligibility for Nova Plus and may request additional documentation for verification of eligibility.

(iii) What is a Qualifying Deposit?

Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s Nova Checking and Savings accounts (“Qualifying Deposits”) every 31 calendar days. Qualifying Deposits only include those deposits from the following eligible sources:

•   (i) ACH transfers,

•   (ii) inbound wire transfers,

•   (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, Wise, etc. and internal peer-to-peer transfers from a Nova account belonging to another account holder),

•   (iv) check deposits,

•   (v) instant funding to your Nova Bank Debit Card,

•   (vi) push payments to your Nova Bank Debit Card, and

•   (vii) cash deposits.

Nova Bank shall, in its sole discretion, assess each account holder’s Qualifying Deposits to determine the eligibility for Nova Plus and may request additional documentation for verification of eligibility.

(iv) What is not a Qualifying Deposit?

Qualifying Deposits do not include:

•   (i) transfers between an account holder’s Nova Checking account, Nova Savings account, Nova Invest accounts and/or Nova Vaults;

•   (ii) interest payments;

•   (iii) bonuses issued by Nova Bank or its affiliates; or

•   (iv) credits, reversals, and refunds from Nova Bank or from a merchant.

(v) What are the timing requirements?

Upon receiving an Eligible Direct Deposit or Qualifying Deposit to your account, you will begin earning the interest rates and annual percentage yields (“APY”) for account holders with Nova Plus on the following business day. Nova determines your enrollment in Nova Plus via Eligible Direct Deposit and Qualifying Deposits based on a rolling 31-calendar day period. A rolling 31-calendar day period means that each time you receive an Eligible Direct Deposit or $5,000 in Qualifying Deposits, a new 31-day period begins, during which you will be enrolled in Nova Plus. If you receive another Eligible Direct Deposit or $5,000 in Qualifying Deposits during the current 31-day period, the period will reset, and a new 31-day period will begin from the date the criteria are met. You can view the end date of your current 31-day period, based on your most recent deposit activity, by visiting the APY details page within your account.

Nova Bank reserves the right to grant a grace period to account holders following a change in Eligible Direct Deposit or Qualifying Deposit activity before adjusting your Nova Plus status. If Nova Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If Nova Bank determines that you did not have Eligible Direct Deposit activity or $5,000 in Qualifying Deposits within a rolling 31-day period and, if applicable, the grace period, then you will lose access to Nova Plus benefits.

As long as you receive an Eligible Direct Deposit or $5,000 in Qualifying Deposits every 31 calendar days, or pay the Nova Plus Subscription Fee every 30 calendar days, you will remain enrolled in Nova Plus.

(d) What do I need to know about the Nova Plus Subscription Fee?

(i) Payment Methods: Customers may use the following payment methods to pay the Nova Plus Subscription Fee.

(1) ACH Transfer from Nova Checking Account: Customers may pay the Nova Plus Subscription Fee from their Nova Checking account. By submitting payment for the Nova Plus Subscription Fee via the Nova mobile app, you authorize Nova to initiate ACH transfers every 30 days to Nova by debiting your Nova Checking account for the amount of the Nova Plus Subscription Fee stated in section 10(a)(ii) herein. This authorization for recurring debits will remain in effect until you cancel your subscription, as described in the “Canceling Payments” section herein. If we determine that you have insufficient funds in your Nova Checking account to pay the Nova Plus Subscription Fee, you will be prompted to add funds to your Nova Checking account. If you fail to add funds to your Nova Checking account, Nova reserves the right to terminate your Nova Plus benefits.

(2) Credit Card or Debit Card: Customers may pay the Nova Plus Subscription Fee via credit card or debit card. By submitting payment for the Nova Plus Subscription Fee via the Nova mobile app, you authorize Nova to charge the credit card or debit card entered on the Nova Plus Subscription Fee payment page every 30 days. This authorization for recurring charges will remain in effect until you cancel your subscription, as described in the “Canceling Payments” section herein. If your selected payment method fails, you will not be enrolled as a Nova Plus member.

(ii) Billing Cycle: Your billing cycle start date is the date on which you click “Join Nova Plus” in the Nova mobile app. Upon clicking “Join Nova Plus,” you will receive an email notification of the start of your Nova Plus membership. You will also receive an email notification upon Nova’s receipt of each Nova Plus Subscription Fee payment. If your billing date falls on a weekend, federal holiday, or other non-business day, your subscription payment will be processed on the next business day.

(iii) Canceling Payments: You can cancel your authorization of future ACH transfers or future credit card or debit card payments at any time by logging into your Nova account and canceling your Nova Plus membership on the subscription management page. You must cancel your Nova Plus membership by 7:59 p.m. P.T. at least one (1) calendar day before the subscription renewal date to avoid being charged the Nova Plus Subscription Fee for the next billing period. If a cancellation request is submitted after this time, you may be charged for the subsequent billing period. Please note that Nova will not issue a partial refund for canceling a Nova Plus membership before the end of a billing cycle. Upon successful cancellation, you will continue to enjoy all Nova Plus benefits until the last day of your current billing cycle.

(iv) Subscription Fee Refunds for Qualifying Members: If you are enrolled in a paid Nova Plus subscription (a “Paid Subscription”), your subscription will remain active, and you will continue to be billed the Nova Plus Subscription Fee on your regular 30-day billing cycle. This ensures your Paid Subscription status is never interrupted. However, if Nova determines that you also met the non-payment, deposit-based eligibility criteria (i.e., through Eligible Direct Deposit or Qualifying Deposits) during a given billing cycle, we will automatically issue a prorated refund for the Nova Plus Subscription Fee charged for that cycle.

(1) Refund Processing: Refunds will be processed back to your original payment method, typically within 5 to 10 business days after Nova confirms you have met the deposit-based eligibility criteria for that period. This process will continue for each billing cycle where you maintain both an active Paid Subscription and also meet the deposit-based eligibility criteria. If you no longer meet the deposit-based criteria in a future billing cycle, your subscription fee will automatically resume, and you will be charged as usual and will not be refunded, ensuring your Nova Plus benefits continue without a gap.

(2) Extended Pause: If your Paid Subscription has been paused for twelve (12) consecutive months or more, we may require you to re-authorize your payment method before your Paid Subscription payments can be resumed.

(e) What else is important to know?

•  You may only enroll in Nova Plus if you are legally authorized to accept and be bound by these terms and are of a legal age to enter this Agreement.

•  Your participation in this Plus Benefits Program may result in the receipt of taxable income from Nova and we may be required to send you, and file with the IRS, a Form 1099. You are responsible for any tax liability, including disclosure requirements, related to your participation in the Plus Benefits Program. We are not responsible for any dispute you may have in connection with this Plus Benefits Program with an authorized user or joint account holder on any of your accounts.

•  Nova in its sole discretion may remove you from this Plus Benefits Program and terminate all benefits if you are a Plus member in “bad standing” or if Nova no longer believes you meet the eligibility criteria. For clarity, a Plus member in “bad standing” includes but is not limited to the following: if you are delinquent or have defaulted on a Nova loan product; if you have a negative balance in your Nova Checking, or Nova Savings or any of your Nova Invest Accounts; if we believe you have violated any applicable law in connection with this Plus Benefits Program; or if we believe you have committed any fraudulent, deceptive, or abusive acts in connection with this Plus Benefits Program.

•  Nova may modify or update this Plus Benefits Program at any time, and each such modification will be effective upon either posting at the Website or notice to you. Your continued participation in this Plus Benefits Program following any such modifications constitutes your acceptance of such modifications and your agreement to be bound by these terms. If you do not agree to any modification of these terms, as the case may be, your sole remedy is to discontinue your participation in the Plus Benefits Program. It is important that you review these terms regularly. Nova in its sole discretion may terminate this Plus Benefits Program, or prohibit or limit your ability to use, earn or redeem points, in whole or in part, at any time with or without notice to you. The Plus Benefits Program described herein shall replace all earlier versions of this Plus Benefits Program.

LIMITATION OF LIABILITY

IN NO EVENT SHALL NOVA, NOR ITS DIRECTORS, EMPLOYEES, AFFILIATES, AGENTS, PARTNERS, OR SUPPLIERS, BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY LOSS OF INCOME, PROFITS, BUSINESS OR OPPORTUNITY, RESULTING FROM YOUR PARTICIPATION IN THIS PLUS BENEFITS PROGRAM. THESE LIMITATIONS OF LIABILITY APPLY WHETHER THE CLAIM AGAINST ANY SUCH PERSONS OR ENTITIES IS BASED ON WARRANTY, CONTRACT, TORT, THE LAW OF PROPERTY, OR ANY OTHER LEGAL GROUNDS OR THEORY, AND WHETHER OR NOT SUCH DAMAGES ARE OR WERE FORESEEABLE OR FORESEEN BY ANY SUCH PERSONS OR ENTITIES. THIS LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.

(f) What benefits do I get with Nova Plus?

(i) Exclusive access to Smart Card and 5% back at grocery stores:

Earn 5% cash back rewards on eligible grocery store purchases with the Nova Smart Card. Cash back rewards are issued in the form of Nova Member Rewards points. Members earn 5 points for every dollar spent on eligible grocery store purchases. Nova, in its sole discretion, determines grocery store eligibility. Superstores like Walmart and Target, warehouse clubs like Costco and Sam’s Club, convenience stores, grocery delivery services, and meal-kit delivery services are not considered grocery stores. This benefit is subject to continued paid Nova Plus subscription. All terms and conditions applicable to the use of Nova Member Rewards apply. To learn more about Nova Member Rewards, please see the Nova Member Rewards page. No rewards points will be earned with respect to reversed transactions, returned purchases, cash advances, or other similar transactions.

The Nova Smart Card is a charge card issued by Nova Bank, N.A., Member FDIC, that is secured by your Nova Checking and Savings account. The Smart Card is exclusively available to individual Nova Checking and Savings account holders who pay for Nova Plus membership and is subject to application and approval. To qualify for the Smart Card, you must meet Nova’s eligibility requirements, including verification of sufficient income to support your ability to pay for Smart Card balances. We will not extend your credit if you do not meet our pre-established criteria. Your eligibility for a Nova Smart Card, or a subsequently offered product or service, is subject to the final determination by Nova Bank, N.A., as issuer, pursuant to license by Mastercard® International Incorporated. The Nova Smart Card can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circle’s design is a trademark of Mastercard International Incorporated.

NOVA RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND ELIGIBILITY.

(ii) 3.30% APY on Nova Savings:

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.novaprimeassets.com/legal/banking-rate-sheet.

(iii) 10% rewards boost for Nova credit card:

Nova Plus members is eligible for a 10% boost on cash back rewards rates for all eligible purchases made with a Nova Credit Card (the “Promotion”). For complete Nova Plus eligibility, please see sections 10(b-d) herein.

A 10% boost means that a 10% multiplier shall be applied to existing cash back rewards rates (e.g., a purchase previously earning 100 rewards points would now earn 110 with the promotion). For purposes of calculating the 10% boost on cash back rewards points, each transaction shall be rounded to the nearest dollar, and fractional points shall be rounded to the nearest whole point. The 10% boost shall not apply to (i) transactions that are not eligible for cash back rewards points, including: fees or interest charges, balance transfers or cash advances, purchase of traveler’s checks or other cash equivalents, purchase or reloading of prepaid cards, or other quasi-cash transactions; or (ii) courtesy rewards points that are manually awarded. Nova shall, in its sole discretion, determine whether a transaction is eligible to earn the 10% boost under this Promotion.

Members must enroll in Nova Member Rewards to redeem rewards points, but not to be eligible for the Promotion. Rewards points are subject to the Nova Member Rewards terms.

All new and existing Nova Credit Card members who meet the Nova Plus eligibility criteria during the Promotion Period are eligible for this Promotion. Nova Smart Card accounts are excluded from this Promotion. Offer limited to one per Nova Checking and Savings account. A Nova Credit Card account will only benefit from the 10% boost under this Promotion if the primary Nova Credit Card account holder is a Nova Plus member. Nova reserves the right to exclude any member from participating in this Promotion for any reason, including suspected fraud, misuse, or if suspicious activities are observed.

Promotion Period: The Promotion will begin on 4/1/24 at 1:00 PM ET. Nova reserves the right to terminate or make changes to this Promotion at any time.

(iv) 2% match on recurring IRA deposits:

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Active Nova Plus members are eligible for a 2% match offer on qualifying recurring IRA contributions, up to their Internal Revenue Service (IRS) contribution limit, into their eligible new or existing Nova IRA account. The match requires the funds and match to be maintained in the account that received the match for five (5) years from the settlement date. Matches are paid in cash within five (5) business days. For complete eligibility and terms, please see sections 10(b-d) herein and Nova1% Rollover and IRA Deposit Match terms. Nova Invest encompasses services provided by Nova Wealth LLC (Automated Investing/advisory) and Nova Securities LLC (Active Investing/brokerage), Member FINRA/SIPC.

(v) 1% match on recurring deposits into taxable accounts:

Nova Plus members are eligible for a 1% match on recurring deposits received into a Novai Invest account. Eligibility for this promotion requires that the member satisfy all Nova Plus eligibility requirements, as defined in sections 9(b-d) herein, at the time each recurring deposit settles. Recurring deposits must be maintained in the account for a minimum of five (5) years from the settlement date. Matches will be paid within 5 business days of the deposit settling.

Members can only earn the 1% match for periods in which a recurring deposit is received into a Nova Invest account and the member meets the Nova Plus eligibility criteria. “Recurring deposits” refers to automated ACH transfers scheduled with a frequency of weekly, every two weeks, or monthly into either a Self-directed Nova Invest account (offered by Nova Securities LLC) or Robo Nova Invest Account (offered by Nova Wealth LLC). This includes recurring contributions into your IRA up to the Internal Revenue Service (IRS) contribution limit. ACH Transfer limits do apply. Regular deposits set up from a Nova Checking & Savings account using Autopilot are eligible for the match. One-time transfers and recurring purchases are excluded from the match. Offer can be combined with the Nova Invest 1% IRA Deposit Match, provided the qualifying deposits and holding requirements are independently satisfied for each offer.

Matches will be paid out in cash into the same account receiving the scheduled recurring deposits within 5 business days of the deposit being settled, subject to verification of eligibility and compliance with these terms. Some members may receive their match in the form of Nova Rewards points instead of cash until December 1, 2025. The rewards points are equal in value to the cash and can be redeemed for their cash value. You can learn more about how to redeem your rewards points. The match is calculated on each recurring inflow (incoming recurring ACH transfers). You will earn the 1% match only if you are an active Nova Plus member at the time of the deposit. Matches will not be paid out on Nova Invest or Nova Wealth accounts that are closed or pending closure.

Example: If you complete a recurring deposit of $1,000 into your Self-directed Brokerage account monthly, you will be matched 1%, equaling $10 once each deposit settles.

Qualifying deposits must remain in the Nova Invest account that earned the promotion for five (5) years to retain the entire match amount. If a member withdraws funds (including via ACAT transfer) before the five (5) year Holding Period is complete, they will be subject to an early withdrawal fee and Nova will remove a proportional amount of the match from the member’s account. The proportional amount is based on the breach in retention value, not retention period. To avoid this fee, the total equity of the member’s account (“total equity”) must remain at the original pre-promotion total equity in the account, plus the qualifying deposit and match amount. If a withdrawal causes the total equity to fall below this combined amount, the fee will be applied. The fee will also apply if the member initiates a withdrawal and the total equity has fallen, for any reason including investment losses. Distributions required by law (e.g., required minimum distributions in IRAs) can also trigger the fee. However, the fee will not apply if the member’s total equity has risen by an amount greater than the withdrawal amount, either by investment gains or additional deposits.

The proportional early withdrawal fee will be deducted from the requested withdrawal amount. In the event of an ACAT transfer out, there will be an early withdrawal fee for the entire match amount. If insufficient cash is available in this account, the fee will be debited from an outgoing financial institution or added to a margin balance. Nova reserves the right to liquidate securities to pay for this early withdrawal fee. Nova’s then-current ACAT transfer-out fee will apply separate from an early withdrawal.