SoFi Personal Loans

in Personal Loans from SoFi

Claimed Apply Now Get Personalized Rates

SoFi Personal Loans


in Personal Loans from SoFi

SuperMoney Net Recommendation Score +39% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Mostly recommended

60 users recommend
8 users are unsure
24 users don't recommend
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Community Rating Mostly recommended
Loan Amount $5,000 - $100,000
APR  (Fixed APR) 5.99% - 18.64%
Loan Term 24 - 84 months
Number of Reviews 93

SoFi Personal Loans Review

SoFi Personal Loans is offered by SoFi, a marketplace lending platform founded in 2011 and based in San Francisco, CA. SoFi Personal Loans is available in 49 states (and Washington, DC).

Key takeaways

  • Fast access to cash. In some cases you can get your money within 1 business day.
  • Good credit required. You will need a credit score of at least 680 to qualify for SoFi Personal Loans.
  • Large loan amounts. You can apply for loan amounts of up to $100,000 with SoFi Personal Loans.
  • No origination fee. SoFi Personal Loans does not charge a loan origination fee.
  • No late fees. Missing a payment can seriously damage your credit, but SoFi Personal Loans will not charge additional fees if you miss the due date on a payment.
  • Super long loan terms. SoFi Personal Loans offers loan terms of up to 84 months. Most personal loans have a maximum term of 60 months.

SoFi Personal Loans Pros and Cons:

Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • $0 origination fee.
  • Fast funding.
  • Only considers applicants with good credit.
  • No co-sign option.

What rates and terms does SoFi Personal Loans offer?

SoFi Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does SoFi Personal Loans offer?

SoFi Personal Loans offers a fixed APR personal loan product that ranges from 5.99% APR up to 18.64% APR. Rate is quoted with autopay discount*.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via SoFi Personal Loans?

Loan amounts start at $5,000 and go up to $100,000.

What can a personal loan from SoFi Personal Loans be used for?

Personal loans from SoFi Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.

What is the maximum loan term you can get with SoFi Personal Loans?

SoFi Personal Loans offers personal loans with terms ranging from 24 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

SoFi Personal Loans Rates & Terms
Loan Amount $5000 - $100000
Loan Term 24 - 84 months
APR 5.99% - 18.64%
Rate is quoted with autopay discount*

What fees does SoFi Personal Loans charge?

Does SoFi Personal Loans charge an origination fee?

SoFi Personal Loans does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does SoFi Personal Loans charge a late fee?

No, SoFi Personal Loans will not charge you a late fee..

Does SoFi Personal Loans charge prepayment fees?

No, SoFi Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

SoFi Personal Loans Fees
Origination Fee 0%
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for SoFi Personal Loans?

Applicants with a credit score of at least 680 and up to 850 are eligible for SoFi Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

SoFi Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. SoFi Personal Loans only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via SoFi Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by SoFi Personal Loans. Permanent resident / green card holders are also eligible to apply. Not all companies will work with visa holders. SoFi does offer its services to temporary resident visa holders such as F1 or H1B holders.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit
SoFi Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Co-borrowers
  • Individual Applications
  • Credit Score 680 - 850

    What is the estimated funding time for a personal loan via SoFi Personal Loans?

    SoFi Personal Loans will typically approve (or deny) a loan application within 1 hour and fund personal loans within 7 business days of approval.

    Does SoFi Personal Loans report your account activity to credit bureaus?

    SoFi Personal Loans reports your account activity to the following credit reporting agencies:

    • Equifax
    • Experian
    • Transunion

    Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

    SOFI PERSONAL LOANS Disclosure: *Personal Loan Disclaimer Fixed rates from 5.99% APR to 18.64% APR (with AutoPay). SoFi rate ranges are current as of March 27, 2020 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
    SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


    Message from SoFi

    SoFi is a new kind of finance company taking a radical approach to lending and wealth management. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result.

    Hours of Operation

    • Sunday 4:00am - 5:00pm
    • Monday 4:00am - 9:00pm
    • Tuesday 4:00am - 9:00pm
    • Wednesday 4:00am - 9:00pm
    • Thursday 4:00am - 9:00pm
    • Friday 4:00am - 5:00pm
    • Saturday 4:00am - 5:00pm

    Other Services by SoFi


    Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
      Available in 49 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Origination Fee  
    No Prepayment Fee  
    Origination Fee ($) $0
    Origination Fee (%) 0%
    No Late Fees  
    Checking Account Required  
    Cosigner Optional  
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    • U.S. Temporary Resident Visa Holders
    Joint Loan Applications Accepted
    • Co-borrower
    • Individual Applications
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Minimum Age 18
    Supported Income Types
    • 1099 Misc. Income
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    Verification Documents Required
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    Credit Score Range 680 - 850
    Approval Speed 1 hour
    Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
    Funding Time Range 1 - 7 days
    Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
    Pre-Approved Soft Credit Inquiry  
    Loan Amount $5,000 - $100,000
    APR (Fixed APR) 5.99% - 18.64%
    Loan Term 24 - 84 months

    SoFi Personal Loans Community Reviews


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