
SoFi Personal Loans
Would you recommend SoFi Personal Loans to your friends?
Community Rating | Mostly recommended |
APR | 6.99% - 22.28% |
Loan Amount | $5,000 - $100,000 |
Loan Term (Months) | 24 - 84 months |
Number of Reviews | 103 |
SoFi Personal Loans Review
SoFi Personal Loans is offered by SoFi, founded in 2011 and based in San Francisco, CA. SoFi Personal Loans is available in 50 states across the USA.
- Fast access to funds. In some cases, you can get your money within 1 business day*.
- Large loan amounts. You can apply for loan amounts of up to $100,000 with SoFi Personal Loans.
- Prequalified rate. You can check your prequalified rate at SoFi with a soft pull that will not affect your credit score.
- 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.
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What interest rates and personal loan terms does Sofi loans offer?
Sofi loans has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Sofi loans offer?
Sofi loans offers a personal loan product that ranges from 6.99% APR up to 22.28% APR.
How much can you borrow via Sofi loans?
Business loan amounts start at $5,000 and go up to $100,000.
What is the maximum loan term you can get with Sofi loans?
Sofi loans offers loans with terms of up to 84 months.
Personal Loan Amount | $5000 - $100000 |
Loan Term | 24 - 84 months |
APR | 6.99% - 22.28% |
What fees does Sofi loans charge?
Does Sofi loans charge an origination fee?
Sofi loans does not charge a personal loan origination fee.
A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does Sofi loans charge a late fee?
No, Sofi loans will not charge you a late fee if you miss one of the monthly payments.
Does Sofi loans charge prepayment fees?
No, Sofi loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
Origination Fee | 0% |
Prepayment Fee | No |
Late Payment Fee | No |
What do you need to qualify for SoFi Personal Loans?
Applicants with a credit score of at least 680 and up to 850 may be 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.
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. APRs for the SoFi Personal Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
Minimum Age | 18 |
Bank Account Required? | Yes |
Application Types Accepted | |
Credit Score | 680 - 850 |
What is the estimated funding time for a personal loan via Sofi loans?
Sofi loans will typically approve (or deny) a loan application within 1 hour and fund loans within 7 business days of approval.
Does SoFi Personal Loans report your account activity to credit bureaus?
Yes, SoFi Personal Loans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
Is Sofi loans a legit company?
Sofi loans was founded in 2011, it is a well-established company that has been in business for 11 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
Message From SoFi
Message From Our Editor
Contact
- Headquarters
-
234 1st Street
San Francisco, CA 94105 USA - Visit Site
- Email Support
Other Services by SoFi
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- 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
Feature Breakdown
No Origination Fee | |
No Prepayment Fee | |
Origination Fee ($) | $0 |
Origination Fee (%) | 0% |
No Late Fees |
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