For borrowers looking for a personal loan, LightStream provides quick funding for cost-conscious borrowers. On the flip side, SoFi offers flexible repayment options, catering to borrowers desiring financial protection.
| LightStream | SoFi | |
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| Finder rating | ★★★★★ | ★★★★★ |
| Loan products offered | Kitchen and bath remodel, landscaping, solar, swimming pool, aircraft, boat, credit and debt consolidation, wedding, medical, dental, education (K-12 only) and many others | Personal loans for credit card consolidation, home improvements, family planning, travel, IVF, weddings and more |
| Interest rates | Varies by loan purpose | 7.74%–35.49% with autopay and member discounts (0.25% each) |
| Fees | No fees | No fees |
| Loan amounts | $5,000 to $100,000 | $5,000 to $100,000 |
| Turnaround time | As soon as same day | Same day (if approved and signed by 5:30 p.m. ET) |
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| State availability | Not available in: Iowa, West Virginia | Available in all states |
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LightStream and SoFi both offer unsecured personal loans. LightStream serves as a more compatible fit for most borrowers due to its Rate Beat program, guaranteeing lower rates than competitors and 0.5% autopay discounts, which is larger than SoFi’s 0.25%.
LightStream, a subdivision of Truist Bank, is ideal for borrowers with good to excellent credit looking for the lowest minimum APRs. SoFi, which started later than Lightstream in 2011, might be a good fit for borrowers looking for financial assurance through a suite of repayment options. Both might be a good fit, depending on your financing needs.
LightStream is a compatible fit for borrowers who want:
SoFi is a great fit for borrowers who prefer:
While both SoFi and LightStream have different consumer ratings, both have an independent A+ rating from the Better Business Bureau, prefer good to excellent borrowers and offer autopay discounts to lower your monthly costs.
Here are three alternative products similar to both LightStream and SoFi.
Compare up to four lenders side by side to see how they stack up.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
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