SoFi personal loans

Easily apply for a SoFi personal loan with a competitive annual percentage rate.

SoFi is a marketplace lender that has issued more than $19 billion in loans for over 275,000 members. Its products include personal loans, student loan refinancing, mortgages and mortgage refinancing. You can apply for a SoFi loan even if you have a less-than-perfect credit history.

What is SoFi’s personal loan?

You can choose between a competitive fixed or variable annual percentage rate (APR). You can use proceeds from this loan for just about any legitimate purpose like taking a vacation, spending on home improvement or paying credit card debt.

Using a SoFi personal loan to consolidate your existing credit card debt can help you save in the form of interest, especially if you’re paying off balances of high-interest credit cards. You can also use the money you receive through this loan to make a big ticket purchase.

SoFi Personal Loan Fixed Rate (with Autopay)

SoFi Personal Loan Offer

SoFi offer you the chance to borrow up to $100,000 with the choice between a fixed or variable interest rate.

  • Recommended Credit Range: Good to excellent
  • Min. Loan Amount: $5,000
  • Max. Loan Amount: $100,000
  • Loan Term: 3, 5, or 7 years
  • Turnaround Time: Varies
  • Total Costs: Depends on your credit score.
  • Unemployment protection
  • Confidential and secure online application

    Compare SoFi loans

    Rates last updated October 23rd, 2017
    Name Product Minimum Credit Score Max. Loan Amount APR Product Description
    SoFi Personal Loan Fixed Rate (with Autopay)
    670
    $100,000
    From 5.49% (fixed)
    Borrow up to $100,000 with a competitive APR and no fees.
    SoFi Personal Loan Variable Rate (with Autopay)
    Good to excellent credit
    $100,000
    From 5.19% (variable)
    Borrow up to $100,000 with this highly rated lender offering competitive APRs and no fees.
    SoFi Student Loan Refinancing Variable Rate (with Autopay)
    Good to excellent credit
    full balance of your qualified education loans
    From 2.815% (variable)
    A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.
    SoFi Student Loan Refinancing Fixed Rate (with Autopay)
    Good to excellent credit
    full balance of your qualified education loans
    From 3.35% (fixed)
    Refinance your student loans and pay them off sooner at fixed rates through this highly rated lender.

    Compare up to 4 providers

    Benefits of a SoFi personal loan

    These are the key attributes of a SoFi personal loan:

    • Variable loan amount. The minimum you can borrow through a SoFi personal loan in most states is $5,000, and the maximum is $100,000. The maximum you qualify to borrow depends on factors including your creditworthiness, your existing financial situation and state regulations.
    • Competitive interest. If you choose to get a variable rate loan, the APR will start at 5.74% APR. Existing variable rates for individuals who set up automatic payments through AutoPay start at 5.19% APR. SoFi has a cap on its variable rate loans, so no matter how high prevailing interest rates climb, your variable rate loan will never exceed 14.95%.
    • Variable loan term. SoFi provides loan terms of three, five and seven years. You can choose the loan term based on your ability to make repayments. Remember that while longer loan terms will have lower repayments, you will end up paying more in interest.
    • Fees. You don’t have to pay any loan origination fees for a SoFi personal loan. If you wish to pay the loan off ahead of time there is no prepayment penalty. If you make a payment more than 15 days after the scheduled due date you’ll have to pay a late fee.
    • Unemployment protection. If you end up losing your job through no fault of your own, you can apply for the SoFi Unemployment Protection Program. SoFi puts the loans of approved individuals into forbearance and suspends their monthly repayments temporarily. SoFi offers this program in increments of three months, and it comes with a cap of 12 months. Interest continues to accrue during this period. SoFi’s career services program can also help you look for a new job.
    • Repayment methods. If you set up automatic electronic payments via ACH you can get a 0.25% discount on the APR you have to pay. You can also make one-time online payments via your bank, or send paper checks.
    • Customer support. SoFi provides over-the-phone customer support seven days a week, or you can contact a SoFi representative by email.

    What other borrowing options does SoFi offer?

    Other offerings from SoFi include:

    • Mortgage loans. A SoFi mortgage loan can be made with as little as 10% down payment, and it offers flexible debt-to-income limits. You don’t have to pay any application fees or loan origination fees.
    • Mortgage refinancing. If you’re paying more interest on your existing mortgage than you should, you can consider refinancing it through SoFi. The entire process takes less than 30 days, and you can find out how much you pre-qualify for even before submitting a complete application.
    • Student loan refinancing. SoFi lets you refinance your existing student loan and you can choose between fixed and variable APRs. If you set up AutoPay, the fixed rate can be as low as 3.6% APR, and the variable rate can be as low as 2.815% APR. SoFi also offers career support in the form of interview coaching, learning negotiating tactics and more. SoFi also offers Parent Loans and Parent PLUS Loan Refinancing for parents paying for their children’s college education.
    • MBA loans. If you’ve decided to pursue a graduate degree you can think about an MBA loan through SoFi. You can choose to make interest-only repayments while at school, and you get to select between fixed and variable APRs.

    How can you apply for a personal loan from SoFi

    Applying for a SoFi personal loan is easy. To begin now simply click on the “Go to Site” button on this page. Before you do, make sure you meet the eligibility criteria as listed below:

    • You’re an American citizen or a permanent resident of the US
    • You meet your state’s minimum age requirements
    • You have a regular source of income

    You’ll have to provide the following information to complete your application successfully:

    • Your full name and contact information
    • Details from an acceptable form of government identification such as your driver’s license or passport
    • Your Social Security number
    • Details about your employment, income and expenses

    Disclaimer

    Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

    Student Loan Refinance
    ​*​Fixed rates from 3.35% APR (with AutoPay). Variable rates from 2.815% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.815% APR assumes current 1 month LIBOR rate of 1.24% plus 1.825% margin minus 0.25% ACH discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. 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. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.

    Personal Loans
    ​*​​Fixed rates from 5.49% APR (with AutoPay). Variable rates from 5.19% APR (with AutoPay). SoFi rate ranges are current as of July 1,2017 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. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.19% APR assumes current 1-month LIBOR rate of 1.24% plus 4.20% margin minus 0.25% autopay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. 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.

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