SoFi® vs. Prosper: Which is better?

SoFi stands out for its attractive interest rates and larger loan offerings for those with higher credit scores and incomes. It also offers a suite of personal finance education tools. Prosper, on the other hand, is more inclusive of those with lower credit scores who need smaller loan amounts.

SoFi vs. Prosper: A quick comparison

• SoFi's terms and conditions

  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 other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2025 was around $32K. Information current as of 07/20/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
  
  Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount.
  
  SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 07/20/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. 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, income, and other factors.
  
  Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan
  proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
  
  Autopay: 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. Autopay is not required to receive a loan from SoFi.
  
  Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
  
  Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
  
  Direct deposit. To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.

SoFi vs. Prosper: Which one’s better?

SoFi, known for lower interest rates and membership perks, wins due to its optional fees, lower maximum interest rates and flexible terms. However, both SoFi and Prosper can be compatible options for borrowers, depending on your needs. SoFi is best for borrowers who need larger loan amounts, while Prosper is better for borrowers with a lower credit score who only need up to $50,000 in funding.

When to consider SoFi

SoFi is best for people who want:

• Larger loan amounts. SoFi allows you to borrow up to $100,000 if you meet its eligibility criteria.
• No additional fees. SoFi does not add any origination, prepayment or even late fees if you’ve missed your payment.
• Discounts. SoFi offers a 0.25% discount on your loan monthly payments if you choose an automatic payment via your bank account.

When to consider Prosper

Prosper is best for people who:

• Want smaller loan amounts. Prosper allows a minimum loan amount of $2,000 for borrowers who need less than the $5,000 minimum set by SoFi.
• Have lower credit profiles. Prosper states it lends out loans to borrowers with a minimum credit score of 640 as long as they meet other criteria.
• Seek a peer-to-peer lending experience. A peer-to-peer lending experience allows a borrower to customize their repayment options from 2 to 7 years.

The similarities

Both companies offer competitive rates and flexible eligibility requirements with minimum credit scores in the 600 range. They are both highly rated lenders by customers on Trustpilot and have a straightforward online application process that offers applicants a range of loan amounts to choose from.

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Alternatives to SoFi and Prosper

Here is a list of other lenders that could align with what you’re looking for.

• Upgrade: Upgrade offers fixed-interest loan products up to $50,000. Depending on the lender’s set terms, you may have up to seven years to repay your loan. A hardship program is also available to help with repayments.
• Best Egg: Best Egg offers personal loans with APRs starting from 6.99% and offers loan amounts up to $100,000 with a variety of repayment methods. It was ranked the number one company in 2021 by Best Company, a consumer review site.
• Avant: Avant is more lenient than most lenders since it does not require a credit score and welcomes self-employment income.

See how other lenders stack up

Looking for more side-by-side comparisons of similar lenders? Here are a few that you might find helpful:

• LendingClub vs. LendingTree
• SoFi vs. Best Egg
• Upstart vs. Prosper