SoFi Personal Loans Review


Rating: 9.2 / 10 (Excellent)
43 Customer Reviews - see all reviews
Disclosure: We receive advertising revenue from this partner. Learn more.
How is SoFi rated?
10/10
Loan Basics
10/10
Additional Fees
10/10
Types of Lenders
10/10
Application Process
10/10
Service Features
9/10
Customer Service
10/10
Reviews
7/10
Loans for Good Credit

SoFi is the second largest marketplace lender around today, providing student loan refinancing, mortgages, and personal loans. With over $14 billion in loans issued to date, SoFi offers some of the most attractive rates in the industry. They can do this given their nontraditional underwriting approach that takes into account merit and employment history, among other factors. You can borrow between $5,000 and $100,000 with variable rates 4.78%-10.88% APR (with AutoPay) or fixed rates 5.70%-14.24% APR (with AutoPay). SoFi offers both fixed and variable rate options. Equally as important, they don't charge any origination or prepayment fees – what you see if what you get.

Category

Direct loan service

Loan Details

Unsecured Personal Loans

Minimum Loan Amount

$5,000

Maximum Loan Amount

$100,000

Minimum Loan Period

3 Years

Maximum Loan Period

7 Years

Loan Rates

Fixed: 

  • 5.70%-14.24% APR (with AutoPay)
  • 5.95%-14.49% APR (without AutoPay)

Variable

  • 4.78%-10.88% APR (with AutoPay)
  • 5.03%-11.13% APR (without AutoPay)
  • Rate cap 14.95%

Direct Deposit

Sign your documents and funds are wired to your account

 

SoFi Representative Sample

A consumer borrowing $5,000 at a 6% APR over a 24-month period would end up paying a total of $5,318.47.

 

Application

Online Application Time

A few minutes

Response Time

Not Stated

Qualification

US Citizen or Permanent Resident

Age of majority in your state

Currently Employed

Information Used

Credit History

Income

Employment Status

SoFi Personal Loan Summary

SoFi offers one of the highest loanable amounts for personal loans making it a useful financial tool that can be used for funding different financial needs. SoFi focuses on delivering a great customer experience and even provides unemployment protection as an additional benefit. SoFi is an excellent choice for personal loans with its high loan limit and competitive interest rates. However, in order to avail of these benefits clients must show a history of responsible lending and strong credit rating.

 

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Latest Reviews

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J
JP
2/21/2017
Scam! Terrible service. Bait and switch. They tell you that you are "pre-approved" pending a few steps. Then they hit your credit report with a hard inquiry and suddenly your interest rate is jacked up to over 14.9%. Then when I ask for answers, they stop responding. I even sent an email to the CEO and he failed to respond. Look, there are plenty of reputable places to secure a loan (such as a BANK) with a reputation. Why deal with pop-up lending companies that come and go and rip you off and screw up your credit report. I wish I would have read the reviews before applying!! Run from this company!

D
Deborah
,
2/21/2017
Yes I would like to get a personal loan with bad credic by tomorrow asap its an emergency I really need a quick answer please my email is [email protected]

L
Lasheka Mackey
Jackson, Tennessee
2/13/2017
I love the that it was a easy process to create a account and apply for a loan.

A
Alexandria
2/12/2017
Medical expenses

S
[email protected]
Melbourne, Florida
2/10/2017
SoFi is an interesting option for a personal loan, but think you can compare and maybe do a bit better. I found some good choices at OnePersonalLoans.com for anyone interested.

A
Anthony wilkins
2/7/2017
I think this is very helpful to those in need

Remy Mukendi Nkongolo
Tokyo, Tokyo
2/4/2017
ありがとう😉👍🎶ございます‼よろこんで遊び学び踊り満足できること🎵直ちに稼ぎ続け、充実させるコツもいいね🎵共に得意?楽しみ?悩み事?改善‼頼もしいビジネスを長く繋がり提供するのでよろしく😉👍🎶お願いいたします‼decent earn ing , pay money supply to overcome poverty humiliation ?VOILA -BONHEUR business model ,le centre bon hedonism ministry unavailable SNS smart HOURS -NON stop PINTEREST ing , face booking , Google ing , Yahoo ing , you tuber ing ?VOILA prepaid dcard fund for real deal with million s People's dream -INSTANTLY method as well -MONETIZE @mukendinkongolo .cc leisurely ?literacy TOUT -PINTEREST -BONHEUR business DEBUT from Japan to DRC -WORLD widely - transactional PINTEREST ing

R
Robert
2/3/2017
Best I believe I found searching the web.

M
mercy berry
2/3/2017
Do you need a loan ? we offer all kinds of loans at 2% interest rate.if you are interested, contact us today via email for more information. ([email protected])

D
Deborah
2/3/2017
Nothing yet so important waiting

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