Compare Even Financial vs. SoFi Personal Loans

What’s the difference between Even Financial Personal Loans and SoFi Personal Loans? See how our editors compare the two companies below.
Last Updated: March 14, 2018
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Even Financial
9.7 / 10 - Excellent
#2 in Personal Loans
SoFi Personal Loans
9.7 / 10 - Excellent
#4 in Personal Loans

Key Facts

  • Unsecured personal loans from $1,000 to $100,000
  • Loans for debt consolidation, large purchases, home improvement, medical expenses, and more.
  • Even compares top loan providers and matches you instantly
  • Rates starting at 4.99% APR 
  • Loan terms from 24-84 months
  • Funds available as soon as next business day
  • Loan search is free and will NOT affect credit score
  • Our #1 choice for borrowers with excellent credit
  • Up to $100,000 for debt consolidation, home improvements & more
  • No origination fees or pre-payment penalties, unemployment protection
  • As low as 5.49% fixed or 5.21% variable (with AutoPay)
  • Loan terms of 3-7 years
  • SoFi borrowers improved their credit scores by paying off credit card debt*


 Even FinancialSoFi
Loan Specifics10/1010/10
Cost of Loan10/1010/10
Lender Reputation10/1010/10

Even Financial Loan Specifics

Loan Uses

 Even FinancialSoFi
Debt/Credit Card Consolidation
Buy Home
Major Purchase
Home Improvement
Medical Expenses
Start Business
 Even FinancialSoFi
Loan Minimum
Loan Maximum
Term Length
2-7 Years
3-7 Years
Direct Deposit
Pay Creditors Directly
Decision Time
Just a few minutes
Disbursement Time
Next business day
A few days
Credit Insurance
Unemployment Protection

Representative Loan Sample

If you borrow $5,000 on a 36 month repayment term and at a 10% APR, the monthly repayment will be $161.34. Total repayment will be $5,808.24. Total interest paid will be $808.24.
A consumer borrowing $5,000 at a 6% APR over a 24-month period would end up paying a total of $5,318.47.

Even Financial Qualification

 Even FinancialSoFi
Minimum FICO Score
Not specified
Personal Income Considered
Debt to Income Ratio
Not specified
Verify Bank Account
U.S. Citizen
Hard Credit Pull

Alternative Factors to Credit Score Considered

Even Financial Cost of Loan

 Even FinancialSoFi
APR Range
4.99% - 35.99%
Origination Fee
Depends on lender
Missed Payment Penalty
Depends on lender
Lesser of 4% of the payment due or $5.

Other Fees

 Even FinancialSoFi
Application Fee
Pre Payment Penalty
Administration Fee
Returned Check Fee
Check Processing Fee

Even Financial Reputation

 Even FinancialSoFi
Type of Lender
Year Founded


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. (


Fixed rates from 5.49% APR to 14.24% APR (with AutoPay). Variable rates from 5.21% APR to 11.67% APR (with AutoPay). SoFi rate ranges are current as of January 2, 2018 and are subject to change without notice. Not all rates and amounts available in all states. 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 5.21% APR assumes current 1-month LIBOR rate of 1.57% plus 3.89% 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.


Individual results vary. 82% of people who used their SoFi Personal Loan to consolidate $10,000+ of credit card debt saw their FICO scores increase an average of 17 points within 2 months. Average FICO score increases are based on funded members from November through December 2016. Increase was computed by comparing reported Version 8 FICO scores at the time of application against the same scores on January 18, 2017.

Company Profile

Full Name
Even Financial Personal Loans
SoFi Personal Loans
Company Website
45 W. 21st St., New York, NY, 10010
1 Letterman Dr Bldg A STE 4700, San Francisco, CA, 94129

Final Verdict

Even Financial Personal Loans and SoFi Personal Loans are very close in quality and have the same overall rating. That said, Even Financial scores better than SoFi across: Qualification, and Lender Reputation. Whereas, SoFi scores better on Cost of Loan. Both companies score similarly on Loan Specifics.

Customer Comments & Reviews

Kelli H
Puyallup, Washington
SoFi Personal Loans review
What is your minimum credit score requirement?

SoFi Personal Loans review
I disagree with the negative reviews on SoFi. The process for me was absolutely phenomenal! The rate offered preliminarily was the rate that we closed at. If you give them factual information upon which to base the terms, they are true to their offer. The only suggestion I would make to them would be to add an automatic notification system in place for when the status of the loan application changes. I figured out that you have to log in to check the status but it moved really quickly. From the date that I requested the preliminary offer to the date that the (substantial) amount was in my bank account, took only 6 business days, and would probably have been sooner if I did not miss two days during the process when I did not actively check-in. The process is so much quicker and simpler than the traditional financial institutions. SoFi's customer service chat is also always available, knowledgeable and helpful, they resolved any question I had promptly. The legal documentation is simply written so easily understandable which is a refreshing change. Thanks for a great experience.

William S
Arlington, Virginia
Even Financial Personal Loans review
I cannot comment because I have no experience for this provider. I could comment if loan is approved.

Clarksdale, Mississippi
Even Financial Personal Loans review
I understood everything well.

Germantown, Maryland
Even Financial Personal Loans review
Easy process and simple to use. Highly recommended for you personal loan needs. I was able to find a lender and secure a loan quickly.

Brooklyn, New York
Even Financial Personal Loans review
Straightforward process, very transparent and easy to understand rates and terms.

Will H
SoFi Personal Loans review
Firstly, yes, the process can be a bit lengthy if SoFi needs additional documentation but they are authorizing high loan amounts and need to be cautious. Next, overall this was an excellent experience and I would recommend them to anyone. They are in no way fully FICO driven, rely on history and income more. The experience I had with everyone of their agents was exceptional. Friendly reps who truly helped. Their phones were always answered by two rings. Incredible!!!!

Lubbock, Texas
SoFi Personal Loans review
Loan for $50,000.00 was denied. Although I have a great history of making payments to my outstanding loans, my Expense to Income ratio shows that I am paying at least 55% of my income compared to my income. The reason given was that the underwriter determined that they couldn't be assured that I would use the funds that would be deposited to my bank account would be used to pay down my credit cards. I also indicated that I would pay an additional amount over and above the indicated monthly payment for a 7 year loan. I think this is a downfall for the underwriters which could easily make direct payments to the merchants and they would know where the funds went. This information could come from the applicant as the amount which would go to each creditor. I'm am disappointed.but the score I gave is for the underwriters and not against SOFI. They were very helpful and had a good process for applying for a load.