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Personal Loan Review🛡️ Best Member Perks

SoFi Personal Loan

SoFi

APR 6.99%–35.49% on loans from $5,000 to $100,000.

At a Glance

APR Range

6.99%–35.49%

Loan Amount

$5,000–$100,000

Term Length

24–84 months

Min. Credit Score

650

Origination Fee

None (optional fee for lower rate)

Funding Time

As soon as same day

Rates & Fees

APR Range

6.99%–35.49%

Origination Fee

None (optional fee for lower rate)

Prepayment Penalty

None

Late Fee

Applies after the grace period; amount varies by state — confirm current terms with SoFi

Autopay Discount

0.25% APR discount with autopay

Funding Time

As soon as same day

Key Features

Unemployment protection — pause payments if you lose your job

Career coaching included with membership

No fees required

Pros & Cons

Pros

  • Soft credit check for pre-qualification
  • Unemployment protection benefit
  • Fast funding

Tradeoffs

  • Rates can be high for average credit
  • Origination fee option can be confusing
  • Minimum $5,000 loan amount

How to Apply

Check your rate with SoFi — most personal loan lenders let you pre-qualify with a soft credit check that doesn't affect your credit score.

Compare the estimated APR, term, and monthly payment against at least one other lender before committing.

Gather proof of income, identification, and bank account details for the formal application.

Submit the full application directly on SoFi's site; approval typically requires a hard credit inquiry.

If approved, review the final loan agreement for the origination fee and funding time (as soon as same day) before signing.

How It Compares

Current product highlighted
ProductAPR RangeLoan AmountOrigination Fee
SoFi Personal Loan6.99%–35.49%$5,000–$100,000None (optional fee for lower rate)
LightStream Personal Loan7.24%–24.89%$5,000–$100,000None
LendingClub Personal Loan5.96%–35.96%$1,000–$75,0000–8%
Upgrade Personal Loan7.74%–35.99%$1,000–$50,0001.85–9.99%

Frequently Asked Questions

What credit score do I need for a SoFi personal loan?

SoFi generally looks for a credit score around 650+ for the SoFi Personal Loan, though your actual rate within the 6.99%–35.49% range depends on income, debt-to-income ratio, and loan term.

Does SoFi charge an origination fee?

SoFi's origination fee is listed as "None (optional fee for lower rate)." An origination fee is typically deducted from your loan proceeds up front, so it affects how much cash you actually receive.

How fast does SoFi fund a personal loan?

SoFi advertises funding times of "As soon as same day." Actual timing can vary based on verification requirements and your bank's processing speed.

Are there prepayment or late fees on the SoFi Personal Loan?

Prepayment penalty: None. Late fee: Applies after the grace period; amount varies by state — confirm current terms with SoFi. Paying off a personal loan early is usually fine as long as there's no prepayment penalty, but always confirm before making a large extra payment.

How does the SoFi Personal Loan compare to other personal loans?

See the "How It Compares" table on this page for a few close alternatives side by side, or browse the full list of personal loans to compare APR, loan amount, and fees across more lenders.

Other Personal Loans

LightStream Personal Loan

7.24%–24.89% APR

LendingClub Personal Loan

5.96%–35.96% APR

Upgrade Personal Loan

7.74%–35.99% APR

Rates and terms shown are illustrative as of 2026 and vary based on creditworthiness, income, and loan amount — always confirm current terms directly with the lender.

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