How it works

The secret to
our low rates?

SoFi takes a unique approach to lending, offering lower interest rates and big savings. Here's how.

We're digital.

Doing business online allows us to keep expenses down. We then pass these savings onto our members.

Since we don't have brick-and-mortar branches, we save on operating costs.

Online applications allow us to get through information faster and waste less time.

Our customer service team is based out of California and Utah, offering streamlined support seven days a week.

We're selective.

We look beyond just credit scores and debt-to-income ratios to consider factors like estimated cashflow, career, and education. So while other lenders charge higher rates to account for the possibility that borrowers won't pay back their loans, our unique underwriting process helps ensure our members have a high likelihood of making their payments.

Since almost all SoFi members pay back their loans on time, we're able to offer lower rates.

SoFi offers tools and resources to empower our members and help them reach their goals.

If a SoFi member loses their job*, we'll temporarily pause their payments and coach them through the job hunt to find that next opportunity.

We're innovative.

We offer products that put our members first. We've taken a new-school approach (rather than repeating what old-school banks have done for decades).

Questions? Call us for a free consultation at 855-456-7634.

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