The rates shown below include the autopay discount and Direct Deposit discount (0.25%). The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) 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. The discount will not reduce the monthly payment; instead, the discount is applied to the principal loan balance and is intended to help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi.
SoFi reserves the right to change interest rates at any time without notice. Such changes will only apply to applications begun after the effective date of the change. Your actual interest rate may be different than the interest rates in these examples and will be based on term of loan, your financial history, and any other factors. State restrictions may apply.
The minimum payment of $100/month while in the Residency Period may not pay all of the interest that accrues each month during the Residency Period. Any unpaid interest that has accrued and remains unpaid at the end of the Residency Period will be added to the principal balance at the end of the Residency Period. Thereafter, interest will accrue on this new principal balance.
How to read the repayment tables
The repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments while in residency for a total of 4 years and have a 6-month grace period (together, the “residency period”) before the full repayment term begins. In addition, the examples below assume payments begin 1 month after the single lump sum disbursement. SoFi does not charge any application or origination fees, and no prepayment penalties.
Calculations are estimates only.
| Full Repayment Term | APR range with autopay 1 |
Monthly payment amount during residency period (54 months) |
Monthly payment amount during full repayment period term |
Total of Payments |
|---|---|---|---|---|
| 5 Year | 6.14% – 8.89% | $100 | $1,939.80 – $2,070.50 | $116,387.80 – $124,230.06 |
| 7 Year | 6.29% – 8.94% | $100 | $1,474.80 – $1,605.86 | $123,883.01 – $134,892.62 |
| 10 Year | 6.29% – 9.19% | $100 | $1,124.82 – $1,277.06 | $134,978.88 – $153,247.60 |
| 15 Year | 6.49% – 9.39% | $100 | $870.56 – $1,037.60 | $156,700.39 – $186,767.52 |
| 20 Year | 6.74% – 9.84% | $100 | $759.77 – $954.44 | $182,344.70 – $229,066.79 |
| Full Repayment Term | APR range with autopay 1 |
Monthly payment amount during residency period (54 months) |
Monthly payment amount during full repayment period term |
Total of Payments |
|---|---|---|---|---|
| 5 Year | 6.14% – 8.89% | $100 | $1,939.80 – $2,070.50 | $116,387.80 – $124,230.06 |
| 7 Year | 6.29% – 8.94% | $100 | $1,474.80 – $1,605.86 | $123,883.01 – $134,892.62 |
| 10 Year | 6.29% – 9.19% | $100 | $1,124.82 – $1,277.06 | $134,978.88 – $153,247.60 |
| 15 Year | 6.49% – 9.39% | $100 | $870.56 – $1,037.60 | $156,700.39 – $186,767.52 |
| 20 Year | 6.74% – 9.84% | $100 | $759.77 – $954.44 | $182,344.70 – $229,066.79 |
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