SoFi Blog

How to get a SoFi Personal Loan:

It’s easy to obtain your very own SoFi Personal Loan online—your ticket around the board in 2023. You’re up!

View your rate

(without impacting your credit score)^†

Compared to credit cards, our fixed-rate personal loan is an ace.

See how a SoFi Personal Loan could help you save thousands on interest compared to high-interest credit cards—so you can win, no matter how this year plays out.

Personal Loan

Balance

$33,097

---

Interest Rate

13.56% APR*

---

Monthly payment

$762

---

5-year interest paid

$12,658

---

High-interest rate credit card

Balance

$33,097

---

Interest Rate

21.20% APR

---

Monthly payment

$899

---

5-year interest paid

$20,849

---

See your savings

Example chart shows calculations based on a 5 year SoFi Personal Loan with a fixed rate of 13.56% APR, which is the rounded average median funded APR for SoFi Personal Loan borrowers who took out a loan with a 5 year term” from November 1 2021- November 1 2022. Lowest rates are reserved for the most qualified borrowers. The ‘High-Interest Rate Credit-Card’ APR shown is the average credit card APR reported by Wallethub for Q3 2022 under their Good Credit category. The savings estimate also assumes that the borrower doesn’t take out any additional credit card debt during the same period. Both calculations assume 60 total monthly payments and no pre-payment amounts.

It’s your move.

Start by viewing your rate on a personal loan—it only takes a literal minute.

View your rate

(without impacting your credit score)^†

✝ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

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 other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2021 was around $33k. Information current as of 12/15/25. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility-criteria for details and state restrictions.

Personal Loan Rates and Terms: Fixed rates from 8.74% APR to 35.49% APR reflect the 0.25% autopay discount. SoFi rate ranges are current as of 5/20/22 and are subject to change based on market conditions and borrower eligibility. Interest-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan. Minimum loan requirements might be higher than $5,000 and interest-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan. The average of SoFi Personal Loans funded in 2021 was around $33k. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Subject to receipt of required documentation, underwriting guidelines, and processing time by your institution. Loans for amounts over $20,000 may require additional underwriting review time. Funds are disbursed via ACH as soon as the next business day after approval and acceptance of terms.

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. Autopay is not required to receive a loan from SoFi.

PERSONAL LOAN INTEREST RATES AND FEES | ELIGIBILITY AND IMPORTANT DETAILS. Annual percentage rates (APRs) shown include the 0.25% autopay discount. If approved for a loan, the rates and terms offered will depend on things like creditworthiness, the length of the loan, and other factors, and will fall within the range of rates available by applicable loan term; check out our full APR examples and terms. Remember, not all applicants will qualify for the lowest rate. Want to learn more? See our eligibility criteria at SoFi.com/eligibility-criteria. SoFi reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change. Fixed Rates: Fixed rates range from 8.74% APR to 35.49% APR (with autopay). 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. Enrolling in autopay is not required to receive a loan from SoFi. Loan Terms: SoFi Personal Loans offer loans with a period of repayment between 2 and 7-year terms. Loan Fees: SoFi personal loans have no fees; specifically, no origination fees, no late fees, no prepayment penalties.

PERSONAL LOAN | REPAYMENT EXAMPLE. The following example depicts the APR, monthly payment and total payments during the life of a $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 8.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,366.97–$1,763.32 for a total amount of payments ranging from $32,807.19–$42,319.74. This repayment example assumes that the borrower is signed up for autopay and that all payments are made on time, with no pre-payments. Actual rates may vary based on repayment term, loan amount, creditworthiness, and other terms and conditions. SoFi does not offer variable rate personal loans. State restrictions may apply.

* Same-Day Personal Loan Funding: 86% of typical SoFi Personal Loan applications, excluding Direct Pay Personal Loans and Personal Loan refinance, from January 1, 2021 to December 1, 2021 that were signed before 7pm ET on a business day were funded the same day.

How to get a SoFi Personal Loan:

It’s easy to obtain your very own SoFi Personal Loan online—your ticket around the board in 2023. You’re up!

View your rate

(without impacting your credit score)^†

Compared to credit cards, our fixed-rate personal loan is an ace.

See how a SoFi Personal Loan could help you save thousands on interest compared to high-interest credit cards—so you can win, no matter how this year plays out.

Personal Loan

Balance

$33,097

---

Interest Rate

13.56% APR*

---

Monthly payment

$762

---

5-year interest paid

$12,658

---

High-interest rate credit card

Balance

$33,097

---

Interest Rate

21.20% APR

---

Monthly payment

$899

---

5-year interest paid

$20,849

---

See your savings

Example chart shows calculations based on a 5 year SoFi Personal Loan with a fixed rate of 13.56% APR, which is the rounded average median funded APR for SoFi Personal Loan borrowers who took out a loan with a 5 year term” from November 1 2021- November 1 2022. Lowest rates are reserved for the most qualified borrowers. The ‘High-Interest Rate Credit-Card’ APR shown is the average credit card APR reported by Wallethub for Q3 2022 under their Good Credit category. The savings estimate also assumes that the borrower doesn’t take out any additional credit card debt during the same period. Both calculations assume 60 total monthly payments and no pre-payment amounts.

It’s your move.

Start by viewing your rate on a personal loan—it only takes a literal minute.

View your rate

(without impacting your credit score)^†

✝ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

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 other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2021 was around $33k. Information current as of 12/15/25. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility-criteria for details and state restrictions.

Personal Loan Rates and Terms: Fixed rates from 8.74% APR to 35.49% APR reflect the 0.25% autopay discount. SoFi rate ranges are current as of 5/20/22 and are subject to change based on market conditions and borrower eligibility. Interest-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan. Minimum loan requirements might be higher than $5,000 and interest-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan. The average of SoFi Personal Loans funded in 2021 was around $33k. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Subject to receipt of required documentation, underwriting guidelines, and processing time by your institution. Loans for amounts over $20,000 may require additional underwriting review time. Funds are disbursed via ACH as soon as the next business day after approval and acceptance of terms.

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. Autopay is not required to receive a loan from SoFi.

PERSONAL LOAN INTEREST RATES AND FEES | ELIGIBILITY AND IMPORTANT DETAILS. Annual percentage rates (APRs) shown include the 0.25% autopay discount. If approved for a loan, the rates and terms offered will depend on things like creditworthiness, the length of the loan, and other factors, and will fall within the range of rates available by applicable loan term; check out our full APR examples and terms. Remember, not all applicants will qualify for the lowest rate. Want to learn more? See our eligibility criteria at SoFi.com/eligibility-criteria. SoFi reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change. Fixed Rates: Fixed rates range from 8.74% APR to 35.49% APR (with autopay). 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. Enrolling in autopay is not required to receive a loan from SoFi. Loan Terms: SoFi Personal Loans offer loans with a period of repayment between 2 and 7-year terms. Loan Fees: SoFi personal loans have no fees; specifically, no origination fees, no late fees, no prepayment penalties.

PERSONAL LOAN | REPAYMENT EXAMPLE. The following example depicts the APR, monthly payment and total payments during the life of a $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 8.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,366.97–$1,763.32 for a total amount of payments ranging from $32,807.19–$42,319.74. This repayment example assumes that the borrower is signed up for autopay and that all payments are made on time, with no pre-payments. Actual rates may vary based on repayment term, loan amount, creditworthiness, and other terms and conditions. SoFi does not offer variable rate personal loans. State restrictions may apply.

* Same-Day Personal Loan Funding: 86% of typical SoFi Personal Loan applications, excluding Direct Pay Personal Loans and Personal Loan refinance, from January 1, 2021 to December 1, 2021 that were signed before 7pm ET on a business day were funded the same day.

SoFi is rolling out early access to Pay in 4 to select SoFi members over the coming weeks. Pay in 4 is designed to provide SoFi members increased flexibility when it comes to large purchases.

Gas prices are cheaper than they were last year. Just how low will they go?

With the holidays coming up and inflation still hitting wallets hard, SoFi is continuing to raise our rates to ensure our members always get the most for their hard-earned money.

SoFi is raising our APY (yes, again!) to 3.25%¹, 13x the national average savings account rate², on all savings balances (including Vaults) for direct deposit members. Members with direct deposit will also continue to earn 2.50%, 62x the national average³, on checking balances. SoFi members without direct deposit will continue to earn 1.20% APY on all of their balances (across checking, savings and Vaults).

To help members put more money in their pocket, SoFi is offering even more ways to get your money right:

•  Earn up to $250 for adding qualifying direct deposits⁴: SoFi is offering up to $250 as a cash bonus for new members who sign up and set up qualifying direct deposits—or existing members who set up qualifying direct deposits before 1/31/23.

•  Earn up to 3% cashback on the SoFi Credit Card⁵: Members that open a new SoFi Credit Card and also have Checking and Savings account with a qualifying direct deposit or existing credit card members who set up a new direct deposit to SoFi Checking & Savings for the first time can start earning 3% cash back on all eligible credit card purchases for 365 days. Apply for a credit card here.6

Interested in earning more? Sign up for SoFi Checking & Savings. Already a member? Set up your SoFi direct deposit to make sure you get the most out of your money.

Disclosures:

1. SoFi members with direct deposit can earn up to 3.25% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 3.25% APY for savings and 2.50% APY for checking balances. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 11/30/2022. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

2. 13x based on FDIC monthly savings account rate as of November 30, 2022.

3. 62x based on FDIC monthly interest checking rate as of November 30, 2022.

4. The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit program (“Program”) offered by SoFi Bank, N.A Member FDIC (“SoFi”).

Eligible Participants: All new and existing members without a history of direct deposit transactions into their SoFi Checking and Savings account are eligible for the Program. Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings do not qualify for this promotion.

Promotion Period: The Program will be available through 1/31/23 11:59PM ET.

Bonus Terms: In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit (as defined below) from an Eligible Participant before the end of the Promotion Period. Qualifying Direct Deposits are defined as deposits from an enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. The amount of the bonus, if any, is described below. No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period (defined below).

Evaluation Period: The Evaluation Period begins when SoFi receives a Qualifying Direct Deposit (within the Promotion Period) and ends 25 days later (the “Evaluation Period”). The bonus amount will vary based on the total amount of Qualifying Direct Deposits received during the Evaluation Period. Once the Evaluation Period has elapsed, we will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within 7 business days. For example, if SoFi receives between $1,000.00 and $4,999.99 in Qualifying Direct Deposits during the Evaluation Period, you will receive a cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if inflows subsequently increase after the Evaluation Period.

Total Qualifying Direct Deposit amount in 25-day Evaluation Period

$1,000.00 – $4,999.99: $50 cash bonus
$5,000.00 or more: $250 cash bonus

Payment timeline: SoFi will credit members who meet qualification criteria within 7 business days of the end of the Evaluation Period.

Bonuses are considered miscellaneous income and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or change the Program at any time.

5. You will need to maintain a qualifying Direct Deposit every month with SoFi Checking and Savings in order to continue to receive this promotional cash back rate. Qualifying Direct Deposits are defined as deposits from enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. A maximum of 36,000 rewards points can be earned from this limited-time offer. After the promotional period ends or once you have earned the maximum points offered by this promotion, your cash back earning rate will revert back to 2%. 36,000 rewards points are worth $360 when redeemed into SoFi Checking and Savings, SoFi Money, SoFi Invest, Crypto, SoFi Personal Loan, SoFi Private Student Loan or Student Loan Refinance and are worth $180 when redeemed as a SoFi Credit Card statement credit.

Promotion Period: The Program will be available from 4/5/22 12:01AM ET to 12/31/22 11:59PM ET. SoFi reserves the right to exclude any Member from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time.

Eligible Participants: All new members who apply and get approved for the SoFi Credit Card, open a SoFi Checking and Savings account, and set up Direct Deposit transactions (“Direct Deposit”) into their SoFi Checking and Savings account during the promotion period are eligible. All existing SoFi Credit Card members who set up Direct Deposit into a SoFi Checking & Savings account during the promotion period are eligible. All existing SoFi members who have already enrolled in Direct Deposit into a SoFi Checking & Savings account prior to the promotion period, and who apply and get approved for a SoFi Credit Card during the promotion period are eligible. Existing SoFi members who already have the SoFi Credit Card and previously set up Direct Deposit through SoFi Money or SoFi Checking & Savings are not eligible for this promotion.

6. Accounts subject to additional credit approval. To qualify for approval, you must meet SoFi’s pre-established underwriting requirements, including verification of sufficient income to support your ability to pay. We will not extend you credit if you do not meet our pre-established criteria. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. If approved for a SoFi Credit Card, your credit access line will be at least $1,000. Your eligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by SoFi Bank, N.A, as issuer, pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Please allow up to 30 days from date of submission to process your application. The card offer referenced in this communication is only available to individuals who are at least 18 years of age (or of legal age in your state of residence), and who reside in the United States.