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So, what is a personal loan?

A personal loan is a borrowed sum of money that is paid back with interest in installments. With a SoFi Personal Loan, you can borrow between $5,000 and $100,000 for various expenditures that include home improvements, credit card consolidation, IVF, even unplanned life events that call for emergency funds, and more. You can also check your rate in 60 seconds without affecting your credit score†, and get your loan funded as soon as the same day you’re approved.^*

Learn more

Best Personal Loan of 2022.

SoFi’s Personal Loan has been named NerdWallet’s 2022 winner for Best
Personal Loan for Good and Excellent Credit—for the second year running!—
and Best Online Personal Loan overall. Check out all the reasons our personal
loan deserves all the accolades:

©2017-2022 and TM, NerdWallet, Inc. All rights reserved.

Personal loans for what you
need—and when you need them.

Explore all the ways a low-interest personal loan can simply make life’s moments—from the big milestones, to small weekend projects, and everything in-between—totally affordable, and completely doable.

Low rates. No fees.
Easy online application.

See how easy applying for a SoFi Personal Loan online can be.

View your rate

(without impacting your credit score)^†

Start saving thousands with a low, fixed rate.

Did you hear credit card
variable rates are rising in 2022? See how
you can save thousands on interest by
consolidating debt into a low fixed
monthly payment.

See your savings

Example chart shows calculations based on a 5 year SoFi Personal
Loan with a fixed rate of 11.66% 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 March 28 2021-March 28 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 Q4 2021 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.

Personal loan tools, tips, resources,
and more.

Our online resource center provides you with over 500 articles, budgeting tools, and guides—all with the goal of helping you Get Your Money Right®.

Visit SoFi Learn

FAQs

See all FAQs

Get started in 60 seconds.

Speed matters. Which is why you can view your personal loan rate—in 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 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. 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. Loans originated by SoFi Lending Corp. or an affiliate (dba SoFi) are subject to state restrictions and may not be available in all states, such as MS; see SoFi.com/eligibility-criteria for details and state restrictions.

SoFi Lending Corp. or an affiliate is licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. NMLS #1121636 (www.nmlsconsumeraccess.org).

Personal Loan Rates and Terms: Fixed rates from 8.74% APR to 35.49% APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 12/14/25 and are subject to change based on market conditions and borrower eligibility. SoFi Personal Loans are not available to residents of MS. 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 in specific states due to legal requirements 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 2020 was around $32k. 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 only 2, 3, 4, 5, 6, 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: 87% of typical SoFi personal loan applications, excluding Direct Pay personal loans and personal loan refinance, from January 1st 2021-September 27th 2021 that were signed before 7pm ET on a business day were funded the same day.

Retail spending held steady last month despite soaring inflation, but the long-term outlook varies for different businesses.

The key takeaway from April’s CPI reading was that even if inflation cools, it’s going to be sticky and uncomfortably high without a deeper pullback in demand.