SoFi Blog

Tips and news—
for your financial moves.

Mar
14
2024

DM PL Variant

By | 1_Web_PL | Comments Off on DM PL Variant

Low rates.
No fees required.
Personal loans made
easy online.

Checking your rate will not affect your credit score.

  • Low monthly payments

    Save big by consolidating high-rate debt to one fixed payment.

  • Get $5K to $100K

    Get funds the same day you sign‡ or we can pay off your credit card directly.

  • Unemployment protection

    We’ll modify your payments and help you find your next role.4

  • See rates in 60 seconds

    No impact to your credit score.† No commitment.

Checking your rate will not affect your credit score.

Why apply for a SoFi Personal Loan?

  • Low rates

    Low fixed rates that won’t change over time, protecting you from rising interest rates.

  • No fees required

    That means no origination fees required, no prepayment penalty fees and no late fees whatsoever.

  • Same-day funding‡

    Your funds could be available as quickly as the same day your loan is approved.

  • Unemployment protection4

    We’ll help modify your payments and assist you in finding a new job.

Read more
Mar
14
2024

Financial Insights

By | Uncategorized | Comments Off on Financial Insights

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FINANCIAL INSIGHTS

Track your
money

like a
champion.


Get started

  • Easy to use dashboard

    Connect and view your accounts in one place.

  • Budgeting made simple

    Create budgets and review spending habits.

  • Free credit score

    Monitor your score and get updates when it changes.

  • Safe and secure

    Rest easy with multifactor authentication.


Get started

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Knowing your credit
score is the
first step to financial wellness.

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Keeping score

Get weekly updates, understand the factors that drive your credit score, and get rewards points* every time it goes up five points or more.

You’re covered

With multi-factor authentication, you can rest assured that your personal data is safe and secure.

Check it anytime

We only do a “soft” pull on your credit, so it won’t hurt your score or your wallet—plus it’s free.†

Powered by TransUnion®

Get your VantageScore® 3.0 credit score, a model developed by all three national credit reporting companies.


Get started

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Don’t take our word for it.
See what members have to say.

I love using SoFi to see an up to date snapshot on my full financial picture. Being able to pull in all my accounts, review equity in my home, and monitor my credit score gives me a true one stop shop to “get my money right.” Having up to date info all pulled together let’s me save time and feel confident that I know my full financial picture.

—Brad S.

Actual SoFi Ambassador.

SoFi has been the best tool to save me time, money and helps me accomplish my future financial goals and the best of all it’s all in one app. The setup is simple and you never have to go through several logins to see all your information on one screen.

—Anja C.

Actual SoFi Ambassador.

The best part about using SoFi is the ability to see your financials broken down by cash, investments, credit cards, loans and property. IT helps me have a better understanding of where all of my money lives and how it increases or decreases my net worth over time. SoFi has helped me become more confident with my financials and help me start to better prepare for retirement. This is a tool that everyone should take advantage of.

—Betty T.

Actual SoFi Ambassador.

SoFi has been incredibly helpful in having a clear, consolidated picture of my finances. A regularly updated credit score encourages me to constantly improve it, while seeing my investments gives me confidence for future goals and retirement. SoFi also keeps me honest when spending money and guides me towards better habits.

—Ethan T.

Actual SoFi Ambassador.

The best part about SoFi is the ability to see all my accounts, investment, credit, and more all in one place. SoFi offers me a one-stop-shop to view my net worth on all one platform. My spending and investing habits have improved thanks to the ability to see upcoming recurring expenses, monthly savings, and spending categories. Credit score monitoring also provided me with reminders that I was doing the right thing with my credit habits. All in all, I feel more confident than ever to lead my wallet into the world safely.

—Austin W.

Actual SoFi Ambassador.


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FAQs


What accounts can I link?
You can link your deposit account (checking, savings), investment, and retirement accounts as well as credit cards, student loans, mortgages, and other liabilities. If you’re not able to link your account, you will be able to manually add an account or asset (like an owned car or home) so that you’re able to see your entire net worth.


What are the primary components of my credit score?

SoFi leverages the TransUnion VantageScore 3.0 model which includes several key components:

  • Payment History – comprised of whether you regularly pay your bills on time.
  • Credit Age and Type – average age of your credit accounts and mix of various types such as revolving debt and installment debt. An example of revolving debt is a credit card and an example of installment debt is a student loan.
  • Credit Utilization – the percentage of your credit limit you currently have outstanding.
  • Balances – balances on your credit accounts including current balances as well as delinquent accounts.
  • Inquiries – recent inquiries or applications for new credit.
  • Available Credit – amount of available credit that is unused.



Will checking my credit hurt my credit score?

Checking your own credit report is considered a soft inquiry, which does not impact your credit score.



Why does my credit score matter?

Your credit score is used by lenders, among others, as they review your applications for credit and determine your creditworthiness which might influence if they are willing to extend credit and at what terms. It might also be used by landlords, utility providers, and prospective employers.


See more FAQs

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Learn more about budgeting.








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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 listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

✝︎ 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.

INVESTMENTS: NOT FDIC INSURED • HAVE NO GUARANTEE • MAY LOSE VALUE. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The SoFi Wealth platform is operated and maintained by SoFi Wealth LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of SoFi Wealth LLC by SoFi Securities LLC, an affiliated broker-dealer registered with the Securities and Exchange Commission and a member of FINRA /SIPC . Clearing and custody of all securities are provided by APEX Clearing Corporation. For more information, please see SoFi Wealth LLC’s Form ADV Part 2 by clicking here for SoFi's Wealth Form ADV Part 2 A&B or by visiting www.adviserinfo.sec.gov .
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