Sep
08
2022
From Reality TV to Private Equity: What Kim Kardashian Has Planned Next
Kim Kardashian is now looking to keep up with the world of private equity and entrepreneurship.
Read more
SoFi Blog
Tips and news—
for your financial moves.
Sep
08
2022
Shoppers Splurge on High-Quality Pet Food
Despite the pressure from rising inflation, shoppers are still willing to spend money on human-grade pet food.
Read moreSep
07
2022
ML – Friends of SoFi HL Bonus [LCM]
NEW! You could get a portion of your real estate agent’s commission ($350 to $9,500^) when you use an agent in the HomeStory network. Learn more.
Click to learn more about HomeStory and their privacy policy.
How it works
Apply.
Complete our simple, online application for a mortgage loan or mortgage refinance , and you’re off to the races.
Close on your loan.
To redeem your $2,000* bonus, you’ll need to open a SoFi Checking and Savings account. If you already have one, you’re all set.
Get paid.
You’ll receive the $2,000 bonus approximately 30 days from the date your loan funds.
Claim your bonus
Viewing your rate won’t affect your credit score.†
Why SoFi
Mortgages?
Perks up
to $9,500.
Get complimentary access to a prescreened local real estate agent through the SoFi Real Estate Center powered by HomeStory and you could receive a $350-$9,500 rebate^.
Low down payments with flexible term options.
Choose from 10-1, 15-2, 20-3, and 30-year4 fixed terms with down payments as low as 3%.
3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to all other borrowers. For conforming home loans with a loan-to-value (LTV) ratio greater than 80%, SoFi requires PMI. Private Mortgage Insurance (PMI) is an insurance that protects lenders in the event of loan default.
Simple online application.
One-on-one help.
Buying a home shouldn’t be so painful–our online application is simple, and we have dedicated Mortgage Loan Officers to guide you through the process from start to finish.
Competitive rates.
Don’t overpay on your mortgage—get your dream home or investment property at a great rate.
1 10-YEAR Payment Example: The payment for a 10-year term, loan amount $362000.00, Rate 5.125%, LTV 80% is $3862.00 for full Principal and Interest Payments with $5172.98 due at closing. The Annual Percentage Rate is 5.640%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
2 15-YEAR Payment Example: The payment for a 15-year term, loan amount $362000.00, Rate 5.125%, LTV 80% is $2886.00 for full Principal and Interest Payments with $5162.12 due at closing. The Annual Percentage Rate is 5.485%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
3 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate 5.875%, LTV 80% is $2567.00 for full Principal and Interest Payments with $4861.66 due at closing. The Annual Percentage Rate is 6.157%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
4 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 6.000%, LTV 80% is $2170.00 for full Principal and Interest Payments with $5419.14 due at closing. The Annual Percentage Rate is 6.228%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
Sep
07
2022
Personal Loans – Prestart Series Refresh [LCM]
Put bad debt to bed with a low, fixed-rate personal loan.
Don’t stop now—your application is at the finish line. Secure a $5K-100K personal loan with fixed rates as low as 8.74% APR (with all discounts)5 7.
View your rate, get $20*
BTW it’s a soft inquiry, so it won’t affect your credit score.†
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Why apply for a Personal Loan with SoFi?
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 was named NerdWallet’s 2022 winner for Best Personal Loan for Good and Excellent Credit and Best Online Personal Loan overall. Come see why.
©2017-2022 and TM, NerdWallet, Inc. All rights reserved.
Why SoFi Personal Loans?
View your rate
Low Rates
If you’re paying interest on your credit cards a SoFi personal loan helps you consolidate debt. Borrow a loan amount up to $100,000 with fixed rates as low as 8.74% APR (with all discounts)57 and you could start paying a lower fixed monthly payment.
No Fees
Widely known fact: fees are annoying. That’s why our personal loans have absolutely no fees. You only pay principal and interest. That’s it. No origination fees, no pre-payment fees, no shady hidden fees.
Same Day Funding*
No matter what you need a personal loan for—like paying down high-interest debt or making a major purchase—you’ll get what you need fast. Get your loan funds as quickly as the same day your loan is approved.
Unemployment Protection
We’ve got your back—if you lose your job, we may be able to temporarily modify your payments and help you find a new job4. Because if we’ve learned anything in the past few years, it’s that uncertainty is the only certainty.
Best Personal Loan of 2022.
SoFi’s Personal Loan was named NerdWallet’s 2022 winner for Best Personal Loan for Good and Excellent Credit and Best Online Personal Loan overall. Come see why.
©2017-2022 and TM, NerdWallet, Inc. All rights reserved.
Low Rates
If you’re paying interest on your credit cards, a personal loan could be a great way to consolidate that high-interest debt. Borrow a loan amount up to $100,000 with fixed rates as low as 8.74% APR (with all discounts)57 and you could start paying a lower fixed monthly payment.
View your rate
(without impacting your credit score)†
No Fees
Widely known fact: fees are annoying. That’s why our personal loans have absolutely no fees. You only pay principal and interest. That’s it.
• No origination fees
• No pre-payment fees
• No shady hidden fees
View your rate
(without impacting your credit score)†
Same-Day Funding*
No matter what you need a personal loan for—like paying down high-interest debt or making a major purchase—you’ll get what you need fast. Get your loan funds as quickly as the same day your loan is approved.
View your rate
(without impacting your credit score)†
Unemployment Protection
We’ve got your back—if you lose your job, we may be able to temporarily modify your payments and help you find a new job4. Because if we’ve learned anything in the past few years, it’s that uncertainty is the only certainty.
View your rate
(without impacting your credit score)†
Easy Experience
View your rate in 60 seconds—without affecting your credit score. Apply online from start to finish and get access to live, U.S.-based customer support, seven days a week.
View your rate
(without impacting your credit score)†
Personal loans options 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.
How to apply for a personal loan online.
When it comes to loan options, applying online with SoFi is a breeze—and with low rates and $0 fees, even the math is easy.
Pre-qualify
Find the rate that you qualify for in 60 seconds with no commitment.
Complete your application
When you’re ready, complete your online loan application with help from SoFi loan consultants.
Receive your funds.
Sign your documents and funds will be wired to your account—as soon as the same day.*
View your rate
(without impacting your credit score)†
Save thousands with a low, fixed-rate personal loan.
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.
SoFi
Personal Loan
Balance
$36,269
Interest Rate
11.66% APR*
Monthly payment
$800
5-year interest paid
$11,764
High-interest rate credit card
Balance
$36,269
Interest Rate
18.98% APR
Monthly payment
$940
5-year interest paid
$20,157
Estimated savings with SoFi
$8,392
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 Calculator
Let the numbers speak for themselves with our Personal Loan Calculator.
Get a more precise estimate of how a SoFi Personal Loan could save you money with debt consolidation—our calculator is just a click away.
Calculate my savings
Real SoFi members on getting their money right.
“I’m on track to be debt free by the end of the year.”
I turned to SoFi. I took out a loan, I paid off all those cards and now I’ve got one low monthly payment that feels very manageable. I can see that balance going down every single month and I’m actually on track to being debt free by the end of the year. I’m really excited about that.
Calvin Landrum
Personal loan tools, tips, and resources.
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
Personal Loan FAQs
What can I use a personal loan for?
Many people apply for a low-interest personal loan to consolidate high-interest credit card debt. These loans can also be used to fund major life purchases or expenses, like home improvements, weddings, unexpected medical expenses, moving expenses, or funerals.
Learn more: What Are The Common Uses For Personal Loans?
What is a personal loan?
A personal loan is a loan offered by many banks, credit unions, or online lenders and typically range from $5K-$100K. While many loans specify how the money should be spent, personal loans allow for more flexibility and can be used to cover big expenses or consolidate high-interest debt with a more favorable rate.
Learn more: What is a Personal Loan?
Should I take out a personal loan to pay off my credit cards?
Personal loans can be used for a variety of purposes, but are commonly used to consolidate high-interest credit card debt. When using a personal loan to pay off credit card debt, the loan funds are used to pay off the cards’ outstanding balances. Ideally, the new loan will have a lower interest rate, making payments more manageable or saving the person money from accrued interest. Click here to learn more about the pros and cons of using low interest personal loans to consolidate debt.
Learn more: Using a Personal Loan to Pay Off Credit Card Debt
How can I calculate my expected monthly payments for a personal loan?
The monthly payment for a personal loan is determined by a variety of factors, including your interest rate, loan amount, term of the loan, and more. Our Personal Loan Calculator can help you figure out your monthly payments and decide whether applying for a personal loan is the right move for you.
Do personal loans require down payments?
No, an unsecured personal loan does not require a down payment, unlike a secured home loan.
What credit score is needed for a personal loan?
Applying for personal loans online or at your financial institution will require meeting your lender’s criteria. Since most personal loans are unsecured (meaning they don’t require collateral) this criteria assures the lender that you can repay the loan. Lenders will typically evaluate your credit score, income, and debt-to-income ratio, among other factors. There is no minimum credit score required to secure a personal loan, but lower scores could affect your eligibility, terms, or rate—depending on your lender.
Learn more: Typical Personal Loan Requirements Needed for Approval
Are SoFi Personal Loans fixed interest rate or variable interest rate loans?
SoFi Personal Loans are fixed rate loans. If you like the consistency of knowing exactly what your monthly payments will be over time, you might prefer a fixed rate loan. Also, if you plan to pay your loan back over a longer period of time, say 10 or 20 years, you might prefer to eliminate the risk of interest rate changes over time by selecting a fixed rate loan.
Is the SoFi Personal Loan secured or unsecured?
The SoFi Personal Loan is an unsecured loan. This means that you do not need to provide collateral for the loan.
What is the minimum and maximum I can borrow with a SoFi Personal Loan?
With the SoFi Personal Loan, the minimum amount you can borrow is $5,000 and the maximum is $100,000.
Will applying for a personal loan affect my credit?
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.
Adjust the minimum and maximum FAQ to say: How much money can I get a personal loan for?
Personal loans typically range between $1,000 to $40,000. With a SoFi Personal Loan you can borrow as little as $5,000 or as much as $100,000.
See all FAQs
Apply for your personal loan in minutes.
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, 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 12/16/25. 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.
Sep
07
2022
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