SoFi is committed to fighting racism, standing in solidarity with all of our communities, providing space for open dialogue,
as well as taking action as informed allies. We are donating $1 million to organizations that empower people of color and their allies.
Have credit card balances? You’re not alone—there are over a million people in the U.S. with great credit scores and recurring credit card debt. But what if you could trade in your sky-high credit card rates for one monthly payment, in one place, at one low rate? Apply for a SoFi fixed rate personal loan and start saving as you take a responsible path to paying down your debt.
Borrowers reduced their interest rate by 44% on average6b.
On average, members increased their FICO(R) scores by 22 points after consolidating $10,000+ in credit card debt6a.
No origination fees or pre-payment penalties. What you see is what you get.
If you lose your job, we’ll temporarily pause your payments and help you find a new job4.
Get a 0.125% rate discount✝✝ on an additional SoFi loan—just for being a member.
Simple online application and access to live customer support 7 days a week.
Here’s how SoFi Personal Loans compare
|SoFi||Credit Cards||401(k) Loan||Home Equity Loan|
5.99% – 18.28%
|12.00 – 22.86%6||Varies||Varies|
|Fees||No Fees||3% Balance Transfer||Origination||Application|
|Term||2, 3, 5, 7 years||Rolling||5 years, or 60 days if you lose your job||5 – 30 years|
|Amount||$5,000 – $100,000||Varies||Up to 50% of vested 401(k) balance or $50,000||Up to 80% of home equity|
We’re efficient because we’re digital and innovative. Doing business online allows us to keep expenses down. We then pass these savings onto our members. And, we look beyond just credit scores and debt-to-income ratios to consider factors like estimated cashflow, career, and education. So while other lenders charge higher rates to account for the possibility that borrowers won’t pay back their loans, our unique underwriting process helps ensure our members have a high likelihood of making their payments.