1 Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments using SoFi’s automatic monthly deduction from a savings or checking account. The discount will discontinue and be lost when you do not have autopay enabled. You’re not required to set up autopay to obtain this loan.
2 Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) be a SoFi Plus subscriber, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
§ Awards or rankings are not indicative of future success or results. Neither SoFi Bank, N.A. nor its employees paid a fee in exchange for ratings. Awards and ratings are independently determined and awarded by their respective publications.
‡ Same-Day Personal Loan Funding: Same Day Funding means that most borrowers receive funds the same day when loan is approved and the loan agreement is signed by 5:30 PM ET on a business day. SoFi does not guarantee this, and delays may occur outside of our control, such as if inaccurate information is submitted, the receiving bank declines the transfer. Your bank may have rules on when the funds become available. Does not include personal loans originated with a SoFi partner bank.
^ Direct Pay: Terms and conditions apply. Offer good for personal loan customers with eligible credit cards and personal loans in their name only and subject to lender approval. This offer may not be available for all credit cards and personal loans. Certain loan types are excluded from this offer, including Cross River Bank loans and SoFi Personal Loan Refinance loans. To receive the offer, you must: (1) select the Direct Pay option during the selection of your loan terms; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) meet SoFi’s underwriting criteria; (4) apply 50% or more of your loan proceeds directly to eligible lenders/creditors. Once conditions are met and the loan has been disbursed, the APR shown in the Truth In Lending disclosure will include the 0.25% Direct Pay rate discount. SoFi reserves the right to change or terminate the Direct Pay Rate Discount Program to unenrolled participants at any time with or without notice. It takes about 3 business days for your creditor/lender to receive payment after your loan is signed. You will be responsible for making all required payments to avoid credit card and other loan fees.
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How long do I need to wait to reapply after my Personal Loan application has been declined? You will need to wait at least 30 days before re-applying for a Personal Loan with the same borrower(s). You are welcome to retry at any time with a co-borrower, if the previous application was as a single borrower. If you initially applied with a co-borrower, you can retry as a single borrower or with a different co-borrower.
Returning Borrower Pricing: Former SoFi Personal Loan customers who have paid their previous personal loan in full may be eligible for Returning Borrower special pricing on another personal loan if they meet the eligibility criteria and any other applicable terms and conditions. The pricing special does not apply to new Personal Loan customers or existing Personal Loan customers who are currently in repayment. To receive this offer you must (1) apply for a new personal loan and submit your application; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) and meet SoFi’s underwriting criteria. SoFi reserves the right to discontinue or modify the Returning Borrower Rate Discount at any time and without notice. Such changes or modifications will only apply to applications begun after the effective date of the change.
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