**Autopay Discount. 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. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The discount will not reduce the monthly payment; instead, less interest will accrue each month and more of the monthly payment will be applied to the principal loan balance to help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi.
SoFi Loans are originated by SoFi Bank, N.A. Member FDIC. For loan eligibility information, see SoFi.com/eligibility, opens in new window. For additional product-specific legal and licensing information, see SoFi.com/legal, opens in new window.