Our take: SoFi personal loans are a top choice for borrowers with good credit who want a fast, all‑digital process and no‑fee options. You can borrow up to $100,000, check your rate without hurting your credit, and even add a cosigner to qualify for better terms.
Keep in mind the $5,000 minimum loan amount, the online‑only service, and the fact that SoFi’s best rates are reserved for well‑qualified applicants.
Personal Loans
- No-fee options
- Borrow up to $100,000
- Cosigner options
- Member perks
- Fast funding
- Interest rate discounts
- Available only for good credit
- $5,000 minimum
- No physical branches
| Fixed rates (APR) | 8.99% – 29.99% with all discounts* |
| Loan amounts | $5,000 – $100,000 |
| Term lengths | 2 – 7 years |
| Min. credit score | 660 |
I recently got approved for a personal loan from SoFi, so I’m writing this review fresh from experience. As a veteran financial writer, I’ve researched many financial companies, but I have only used a few for my personal finances. SoFi is one of them. SoFi earns a great editorial rating from LendEDU and is our best personal loan for those with good credit, so it was at the top of my list.
In this SoFi Personal Loans Review, I’ll share the history of SoFi, the types of personal loans it offers, the benefits, drawbacks, and several genuine customer reviews (including my own). I’ll also share several alternatives for you to consider, so that you can decide which personal loan company is best for you.
About SoFi
SoFi stands for Social Finance, and the company had small beginnings. In 2011, a few Stanford University classmates created SoFi to help students refinance federal and private student loans. The company grew rapidly and soon offered multiple types of lending products, including mortgages and personal loans.
By 2020, SoFi had 1 million members, which grew to 10 million by the end of 2024. Now, it’s a publicly traded company and, as of June 2022, a national bank that offers checking and savings accounts.
How do SoFi personal loans work?
The process to get a personal loan with SoFi is quick and painless. Here’s how it works:
Personal loans made easy online
You complete the entire SoFi personal loans process online. After you set up an account with SoFi, select the type of loan you want. SoFi asks you to choose from a list of personal loan uses, which include Debt Consolidation, Home Improvement, Family Planning, Travel, and Weddings.
You can prequalify for a loan to check your rate, which does not affect your credit. SoFi will give you several loan options if you qualify, with varying terms and monthly payments. Once you choose one, SoFi conducts a hard pull and checks your credit as part of the approval process.
Low fixed rates
The rates and terms that SoFi offers vary from 8.99% – 29.99% (with all discounts1). SoFi explains in an educational article that the purpose of your loan can affect your interest rate you get. However, SoFi does not expressly state whether that applies to specific personal loans it offers.
In SoFi’s payment example chart, the shorter the term, the lower your interest rate can be:
No fees required
You won’t need to pay an origination fee with a SoFi personal loan. However, it offers a lower interest rate if you elect to pay an origination fee.
I chose the no-fee option. (That’s one of the reasons I selected SoFi as my lender.) Review your options carefully before choosing a loan so you don’t accidentally select an origination fee if you don’t want one.
Fast funding
SoFi has super fast funding. Once you provide your loan documentation and get approved, you can have your funds as fast as the next business day.
Pros and cons
Here are several benefits and drawbacks to getting a personal loan with SoFi.
Pros
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No-fee options
SoFi doesn’t charge fees, unless you specifically choose to pay an origination fee to lower your interest rate.
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Borrow up to $100,000
SoFi has a higher personal loan maximum than many competitors.
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Cosigner options
SoFi allows cosigners, which can help you access more competitive interest rates.
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Member perks
SoFi offers several benefits, including financial planning services, events, credit monitoring, and a net worth tracker.
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Fast funding
You can get your funds as fast as the next business day.
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Interest rate discounts
SoFi offers discounts for enrolling in autopay and for allowing the bank to pay your creditors directly if you’re consolidating debt.
Cons
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Available only for good credit
Typically, you must have a credit score of 660 or above to qualify for a SoFi personal loan
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$5,000 minimum
The minimum loan amount required is higher than other lenders.
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No physical branches
SoFi is an online-only lender. If in-person communication is important to you, you won’t get that with SoFi.
Customer reviews
| Source | Customer rating | Number of reviews |
| Trustpilot | 4.2/5 | 10K+ |
| Better Business Bureau (BBB) | 1.28/5 | 355 |
| 2.4/5 | 188 |
SoFi reviewers on Trustpilot highlight how quick and easy the application process was. One reviewer said SoFi is “unbelievably fast.”
SoFi is not BBB-accredited, but it earns an A+ rating for the platform. However, customer reviews on BBB and Google skew lower (but are far fewer in number).
Many negative reviews mention poor customer service and issues with SoFi’s checking accounts. I don’t have a SoFi checking account, so I can only comment on the personal loan application process, which was speedy. It was faster to verify my identity and get approved for a personal loan than it was to change my last name in SoFi’s system.
As of September 2025, SoFi customers have filed 2,361 total BBB complaints in the last three years and closed 744 complaints in the last 12 months.
Contact SoFi
Visit SoFi’s Contact Us page to access the Live Chat feature. At first, you’ll talk with a virtual assistant that connects you to an agent during business hours.
Business hours for personal loan support are Monday through Thursday, 5 a.m. to 7 pm. Pacific time, and Friday to Sunday, 5 a.m. to 5 p.m. Pacific.
You can also call to speak with an agent about personal loans at 855–456-7634.
Alternatives
Here’s how SoFi stacks up against three of our other picks for the best personal loans:
- 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 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. 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 for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. 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 above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you 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.
- 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) meet SoFi Plus eligibility criteria, (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. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. 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.
- 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 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. 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 for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. 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 above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you 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.
- 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) meet SoFi Plus eligibility criteria, (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. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. 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.
- 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 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. 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 for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. 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 above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you 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.
- 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) meet SoFi Plus eligibility criteria, (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. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. 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.
SoFi vs. Upstart
Upstart uses AI to determine borrower eligibility, resulting in more approvals for buyers with a limited credit history. It might be a better option if you don’t have good credit. Upstart does, however, charge origination fees.
SoFi vs. Upgrade
Upgrade is a lending option for borrowers who have a minimum credit score of 580 and might be unable to be approved by other lenders for a personal loan. The drawback is that it has up to a 9.99% origination fee.
SoFi vs. LightStream
SoFi and LightStream both cater to borrowers with good credit. LightStream offers longer terms for some types of personal loans, such as home improvement loans, and has a lower starting rate (6.99% APR).
See our full list of reviewed personal loan companies.
How to apply
Here’s how to take out a personal loan with SoFi.
- Start your online application. Visit SoFi’s website and complete a short form using your computer, phone, or tablet.
- Prequalify in less than two minutes. SoFi will perform a soft credit check to show your potential rates and terms without affecting your credit score.
- Review your loan offer. If you’re prequalified, you’ll see your estimated rate, term, and loan amount. You can proceed if you like what you see.
- Submit your full application. Choose your offer and provide any required documentation to move forward with approval.
- Get help if needed. Loan consultants are available to guide you through the process and answer any questions.
- Sign electronically and receive your funds. Once approved, sign your loan documents online. Funds are typically deposited directly into your bank account.
How we rated SoFi
We designed LendEDU’s editorial rating system to help readers find companies that offer the best personal loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.
We compared SoFi to several personal loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.
| Company | Best for… | Rating (0-5) |
|---|---|---|
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Terms & Disclosures
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Best for Good Credit |
Terms & Disclosures
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Article sources
At LendEDU, our writers and editors rely on primary sources, such as government data and websites, industry reports and whitepapers, and interviews with experts and company representatives. We also reference reputable company websites and research from established publishers. This approach allows us to produce content that is accurate, unbiased, and supported by reliable evidence. Read more about our editorial standards.
- SoFi, Our Story
- SoFi, Does Loan Purpose Matter?
- SoFi, Compare Rates and Terms
- Better Business Bureau, SoFi
- Trustpilot, SoFi
About our contributors
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Written by Catherine CollinsCatherine Collins is a personal finance writer and author with more than 10 years of experience writing for top personal finance publications. As a mother to boy/girl twins, she is passionate about helping women and children learn about money and entrepreneurship. Cat is also the co-host of the Five Year You podcast.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.