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SoFi® Loans Review [2025]: Personal Loans + More With Low Rates

With a background in lending, it's no surprise that SoFi offers some of the best personal loans, home loans, student loans, and more. The lender has very low rates for qualified borrowers, particularly for its personal loans. In this SoFi loans review, we'll tell you about the lender's pros and cons and what it offers, focusing on personal loans.

By Christy Rakoczy

Edited by Jess Ullrich

Updated Sept. 2, 2025

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SoFi Personal Loans

OUR VIEW

If you’re looking for a low-rate loan, SoFi® is a lender well worth considering. The reputable online lender not only offers multiple types of loan products but also provides member benefits and competitive interest rates for qualified borrowers.

While SoFi doesn’t offer the lowest possible APRs for personal loans, it does offer a solid combination of high borrowing maximums, a wide range of personal loan terms, customer service, and other less common borrowing benefits (like discounted rates for automatic payments and no late fees).

This SoFi review will help you get a better sense of its products and whether its personal loans or other products are right for you. Plus, learn how to apply.

Pros

Personal loan repayment terms up to seven years

Can borrow up to $100,000

No late fees

Autopay interest discount

Cons

Not the lowest APRs possible for borrowers with excellent credit

High borrowing minimum

SoFi overview + reputation

SoFi is a trusted, well-established lender with a long history in the financial services industry. It was founded in 2011 with a focus on student loan refinancing and has grown substantially since its founding. SoFi now has more than half a million members that are part of its community, yet it still holds strong to its 11 company values. These values include putting its members' interests first and helping others to grow.

It reflects its values by providing services to borrowers that help them make better financial decisions and improve their financial lives.

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SoFi Personal Loans Benefits

No hidden fees, no catch
Products and services designed to put members first
Live customer support 7 days a week

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Types of SoFi loans

SoFi offers several different loan products, including:

Personal loans: These loans can be used for many purposes, including debt consolidation and home improvement.
Home loans: Both mortgage and mortgage refinance loans are available through SoFi. Borrowers can qualify for conforming loans or jumbo loans when purchasing costlier properties. HELOC, FHA, and VA loans are also available.
Student loans: Private student loans from SoFi can help those who need additional financing to complete their degrees beyond the funds available from the Department of Education.
Student loan refinancing: Borrowers with existing student loans can refinance with SoFi to change their interest rate and payment terms.

Personal loans from SoFi

SoFi issues personal loans between $5,000 and $100,000 with fixed APR rates ranging from 8.99%-29.49% (as of 05/04/25) with all discounts.¹ <p>Fixed rates from 8.99%-29.49% (as of 05/04/25) APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. 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. 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 0%-7%, which will be deducted from any loan proceeds you receive. Autopay: 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. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.</p> There are no late fees, prepayment fees, or origination fees, so borrowers looking for an affordable loan should give SoFi a close look. They also offer a 0.25% discount for making automatic payments.

If you have fair to excellent credit and can qualify for a SoFi personal loan at a good rate, you should definitely give this lender a close look. We recommend checking to see what rate you might be eligible for by prequalifying, then comparing this rate with similar lenders, such as Prosper, LendingClub, and LightStream.

How to qualify for a SoFi personal loan

The loan application process can be completed online, which makes borrowing from SoFi convenient too. But if you need some help, live customer support is also available seven days per week. Would-be borrowers can also find their rate in minutes by providing some quick financial details, so it's easy to see if SoFi offers competitive rates and terms. If you're approved, the loan funds can be sent directly to your bank account.

SoFi's personal loan requirements include being a U.S. citizen, permanent resident, or qualified visa holder. And you must be at least 18 and live in one of the states where SoFi lends. SoFi also allows joint applicants on personal loans.

Home loans from SoFi

SoFi offers both mortgage loans for home buyers as well as refinance loans for homeowners looking to change the terms of their current loan. It's even possible to take a cash out refinance loan and use the proceeds to repay your student loans.

Borrowers may qualify for certain loans with down payments as low as 5%. Mortgage loan officers are available to help with the process, so even first-time buyers will find obtaining a loan from SoFi simple.

SoFi loans are a good choice for borrowers looking for an affordable loan. SoFi offers competitive rates with no prepayment penalties or hidden fees. Those with an existing SoFi loan may also want to consider getting their mortgage through this lender because they can qualify for a discount of up to $500 on loan fees just for being a SoFi member.

How to qualify for a SoFi home loan

SoFi's home loans are primarily available to borrowers with good credit. You can see if you qualify for a loan with a competitive rate and terms by providing some basic financial information, and the process is quick and easy.

You will, however, have to live in a state where SoFi is licensed to make home loans.

Private student loans from SoFi

SoFi offers private student loans for undergraduates as well as graduate student loans and parent loans. Students and parents can borrow between $1,000 and $100,000, which makes SoFi an excellent choice for anyone who has exhausted their eligibility for federal loans.

Interest rates and repayment terms vary depending on whether you're interested in undergraduate, graduate, or parent loans. But for every borrower, SoFi offers low rates and the opportunity to check your rate online in a matter of minutes with no commitment.

SoFi's private loans also come with no fees attached. This means no insufficient funds fees, no late payment fees, no origination fees, no application fees, and no prepayment penalties.

Student loan refinancing with SoFi

SoFi also offers student loan refinancing, including for parents seeking to refinance their loans as well as for medical school grads with lots of debt to refinance. Those with existing student loans who are looking for budget-friendly rates should definitely consider SoFi. This experienced lender has helped more than 375,000 students refinance more than $30 billion in educational debt.

SoFi allows borrowers to refinance both federal and private loans, although you will lose some important borrower benefits if you refinance your federal loans with any private lender. You can find your rate online by answering just a few simple questions, and you can complete the entire application process online if you decide to move forward.

Loans are offered at affordable rates, and there are no application or origination fees or prepayment penalties. SoFi also offers an autopay discount of 0.25%. For these reasons, many people can save if they refinance existing loans with SoFi.

How to qualify for SoFi student loan refinancing

To qualify, you'll need to have graduated from a Title IV accredited program, be employed or have a job offer with a start date within 90 days, and have a solid financial history. You'll also need a strong monthly cash flow in addition to a good credit score. If you can't qualify on your own, a cosigner could potentially help you to get the funding you need.

Are SoFi personal loans best for you?

SoFi unsecured personal loans could be ideal for you if you need a large loan and/or want to take advantage of all SoFi's member benefits. Its personal loans offer better APRs than many of its competitors, especially for people with good credit or higher, and you can borrow larger amounts and take longer to repay your loan with SoFi. Overall, this lender is best if you're looking for flexibility in repayment, a range of borrowing options, and low rates.

Whether you are interested in a personal loan to consolidate high-interest credit card debt or to complete a home improvement project, Sofi offers flexible loan amounts and loan terms.

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SoFi loan reviews from real customers

SoFi's customer reviews are mixed, with many reporting problems. Issues range from failure to pay off refinanced student loans in a timely manner as well as numerous would-be borrowers complaining they were denied loans.

That said, others are happy with the lender, indicating they were offered loans at favorable rates. Many indicate that they appreciate the ability to take advantage of multiple borrowing options and other financial services from one lender.

While it is not accredited by the Better Business Bureau, SoFi does have an A+ BBB rating. However, customers rated it just one out of five potential stars on the BBB site, and it has settled 358 complaints to the Bureau in the last three years.

Although the reviews aren't perfect, SoFi's products and member perks make it worth considering. If you can get a favorable rate and your loan is approved by SoFi, there are no serious red flags to suggest you shouldn't consider borrowing.

FAQs

What credit score do you need for SoFi?

SoFi doesn't publish minimum credit score requirements, although it does consider your credit history and FICO score when determining eligibility and rate for any of its financial products. Customers with scores of 680 or higher stand a good chance of being approved for a loan from SoFi, although those with higher scores will likely be offered lower interest rates.

How long does it take SoFi to approve?

You can submit some basic financial information and get estimated rates within minutes from SoFi. However, the actual loan underwriting and approval process takes more time. The specific timeline varies depending what loan you're applying for — mortgage loans usually take the longest — but you can often get approved within a few days of submitting your application.

Does SoFi hurt your credit score?

Checking your rate with SoFi will not affect your credit score. However, if you decide to obtain a loan from SoFi, you will have to undergo a hard credit check. This results in an inquiry on your credit report, and too many inquiries can hurt your score.

Should I refinance with SoFi?

SoFi has worked with thousands of customers, so if you want to refinance your loans and are offered a competitive rate, there's no reason not to refinance with them. Before you do, though, shop around and compare rates from several lenders to see which offers the most affordable loan terms.

If you are considering refinancing federal student loans, it's also important to research the borrower protections you'd be giving up by refinancing with any private lender.

Bottom line

SoFi personal loans are a good option for many borrowers, especially those who can qualify for the lender's very competitive lowest rates. SoFi member benefits, including multi-loan discounts, help the lender stand apart from competitors. And the SoFi website makes it simple to learn how to get a loan. But customer reviews are mixed, so you should always do your research and compare loan offers before you make a commitment to borrow from SoFi.