SoFi 2025 Personal Loan Review

SoFi personal loans come with large loan amounts and flexible repayment terms — plus unique features like free financial planning and an estate planning discount — making them a strong option for borrowers with good to excellent credit (any score in the mid-600s or higher).

» MORE: Compare the best personal loans

SoFi personal loans at a glance

• Disclosure from SoFi

  Fixed rates from 8.99% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, 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 04/24/25 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/eligibility-criteria/#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: 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 receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.

Where SoFi personal loans stand out

Multiple discounts: Borrowers may qualify for multiple discounts that can lower their interest rate. SoFi offers a 0.25 percentage point discount for setting up autopay. If the loan is for debt consolidation, borrowers can get another 0.25 percentage point discount if SoFi pays creditors directly.

And there’s a 0.25 percentage point discount for SoFi Plus members who set up direct deposits of at least $1,000 a month to a SoFi checking or savings account and use that account for autopay on their personal loan.

Large loan amounts: SoFi offers personal loans up to $100,000, which is higher than most lenders. This can be useful for borrowers looking to finance a big expense, such as a home remodel.

Joint loans: SoFi offers joint personal loans. Adding someone with better credit or higher income can improve your chances of qualifying or getting a low rate. SoFi co-borrowers must live together and are both responsible for loan payments. SoFi says joint applications may require up to two weeks to process.

Hardship assistance: If you lose your job while paying off the loan, you can apply for SoFi’s hardship assistance program. If you qualify, SoFi may put the loan into forbearance and modify the monthly payments.

Where SoFi personal loans fall short

High minimum loan amount: SoFi loans start at $5,000, which could be too high for borrowers looking to consolidate a small amount of debt or finance a minor expense. Other lenders may offer loans starting at $1,000 or $2,000.

No secured loan option: Borrowers can’t secure a SoFi loan with collateral such as a car or savings account. A secured loan often helps in getting a lower annual percentage rate or higher loan amount.

» MORE: Best secured personal loans

How to use SoFi personal loans

Do you qualify for a SoFi personal loan?

SoFi evaluates loan applicants’ overall credit history and ability to pay, which includes their monthly income, but it doesn’t have a specific credit score or income requirement. Borrowers with good to excellent credit are more likely to get approved, and you can pre-qualify with SoFi to check your rate with no risk to your credit score. SoFi personal loans are available in all 50 states and Washington, D.C.

SoFi’s borrowing requirements

• Must be at least 18 years old in most states. 

• Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.

• Must be employed, have sufficient income from other sources or have an offer of employment to start within the next 90 days.

SoFi’s average borrower snapshot

• Average loan amount: $25,000 to $35,000.

• Average APR: 13.66%.

• Most common loan term: 5 years.

• Most common loan purposes: Debt consolidation.

• Average borrower’s credit score: 745.

• Average annual income: $140,000.

» MORE: How to get a personal loan

How we rate SoFi

NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored SoFi this year: