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Personal installment loans
SoFi — Personal loan
SoFi offers unsecured personal loans to stronger credit profiles—large maximums and competitive APRs for qualified applicants.
Typical amount
$5,000–$100,000
APR range
7.74%–35.49%
Term
24–84 months
Fees
No origination fee advertised*
* Confirm your offer; autopay discounts may apply.
Overview
SoFi targets consolidation and planned expenses with fixed installments—not paycheck bridges. Many disclosures show no origination fee, but APR still spans a wide band by credit quality.
How it works
Apply online; a hard inquiry typically accompanies a firm offer. Choose term and APR, sign, and receive ACH funding (same-day sometimes marketed for qualified files). Minimum amounts are often around $5,000.
APR and total cost
Compare APR and total of payments, not only the monthly line. Autopay may lower APR—set it up before you count the savings. See How to read a Truth-in-Lending disclosure.
Eligibility
Solid income and credit expected; thin or stressed files may be declined or priced high. State limits apply.
Who it fits
Good fit: Near-prime borrowers needing $5k+ at a sustainable APR. Skip if: you only need a small short bridge or cannot meet minimum loan size.
Pros and cons
Pros
- High maximums for qualified borrowers
- No origination fee on many disclosures
- Multiple term lengths
Cons
- High minimum loan amounts
- Hard pull required; many applicants declined
Compare in this lane
Common questions
Origination fee?
SoFi commonly advertises none—still read your offer PDF.
Early payoff?
Prepayment without penalty is typical in public materials—verify in your note.
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