How to Apply for SoFi Personal Loan?
Pre-Qualify Online
Visit SoFi’s official website: sofi.com
Fill out basic info (name, income, employment, credit info)
Get a soft credit check pre-qualification without affecting your credit score
Complete the Application
If pre-qualified, submit your full application
Provide additional details and documents if required
SoFi performs a hard credit check during this step
Loan Approval & Funding
After approval, funds are usually deposited within 1–3 business days into your bank account
📄 Required Documents
Proof of Identity (Driver’s license, passport, or government ID)
Proof of Income (Recent pay stubs, W-2 forms, or tax returns)
Social Security Number (for credit check)
Bank Account Information (for direct deposit)
Proof of Residence (utility bill, lease agreement)
✅ Eligibility Criteria
U.S. citizen, permanent resident, or visa holder
Minimum credit score around 680+ (varies)
Minimum annual income (usually $30,000+)
Age 18 or older
Valid Social Security Number
Active bank account
💰 Loan Details & Benefits
| Feature | Details |
|---|---|
| Loan Amount | $5,000 to $100,000 |
| APR Range | 5.99% to 21.00% (varies by creditworthiness) |
| Loan Terms | 2 to 7 years |
| Origination Fees | No fees |
| Prepayment Penalty | None (you can pay off early without penalty) |
🎁 Benefits of SoFi Personal Loan
No origination fees or prepayment penalties
Fixed interest rates & fixed monthly payments
Unemployment protection (payment pause option)
Access to SoFi member benefits like career coaching & financial planning
Fast funding within a few days
Can be used for many purposes: debt consolidation, home improvement, medical bills, etc.
SoFi Personal Loan – Frequently Asked Questions (FAQs)
What is SoFi Personal Loan?
SoFi Personal Loan is an unsecured loan offering fixed interest rates for debt consolidation, home improvements, and other personal expenses.
2. Who is eligible for a SoFi Personal Loan?
Applicants must be U.S. citizens, permanent residents, or visa holders, 18 years or older, with a minimum credit score around 680 and steady income.
3. How much can I borrow with SoFi?
Loan amounts range from $5,000 to $100,000, depending on creditworthiness.
4. What is the interest rate on SoFi Personal Loans?
APR ranges from 5.99% to 21.00%, based on your credit profile.
5. Are there any fees?
No origination fees and no prepayment penalties.
6.How fast can I get the funds?
Typically, funds are deposited within 1 to 3 business days after loan approval.
7. Can I repay my loan early?
Yes, you can pay off your loan early without any penalties.
8. What documents do I need to apply?
You will need proof of identity, proof of income, Social Security Number, bank account details, and proof of residence
9.Can I use the loan for any purpose?
Yes, SoFi loans are flexible and can be used for debt consolidation, home renovations, medical bills, travel, and more.
10.Does checking my rate affect my credit score?
No, pre-qualification uses a soft credit check which doesn’t impact your credit score. A hard credit check is done only after you submit the full application.