SoFi 2025 Personal Loan Review

4.5

NerdWallet Rating

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🏆 2025 Best Personal Loan for Excellent Credit

4.5

NerdWallet Rating

Time to fund

1 day

Est. APR

8.99 - 35.49%

Min. credit score

None

Loan amount

$5K - $100K

Loan term

2 to 7 years

Origination fees

0% to 7% (optional)

Disclosures from SoFi

Overview

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

What is the
Best-of award?

🏆 2025 Best Personal Loan for Excellent Credit

🏆 2024 Best Personal Loan Overall

🏆 2023 Best Personal Loan for Good and Excellent Credit

🏆 2023 Best Online Personal Loan

🏆 2022 Best Personal Loan for Good and Excellent Credit

🏆 2022 Best Online Personal Loan

What the nerds think

"SoFi is a great pick for borrowers with good credit, particularly if they need a large loan with same-day funding or joint loan flexibility. But the best perk might be the multiple rate discounts. With SoFi, you can potentially qualify for not one, not two, but three separate discounts, which lowers your monthly payment in the short-term and saves money on interest in the long-term."

Jackie VelingLead Writer & Content Strategist

What SoFi is best for

Excellent Credit Loans

Best for high loan amounts

Joint and Co-sign Loans

Best for joint loans

$50,000 Loans

Best for fast funding

Detailed breakdown

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

Affordability

(25%)

4/5

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer Experience

(20%)

4.5/5

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Loan Flexibility

(20%)

4/5

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Underwriting and Eligibility

(20%)

4.5/5

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Application Process

(15%)

4.5/5

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

Overall Rating

4.5/5

Read more about our ratings methodologies for personal loans.

Where SoFi personal loans stand out

Multiple rate discounts. Borrowers may qualify for multiple discounts that can lower their interest rate. SoFi offers a rate discount of 0.25 percentage points 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 borrowers who set up direct deposits of at least $1,000 a month to a SoFi checking account and use that account to autopay their personal loan.
Large loan amounts. SoFi offers personal loans up to $100,000, which is a higher maximum loan amount than most other lenders offer. This can be useful for borrowers looking to finance a big expense, such as a home improvement project.
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 falls short

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

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

Profile of an average borrower

Credit Score

745

Average APR

13.66%

Annual Income

$140,000

Loan Amount

$30,000

Loan Purpose

Debt Consolidation

Loan Term

5 years

Interested in this lender? See what rate you can get by prequalifying

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How does SoFi compare to the best lenders?

Personal loan lenders offer different rates, loan amounts and special features, so it pays to weigh other options. The best personal loan is usually the one with the lowest APR.

4.5	5.0	5.0	4.5
EST. APR 8.99% - 35.49%	EST. APR 7.9% - 35.99%	EST. APR 7.99% - 35.99%	EST. APR 6.49% - 24.89%
LOAN AMOUNT $5K - $100K	LOAN AMOUNT $1K - $60K	LOAN AMOUNT $1K - $50K	LOAN AMOUNT $5K - $100K
MIN. CREDIT SCORE None Check Rates	MIN. CREDIT SCORE 600 Check Rates	MIN. CREDIT SCORE 600 Check Rates	MIN. CREDIT SCORE 660 Check Rates