SoFi 2026 Personal Loan Review
SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.
4.5
NerdWallet rating
Disclosures from SoFi Personal Loan
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
🏆 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."
What SoFi is best for
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 Rating4.5/5
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.
» MORE: How to get a personal loan
Interested in this lender? See what rate you can get by pre-qualifying.
✅ No impact to your credit score
Profile of an average SoFi borrower
Credit Score
745
Average APR
13.66%
Annual Income
$140,000
Loan Amount
$30,000
Loan Purpose
Debt Consolidation
Loan Term
5 years
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.
 |  |  |  |
|---|---|---|---|
EST. APR 7.74-35.49% | EST. APR 6.49-24.89% | EST. APR 6.53-35.99% | EST. APR 7.74-35.99% |
LOAN AMOUNT $5K-$100K | LOAN AMOUNT $5K-$100K | LOAN AMOUNT $1K-$60K | LOAN AMOUNT $1K-$50K |
MIN. CREDIT SCORE None | MIN. CREDIT SCORE 660 | MIN. CREDIT SCORE 600 | MIN. CREDIT SCORE 600 |
User reviews
4.5
out of 5
(129 reviews)
89%
Would recommend this product
Rating Breakdown
(92)
(21)
(3)
(1)
(6)
Sort by:
Pedro M.
Verified NerdWallet Customer
Would you recommend this product? Yes
Pretty satisfied. Pretty fast.
February 6, 2026
Colin K.
Verified NerdWallet Customer
Would you recommend this product? Yes
It's been good with SoFi.
January 30, 2026
Richard M.
Verified NerdWallet Customer
Would you recommend this product? No
We haven't had any issues yet, we just now got it, so it's not all worth. Been with them for years.
January 30, 2026
Akeem S.
Verified NerdWallet Customer
Would you recommend this product? Yes
It was very quick funding, best rates as well.
January 30, 2026
Leslie F.
Verified NerdWallet Customer
Would you recommend this product? Yes
It was a pretty quick and easy. This is my second loan through them. The first loan that I had a pretty high interest rate. Now it like lowered pretty much in half and it was a quick and simple process.
January 28, 2026
Caryn H.
Verified NerdWallet Customer
Would you recommend this product? Yes
It went really quickly. I figured it out within a day and they haven't had any issues and it helped me consolidate everything quickly.
January 28, 2026
Abby L.
Verified NerdWallet Customer
Would you recommend this product? Yes
Satisfied.
January 28, 2026
Jay F.
Verified NerdWallet Customer
Would you recommend this product? Yes
Perfect. Seamless, no headaches. Great.
January 28, 2026
Christopher J.
Verified NerdWallet Customer
Would you recommend this product? Yes
Literally, like, applied online and had a decision in, I think it was, a few minutes. It was quick. And then my wife did it without me. My wife did it, and it was super quick.
January 28, 2026
Kimberly B.
Verified NerdWallet Customer
Would you recommend this product? Yes
I was satisfied. It was very straightforward. I just received a lot of spam afterwards, which I wasn't happy about.
January 27, 2026
User reviews are displayed for informational purposes only and are not monitored for accuracy. These reviews do not reflect the opinions of NerdWallet or the financial institutions referenced and are not endorsed by them. Neither NerdWallet nor the financial institutions are responsible for the content of any review, nor are the financial institutions obligated to respond to or address any user posts.
