SoFi Personal Loan Review

SoFi offers competitively priced loans for good to excellent credit borrowers, plus a range of member benefits and perks.
SoFi Loan Review
Mateo Beltroy
Author: Mateo Beltroy

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About SoFi

SoFi Technologies, Inc. is an American financial technology company that functions as an online bank and personal finance company. SoFi offers digital banking solutions and financial products such as student loan refinancing, mortgages, personal loans, credit cards, and investing through their mobile and desktop platforms.



SoFi Loan Details
Minimum credit score/credit range
8.99% - 25.81%
Loan amounts
$5,000 - $100,000
24 - 84 months
Approval turnaround
Next business day
All states (Except Mississippi)
No application or origination fees
Other fees

Who Is SoFi Best For

SoFi is best for borrowers with good to excellent credit looking to get a larger loan. SoFi is one of the few lenders that offers personal loans up to $100,000, making them a great option for debt consolidation, weddings, renovation projects, etc.

SoFi also allows co-borrowers, meaning you can apply with a friend or family to increase your chances of qualifying for a larger loan.

What SoFi Doesn't Allow Loans to Be Used For

SoFi does not allow personal loans to be used for business purposes, investing, real estate, and other alternative investments. You are also not allowed to user personal loans for educational expenses unless it is used for housing, food, and other applicable expenses.

How to Contact SoFi

SoFi customer support is available Monday through Friday 5 AM – 7 PM PT and Friday through Sunday from 5 AM to 5 PM at 855-456-7634. SoFi also offers online chat support through its website and mobile application.

Offering such flexible hours is great for borrowers as they will likely have support available when they need it.

Our Verdict

We gave SoFi a strong rating based on the large loan amounts they offer, minimal fees, and overall ease of use. For borrowers with good credit, SoFi is one of the best personal loan options available as they are a large established business with mobile and desktop platforms that make it easy to keep track of payments and balances.

SoFi’s personal loans have no late fees and no origination, application, and prepayment pentalty fees which means that the total cost of the loan is much cheaper than other lenders. Not to mention that you can reduce your APR by 0.0375% by setting up autopay and qualifying for their member rate discount.

Overall, we think SoFi is one of the best options available for personal loans for borrowers with good credit.

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