Personal loans

SoFi review

Bank-backed personal loans with no origination fee.

Amount

$5,000–$100,000

Term

24–84 months

Cost

APR 8.99%–29.99% with autopay discount

Funding

Same-day to next business day in many cases

Source: SoFi public terms, as of April 2026. Subject to change.

What it is

SoFi is a chartered bank that offers personal loans up to $100,000 with no origination fee, no late fees, and no prepayment penalty. Aimed at borrowers with fair-to-strong credit.

SoFi also includes some borrower-side features uncommon among personal-loan lenders: an unemployment-protection deferral program on certain plans, and member benefits like financial planning sessions.

Pros

No origination fee, no late fees
Loan amounts up to $100,000
Bank-backed (FDIC-insured, full regulatory framework)
Autopay APR discount available

Cons

Minimum $5,000 loan — too high for small borrowing needs
Requires fair-to-strong credit (~680+ FICO typically)
No option for very short (under 2-year) terms

Best for

Prime and near-prime borrowers needing $5,000+ with predictable monthly payments and no fees.

Bottom line

Top-tier personal-loan option when you qualify. Skip if you need less than $5K or have lower credit.

External link

SoFi official site

Continue to SoFi

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