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SoFi Personal Loan review: No fees and fast funding
If you’re looking for a personal loan, you’ll want to deal with the best company. And right now, there is no better than SoFi. They can help you get back on your feet financially with no hidden fees and low interest rates. Read our full review to learn more!
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SoFi Personal Loan: Borrow up to $100,000 with rates starting at 7.99%!
Are you looking for a way to consolidate debt, make home repairs, or cover an unexpected expense without taking out a hefty bank loan? Then this SoFi Personal Loan review might be just what you need.
How to apply for the SoFi Personal Loan
Wondering how to apply for a SoFi Personal Loan? Our step-by-step guide will take you through the application process, from start to finish.
- APR: SoFi offers personalized rates between 7.99% and 23.43%.
- Loan Purpose: For any purpose you may have, from home repairs to wedding expenses.
- Loan Amount: You can borrow amounts between $5,000 and $100,000.
- Credit Needed: There’s no minimum credit score specification.
- Terms: Repay your loan with terms between 2 and 7 years.
- Origination fee: There’s no origination fee with SoFi.
- Late Fee: You won’t be penalized if you pay your installment late.
- Early Payoff Penalty: There are no fees for settling your loan earlier than expected.
With competitively low interest rates, flexible repayment options, and no hidden fees or charges associated with their loans, SoFi provides an accessible source of financing for those needing funds quickly.
In this SoFi Personal Loan review we will inspect up-close all that this lender offers when it comes to its personal loan product. By doing so, we’ll help you understand whether it’s right for your unique financial needs.
So keep reading the content below for more!
SoFi Personal Loan: What can you expect?
With SoFi Personal Loan, you can expect a streamlined borrowing experience with competitive rates and flexible terms. SoFi has no hidden fees or penalties, so it’s easy to manage your payments.
They have loans up to $100,000 for whatever purpose you need, and you can check your approval odds and rates in under 60 seconds. The best part is that you can apply and get your funds within the same day.
SoFi truly stands out amongst the competition, and not just because of their excellent personal loan.
With SoFi, you’ll get exclusive perks like unemployment protection and free financial advising to help you manage your money more efficiently.
You can opt for a joint loan to get better offers if your credit score is less-than-perfect, too.
The company offers discounts for autopay, and you can manage your account using their easy and intuitive mobile app.
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Do the pros outweigh the cons?
If you’re considering taking out a personal loan with SoFi, you may be weighing the pros and cons.
It can be helpful to understand some of the key benefits and drawbacks before you decide if this loan is right for you. See them below in our SoFi Personal Loan review.
Pros
- Borrow up to $100,000 with rates as low as 7.99% and flexible repayment terms;
- There are no minimum credit score requirements to borrow with SoFi;
- There are no fees on the SoFi Personal Loan;
- They offer hardship programs and free financial advising for all members;
- You can apply for a joint loan and get discounts for autopay;
- Easy and quick pre-qualification process with a soft inquiry.
Cons
- The minimum amount you can borrow is $5,000, which is pretty high;
- You can’t choose your initial payment date and schedule around your payday.
What are the eligibility requirements?
To become eligible for the SoFi Personal Loan, you must be 18 or older with a valid ID. You have to be employed or start a job within the next 3 months. You must also have enough income to cover your monthly installments.
While SoFi doesn’t have credit score requirements, they will assess other information such as your credit history, cash flow, and financial history.
You can request this loan if you’re a U.S. citizen or permanent resident, non-permanent citizen or an asylum seeker.
Learn how to request the SoFi Personal Loan
The next logical step after reading our SoFi Personal Loan review is learning how to apply.
If a personal loan with SoFi is something you’re interested in, check out the following link. We’ll show you how the application process works.
How to apply for the SoFi Personal Loan
Wondering how to apply for a SoFi Personal Loan? Our step-by-step guide will take you through the application process, from start to finish.
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