Personal Loans - Apply Online, Same Day Funding | SoFi (2024)

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Personalized loan options for what you
need—and when you need them.

Combine your debt into one payment and you could reduce your monthly payments. Learn more.} heading="Credit Card Consolidation" topLeftImg={{ alt: 'Credit Card Visual Effect', src: '', srcSet: ' 104w, 274w' }} topRightPillClassName="" topRightPillText="1 / 5" /> Pay for home repairs or renovations without using your home as collateral. Learn more.} heading="Home Improvements" topLeftImg={{ alt: '', src: '', srcSet: '' }} topRightPillClassName="" topRightPillText="2 / 5" /> Cover pregnancy, adoption, IVF or surrogacy costs with manageable monthly payments. Learn more.} heading="IVF Loans" topLeftImg={{ alt: '', src: '', srcSet: '' }} topRightPillClassName="" topRightPillText="3 / 5" /> With low fixed rates, steady monthly payments, and no fees required, our personal loan travels well. Learn more.} heading="Travel and Vacation" topLeftImg={{ alt: 'Car Visual Effect', src: '', srcSet: ' 127w, 254w' }} topRightPillClassName="border-color-white" topRightPillText="4 / 5" /> From engagement ring to honeymoon—you could save money compared to a high-rate credit card. Learn more.} heading="Weddings" topLeftImg={{ alt: '', src: '', srcSet: '' }} topRightPillClassName="" topRightPillText="5 / 5" />

Why apply for a SoFi Personal Loan?

  • Low rates

    Low fixed rates that won't change over time, protecting you from rising interest rates.

  • No fees required

    That means no origination fees required, no prepayment penalty fees and no late fees whatsoever.

  • Same-day funding

    Your funds could be available as quickly as the same day your loan is approved.

Expand to see how the features of a SoFi Personal Loan makes it stand out from the rest.

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How do personal loans work? A personal loan is a borrowed sum of money that is paid back with interest in installments. With SoFi Personal Loans, you can borrow between $5,000 and $100,000 for various expenditures that include home improvements, credit card consolidation, medical bills, IVF, even unplanned life events that call for emergency funds, and more. You can also check your rate in 60 seconds without affecting your credit score†, and get your loan amount funded as soon as the same day you’re approved.

Learn more

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Save thousands with a low, fixed-rate personal loan.

With credit card rates on the rise, see how you could save thousands on interest by consolidating
existing debt into a low fixed monthly payment.

Personal Loans - Apply Online, Same Day Funding | SoFi (1)

View your rate

Checking won’t affect your credit score..

Example chart shows calculations based on a 5-year SoFi Personal Loan with a fixed rate of 14.83% APR, which is the rounded average median funded APR for SoFi Personal Loan borrowers who took out a loan with a 5-year term from November 1, 2022–November 1, 2023. Lowest rates are reserved for the most qualified borrowers. The ‘High-Interest Rate Credit-Card’ APR shown is the average credit card APR reported by WalletHub for Q3 2023 under their ‘Good Credit’ category. The savings estimate also assumes that the borrower doesn’t take out any additional credit card debt during the same period. Both calculations assume 60 total monthly payments, no origination fee option selected, and no prepayment amounts.

Get a more precise estimate of how a SoFi Personal Loan could save you money.
Personal Loan Calculator} headingText="Run the numbers with our personal loan calculator." imgAlt="Personal loans calculator illustration" imgSrc=""/>

Easily apply for a personal loan online in 3 steps.

  1. Prequalify

    Find the rate that you qualify for in 60 seconds with no commitment.

  2. Choose your loan terms

    Choose from 2-7 year terms and finish your application online.

  3. Receive your funds

    Sign your documents and funds will be wired to your account—as quickly as the same day.

View your rate

Checking your rate will not affect your credit score.

Resources on personal loans.

We have over 500 articles, budgeting tools, and guides—all with the goal of helping you Get Your Money Right®.

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Personal Loan FAQs

What can I use a personal loan for? Many people apply for a low-interest personal loan to consolidate high-interest credit card debt. These loans can also be used to fund major life purchases or expenses, like home improvements, weddings, unexpected medical expenses, moving expenses, or funerals.

Learn more: What Are The Common Uses For Personal Loans?

What is a personal loan? A personal loan is a loan offered by many banks, credit unions, or online personal loan lenders and typically range from $5K-$100K. While many loans specify how the money should be spent, personal loans allow for more flexibility and can be used to cover big expenses or consolidate high-interest debt with a more favorable rate.

Learn more: What is a Personal Loan?

Should I take out a personal loan to pay off my credit cards? Personal loans can be used for a variety of purposes, but are commonly used to consolidate high-interest credit card debt. When using a personal loan to pay off credit card debt, the loan funding is used to pay off the cards’ outstanding balances. Ideally, the new debt consolidation loans will have a lower interest rate, making payments more manageable or saving the person money from accrued interest. Click here to learn more about the pros and cons of using low interest personal loans to consolidate debt.

Learn more: Using a Personal Loan to Pay Off Credit Card Debt

How can I calculate my expected monthly payments for a personal loan? The monthly payment for a personal loan is determined by a variety of factors, including your interest rate, loan amount, loan term, and more. Our Personal Loan Calculator can help you figure out your monthly payments and decide whether applying for a personal loan is the right move for you. Do personal loans require down payments? No, unsecured personal loans do not require a down payment, unlike a secured home loan.
What credit score is needed for a personal loan? Applying for personal loans online or at your financial institution will require meeting your lender’s criteria. Since most personal loans are unsecured (meaning they don’t require collateral) this criteria assures the lender that you can repay the loan. Lenders will typically evaluate your credit score, income, and debt-to-income ratio, among other factors. Lower credit scores could affect your eligibility, terms or rate for a SoFi Personal Loan.

Learn more: Typical Personal Loan Requirements Needed for Approval

Are SoFi Personal Loans fixed interest rate or variable interest rate loans? SoFi Personal Loans are fixed rate loans. If you like the consistency of knowing exactly what your monthly payments will be over time, you might prefer a fixed rate loan. Also, if you plan to pay your loan back over a longer period of time, say 10 or 20 years, you might prefer to eliminate the risk of interest rate changes over time by selecting a fixed rate loan. Is the SoFi Personal Loan secured or unsecured? SoFi Personal Loans are unsecured loans. This means that you do not need to provide collateral for the loan. How much money can I get a personal loan for? The answer depends on a wide range of factors, which mainly includes the type of lender and yourcredit score. A SoFi Personal Loan allows applicants to borrow between $5,000 and $100,000. Will applying for a personal loan affect my credit? To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more credit bureaus, which is considered a hard credit pull. How much money can I get a personal loan for? Personal loans typically range between $1,000 to $40,000. With a SoFi Personal Loan you can borrow a minimum loan amount of as little as $5,000 or as much as $100,000. Your loan funds could be available in your bank account as quickly as the same day as credit approval.

See all FAQs

Apply for your personal loan in 60 seconds.

Your time matters—so we made it fast to get started.

View your rate

BTW it's a soft inquiry, so it won't affect your credit score.

† To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2022 was around $30K. Information current as of 6/2/23. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 ( See for state-specific license details. See for details and state restrictions.

Fixed rates from 8.99% APR to 29.49% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive. 5 Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. 7 Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan. § Awards or rankings are not indicative of future success or results. Neither SoFi Bank, N.A. nor its employees paid a fee in exchange for ratings. Awards and ratings are independently determined and awarded by their respective publications.

‡ Same-Day Personal Loan Funding: 82% of typical SoFi personal loan applications, excluding Direct Pay personal loans and personal loan refinance, from January 1, 2022–January 1, 2023 that were signed before 7pm ET on a business day were funded the same day.

^ Direct Pay: Terms and conditions apply. Offer good for new personal loan customers with credit cards in their name only and subject to lender approval. To receive the offer, you must: (1) register and/or apply through this landing page; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) meet SoFi’s underwriting criteria; (4) apply 50% or more of your loan proceeds directly to your creditors. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount. Offer good for new customers only. Cannot be combined with other rate discounts with the exception of the 0.25% autopay rate discount, 0.25% direct deposit discount, and 0.125% member discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice. It takes about 3 business days for your credit card lender to receive payment after your loan is signed. You will be responsible for making all required payments to avoid credit card fees.

Excellent/4.6/5 star rating based on 5,811 reviews as of June 2, 2023. © 2023 Trustpilot, Inc. All rights reserved. Returning Borrower Special Pricing: Current and former SoFi Personal Loan, Student Loan Refinance, In-school loan, or home mortgage loan customers may be eligible for Returning Borrower special pricing on a personal loan if they meet the eligibility criteria and any other applicable terms and conditions. To receive this offer you must (1) apply for a new personal loan and submit your application; (2) complete a loan application with SoFi within 90 days of your application submit date; and (3) meet SoFi’s underwriting criteria. The pricing special automatically will be reflected in the rate offered at the time of application, and it will fall within SoFi’s standard Personal Loan range of rates. SoFi reserves the right to discontinue or modify the Returning Borrower Special Pricing at any time and without notice. Such changes or modifications will only apply to applications begun after the effective date of the change.
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Personal Loans - Apply Online, Same Day Funding | SoFi (2024)


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