SoFi Personal Loans

4.9 out of 5 stars
285 Reviews

From Borrowers in the last year


Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

5 5

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Most Helpful Positive Review

Sep 07, 2016
Lankashim17 Borrower

What A Great Company!

My wife and I recently took out a loan with SoFi to help pay off our high interest credit cards. After years of rejection from MANY other lenders, we stumbled upon SoFi on Facebook, and said “why not try,” especially since SoFi was not a “hard” inquiry. To our delight, the SoFi company accepted our application, and processed our loan within days. We received a call from Dan in customer relations, explaining the process and when we would be receiving our money. We immediately paid off our credit card balances, and within 3 weeks our credit scores rose from the low 600s to over 750!
The whole SoFi process was so quick and painless that we have shared this great experience with friends in similar circumstances.

I even wrote the CEO on a Saturday evening to say thanks for the loan,

( his email in on their page) and I received a reply from Mitzy, the Relationship Management Consultant immediately, thanking me for the email.

This may be the best company I have ever dealt with! I know where I will be coming for my daughter's student loan in a couple of years! These guys rock!

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Most Helpful Negative Review

Jun 03, 2016
Still Waiting...
Arabro Borrower

The application process was pretty painless, couldve easily been sped up with making sure that all required information was gathered at the start. I started the process on May 2nd and was approved on the 11th. When i spoke with Stephanie the representative, she stated the loan should be funded in 10-14 days. When i hadn't heard from anybody in 14 days i called on the 25th, and spoke with another rep who informed me it would actually be up to 30 days. I am paying for a wedding and need the funds and so far not received any information from them concerning the timetable of the funding. It has been over 30 days from the start of the application, and so far i am not impressed with my interactions with SoFi. 

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These reviews were written by current and former borrowers in the last year.

Mar 09, 2017
Anonymous Borrower

I did a lot of research before I decided to apply for a loan with SoFI.  I loved the fact SoFI didn't have origination fees, the rates were low, the loan amount was high and it was a well and established company.  From the time I completed my application to when I received funds in my bank was 3.5 days!!!!  Amazing!!!  Never have I had a transaction go so smooth.  Plus, SoFI made me feel like family from day 1.  Their customer service was just fantastic.  I will continue to do business with SoFI in the future and will recommend my friends and family to do the same.  Thanks SoFI.

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Mar 06, 2017
Fantastic Service from the start
Anonymous Borrower

The personal loan that SoFi provided has not only given myself and my family peace of mind but also has provided new avenues to make even more strides in improving our financial outlook.  SoFi is fantastic!

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Feb 28, 2017
Very easy and saved a ton of money
Anonymous Borrower

We were looking for a credit card consolidation loan because we were paying over 700 a month in minimum and not getting any where. It was very easy doing business with sofi they are very professional and treat their customers with respect. We set up the loan paid off the cc's interest was 1/3 of the cc interest and the loan payment was less than I was paying for the cc min's. All in all it was a great experience!

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Feb 28, 2017
Excellent customer service
Anonymous Borrower

We applied for a loan and heard back VERY quickly. When we called with questions we spoke with a real English speaking human right away, after like two rings. All the information on the site is easy to understand. We have had an excellent experience with SoFi and recommend them to friends all the time!

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Feb 27, 2017
Easy and quick!
Anonymous Borrower

It was an easy process.  Just be sure to have the correct paperwork ready to upload and then you are good to go.  I completed the online process in about 15 minutes and was told quickly whether I qualified or not.  I make my payment online easily every  month on their website which is very easy to navigate.  I have had occasional questions, and I do the online chat with a rep and they are quick and always so helpful.

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Feb 22, 2017
100% Great Experience
Anonymous Borrower

Speaking from only my personal experience, I can only say great things about SoFi.  I was a little skeptical after seeing some negative reviews both here and on NerdWallet, but enough of the positive reviews made me feel comfortable giving it a shot.

I'm in my early 30s, with an undergraduate and masters degree.  Throughout my time as a poor graduate student, and a few years after as I worked my way back up the ladder in my new industry, I built up around $10k in credit card debt.  Then, I had to undergo an expensive surgery and long rehab process costing around another $10k.  Next thing I knew, I was over $20k in debt.  Along with my ongoing undergraduate loans, I was managing to pay only slightly more than the minimums each month, but not enough to gain traction on the debt quickly.  At interest rates of 10%, 13% and 16%, my minimum payments combined to around $650/month.  Most months I paid closer to $900, but the interest rates were killing me.  That's when I decided to give SoFi a hard look.

This is where I was absolutely amazed at the process.  I applied online on a Monday evening at 11:30PM.  I received an email that my loan had been approved an hour and a half later.  I digitally signed the forms on Tuesday evening, and received a phone call that evening that the loan should fund in 24-48 hours.  Sure enough, the loan showed up as a pending deposit in my account the next day (Wednesday - as I write this), and should clear on Thursday.  Literally, within 72 hours of filling out my online application, the money will be in my bank account and I'll be able to pay off all my credit cards in full.

My credit score was 723, according to the credit report SoFi sent along with my loan agreement.  I received a 5-year fixed loan at 9% (8.75% with autopay) for monthly payments of $550.  The reduction in interest rates is going to save me a ton over the repayment period, and thats if I only pay the $550 each month.  It's just so nice to have my debt consolidated to a single monthly payment, with an end in sight.  But even knowing that if I only pay $550/month, I'll be paid off in 5 years, gives me a little wiggle room compared to the $700 or so I needed to pay just to meet the credit card minimums.

Can't say enough about how quick, easy, and painless the process was, and I would highly recommend to anyone in a similar situation.

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Feb 16, 2017
Shocked on the greatcustomer service!!!!
fm007 Borrower

I applied and qualified for a personal loan with SoFi. Got an amazing rate!!!! There loan applciation process can us a little tweaking, nothing terrible. However, what the application process lacks, the customer serivce make up for it a 1000000pct. Don't hesiate to call an ask them how the procress is going... 

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Feb 15, 2017
Anonymous Borrower

I applied and was approved for a Student loan consolidation and a personal loan for $50K.  Although I am not saving much on a monthly basis, I now have a definite date for when I will be out of debt.  The whole process was fast and easy.  It took 4 business days from application to funding.

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Feb 07, 2017
Anonymous Borrower

it helped me pay off other loans i have and it is way cheaper than other lenders. It really helped me.

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Feb 07, 2017
completed electronically and remotely.
Hopup Borrower

From loan application to funding, the process was smooth and completely online.  Necessary documents were uploaded to the company's secure site.  Paperwork was reviewed very quickly after submitting and when specific information was needed, a customer service representative called.  The only issue I incurred during the process was becuase I had a fraud alert placed on my credit report.  Because it is 100% online, I ad to have the fraud alert removed. Initially, it looked like I would have to write and mail a letter to the credit bureau. Furthermore, when I called SoFi to ask for adivce in proceeding, they told me that it was entirely up to me to figure it out.  I assumed that they had previous customers that went through the same issue, but the customer service representative refused to provide any assistance in the matter.  I called the credit bureau and spoke with a customer service representative there and found that I could do it telephonically. 

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