– Low Interest Personal Loan with SoFi
In this article, we will brief you on the Low-Interest Personal Loan with SoFi.
So, if you want to get every info, make sure you read through this article.
Now, without wasting your time, let’s dive into what we have for you in this article.
SoFi Personal Loan Offer
To apply, visit www.sofi.com/personalloan.
Then, follow the on-screen prompts to apply for a loan.
However, to apply for a loan you must live in the United States and must be 18 years of age or older.
Hence, remember that Fixed personal loan rates range from 5.990% APR to 16.240%.
On the other hand, you might sign up to make payments with Auto Pay to save the most.
Pros and Cons of SoFi personal loan
- Range of loan amounts.
- Rate discount for autopay.
- Hardship program for borrowers in need.
- No fees.
- Mobile app to manage loans.
- Joint loan option.
- No option to select the first payment date.
- High min loan amount.
- Good credit is required.
- No guarantor options.
How to qualify for a SoFi personal loan
Before applying for the SoFi personal loan, there are some basic things most lenders may require, they include;
- To apply, you must be 18 years old at least.
- Also, you must be a U.S. citizen, permanent resident, or non-permanent resident, alongside DACA recipients and asylum seekers.
- You must be employed, have enough income, or have an offer of employment to start within the next 90 days.
However, SoFi doesn’t have an exact credit score or income required for applicants.
Hence, to qualify for a loan, the lender will assess your overall cash flow, financial history, credit history, and other factors.
Also, you might want to check out the following before applying for a loan, they are:
- Check your credit.
- Calculate your monthly payments.
- Make a plan to repay the loan.
- Get the needed documents like; proof of income, proof of address, and a Social Security number.
How to apply for a SoFi personal loan
Below are some easy steps to apply for a SoFi loan.
- Pre-qualify for SoFi’s loan on the website or mobile app.
- Next, complete the online application.
- Then, wait for the approval.
- Once you’ve been approved, sign the loan agreement.
- After that, you’ll get your funds sent to your personal bank account.
- The next step after getting your funds is to make payment on the due date.
However, SoFi reports payments to all three major credit bureaus, so on-time payments will help build your credit score, but missed payments will affect your credit score badly.
Hence, you might want to consider setting up auto payments to monitor and manage your plan.
SoFi.com Personal Loan Notes
- Offers live customer support 24/7
- Terms range from two to seven years
- Min Loan Amount $5,000
- Max Amount $100,000
- You make monthly payments of capital plus interest to repay the loan.
However, if you’re not certain if a SoFi personal loan is the best option for you, please call 855-456-7634 to speak with a SoFi customer care Rep or consider the next step.
More Personal Loan Options?
If you’re not certain if a SoFi personal loan is the best option for you, you can check out the following:
OppLoans My Offer
This is a great loan option for those who wish to rebuild their credit
Hence, visit https://secure.opploans.com/myoffer to apply.
- com My Offer
An average approved borrower on Upstart saves 27% compared to their credit card rate.
Hence, visit https://www.upstart.com/myoffer to apply.
On the other hand, if you are a permanent resident, you should be able to show proof of your permanent residency card (Green Card) and your Green Card must have a full validity (from issuance to expiry) of more than 2 years to apply for a SoFi loan.
Hence, SoFi interest rates are variable.
As a result, personal loans only change by the amount that LIBOR changes.
Also, interest rates on SoFi variable rate personal loans are said to be at 14.95%.
However, once your application is approved, the loan will be sent to your bank account in a few days.
SOFI.com/PersonalLoan Customer Service
You can reach out to SOFI.com/PersonalLoan Customer Service on the following:
Home Loans Support: 1-844-763-4466
Money Support: (855) 456-7634
On the other hand, you can also send a mail to:
- SoFi Lending Corp Personal Loans
PO Box 654158
- SoFi Lending Corp
P.O. Box 11733
In summary, we hope this article was a good guide on the Low-Interest Personal Loan with SoFi.
Hence, if you have any questions on the Low-Interest Personal Loan with SoFi, please comment, and we will reach out to you soon.
Frequently Asked Questions (FAQs)
What kind of loan is a SoFi loan?
SoFi refinances loans are private loans and do not have the same repayment plan to that as a federal loan.
Is SoFi a good idea?
SoFi is a strong option for good-credit consumers, offering low rates, no fees, and flexible payments.
Is it hard to get approved by SoFi?
You must have a minimum FICO credit score of 650 to qualify for a SoFi personal loan.
Is SoFi a legit lender?
SoFi is a legit bank and it has various products and services to help you manage your money.
How long does it take to get money from SoFi?
SoFi takes time; after approval, funds can take up to 30 days to be paid, and the wide application can make the wait time even longer.
Is the SoFi Personal Loan secured or unsecured?
The SoFi Personal Loan is an unsecured loan.
This means that you do not need to provide collateral for the loan.
Does SoFi hurt your credit?
SoFi conducts a soft credit pull that will not affect your credit score.
However, a hard credit pull, which may impact your credit score, is required if you apply for a SoFi product after being pre-qualified.