Personal Loan

Loan Amounts. SoFi offers personal loans with amounts ranging up to $100,000. This allows borrowers flexibility to cover a wide range of expenses, from home improvements to debt consolidation.

Annual Percentage Rate (APR). The APR for SoFi personal loans ranges between 8.99% and 29.99% with autopay. It's important to note that maximum interest rates can be lower in several states including Alaska, Colorado, Connecticut, Hawaii, Illinois, Kansas, Maine, Oklahoma, South Carolina, Texas, Virginia, and Wyoming. These rates ensure that borrowers get competitive terms depending on their creditworthiness and location.

Loan Terms. SoFi provides loan terms up to 84 months. This extended repayment period can help reduce monthly payments.

Age and Legal Capacity. Applicants must be at least the age of majority in their state and capable of entering into a binding contract.

Citizenship and Residency. Applicants must be U.S. citizens, permanent residents, or non-permanent resident aliens. U.S. Citizens must provide valid documentation such as a U.S. driver's license, certified birth certificate, valid U.S. passport, permanent resident card, government-issued ID card, global entry card, report of birth abroad form, certificate of citizenship, or certificate of naturalization. Permanent Residents must show a permanent residency card (Green Card) with no expiration date, or with an expiration date more than 2 years past the “Resident Since” date. If the expiration date is 2 years or less from the “Resident Since” date, it must be accompanied by an I-751 receipt notice (I-751 NOA) or I-829 receipt issued within the last 12 months. Non-Permanent Resident Aliens must provide valid documentation such as an E-2, E-3, H-1B, J-1, L-1, or O-1 Visa, or Form I-797A/B, along with an approved Green Card application documented with an I-140 approval notice or receipt/approval of an I-485 application. DACA Recipients must have a valid Employment Authorization Document and have applied for DACA (I-821D) or Permanent Residency (I-485). Asylum Seekers must have a valid Employment Authorization Document and have applied for both Permanent Residency (I-485) and Asylum (I-589).

Employment and Income. Borrowers must be employed, have sufficient income from other sources, or have a job offer to start within the next 90 days.

Educational Background. Applicants must have previously enrolled or graduated from degree-granting Title IV eligible schools.

Refinancing Conditions. Applicants looking to refinance educational debt must be aware that bar loans and residency loans are not eligible for refinancing at this time.