All Loans > Personal Loans > Sofi Personal Loans Calculator

Important disclosure

SoFi Personal Loan Calculator, Interest Rates & Overview

Updated 5 March 2024

Fact checked

SoFi personal loans overview

SoFi offers flexible personal loans you can use for a variety of purposes. Whether you need to finance a wedding, home improvement, treatment, or more, you can secure competitive rates, terms, and monthly payments. On top of these, SoFi’s personal loans don’t have fees and don’t need collateral.

Want to see what a SoFi personal loan will cost? Try the SoFi personal loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

Key features

Minimum loan amount: $5,000.
Maximum loan amount: $100,000.
Interest rates: 8.99% to 25.81% APR
Loan terms: 24 to 84 months.
Loan fees: No origination fees.
Discounts: Interest rate discounts with autopay and direct deposit.

SOFI bank personal loan options

Personal loans

Whether it’s to finance personal, family, or household expenses, you can secure a loan from SoFi. You can borrow from $5,000 up to $100,000 and get an interest rate from 8.99% to 25.81% APR. Additionally, you can choose repayment periods from 24 to 84 months. Note though that personal loans can’t be used for business, real estate, investments, post-secondary education, or short-term bridge financing.

SoFi Personal Loan Calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

Sort loans by

Loan Amount

$20,000

Term

3 months

Change

SoFi personal loans

Estimated Month Repayments

$599 Inclusive of fees

Interest Rate

4.99%
APR

Repayment Period

24 months
to 84months

Loan Amounts

$5,000
to $100,000

Go to site

SoFi Personal Loans could help you save thousands. With low personal loan interest rates and a fixed monthly payment, you can get loans to pay off credit cards, pay off high interest debt, or make a major purchase. It only takes minutes to apply.

Featured

Wells Fargo personal loans

Estimated Month Repayments

$606 Inclusive of fees

Interest Rate

5.74%
APR

Repayment Period

12 months
to 84 months

Loan Amounts

$3,000
to $10,000

Go to site

Checking and savings accounts and credit cards for your everyday business expenses and cash management.

Featured

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments

$848 Inclusive of fees

Interest Rate

29.90%
APR

Repayment Period

12 months
to 12 months

Loan Amounts

$1,000
to $20,000

Go to site

ECU offers extraordinary products & services that make life just a little easier.

SeeLoans.com provides factual information about financial products. While SeeLoans.com attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on SeeLoans.com is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with SeeLoans.com. SeeLoans.com recommends reading the relevant product disclosure statement or product guide before taking up any financial product offer. Please view SeeLoans.com's Terms of Use for more information.

Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a SOFI personal loan

Eligibility criteria

To qualify for personal loans from SoFi, you need to:

18 years old or older
Be a US citizen, permanent resident, or non-permanent resident
Reside in one of SoFi’s eligible states
Be employed, have a reliable income, or have an employment offer and start within the next 90 days

While there’s no minimum credit score required from SoFi, a healthy credit score can increase your eligibility. So, try to build your credit standing to improve your chances and secure better loan offers and lower monthly payments.

What you’ll need to have ready

Personal details

When you apply for personal financing with SoFi, you’ll be asked to provide personal information such as:

An email address
Your full name
Address
Social Security number
Employment information
Income details
U.S. citizenship status
A list of monthly expenses

Documents

You can apply for the loan directly on SoFi’s website. During your application, you might need to supply additional documents or information. These may relate to your source of income, bank account details, and address history.

It helps to have an idea about the personal loan application process, too. By understanding the steps, you can make guided decisions when comparing and weighing your options. Plus, you can better negotiate your rate and term from SoFi.

Ways to apply for a SoFi personal loan

Apply online by clicking the GO TO SITE link in the table below
Visit a branch
Call (855) 456-7634

Additional SoFi personal loan details

Automatic payment: Available.

Loan approval times: Undisclosed, but SoFi loans may take a day or more based on your application.

Rate discounts: 0.25% interest rate reduction with autopay and 0.25% interest rate discount with direct deposit.

Repayment frequency: Monthly.

Late payment fees: None.
Prepayment penalty: None.

Co-borrowers allowed: Yes.
Co-signers: Not allowed.

Hardship program: Unemployment Protection Program available. (Learn more)

Ways to repay: SoFi mobile app, online banking, ACH, automatic payments, and by mail.

PROS AND CONS

Pros

Borrow up to $100,000.
Flexible loan terms.
No origination fees, late fees, and prepayment penalties.
Same-day funding.
0.25% rate reduction with autopay.
0.25% direct deposit discount.
Co-borrowers allowed.
Fixed interest rates for easier budgeting.
No collateral needed.
Convenient online application.
Soft credit check offered.

Cons

Borrowers should reside in one of SoFi’s eligible states.
Co-signers not allowed.

FREQUENTLY ASKED QUESTIONS

What can I use personal loans for?

You can use a personal loan for different reasons, like home improvements, credit card consolidation, and more. But you can’t finance business purposes, real estate, investments and securities, post-secondary education, and short-term bridge financing.

How much can I borrow from SoFi?

The maximum loan amount is $100,000.

How do I qualify for a loan at SoFi?

You need to meet certain criteria to qualify for personal loans from SoFi. For example, you should be at least 18 years old and employed or will start in the next 90 days. Plus, you also need to reside in an eligible state.

How much interest does SoFi charge on personal loans?

SoFi personal loans range from 8.99% to 25.81% APR. Remember though that your interest rate may vary based on your creditworthiness, term, income, and more.

Are SoFi personal loans fixed interest rate or variable interest rate loans?

SoFi’s personal loans come with fixed interest rates.

What is the maximum length of a SoFi personal loan?

You can pick a term from 24 to 84 months.

Where can I apply for a SoFi personal loan?

You can submit your application for a SoFi personal loan online.

How do I pay my personal loan?

You can make monthly payments through the SoFi mobile app, online banking, ACH, automatic payments, and mail.

Can I repay my personal loan early?

Yes. There aren’t any prepayment penalties on SoFi personal loans.

SoFi Personal Loan Calculator, Interest Rates & Overview