There are many situations in life where you might find yourself short on cash and need to borrow a little (or a lot) more to pay for the goods and services you need. SoFi is one of the many loan providers who can help you get a personal loan, and this company has become a leading name in the lending industry in recent years. Our SoFi review will tell you all you need to know.
SoFi is a San Francisco based company that really stands out in the financial world through its unique approach to lending and loans. This company is all about the customer, aiming to simplify the process of getting a loan and making loans more accessible. It has very low-interest rates and offers in-depth customer education resources to help you strengthen your financial skills and money management, and SoFi can even help its customers further their careers. It’s a great choice for young professionals looking for money.
If you want to find a personal loan with SoFi, all you need to do is head on over to the brand’s official site. They offer fixed personal loans that can help you pay off credit cards, cover the costs of home repairs and improvements, fund a vehicle purchase, and so on, without any origination fees, pre-payment fees, or even late fees to worry about.
The whole application process can be carried out online, quickly, and easily, which is a big benefit to choosing SoFi. There’s always-online support you can turn to for help and guidance too. What’s more, SoFi offers lots of educational materials and bonuses to its ‘members’, allowing you to learn more about personal finance.
Another interesting feature of SoFi’s personal loans is that they come with unemployment protection. This basically means that if you find yourself unexpectedly unemployed, SoFi will pause your loan payments temporarily and even help you to find a new job to get you back on your feet before you start paying again.
It’s also worth noting that SoFi offers a wide range of loan types, from student loan refinancing to mortgages and parent loans too, so it can be your go-to source for all of your financial needs.
One reason why so many people turn to SoFi is that they’ve heard about the great rates offered by this brand, and it’s fair to see that SoFi loans are some of the very best around. Here’s how they compare to the competition:
Amounts – You can borrow between $5,000 and $100,000 from SoFi for your personal loan needs.
Fees – There are no fees to worry about when taking a loan out with SoFi, and this includes origination fees and pre-payment fees.
APR – In terms of APR, you’ll find fixed rates of 5.99% to 18.85% with AutoPay via SoFi.
Terms – You can find a range of different loan terms with SoFi, ranging from as short as two years right up to seven years.
So what do you actually need in order to be eligible for a SoFi loan? Well, it’s fair to say that these loans aren’t for everyone, as you’ll need a credit score of at least 680 in order to qualify. This will mean that a lot of people out there with poor credit will have to look elsewhere or build their credit before applying with SoFi. You’ll also need to be a US citizen or resident of legal age and with sufficient income, either through your job or a job offer that starts within 90 days.
You won’t need to worry about reliability with SoFi. This brand is very well-established as one of the leading loan providers of modern times, with a lot of young professionals, in particular, turning to SoFi to meet their needs. The company treats user data with a lot of care and also goes above and beyond with its support for customers. It doesn’t just offer helplines and email support, it also offers lots of resources and even community events to help with network and career development.
It’s easy to see why so many people love SoFi. This brand really cares about its customers and doesn’t just stop at simply providing them with the cash they need. It goes a lot further than that, with its support and educational offerings really being second to none, making it a fine choice for aspiring professionals and entrepreneurs.