Personal Loans review

SoFi review

Name: SoFi review
Item: SoFi
Rating: 9.3
Author: ChoosyOwl

Best overall

Online bank with a soft-pull rate check, autopay discount, co-borrower option and published unemployment protection. Borrowers with established credit who want to check their rate without a hard pull and value a published job-loss protection program. We rank it #1 of 10 in our personal loans comparison, with an editorial score of 9.3 out of 10.

Updated November 14, 2026By the ChoosyOwl editorial teamHow we rank

9.3/10

Our editorial score

SoFi scores highest on Customer protection & hardship options because it publishes an Unemployment Protection Program, and well on Rate-check experience because its site says checking your rate uses a soft credit pull. It also does well on Borrower flexibility thanks to autopay and member rate discounts, co-borrower applications and 2-7 year terms. It loses a little on Cost transparency because an origination fee may apply depending on the offer, so you need to read each offer carefully.

How we score personal loans

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Lending disclosure.

We are not a lender and do not make credit decisions. We do not broker loans or arrange credit on your behalf. Rates, APRs, fees and terms are set by each lender and depend on your credit profile, income, loan amount, loan term and state of residence. Not all products are available in all states.

Checking your rate usually uses a soft credit inquiry that does not affect your credit score. Submitting a full application typically triggers a hard credit inquiry, which may affect your credit score. Approval is never guaranteed, and the rate you are offered may differ from any rate a lender advertises.

Representative example: Happen Bank (formerly LendingClub) shows this example on its site (https://www.happen.com/personal-loan): a borrower receives a loan of $15,262 for a term of 36 months, with an interest rate of 13.99% and a 6% origination fee of $916, for an APR of 18.40%. In this example, the borrower receives $14,346 and makes 36 monthly payments of $522. This example is as published on Happen Bank's site in November 2026; rates change, check your rate on the lender's site. It is an illustration from one lender, not an offer, and your own terms will differ.

Borrow only what you can repay. Missing payments can lead to late fees, collection activity and damage to your credit.

Quick facts

Our rank#1 of 10

Best forBest overall

Lender typeDirect lender (bank)

Soft-pull rate checkYes, soft-pull rate check

APR range (as published)6.99%-35.49% APR (reflects 0.25% autopay and 0.25% member discounts)

Loan amounts (as published)$5,000-$100,000

Terms (as published)2-7 years

Fees (as published)Origination fee 0%-7%, deducted from loan proceeds

Facts checkedNovember 14, 2026

Details are general and can change. Check current plans, prices and terms on the SoFi site. See the SoFi company profile in our brand directory.

Overview

SoFi is a US online bank that offers personal loans alongside checking, savings and other financial products. Its site says checking your rate uses a soft credit pull that does not affect your credit score, and that continuing an application after you choose a product leads to a hard credit pull.

SoFi offers autopay and member rate discounts, terms of two to seven years and co-borrower applications. Its help pages describe an Unemployment Protection Program that may let eligible borrowers who lose their job through no fault of their own put the loan into forbearance for a period; interest may still accrue, so read the terms.

As published on SoFi's site in November 2026, fixed rates range from 6.99% APR to 35.49% APR (reflecting autopay and member discounts), loan amounts range from $5,000 to $100,000 and an origination fee of 0%-7% may be deducted from the proceeds; rates change, check your rate on the lender's site.

Pros and cons

Pros

Personalized rate without a hard inquiry
Published job-loss hardship program
Autopay and member discounts can lower the rate
Wide range of loan amounts and terms

Cons

An origination fee may apply depending on the offer, so compare APRs
Lowest rates are reserved for the most creditworthy borrowers
Rates and terms depend heavily on your credit profile

Key features

Soft-pull rate check before you apply
Autopay and member rate discounts (check current terms)
Unemployment Protection Program (check eligibility)
Co-borrower applications accepted
Terms of 2 to 7 years

Who SoFi is for

A good fit if

Borrowers with established credit who want to check their rate without a hard pull and value a published job-loss protection program.

Look elsewhere if

Anyone with a thin or damaged credit history who needs a lender that weighs factors beyond credit score.

How we scored SoFi

Our personal loans score weighs cost transparency (25%), rate-check experience (25%), borrower flexibility (20%), customer protection & hardship options (20%), eligibility clarity (10%). See the methodology.

SoFi alternatives

#2
PenFed Credit Union
Best for no origination fee
Federal credit union with a soft-pull rate check, no origination fee and an autopay discount.
- Soft-pull rate check before you apply
- No origination fee, early payoff fee or balance transfer fee
- Rate discount for autopay set up before funding (check current terms)
- Loans for debt consolidation, home improvement and personal use
9.1/10
Editorial score
Visit site (PenFed Credit Union, opens in a new tab) Read review Compare
#3
Upgrade
Best for debt consolidation
Online lender with a soft-pull rate check and direct payment to creditors for debt consolidation.
- Soft-pull rate check before you apply
- Option to pay creditors directly for debt consolidation
- Joint applications accepted
- Discounts for autopay, direct payoff and secured options (check current terms)
8.9/10
Editorial score
Visit site (Upgrade, opens in a new tab) Read review Compare
#4
Happen Bank (formerly LendingClub)
Best for joint applications
LendingClub's new name: a bank with a soft-pull rate check, joint applications and direct payment to creditors.
- Soft-pull rate check; hard inquiry only if a loan is issued
- Joint applications accepted
- Direct payment to creditors for balance transfer loans
- Operates as a bank (Happen Bank, N.A.)
8.8/10
Editorial score
Visit site (Happen Bank (formerly LendingClub), opens in a new tab) Read review Compare

Head-to-head

See all 10 personal loan options compared

SoFi FAQ

Does checking my rate with SoFi affect my credit score?

SoFi's site says checking your rate uses a soft credit pull, which does not affect your credit score. If you choose a product and continue your application, SoFi requests your full credit report, which is a hard pull.

Does SoFi charge an origination fee?

SoFi's site says an origination fee may apply depending on your offer and is deducted from the proceeds. Your offer shows the fee and the APR, which includes it. Check the current terms on SoFi's site.

What happens if I lose my job while repaying a SoFi loan?

SoFi's help pages describe an Unemployment Protection Program that may let eligible borrowers put the loan into forbearance for a period. Interest may still accrue, and eligibility rules apply. Check the current program terms on SoFi's site.

Sources and fact check

We checked the facts on this page against SoFi's own website on November 14, 2026. Published ranges are quoted as shown on the provider's site on November 14, 2026; they change, so check the current figures before you apply.