30-yr fixed 6.43% ▾ 0.06 wk
15-yr fixed 5.79% ▾ 0.04 wk
HELOC avg 7.90% — no change
Auto 60-mo new 6.82% ▴ +0.03 mo
Personal 24-mo 11.57% ▾ 0.12 qtr
Credit card APR 21.52% ▴ +0.09 qtr
as of Jul 2, 2026 · Federal Reserve / Freddie Mac via FRED (St. Louis Fed)
Online lender · Independent review

SoFi: an honest look at the rates and the fine print

SoFi built its name on student-loan refinancing and now runs a broad online lending and banking operation. It stands out for charging no late fees and for member perks, but its rates favor strong-credit borrowers — thin-file applicants are often declined rather than priced high.

By Daniel Reeves · Reviewed by M. Okafor, CFP Updated July 2, 2026

SoFi

Personal loans · Online lender · NMLS #1121636 · Founded 2011

4.5/5
  • Personal loan APR8.99–29.49%
  • Loan amounts$5,000–$100,000
  • Terms24–84 months
  • Origination fee0–7% (optional)
  • Min credit score680 (est.)
  • Funding timeSame day–few days

Independent profile. Loans Advisor is not affiliated with, or compensated by, this lender.

Where SoFi fits

Strengths

  • No required fees on personal loans
  • Fast online funding
  • Unemployment protection benefit

Watch-outs

  • Best rates need 700+ credit
  • No co-sign on personal loans
  • Not ideal for small amounts

Best for

Based on its rates and products, SoFi is most relevant if you're looking at:

Figures are researched from public rate sheets and regulatory filings and change often — verify current terms with SoFi before applying. Loans Advisor is not affiliated with, or paid by, SoFi, and earns no referral fee from this profile.