SoFi is an online lender that helps clients with saving, spending, investing, and protecting their money. Its offerings include student and personal loans, mortgages, active investing, life insurance, stock bits, and cryptocurrency. In this article, we cover SoFi reviews and pricing. Ready to get started? Visit its website.
The SoFi pricing details cover two types of interest rates: Fixed (ranging from 5.99% to 18.07% annual percentage rate [APR]) and Variable (ranging from 5.74% APR to 14.70% APR). Its loan terms are from 2 to 7 years with loanable amounts of $5,000 to $100,000.
5.99% APR to 18.07% APR
5.74% APR to 14.70% APR
2 to 7 years
$5,000 to $100,000
No origination, late, and prepayment
*The minimum loan amount may be higher in specific states due to legal requirements.
Ready to get started with SoFi? Visit its website.
Top Lenders 2019
up to $250,000 for line of credit
Summary of Positive SoFi Reviews
Users who gave positive SoFi reviews said that applying for a loan is quick and easy. Many also commended its friendly and professional representatives for providing excellent support from start to finish.
One user who left a positive review of SoFi on Trustpilot likes how straightforward its loan application process is, adding that he just had to submit the requirements while the rest was taken care of by its staff. He added that its customer support team kept him updated on each step of his application and helped him get funded in a timely manner.
Summary of Negative SoFi Reviews
Users who gave negative SoFi reviews expressed disappointment with denied loan applications that didn’t include an explanation. They added that it asks for too many documents and requirements and still ends up denying their applications.
One user who left a negative review of SoFi on Trustpilot complained about false hopes and inaccurate information provided to her upon application. She added that although its people are great, they failed to set proper expectations, making her believe that they could help with her situation when, in fact, her loan had already been denied.
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Check out the list below of some of SoFi’s services:
- Student loan refinancing
- Home loans
- Stock Bits
- And more
What types of loans and insurance does SoFi provide?
SoFi offers student loan refinancing, medical or dental resident refinancing, parent PLUS refinancing, undergraduate student loans, private student loans, parent-student loans, personal loans, home loans, mortgage, and mortgage refinance. It also provides renters insurance, homeowners insurance, auto insurance, and life insurance.
How long does it take for SoFi to release funds?
SoFi generally releases loaned funds within a few days after the approval of an application. The process involves the borrower signing a loan agreement and confirmation of the address.