SoFi
FeaturedPaidTop-rated personal loans with no fees and unemployment protection
🔗Debt ConsolidationAbout SoFi
SoFi offers personal loans from $5,000 to $100,000 with competitive fixed rates, no origination fees, no prepayment penalties, and no late fees. What sets SoFi apart is its unemployment protection program that pauses your payments and helps you find a new job if you lose yours. The company also offers rate discounts for autopay and for existing SoFi members. SoFi personal loans can be used for debt consolidation, home improvement, relocation, and virtually any other purpose, with same-day funding available for qualifying borrowers.
What's Great
- ✓Zero fees — no origination, prepayment, or late fees
- ✓Unemployment protection pauses payments if you lose your job
- ✓Loan amounts up to $100,000 for well-qualified borrowers
- ✓Same-day funding available for approved applicants
- ✓Rate discount for autopay enrollment and SoFi membership
Watch Out For
- !Requires good to excellent credit for the best rates
- !No co-signer option available to strengthen applications
- !Minimum loan amount of $5,000 may exceed what some borrowers need
- !Joint applications are not available
Common Use Cases
High-credit borrower consolidating credit card debt at a lower rate
Professional financing a major home renovation with no-fee funding
Borrower wanting unemployment protection as a safety net
Pricing Model
Paid
Paid subscription required. Check the website for current pricing and free trials.
Category
Debt Consolidation
Combine multiple debts into a single loan with a lower interest rate.
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