In this article we will talk about Sofi Personal Loan Apply. Sofi is a private finance company which was started in the year 2011and helps people by providing personal loans, business loans, various types of loans.
About SoFi Personal Loans Apply
SoFi Personal Loan applications begin within 1 business day and most of our applications are completed within 2 business days.
For Applicants that are self-employed or have income that requires additional documents for review, our Self Employed Operation Specialists will contact you within 2-4 business days to start our review!
Sofi Personal Loan Documents
Since personal loans are often unsecured, the loan application process may require less documentation than secured loans.
Some examples of documents commonly used for proof of identity during the loan application process are:
- Driver’s License
- Passport
- Social Security Card
- Government-issued Photo ID
- Certificate of Citizenship
Here are a few types of documents lenders may accept as proof of address :
- Utility bill (including water, power, or cable)
- Lease agreement
- Voter registration
- Change of address confirmation from the U.S. Postal Service
- Insurance for your vehicle, rental, or home
here are some examples of documents lenders may accept as proof of income :
- Bank statements
- Pay stubs
- W2 tax forms
- Copies of income tax returns
- Employment verification from your employer
If you are self-employed, Then
- Bank statements
- 1099 tax forms
- Copies of income tax returns
Personal loan Interest rate
SoFi offers affordable rates to its customers so that customers can avail personal loans at low interest rates.
| Term | Origination Fee | Rate (APR) | No. of Payments | Monthly Payment | Total Payments |
|---|---|---|---|---|---|
| 2 Years | None | 8.99% – 20.45% | 24 | $1,370.40 – $1,533.48 | $32,889.71 – $36,803.45 |
| 3 Years | None | 10.24% – 21.64% | 36 | $971.40 – $1,140.13 | $34,970.38 – $41,044.82 |
| 4 Years | None | 10.54% – 24.06% | 48 | $768.68 – $979.05 | $36,896.69 – $46,994.42 |
| 5 Years | None | 11.38% – 25.81% | 60 | $657.97 – $894.84 | $39,478.34 – $53,690.56 |
| 6 Years | None | 11.93% – 19.53% | 72 | $585.41 – $710.44 | $42,149.83 – $51,151.33 |
| 7 Years | None | 13.14% – 20.81% | 84 | $548.04 – $680.89 | $46,035.77 – $57,195.14 |
Personal Loan application process Time
SoFi Personal Loan applications begin within 1 business day and most of our applications are completed within 2 business days.
Learn More
Sofi Personal loan apply online
Once you have all your documents on hand, you are ready to fill out either an online or in-person loan application. If you are applying online, you will be required to scan the documents and upload them with the application.
Personal loan eligibility criteria
- Good Credit score like 675 or above
- good payment history
- Proof of Income and Employment
- origination fees
You can visit Sofi Official Website for more information – learn more
FAQ
Q. What documents do you need for a SoFi personal loan?
A. For many lenders, you’ll need to submit things like a photo ID, proof of address, and proof of employment or income.
Q. What credit score do you need for a SoFi personal loan?
A. SoFi requires a minimum credit score of 680 to be approved for a personal loan
Q. What is the minimum income for a SoFi loan?
A. SoFi requires personal loan applicants to have an annual income of at least $45,000 to qualify.