SoFi personal loan is an online lender for people with good to excellent credit scores and decent income. You can take the loan for home improvements, car repairs, medical expenses and purchases like this. To qualify for an SoFi personal loan, you have to have a credit score above 680. SoFi personal loans have prequalification, so you can increase your chances. Interesting feature of SoFi loans is unemployment protection. It allows you to suspend payments for up to 1 year. However, you will keep accumulating interest which can be quite high. The APR for SoFi personal loan loans can range from 6% up to 20%. But you can expect something like 15% interest. You can get a discount if you set up auto payment. The amount you can borrow ranges from $5,000 and up to $100k and the term is 2 or 7 years. SoFi charges no origination fee which is very good. Another thing to pay attention to is a late fee. SoFi personal loans have no late payment fees. Approval time is 3 days and if you are approved, money can be available within a couple of business days. The good thing is that you can pay it off early without penalties.

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