SoFi: Personal Loans Review

  2,529 Reviews on Trustpilot

SoFi Snapshot

SoFi is a direct lending company founded by four Stanford Graduate School students in 2011. Offering a fresh approach to lending, the alternative lending platform was created to offer a service that could help university students pay back their student loans without having to go through a bank or other traditional means.

SoFi has been committed to their mission to help college students pay back student loans and have even expanded their services. To date, SoFi has extended over $7 billion in loans to customers. The company offers advanced lending technology and also provides money management solutions, alternative loans, and life insurance.

SoFi Spotlight

Best For
Recent college or university graduates and young professionals

Marketplace or Direct Lender
Direct lender

Loan Types
Multi-purpose personal loans

Loan APR
5.99% to 18.28%

Repayment Terms
24 to 84 months


SoFi offers very low interest rates to their customers and are dedicated to customer education, making it one of the best choices on the market for young borrowers.

Not only do they offer lower interest rates, but they also offer longer terms than most lenders. As a direct lender, SoFi offers terms from 2 years all the way to 7 years to help college graduates with lower monthly payments as they get their feet off the ground while starting their careers.

Loan Types

While SoFi is known for its great personal loan offers, it offers prospective borrowers several options, including mortgages, mortgages refinancing, student loan refinancing, and parent loans.

Plus, SoFi is committed to help those seeking loans develop financial independence and help them make responsible financial decisions through various educational resources.

Personal Loan Rates & Terms

SoFi has 2 different offers when it comes to securing a personal loan: variable or fixed interest rates.

Their interest rates may change depending on how you decide to pay out your loan. For instance, if you choose to do automatic payments, SoFi can offer you better interest rates. Plus, there aren’t any fees on any of their personal loans.

SoFi’s loans are mainly aimed at recent graduates and young professionals. Their loans amounts are available in terms of anywhere from 2 to 7 years, making them one of the most flexible lenders.

While many personal loan providers only issue fixed loans, SoFi lets you choose your term and your amount.

SoFi Pros

  • No fees
  • Flexible loan terms
  • Unemployment protection (loan payments freeze in case of job loss)
  • Long terms (84 months)
  • Little or no credit history to get approved

SoFi Cons

  • You need good credit to apply (680+)
  • Application takes longer than competitors
  • Approval process takes longer than competitors

SoFi Application Process

Since SoFi’s qualification process is a bit more in-depth, they don’t have the quickest application process compared to other lenders in the industry. However, this has its advantages.

Eligibility for a loan depends on a few factors, including your income, expenses, career experience, and financial history.

While the application process takes longer, SoFi is committed to helping young people get their feet off the ground, even if they have little or no credit history.

To apply, you start by creating a SoFi account. Then, you’ll fill out some basic information which takes a few minutes.

In order to apply, you need to:

  • Be 18 years or older
  • Be a permanent resident or US citizen
  • Be employed, or have an offer to start a job within 3 months of your application
  • Have a minimum credit score of 680

SoFi’s loans range from anywhere between $5,000 and $100,000, although you’ll need a higher credit score to qualify for a high loan.

Customer Support

As they’re committed to helping young people get their feet off the ground, SoFi offers great customer service and financial education resources.

They have a full FAQ section which can answer many basic questions about the loan process. Plus, they offer a ton of articles to learn more.

For even more help, you can contact them through email or phone throughout the week (during normal business hours).

Final Thoughts on SoFi

So, should you use SoFi to access a personal loan?

If you’re a young professional or a recent graduate, then you’ll want to consider SoFi. They’ve set themselves apart in the lending industry as a direct lender by providing transparent financial services.

Despite their longer application and approval process, they’re one of the best direct lenders available, particularly for college students and young adults looking to secure a loan.

Whether you’re wanting to pay off your student loan or make a large purchase, SoFi offers great flexibility in loan terms while keeping interest rates low.


What can you use a SoFi loan for?

You can use a SoFi loan for a variety of reasons. While borrowing between $5,000 to $100,000, you can use the loan for personal, household, or family expenses. However, you can’t use the loan for higher education, starting a business, investments, bridge financing, real estate, or buying securities.

What fees does SoFi charge?

SoFi doesn’t charge any fees for origination, prepayment, or closing. Plus, they don’t charge any late fees!

SoFi Customer Testimonials

Average   2,529 Reviews



20 January, 2022


Just want to get your personal info

Preapproved (800+ score) for over 20k. Filled out and submitted the online application. Took a long time to process the application and then it got denied. I was told that I could see the reason for it being denied in my sofi account that was created to apply for the loan. The sofi account now says my password is "incorrect" so I can't even access the account. It appears that they just wanted my information, probably to sell it, because now all of a sudden I am getting emails from all kinds of businesses and other places.


03 January, 2022


Two Issues - Avoid Sofi

Two Issues 1. Sofi has no issue transferring money from my account into their accounts. However, when I went to close my account, they transferred my funds to a bank I've never used or heard of. I verified my bank account, so how did they fail to transfer the money back into my account? 2. When I went through closing my SoFi account, they decided to conduct a hard credit inquiry on me. I never gave them permission, and I've contacted them multiple times to remove the credit inquiry, but it remains on my credit report. I've talked to their customer service multiple times for each situation. Both issues remain the same and unsolved.


02 January, 2022


Refi by SOFi the Worst for daughters college loan

Refi for daughters college loan, took 45 days for application, I had to provide S.S. card? Who does this?? Took a week and got new card, havent needed it to buy a house or mutiple cars... Then they needed a release for soft and hard credit report pulls, But the website wouldnt push nor would they email release to me. They asked to close application(45 days later) and start new one, No Thanks will go to local Credit union instead. Stay away total B S company


23 December, 2021


Terrible experience with their credit…

Terrible experience with their credit card service. The benefits are appealing, but most often the chat is unavailable and when you call customer service by phone, it’s a constant busy signal. Two days of trying to get through, finally reach a rep. A large refund ($600+) was on my account and I request a manual check. Was told to allow a week and it should be received. Three weeks later, zero check and no communication. Sofi Money/Credit card is not ready for prime time.


18 December, 2021


Dispute process is terrible, shows total disregard for their customers

If you want to file a dispute, they make it extremely difficult to do so. First, they wait two weeks after you call it in, then send you a letter saying that you have 10 days to fax or snail-mail them the details. Even though I already provided all the details when I reported the dispute in the first place. They really attempt to make the whole process as difficult for you as possible. Other cards allow you to dispute online, which is how it should be. On top of this, they farm out the entire dispute process to some company called Fiserv, which has no relationship to SoFi. Just a terrible way to treat your customers.


07 December, 2021


I was looking for a large personal loan…

I was looking for a large personal loan for home improvement. While I was pre-qualified by SoFI, the longest duration personal loan is 4 years. I also applied to LightStream and they offer 12 years. SoFi won't even consider looking at my finances to see if they could offer a longer duration. LightStream, here I come!


28 November, 2021


I opened up two accounts by mistake try…

I opened up two accounts by mistake try to transfer the money from one account to another account it's been well over a month now and nobody can help me nor did I receive any money I got a feeling I've been scammed and that's what I've been reading on the review boards that you can't get your money out of them what good is this service if they won't give you your money back good luck getting somebody to help you . My next phone call will be my local congressman the better Business bureau and consumer affairs stay away not honest company.


20 November, 2021


Sofi Inexplicably closed my account and revoked my referral rewards

Action: Sofi inexplicably closed my Sofi Money account so I called support to find out why Response: Sorry sir we can't help you or tell you why your money account has been closed, we're sorry about that... Action: I don't know what I did but I'm an angry now and just want my money out. I'll withdraw, and be done with it Response: Withdrawal sits for weeks with repeated request for more documentation of proof of ownership of the account being withdrawn into, which I provided Action: I call support again to figure out why my withdraw is taking so long. Response: It looks like they haven't taken a look at your documentation, but we'll get them right on that Action: More time passes, so I complain on Reddit Response: Support contacts me and tells me to reach out to them directly Action: I reach out and explain what's going on Response: Support forwards my email to Customer Relations, who quickly got back to me Action: Customer relations seems super helpful, friendly and proactive and said they would get someone on the case immediately Response: I receive an email from Sofi tell me my account is under "Investigation" and that it could take up to 60 days to resolve Action: Angry and confused, I reach out again stating I had done nothing wrong, don't understand why I'm under investigation and inquire about the reason. A few days pass and in spite of the investigation, I assume it will all turn out fine since I had done nothing wrong, so I log in to find my account balance is now at $0 (previously $48). Now REALLY angry and confused I reach out again to Customer Relations. Response: Sofi Customer Relations tells me my account is closed, for some rule I violated (but refuses to tell me what rule I broke) and that I will no be able to open a new account in the future. I absolutely did not break any rules. The only thing I did was get 3 referrals in one day (completely honestly, no self dealing, no cheating). This is a blatant response to me getting referrals and attempting to withdraw funds w/o actually spending anything at Sofi. They simply don't feel the need to pay me for referring customers and not depositing funds of my own (as far as I can tell since they won't tell me anything).


17 November, 2021


The absolute worst experience

The absolute worst experience. This company does not offer any forbearance, And when you ask to speak to a supervisor there is mysteriously none available. The company has no heart, And I would highly recommend either citizens Or upgrade if I was seeking a loan.


16 November, 2021


Stay away

Stay away. I set up my account with SOFI because I could do crypto and regular investments. But once I switched over my regular investments things went to hell. For some reason my account was not fully transferred or closed so a block was placed on my account. Attempts to add more funds resulted in deposits remaining as “scheduled” for weeks after the date it was supposed to be credited. I had to cancel it myself just to make sure it would not transfer funds I had allocated elsewhere. Then I called customer service at least three times. Was told there was a block and they would remove it. This never happened. Then when an IPO I wanted to purchase was available, I was able to put in my request, but again I could not add funds to cover,it. I called again, was told I should have been transferred to another department to get this fixed. Was told it would not be fixed by the date to get the IPO. So I lost out…the IPO Has since tripled in value. My account is still blocked. I tried to open an IRA, and that deposit is “stuck” too. So at this point I can’t withdraw or deposit into my crypto, active investment, or IRA accounts. Long story short…they are cost me to lose money.


10 November, 2021


NOT Recommended

Closed my account and took all the currency in the "money" , the samsung visa. I ivested 200 in investments section and that also was deleted. SoFi tells me I have no accounts, when I literally have their black credit card in my person.


09 November, 2021


The dropped the ball on my deposit, missed opportunity

They sent me an email to take part in an IPO. I signed up, setup a deposit. The deposit didn't go through because of a problem on SoFi's end. When I called them, after an hour on hold, they said it was too late for the deposit to be processed so I could invest. They still could not answer why it was not processed for 4 days.


03 November, 2021


SoFi is making me wealthy

I have obtained 3 mortgages in the last 5 years. Two were from SoFi (one, a refi). The outstanding service drew my interest to their other offerings. My primary credit card is now a SoFi card, I do most of my banking and investing on SoFi. I was even introduced to crypto by SoFi. My initial meager crypto investments took off. I started paying attention. I researched and bought more crypto and other related stocks. My investments are exploding. Thank you SoFi for teaching me how to make money.


18 October, 2021


Supporting theifs & criminals

Sofi would be the worst company I've ever done business with, but Chime exsist, so sofi is the 2nd worst. Sofi does not honor any of their promises, offerings, or meet any expectations. Their debit cards don't require a pin to use, and when yours is stolen, they don't do anything to help you. They deny all disputes over $20, they don't offer any advice to help you, and will waste many hours of your time.


15 October, 2021


Disappointed 😞

Just a fyi....Sofi only honors loans for title 4 schools. What ever that mean??? My school was honored via federal and now in the private sector but not with this company!! For me an education loan is an education loan! Period!! Sick of the entitlement!!


12 October, 2021


Great customer service

Great customer service, really glad I switched to sofi


11 October, 2021


I had defended myself from 2 female …

I had defended myself from 2 female employees of SoFi stadium I kindly asked ", excuse me " twice as I was ignored. I tapped one of the ladies on the shoulder and once again said excuse me. I received a reaction of hostility and confrontational. "That my gesture was assault ". Loudly and embarrassing my family and I for trying to be as courtesy. When I go to a function that is family friendly I don't expect to be treated or threatened by the employees that your corporation have hired to represent their institution in this manner. I suggest you please express to your employees the importance of displaying a professional and courtesy behavior when addressing costumers.


11 October, 2021


Sofi UN-Transparent & Misleading

Sofi claims about helping people threw the Pandemic is a joke. As a member they go on and on threw out thier website claming to want to help people stuggling financial because of the Pandemic. Theses statements could not be farther from the truth as I have personally discovered as being a money member. I recived a SBA Economic impact loan and choose to have the funds deposited to my Sofi money account. Unfortunately that was a HUGE mistake. As I have learned they automatically reject any type of funds deposited threw the SBA. These false claims of being some sort of Covid 19 Pandemic advocacy are misleading and misguided. If they cared anything about how the Pandemic has affected anyone you think they would most certainly accept these type of funds to be deposited into thier members account. Not only are they immediately rejected ALL SBA FUNDS they do not even have the common curtsey to notify you that this has occurred. In the meantime your just waiting and waiting for funds you desperately need and have been hoping for months already because of the lengthy timeline it takes to have your application appoved. I defentinly feel the Sofi needs to be direct and be transparent to not only members but also potential consumers who might be thinkig about opening up an account with Sofi. Transparency is key to any successful finacial institution in building a secure and positive reap our. Also in finding out about my rejected deposit. I could not even been giving any explanation as why this is the common practice for deposits made from the SBA.


01 October, 2021


Never got direct deposit bonus.

Never got direct deposit bonus.


22 September, 2021


Terrible outfit

Terrible outfit - I receive a pension from the federal government. I went on line to pull up the statement they provide me every year. I was asked to send it directly from the website. Then they didn’t like the format. It had to be on a government form. I explained that I couldn’t provide something that didn’t exist. This is what I am provided to complete my tax return. No way to get that thought across. Basically I guess they were telling me that somehow I was coming up with this info. It was directly sent from the Office of Personnel Management. They are illogical idiot’s!


14 September, 2021


SoFi sucks big time!!

In less than a week after joining SoFi, they lost me money. And you have to cross through a whole minefield of idiotic questions to get a human on the phone. Then they lock up my money for a week before I can withdraw it. What a piece of crap outfit. Stay away from them. Stay far far away.


12 September, 2021



To be honest, I can give a zero review if possible. The call attendant I was dealing with at SoFi stopped responding. I was unable to get the student loan I want to refinance. Email is rarely responsive with SoFi--limited hours and very long waits (I guess they don't actually want to assist anyone financially) AVOID!! Use a trusted broker PLEASE..


08 September, 2021


Great service staff from SoFi

I had a bit of a rough start with SoFi, which was immediately remedied by their support staff, namely Quanitra. After an initial denial on a bonus offer for a Memorial Day promotion, Quanitra of the support team walked me through what documentation steps were needed to get the claim corrected. After about three days, she personally reached back out and confirmed that my claim was approved. I appreciated the entire service experience. So far, SoFi has been a good lender with a lot of add ons that have made my personal loan experience very favorable. I would recommend SoFi.


06 September, 2021



To be honest, I can give a zero review if possible. Customer service is terrible. The customer service I was dealing with at SoFi stopped responding, at some point she used curse words for me. It took me about more than 6 weeks to reach anyone else at SoFi. My money went deep into the hole i cannot imagine. I couldn't sleep for weeks. I was unable to access the account after what was supposed to be an easy transfer from another financial institution. Email is rarely responsive with SoFi--only phone or chat, with very limited hours and very long waits (I guess they don't actually want to assist anyone financially). What a waste of effort! AVOID!! Use a trusted brokerage.


29 August, 2021


SoFI is a liar and looters broker

First of all I'll let you know that sofi is a liar and looters broker company and there nothing is free and they will never let you to earn money


28 August, 2021


Customer service nightmare – don't get stuck with these guys for 2 years +

The application process was easy, then it sat "in review" for two and a half weeks. Normally I'd just wait, but every time I called someone said something new was the issue and some mysterious "engineers" I wasn't allowed to talk to were fixing a system error that never got fixed. I finally pulled my application because I was pretty sure no one knew what was going on or how to fix it. Enormous waste of time and energy. Don't let the low rates fool you. Terrible and unhelpful customer service.


28 August, 2021


I refinanced my home loan through sofi…

I refinanced my home loan through sofi & honestly it was a breeze. From beginning to end. I was able to shorten my loan 5 years & got a great APR. I’d definitely recommend their service.


16 August, 2021


I applied for a small personal loan on…a roof.

I applied for a small personal loan on July 20, 2021. After waiting about 10 days and several calls during that time I was told to reapply because it was "stuck". I reapplied and the same things is happening. I am about to lose my quote I got for my roof, good for 30 days. I am afraid to apply to other places and mess up my credit. I am all around stuck and have yet to hear anything. I am so frustrated.


11 August, 2021


Sofi Lies and seems to lack financial Integrity in sticking to their advertised promotions

Thanks for participating in the SoFi Money referral promotion! Hi Richard, We appreciate your participation in the SoFi Money referral promotion and are happy that you’re sharing SoFi with your friends and family. We wanted to let you know that due to overwhelming demand, as of 6:45pm PT on August 9, 2021 the SoFi Money referral promotion has ended and no further referral rewards will be issued. THIS IS A LIE,HERE IS THE PROMO STILL ACTIVE sofi com/referral-program/ Great news - you can still participate in our monthly sweepstakes to win up to $10K!1 Each time you spend on your SoFi Money card you'll earn an entry into the sweepstakes - and we'll give you 3X entries every month you receive a direct deposit. Learn more Thank you for being a SoFi member! chat bubble Have questions? Contact us mobile phone Download the SoFi app SoFi Money®️ is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates is a bank. SoFi Money Debit Card issued by The Bancorp Bank. 1 NO PURCHASE NECESSARY TO ENTER OR WIN. Void where prohibited. Open to legal residents of the 50 U.S. or DC, and legal age of majority before time/date of entry. Ends 12/31/21. For Official Rules & complete details, click here. This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. You can find additional information regarding SoFi Securities LLC and its registered persons at FINRA’s website. The firm reserves the right to monitor and retain all incoming and outgoing communications as permitted by applicable law. SoFi Securities LLC values your privacy and the security of your personal information so please do not include your social security number in any email or letter that you send to us. You received this email because you registered at Click here to unsubscribe from all SoFi marketing emails. Or click here to manage your email preferences. Legal | Privacy | Contact Us SoFi. 234 1st Street, San Francisco, CA 94105 © 2021 Social Finance, Inc. All rights reserved. W:444959 R:1754000


02 August, 2021


They are doing so well and I have seen…

They are doing so well and I have seen so much progress over time. They have new partnerships and have pushed their rank up into the top spots in Fintech. Loving the app and loving the support they have been so helpful.


17 July, 2021


Where are the warm and fuzzies?

I'd love to know how i sent a request for a different routing number, because several different companies have rejected the one showing on my account, i believe they are looking for the one from the bank that you took over. Anyway i requested help and instead of help i got a flyer for how great direct deposit is. Was that a joke? Also i keep receiving email after email about the $20 just for checking my rate on a loan. I did it like three times now and have never received it. Most recently you take $51.00 put in my account in good faith because i challenged a crypto exchange that clearly did not provide the services promised, it couldn't get any clearer, i paid for $50 worth of crypto, the website froze up and i never received the crypto, i mean how much clearer could you get? Now my account is negative. The icing on the cake? The method i used to bring my account up to good standing a mobile check (because they're an online bank how else can I deposit a check) and they hold it for 7-10 business days, like I'm some scab off the street. Jeez Sofi you know how to make a guy feel all warm and fuzzy. Maybe it's a good thing that i haven't changed over my direct deposit. This is turning out to be an unreliable bank. In fact depending on what you show me for proof of taking my money, and responses on the rest of my concerns i may be closing this account.


13 July, 2021


SOFI a good loan platform but no longer a friendly trained staffm but only

I have had several personal loans and always on time or paid early. SOFI has grown alot and they no longer provide rhe personal service and only approves loans if ypu have a high score, they have lost the one on one client relationstip they once had with their clients. They do have an excellent platform but only high scoring clientele.


09 July, 2021


5+ months to rollover IRA and still not done.

Seems like the company has no idea how to rollover. Our attempt to rollover IRA is now 5+ months and we don't even get 'sorry' for their screw up. They kept blaming their clearing house for failure on the transfer but looks like this is not the company to trust your money with. Stay away from IRA deposits because there's no guarantee when you'll get your money back or transferred.


26 June, 2021


Great company

Good and reliable company.


23 June, 2021


Sofi is Wonderful

I Love sofi ! Much much and much better than Robinhood. Sofi has a lot of futures and feels much safer than you know who. The only thing I ask from Sofi is that if you guys can have automated daily recurring investing possible because weekly prices drop or rise and when I work I can’t always be on my phone. So having it invest daily alone would help me. Overall Best Investing App there is and I love Sofi !!


11 June, 2021


SoFi apparently a scam

Recently signed on with SoFi through a promotion where the prize was up to $100 in investment. Well, I signed up and ‘bam’ won $100! I put it toward a stock then completed my registration. I thought it was odd I wasn’t asked to upload copy of ID as I have done on my other investment sites. The next day, an email saying my identity could not be verified and to try registering again (so that’s what happens to $100 winners) I called SoFi customer ‘no-service’ and was told by what sounded like a bored slacker teenager that ‘yeah, like, your identity couldn’t be verified and try again later’ I replied, yes, that’s what the email said...verbatim, so I’m calling to, like, see how to verify my identity? I won a $100 and it’s be nice to have that working In an investment account,. Long story short, after two more times of reading the email back to me, Napoleon Dynamite finally said the $100 was null and void but he’d refer to a manager and then hung up...of course no call from manager or email follow up So if you ‘win’ $100 from SoFi as part of a promotional deal, don’t get too excited. I currently have two other online investment accounts that I’ve had no problems with and who were able to ‘verify’ my identity without any issue. SoFi seems to me to be like the shady used car lot that advertises too good to be true deals just to get you on the lot. Well, they got my info so I’m sure I’ve already been sold to numerous spammmers and advertisers, I can’t believe I fell for the SoFi Scam!


05 June, 2021


Honest Company. They don't always have the best rate

They don't always have the best rate, but they are very honest about the rates they quote. We have two student loan accounts and a mortgage through SoFi because they were the all-around best offer. Other products did not make the cut, but they did not try to mislead us.


27 May, 2021


Zero Stars!

Update! Sofi really is trash. For the second time Sofi denied my application, but this time because “terms could not be offered”. Whatever the hell that means. Earnest, on the other hand, approved my student loan refinance AT A BETTER RATE than Sofi was offering. Trash! (Start of OG review-> Really, Sofi should be getting 0 stars. This is seriously insane. I applied to refinance my student loans and was denied because they "Could not verify my Identity". You see, I was the victim of identity theft a few years ago, so I do have a freeze on my credit which I had temporarily lifted for the credit check. I was told that although they were able to pull my credit (836!) there was not a phone number on my Experian. I needed to contact them to have a phone number added and reapply (BTW, Experian also gets 0 stars.) I did that after many attempts to actually getting to a person and added a fraud alert layer on top of my freeze that had my phone number. Fast forward to the last few days of hell. They are still saying that because Experian doesn't have my phone number (which they do) there is nothing they can do without it. This is insane. It's not even a real loan where I get money and then pay it back. I want you to give money to this other company so that I can lower my interest rate ffs!!!! Do you really think an Identity Thief is going to go through the trouble to fake being me so that I save money on existing student loans??? Sofi and Experian have revictimized me all over again.


08 May, 2021


Account is blocked

Account is blocked. No idea why. Have bee trying to reach customer support or fraud dept as instructed. 3 days of attempting. No human to contact only leave voice mail for call back. 3 days no callback despite multiple calls. Sunnary: customer support is noteworthy for there being no customer support. It is impractical to have an account at a place where you cannot reach either customers support or even the fraud department


27 April, 2021


Physicians beware

I am afraid I had quite the awful experience with this lender and I would encourage physicians and independent contractors to steer clear. As an attending physician I get paid several different ways but primarily my income is through a 1099 as an independent contractor. I recently purchased a new house and decided to refinance my student loans at the same time, since I would have all my up-to-date financial paperwork at my fingertips anyways. Unfortunately, after starting the application process my rate was significantly increased because my income could not be “verified.” SoFi clearly thinks I can repay the loan, since they still offered me one, I just do not qualify for normal rates. This is despite producing two years worth of tax returns (2019 and 2020) supporting my income and a signed letter from our office manager with my stated guaranteed income. After going back and forth with customer service for 13 days I was finally put in contact with an account specialist. They informed me that the only way I would qualify for their initial offer was if I could produce two years worth of End Of Year paystubs (the W2 was not sufficient). So, if you are a physician/independent contractor you will not qualify for their advertised rates unless you can also produce End Of Year paystubs, even if you have over 2 years worth of tax returns confirming you income. If you don’t happen to have End Of Year paystubs do not even bother checking your rate, it won’t be honored anyways. The real salt in the wound was being approved for the mortgage (which is twice the amount of the student loan I am refinancing) with the same documentation and half the hassle. If you have ever purchased a house, think back on your mortgage application. Remember the frustration and headache? Now double it and you have an idea of what dealing with SoFi has been like. If you are a physician/independent I would strongly recommend looking elsewhere. I know that is what I will be telling the medical students and residents that rotate through my clerkship when they ask about student loan refinancing.


21 April, 2021


Wow what a waste of time

Wow what a waste of time, they pre-approved me with no problem, got all my information, made me fill out all this extra paperwork and then denied the loan anyway. I have extremely good credit, I wouldn’t waste my time dealing with them. Empty promises


21 April, 2021


Tried signing up for investing and…

Tried signing up for investing and their identity verification system can't verify me. That's fine. Robinhood had no issue with my identity, nor did Square Cash, which also offers stock options. Thank you very much for the wasted time! You get this review in return. Cheers :)


26 February, 2021


Account opening takes ages

Applied for an account almost two weeks ago in Hong Kong which hasn’t been open yet. It says at the beginning of the process that it can take a few business days, but I had no idea it would take SO long. They also requested a minimum deposit of 10,000HKD, which I have no idea when I’ll see the sign of. Sounds like a total scam!! In the meantime I managed to open accounts with two other brokers... If I managed to get this account finally open I’ll take my money out and close it immediately. What a lack of respect and waste of time.


23 February, 2021


Stay away from this app

Stay away from this app, they made me lost almost 3000 usd by their “system problems”, hope you guys see this before download this app


13 February, 2021


Rejected me because of the Patriot act

Rejected me because of the Patriot act? Racist I have been to peaceful BLM protest and signed some petitions


05 February, 2021


Amateur Hour

I applied for a refi and it was a disaster. The staff was a game of musical chairs.They didn't know much. They pre-approved me, took $500 for an appraisal and then the fun began. It was like dealing with fools. I gave up trying to educate them, went to my credit union and funded a month later. Stay away from these amateurs.


19 January, 2021


SoFi negative customer service.

Spoke to an account specialist today regarding my loan refinance. Asked to speak to manager was told by account specialist that it would not be allowed. Asked why? Told because I have answered your questions and queries. I let her know that I still wanna speak to manager to explain my point of view. Then she began to speak loudly telling me no she could not let me. Who does this? I came off working in ICU and did not wanna be treated negatively. Would recommend laurel road for refinancing your loan, this is to all my resident medical docs out there. Honestly those guys were more receptive and offered better promotions. Also when asked to speak with manager they did patch me through.


18 January, 2021


It was my first time to apply to Sofi…

It was my first time to apply to Sofi and gotta say the experience was bad. After filling out all the information about yourself, they will start contacting you for more info one by one. This took months! I had a credit over 800 and don’t understand why they need to take that long to process. The loan amount was only about 12k. Save yourself time by applying personal loan to companies that actually looks at your credit score.


21 December, 2020


Good but always out to gain your money

They are great if you simply want to pay your loans and have straight forward options. If you need anything complicated, please do not use them. Also remember if you need to pay off your loan (and the mail is late), they will make sure to collect all interest on the loans if the payoff check is late. They will not backdate to the payoff date.


24 November, 2020


I have been a SOFI customer for years, but no more

I have been a SOFI customer for years and had always received great service when refinancing my law school loans and using their investment platform. That all came to a screeching halt when I went to get a mortgage. I went through the application process providing all of the documentation needed to approve my loan. I have nearly perfect credit, a high salary career, and plenty of money saved for a down payment so the process was super first. Once I decided to put an offer in on a house, I was forced to interact with Alice Tirrell who was my assigned loan officer. She repeatedly issued preapproval information and discussed my home purchase without ever mentioning that fact that a) apparently she had never actually moved my application forward for underwriting; b) because she had failed to do her job, SOFI would need additional time to underwrite the loan and appraise the house. Once I finally was under contract on my home and reached out to finish the process, she straight up told me that she couldn't help and I should go elsewhere. Apparently there was not enough time between my contract and closing dates since she had dropped the ball earlier and not processed everything that needed processed. I, understandably, was irritated because I had already provided all of my documentation and had been working with SOFI for months with ZERO mention of any of these issues. She refused to let me speak with her supervisor, continued to deny my requests to process the loan, and kept simply telling me to go elsewhere. Luckily, I had the credit and financial resources to easily find another mortgage company who was happy to have my business, but I am still appalled at the level of incompetence and poor customer service from Alice Tirrell. She is easily the worst service provider I have ever worked with (and I have had Comcast cable for years)! SOFI, if I were you, I would fire Ms. Tirrell and spend some resources trying to find loan officers who are competent at basic tasks and can conduct themselves in a minimally professional way.