Sofi Personal Loan gets you up to $100.000

Are you preparing for a home renovation or for some expensive health procedures? In that case, a personal loan could certainly come in handy. But most options are quite limited, they go up to $40.000 or $50.000, which might just not be enough. 

That’s why Sofi Personal Loan is such a great choice. It shines when it comes to maximum loan amount and payment term. This means that you can get up to $100.000 with low interest rates and also some perks that help you become better financially educated. 

However, there are some limits when it comes to a personal loan. You won’t be able to invest in either real estate or other investment options, such as shares and even cryptocurrency. It can’t be used for education related spending either, so you won’t be able to consolidate student loans with it. 

As always, we strongly recommend you have a clear goal before applying for a personal loan. The money can help you save up a lot when it comes to paying off credit card debt, for example. But it can also make your financial life more complicated than necessary. 

Are you ready to find out more about Sofi Personal Loan, including how to apply? Keep reading and understand everything about it. 

How does Sofi Personal Loan work? 

Sofi Personal Loan is quite conventional for its kind. The main difference comes in how much you can borrow, that goes from $5.000 to $100.000, a lot more than your usual personal loan. 

That comes with its pros and cons. Some of the regular loans can have interest rates as low as 4,99%, but don’t get even close to $100.000 for you to borrow. Which doesn’t mean that the minimum 7,99% APR is high, it’s a lot lower than what you’d get from a credit card, for example. 

Advantages of using Sofi Personal Loan

There are some pros of using Sofi Personal Loan, such as:

• Allows you to repay credit card debt; 
• Prequalification process happens with a soft check on your credit score; 
• High loan amounts combined with lengthy payment terms; 
• No fees; 
• Funding happens in up to two days;
• Unemployment assistance in case you need it. 

How to qualify?

The qualification process for Sofi Personal Loan starts, actually, with a prequalification form that you must fill out with some personal info on their website. You’ll need: 

• ID (social security number, driver’s license or passport); 
• Income verification; 
• Proof of address. 

In case you get an approval and choose to proceed, there’ll be a hard check on your credit score for the final approval.