Origination Fees:
We offer you the option to customize your loan to fit your needs. You can choose a loan with no origination fee, or you can opt for a one-time origination fee in exchange for a lower interest rate over the life of your loan.
If you choose the fee option, it’s simply included in your total loan amount — there’s no upfront or out-of-pocket cost.
Prepayment Penalty Fees:
SoFi does not charge Prepayment Penalty Fees, ever! You can make extra payments or pay your loan off early!
Please note: Additional payments are applied first toward fees and accrued interest, then toward the principal balance of the loan.
Late Fees:
SoFi Personal Loans funded on or after April 17, 2018 have zero late fees. Loans funded on or before April 16, 2018 are subject to late fees.
If your loan reaches 30+ days past due, it may be reported as delinquent to the credit bureaus.
Please also note the cut off time for same-day payments is 8:59 PM EST.
While we highly encourage you to make accurate and timely payments, if you’re worried about making your next payment, please reach out to us. We're here for our members, and we have a dedicated team ready to assist with these situations.
To Chat with SoFi, click here or call us at 855-456-7634 to speak with an agent.