SoFi
Learn more
in our Bankrate review
Bankrate’s view
SoFi offers prequalification in just 60 seconds with no impact on your credit score. You may receive your loan on the same business day if you’re approved before 7 p.m. ET. Along with its simplified application process, SoFi also extends other perks to its customers, including free access to career education resources, rewards and financial planning. You can get a small interest rate discount for opting into autopay.
Pros
- No origination fees
- Quick prequalification
- Multiple rate discounts available
Cons
- Relatively high starting APR
- Requires good to excellent credit
- Cosigners not accepted