Rick Bormin, Personal Loans Moderator
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To apply for a SoFi personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for a SoFi Personal Loan
- Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a SoFi personal loan. It doesn't hurt your credit. You can check for pre-qualification on the SoFi website or WalletHub's pre-qualification tool.
- Enter your personal information on the application. SoFi requires the following personal information on the application: your loan amount, loan purpose, date of birth, housing situation, citizenship and Social Security number.
- Enter your financial information on the application. SoFi requires the following financial information on the application: your preferred monthly payment and annual income.
- Double check the application for accuracy. To ensure that your SoFi personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
- Submit your application. SoFi will typically provide a decision on your application within 2 to 4 business days.
If you are approved for a SoFi personal loan, you will generally receive the funds within 4 to 11 days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.
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