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SoFi Review | The TRUTH About SoFi

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Published on Sep 6, 2018

Sofi Reviews

In this video I will be giving a review on Sofi since I just applied and received a Sofi personal loan.

To begin with Sofi is a modern finance company that offers many different types of loan products such as student loan refinancing, mortgages, and personal loans. It was founded by Stanford graduates in 2011 in response to the student loan crisis although they offer an array of loan products, not just student loan refinancing.




The criteria that Sofi looks for loan eligibility include that you must have graduated from one of the 2000 plus accredited universities, having good credit, a good monthly cash flow, and you must be at least 18 years of age. This is unlike other online lending companies such as Lending Club, Prosper, and others that will require tax returns, bank statements and many additional pieces of information.

So far Sofi has done over 7 billion dollars worth of loans so you know they are not playing around and have received rave reviews.

Overall the best things I liked about Sofi are listed below:

1. Lower overall interest rate. In comparison to other sites like Prosper and Lending Club and banks the interest rate I got for a personal loan (about 10%) was significantly lower than the competitors.

2. Customer service. The customer service with Sofi I found to be unusually good. They were very responsive via their chat service or you could call them. As we all know talking with banks or lenders is not always the easiest thing to do however I found them to be very helpful. Their customer service is also available 7 days a week unlike a bank.

3. Largest loan amounts. In comparison to other personal loan sites, Sofi offered the largest amount (up to 100K) for a personal loan which would be unheard of with Prosper or Lending Club.

In terms of student loans you can refinance with much lower interest rates, lower monthly payments, consolidate several loans, as well as get a new loan servicer.

Some other cool things about Sofi is that the members get career support, there is an Entrepreneur program, networking events, unemployment insurance, and other features that make it really stand out.

If you purchase anything through a link anywhere in this video or in the description or comments, you should assume that we have an affiliate relationship with the company providing the product or service that you purchase, and that we may be paid in some way. We recommend that you do your own independent research before purchasing anything

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Thank you for watching this video on my Sofi Review

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