SoFi offers Personal Loans up to $100,000, but only to those with a $45,000 annual income and 680 Credit Score. If you need a Smaller, more Flexible Personal Loan than the Check City Personal Loan might be right for you!
Loans comes with their own requirements and so do you as a loan customer! Every loan is going to come with different costs and benefits, so it’s important to do a bit of loan shopping and research before you make your final choice. That way you can get the loan that makes the most sense for your own personal needs.
SoFi Personal Loans: A Quick Look
A personal loan from SoFi can be anywhere from $5,000 to $100,000 with an APR range between 5.99% and 20.01%. SoFi personal loans don’t have any fees outside of their interest rates and you can pay back your loan in 2 to 7 years. SoFi even offers personal loans for students to refinance their college debts.
Maximum Personal Loan: $100,000
Minimum Personal Loan: $5,000
Rates: 5.99% to 20.01% APR
Fees: no origination fee, no prepayment fee, no late fees
Terms: 24 to 84 months (2 to 7 years)
When: 1 to 7 business days
Basically, the SoFi personal loan is a larger loan with a longer payment term. The Sofi personal loan is most commonly used to pay off credit cards, invest in home improvements, moving costs, medical bills, student loans, and other larger purchases. They also offer a fixed payment plan.
Who are SoFi Personal Loans Perfect For?
The SoFi personal loan is great if you need to consolidate large debts with high interest rates. It’s also a good loan if you need a larger loan for things like major home improvements or college tuition. If you need a much larger loan and you meet the below requirements, then this loan may be perfect for you.
- If you have a credit score of 680 or higher
- If you need a large loan amount
- If you want a longer loan term
- If you already have a SoFi account
Who Should NOT Get a SoFi Personal Loan?
If the items mentioned above don’t work for you, or you just need a quicker, smaller loan then the perfect loan option for you is still out there. If the items listed below better suit your loan wants and needs then you might want to consider coming to Check City as your personal loan provider.
- If you need a smaller loan
- If you want to finish paying back the loan in 6 months
- If you don’t already have a SoFi account
- If you need funds fast
- If your credit score can’t afford a hard credit pull
SoFi Personal Loans Pros and Cons List
|Fixed rates and monthly payments||Hard credit pull that will affect your credit score|
|You can get a larger loan up to $100,000||You need a 680 credit score or higher|
|They have zero fees for their loans||Can take up to 7 business days to receive funds|
|Need an annual income of at least $45,000|
An Alternative to SoFi Personal Loans
Check City offers a unique loan solution than other loan providers. SoFi personal loans may not meet your requirements as a loan customer and in that case you can check out the Check City personal loan! It might be exactly what you’re looking for.
Reasons to Get a Check City Personal Loan:
- The straightforward service of a direct lender
- The safety of a state licensed lender
- A fast and easy application process
- You don’t need a high credit score to apply
- There are no origination fees
- You don’t have to wait, you can get your loan TODAY
- You can pay back your loan in as little as 6 months
How to Apply for a Check City Personal Loan
The Check City Personal Loan application is fast and easy to do. All you have to do is visit the Check City Personal Loan Page. From there you can quickly fill out the application on the side of that webpage. You can also find a nearby Check City store to apply or give us a call to apply over the phone if either of those options works better for you.
What You’ll Need to Apply:
- A government ID
- Proof of bank account
- Proof of direct deposit
- Proof of income
- A valid phone number
Or call Check City’s Loans By Phone number: 800-404-0254
The online application for a Check City Personal Loan is incredibly easy to do, but if you want your funds even sooner, you can apply in the store and get your personal loan funds the SAME DAY! Our personal loans work well for anyone who needs a fast, small loan that you can finish paying off in just 6 months rather than years.
Check City Personal Loans are also a helpful option for anyone with a low credit score, or who can’t afford a hard pull on their credit score right now, because we don’t pull a traditional credit report when processing a loan application. If this personal loan option sounds right for you, don’t hesitate to give us a call, visit our website, or visit our stores and get your funds now.
LOAN COMPARISON CHART
|Check City Personal Loans||Discover Personal Loans||Wells Fargo Personal Loans||Chase Auto Loans||Bank of America Auto Loans||Capital One Auto Loan||SoFi Personal Loans|
|Amount||$300 to $3,000||$2,500 to $35,000||$3,000 to $100,000||$4,000 to $600,000||min. $7,500||min. $4,000||$5,000 to $100,000|
|Rates||lower APR than our payday loans||6.99% to 24.99% APR||5.49% to 22.99% APR||depends||min. 2.99% to 5.99%||depends||5.99% to 20.01% APR|
|Fees||no origination fees||no origination fees, no closing costs||no origination fees, no prepayment penalties||depends||no application fee||depends||no fees|
|Terms||6 months||36 to 84 months (3 to 7 years)||12 to 84 months (1 to 7 years)||12 to 84 months||60 months depending||24 to 84 months||24 to 84 months|
|Min. Credit Score||Check City doesn’t pull a traditional credit check, and if you have a low credit score you can still apply for a Check City personal loan||660||600||high credit score||subject to credit approval||subject to credit approval||680|
When you think of loans you often think about the requirements you need to meet in order for your application to get approved. But you have loan requirements too! Everyone is looking for something different in a personal loan, like the ability to refinance the loan later, or the ability to get the loan right away. You can find all these key qualities with a Check City Personal Loan!
Whatever your own personal loan requirements might be, you should always study up on what features each loan provides before making a choice.
Learn more about the usefulness of loans, “The Usefulness of Loans from Large to Small.”
Budget like a boss by reading, “Budgeting in 4 Easy Steps.”
*The information found in this article comes from the lenders’ websites and NerdWallet reviews at the time of posting.