SoFi and LightStream are known for offering personal loans of up to $100,000, which you can use for just about anything — from paying for a wedding or consolidating debt, to making home repairs or covering medical bills. But which lender is right for you?
Below, we compare SoFi and LightStream personal loans, including fees, repayment terms, discounts and more, to help you decide which lender best fits your needs.
Lightstream vs. SoFi personal loans
LightStream Personal Loans offer low APRs, no fees and the ability to apply online. Its terms are as long as 20 years, or 240 months.
- Same-day funding available through ACH or wire transfer (conditions apply)
- Loan amounts up to $100,000
- No origination fees, no early payoff fees, no late fees
- LightStream plants a tree for every loan
- Requires several years of credit history
- No option to pay your creditors directly
- Not available for student loans or business loans
- No option for pre-approval on website (but pre-qualification is available on some third-party lending platforms)
No origination fees required, no early payoff fees, no late fees
- No origination fees required, no early payoff fees, no late fees
- Unemployment protection if you lose your job
- DACA recipients can apply with a creditworthy co-borrower who is a U.S. citizen/permanent resident by calling 877-936-2269
- Can have more than one SoFi loan at a time (state-permitting)
- May accept offer of employment (to start within the next 90 days) as proof of income
- Co-applicants may apply
- Applicants who are U.S. visa holders must have more than two years remaining on visa to be eligible
- No co-signers allowed (co-applicants only)
Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
APR
The APR on SoFi's personal loans currently ranges from 6.99% to 35.49%, including a 0.25% autopay discount and a 0.25% direct-deposit discount. LightStream's APRs currently start at 7.24% and go as high as 25.39%, including its 0.50% autopay discount.
So while LightStream's starting APR is slightly higher than SoFi's, its maximum APR is significantly lower. The rate you qualify for ultimately depends on factors including your credit profile, loan amount and repayment term.
For both lenders, you can earn an APR discount by signing up for automatic payments, though LightStream's 0.50% autopay discount is larger than SoFi's 0.25% discount.
Loan amount
Both LightStream and SoFi offer personal loans of up to $100,000, so you can tackle high-cost expenses like a home renovation or wedding. Both also have a minimum loan amount of $5,000.
Fees
SoFi takes a somewhat unusual approach to origination fees. While you don't have to pay an origination fee, you may have the option to pay one in exchange for a lower interest rate. The amount your rate could be reduced varies by offer. SoFi also doesn't charge prepayment penalties.
LightStream doesn't charge origination fees or prepayment penalties, making it a fee-free option for borrowers who qualify.
Term length
LightStream is known for offering longer repayment terms than many other lenders, with terms ranging from 24 to 240 months, depending on the loan type — or up to 20 years. SoFi offers personal loan terms of up to seven years, or 84 months.
Key features
LightStream can get you funded the same day if you review and electronically sign your loan agreement, provide your deposit account information and complete the final verification process by 2:30 p.m. ET on a business day. The same-day funding option makes it a strong choice if you need your loan quickly.
LightStream also offers a way to save on interest with its Rate Beat program. If you're approved for a lower rate on an unsecured loan from a competing lender with the same loan terms offered by LightStream, LightStream will offer a rate that's 0.10 percentage points lower. You must be approved for the competing offer no later than 2 p.m. ET two business days before your loan is funded.
SoFi also offers same-day funding. Most borrowers receive their funds the same business day if their loan is approved and they sign their loan agreement by 5:30 p.m. ET on a business day.
If you've previously borrowed from SoFi and have paid off your personal loan, you may be eligible for Returning Borrower Pricing on a new personal loan. SoFi also offers a 0.25% interest rate reduction to borrowers who, within 31 days of funding, either become a SoFi Plus member, receive an eligible direct deposit into a SoFi Checking or Savings account or receive at least $5,000 in qualifying deposits into a SoFi Checking or Savings account. You must continue to meet at least one of these requirements every 31 days to keep the discount.
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Which is right for you?
LightStream and SoFi are fairly comparable: Both offer personal loans of up to $100,000, don't charge prepayment penalties and offer ways to lower your interest rate. But if a longer repayment term is most important to you, LightStream may be the better choice. Depending on the loan type, LightStream offers terms of up to 20 years, compared with up to seven years with SoFi. LightStream also has a lower maximum APR, which could be an advantage for borrowers who qualify for rates toward the higher end of each lender's range.
SoFi is still an appealing option if you're eligible for one of its interest rate discounts, including discounts available to returning borrowers and customers who meet certain SoFi account requirements.
Ultimately, choosing the right lender comes down to how much you need to borrow, the cost of the loan, the repayment terms and how the monthly payment fits into your budget. Longer repayment terms generally mean lower monthly payments, but you'll pay more in interest over the life of the loan. Shorter terms typically mean higher monthly payments but less interest paid overall.
Alternative lenders for small funding amounts
SoFi and LightStream both have minimum loan amounts of $5,000. If you need to borrow less than that, consider lenders like Upstart or PenFed Credit Union. Upstart offers personal loans starting at $1,000, although minimums vary by state. You don't need to already be a PenFed member to apply for the credit union's personal loans.
Upstart offers accessible personal loans for people with fair or average credit.
- Accept applicants with low or no credit
- No early payoff fees
- Most loans funded the next business day
- High late fees
- Origination fee of 0% to 10% of the target amount
- $10 fee for paper copies of loan agreement
PenFed is worth considering if you have good-to-excellent credit and want a straightforward personal loan with competitive rates and few fees. We like that you don't have to be a PenFed member to apply — you can join during the application process.
- Approves loans as small as $600
- Membership available with a $5 deposit in a savings account
- Can pick up a physical check at a branch
- Can apply with a co-borrower
- Maximum loan amount is $50,000
- Generally need good to excellent credit
- Most physical branches are in D.C., Maryland and Virginia
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