Weekend Loan Approvals: Sofi's Lending Availability

SoFi, or Social Finance Inc., is an online financial company that offers lending, investing, personal banking, insurance, and more. They offer personal loans ranging from $5,000 to $100,000, with quick disbursement—often on the same day as the application. While SoFi does not explicitly mention approving loans on weekends, their customer support specialists are available on weekends from 5:00 a.m. to 5:00 p.m. PT to assist with checking and savings products, personal loans, and student loans. This availability suggests that they may process loan applications and approvals during weekends. However, for support with home loans, specialists are unavailable on weekends, indicating that home loan approvals may not occur during weekends.

SoFi's customer support availability

SoFi, short for Social Finance Inc., is an online financial company that offers lending, investing, personal banking, and insurance services. The company provides customer support for its various products and services, with specialists available through different channels and at different times.

Customer Support Availability

SoFi offers customer support through various channels, including telephone, virtual chat, and email. The availability of support specialists may vary depending on the specific product or service in question. Here's a breakdown of SoFi's customer support availability:

• Credit Cards: SoFi provides 24/7 telephone and virtual chat support for its credit card products. Customers can get assistance with credit card-related queries at any time, day or night.
• Checking and Savings Products: Support specialists are available from 5:00 a.m. to 7:00 p.m. PT, Monday through Thursday, and from 5:00 a.m. to 5:00 p.m. PT on weekends. This includes assistance with checking and savings accounts, as well as general banking inquiries.
• Personal and Student Loans: Specialists for personal and student loans are available during the same hours as checking and savings product support. So, if you have questions about applying for or managing your SoFi loan, these are the hours to reach out.
• Home Loans: Home loan specialists have more limited availability, operating from 6:00 a.m. to 3:00 p.m. PT, Monday through Friday. They are closed on weekends, so keep that in mind if you need assistance with a home loan application or related matter.
• SoFi Invest: For those using SoFi Invest, specialists are available from 5:00 a.m. to 5:00 p.m. PT, Monday through Friday. Unfortunately, support is not available on weekends for this particular service.

In addition to these specialist support teams, SoFi also offers a 24/7 virtual chat assistant. This chatbot can provide basic assistance and help direct you to the right resources outside of regular business hours. SoFi also has a mobile app available on the App Store and Google Play, which customers can use to track account balances, set savings goals, and manage their finances on the go.

SoFi's personal loan approval time

SoFi, short for Social Finance Inc., is an online financial company that offers personal loans ranging from $5,000 to $100,000 to help cover personal expenses such as weddings, travel, and home improvements. The company also offers student loan refinancing for federal and private student loans. SoFi's personal loan approval time can be as fast as the same day, with 82% of applicants receiving their funds on the same day if they sign the agreement before 7 p.m. ET on a business day. However, if the application process is completed after 7 p.m. ET or on a non-business day, the funds will be received the next business day.

To ensure a quick loan approval process, it is important to provide accurate and complete information. Inaccurate or incomplete information can delay the process. The required information includes basic personal details such as address, social security number, and date of birth, as well as proof of income, such as pay stubs. Credit requirements depend on the lender, with most lenders preferring good to excellent credit scores. However, some lenders cater to borrowers with fair or poor credit as well.

SoFi offers relatively low-interest rates, a straightforward application process, and borrower-friendly features like flexible repayment options. They also provide a 0.25% interest rate discount for borrowers who enroll in autopay. Additionally, SoFi does not charge any account fees, including overdraft fees, ATM fees, or monthly maintenance fees. SoFi's customer support specialists are available to assist with personal loans on weekdays and weekends, making the loan approval process convenient and efficient.

SoFi's personal loan funding time

SoFi, short for Social Finance Inc., is an online financial company that offers personal loans ranging from $5,000 to $100,000. These loans can be used to cover personal expenses such as weddings, travel, and home improvements. SoFi also offers student loan refinancing for federal and private student loans.

Regarding funding time, SoFi is known for disbursing personal funds quickly. 82% of personal loan applicants receive same-day funding if they sign their agreement before 7 p.m. ET on a business day. If the deadline is missed, the funds are typically received the next day.

SoFi's customer support specialists are available to assist with personal loans and student loans Monday through Thursday between 5:00 a.m. and 7:00 p.m. PT, and on weekends from 5:00 a.m. to 5:00 p.m. PT.

Overall, SoFi is a reputable lender with fast funding times, making it a convenient option for those seeking quick access to funds for personal or student loan needs.

SoFi's home loan approval time

SoFi, or Social Finance Inc., is an online financial company that offers lending, investing, personal banking, and insurance services. The company provides customer support for its home loan services from Monday through Friday, from 6:00 a.m. to 3:00 p.m. PT, and is closed on weekends.

To be eligible for a SoFi home loan, borrowers must meet specific conditions, including closing on a new purchase mortgage by a specified date and ensuring that the interest rate for the loan is at least 1% less than the original purchase loan at the time of refinancing. It is also recommended to establish direct deposit into a SoFi Checking/Savings account before the approval of the home loan application to qualify for the SoFi Plus Member discount.

While SoFi does not specify whether loans are approved on weekends, their customer support hours for home loans are limited to weekdays. Therefore, it is likely that loan approvals also adhere to this schedule.

SoFi's student loan interest rates

SoFi, short for Social Finance Inc., is an online financial company that launched its Student Loan Refinancing program in 2012 for federal and private student loans. The company offers variable-rate loans and fixed-rate loans.

Variable-rate loans

SoFi's variable-rate loans for 5, 7, and 10-year terms are capped at 13.95% APR, while 15 and 20-year terms are capped at 13.95% APR. The current index rate for these loans is 4.36% and may change monthly. The current index for variable-rate loans is derived from the 30-day average SOFR index, so changes in the SOFR index may cause your monthly payment to increase.

Fixed-rate loans

SoFi's fixed-rate loans range from 8.99% APR to 29.49% APR and reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount.

Interest rates

SoFi offers a 0.25% interest rate discount for borrowers who enroll in autopay and have monthly principal and interest payments automatically deducted from their savings or checking account. This benefit will be suspended during periods of deferment and forbearance. Additionally, SoFi offers a 0.25% direct deposit discount for borrowers who have their loan refinance application completed by September 17, 2024, and receive direct deposits of at least $1,000 every 30 days to a Direct Deposit Account.

The final interest rate you receive will depend on a variety of factors, including the term of the loan, your creditworthiness, income, and other factors. Not all applicants qualify for the lowest rate, and the lowest rates are reserved for the most creditworthy borrowers.

Frequently asked questions