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SoFi vs LendingClub: Personal Loans Compared
Compare SoFi and LendingClub personal loans for debt consolidation. See rates, fees, requirements, and which lender is right for you.
Update, September 2026: LendingClub's personal loans are now offered under the Happen Bank name at happen.com. As of 20 September 2026 its site lists loans of $1,000 to $75,000, APRs of 5.96% to 35.96% and an origination fee of 0% to 8%. SoFi's current rates and fees could not be re-verified on that date; check sofi.com before applying. The comparison below reflects each lender's positioning; treat every rate and fee as a range to confirm on the lender's own disclosure.
SoFi
Suits: Borrowers with good credit who want no fees and extra perks
Upsides
- +No fees whatsoever
- +Unemployment protection
- +Member benefits & career coaching
- +Fast funding (same day possible)
- +High loan amounts up to $100K
Downsides
- –Requires good credit (680+)
- –No co-signer option
- –Limited physical presence
LendingClub
Suits: Borrowers with fair credit who need flexible options
Upsides
- +Accepts lower credit scores (600+)
- +Joint applications allowed
- +Direct creditor payment option
- +Flexible loan amounts
Downsides
- –Origination fee (0% to 8%, per Happen Bank, September 2026)
- –Slower funding (3-5 days)
- –Higher rates for fair credit
Our take
SoFi is better if you have good credit and want no origination fee. LendingClub is better if you have fair credit or need a joint application.
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