SoFi and LendingClub are two of the most popular personal loan lenders in the U.S. Both offer competitive rates and no origination fees, but they target meaningfully different borrowers. This comparison covers every key factor so you can choose the right lender for your situation.
Side-by-Side Comparison
The Verdict
Choose SoFi if: You have good to excellent credit (680+), want to borrow more than $40,000, need a longer repayment term, or want unemployment protection as a safety net. SoFi consistently offers the lowest rates for prime borrowers and has no origination fee.
Choose LendingClub if: Your credit score is in the 600–679 range and SoFi has declined you, or if you only need a smaller loan amount. LendingClub is more accessible for fair-credit borrowers, though the origination fee (3–8%) meaningfully increases your total cost.
SoFi Personal Loans — Full Review
SoFi is consistently one of the top-rated personal loan lenders for borrowers with good to excellent credit. The combination of no origination fees, high loan limits, and unemployment protection makes it the strongest all-around option for qualified borrowers.
Check Your Rate — No Credit Pull →LendingClub Personal Loans — Full Review
LendingClub is a solid option for borrowers with fair to good credit who may not qualify for SoFi. The origination fee is a meaningful cost to factor in — on a $10,000 loan at 5%, that is $500 added to your balance upfront.
Check Your Rate — No Credit Pull →Not sure which loan you qualify for?
Answer 3 questions and see your matched loan offers — no credit pull.
Frequently Asked Questions
Does SoFi do a hard credit pull when you apply?
Checking your rate with SoFi uses a soft credit pull and does not affect your credit score. A hard pull only occurs if you formally accept a loan offer.
What credit score do you need for SoFi?
SoFi does not publish a minimum credit score, but most approved borrowers have a score of 680 or higher. Income and debt-to-income ratio are also significant factors.
Is LendingClub legitimate?
Yes. LendingClub is a federally chartered bank (LendingClub Bank, N.A.) regulated by the OCC. It is one of the largest online lending platforms in the U.S.
Can I get a personal loan with a 600 credit score?
LendingClub is more accessible for scores around 600, though your rate will be higher. If your score is below 600, consider Avant or Upstart, which specialize in fair and poor credit borrowers.