SoFi versus Prosper

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Vs.
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Introduction

• In the US, several lenders offer the loan to the
  borrowers at an effective rate some lenders
  require good credit score against the loan, and
  some demand the credit score less than 500.
• In this field, two leading lenders offer salient
  services apart from the Personal loan, and the
  lenders are Prosper and SoFi.
• If you are pondering and looking for the
  solution, then you have landed on the right
  place, as here you will find the key differences
  between them, which will help you to choose the
  one.

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The Key Factors Which Separate SoFi And Prosper
Apart - I

• Credit Score
• The SoFi retains the credit score at 680, and the
  borrowers who have the score more than 700 are
  eligible for the loan. The APR of the SoFi lies
  in the range of 5.99 to 16.24 and the SoFi
  personal loan fee, lies in between 5,000 to
  100,000 and the period for the loan is 24 to 84
  months.
• The minimum credit score of the Prosper is 640
  and the APR lies in the range of 6.95 to 35.99.
  Well, the best part of Prosper is that it is peer
  to peer lender, means it comprises individual as
  well as the companies. The Prosper personal loan
  fee ranges from 2,000 to 40,000, and the period
  for the same varies from 36 months to 60 months.
• In this section, the credit score of Prosper is
  less, so if your loan amount lies in the range,
  then you can go with the Prosper or else you can
  go with the SoFi if you match the APR and the
  loan amount.

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The Key Factors Which Separate SoFi And Prosper
Apart - II

• Originating Fee
• SoFi Personal Loan is exempted from the
  originating fee and late fee.
• However, Prosper retains the originating fee and
  the range lies in between 2.4 to 5.00 against
  the loan amount.  On the off chance, if the
  scheduled payment is failed, then 15 will be
  charged. Prosper personal loan also includes the
  late fee and the time frame is the delay of 15
  days, and the chargeable amount is 15.  

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The Key Factors Which Separate SoFi And Prosper
Apart - III

• Online Methodology
• Both the lenders prefer the quick work and hence,
  kept the entire process online. This process
  reduces time and paperwork. However, if you wish
  to go with the SoFi, then keynote to figure out
  is the rate, SoFi interest rate is available in
  the process, and you can check the same amid
  filling the application form.
• In case, of Prosper, the process is a bit lengthy
  as it undergoes with three verification process
  and the Prosper Loan rate is also available in
  its official website, and you can choose the
  desired loan after matching the rate.

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SoFi Personal Loan Vs. Prosper Personal Loan

• SoFi offers a low-interest rate as compared to
  the Prosper.
• SoFi rating is A and Prosper rating is A.
• SoFi offers additional benefits, such as 7-year
  term option for a loan, but Prosper does not
  offer the same.
• SoFi provides the loan to the US borrower who is
  employed, but if you lose your job after the
  approval of the loan, then you dont have to get
  worried as SoFi also offer the unemployment
  insurance.  However, Prosper offers the loan to
  the US citizen and this is the only eligibility
  criteria of the Prosper.

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Conclusion

• SoFi is the best option for a personal loan.
• If you need to know more about the services of
  both the lenders, then you can go with the review
  part which will give you the info and the
  experience of the borrowers.

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? ? ? Thank You !!! ? ? ?