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There are several reasons why you might be denied a personal loan, ranging from a lower credit score or income than required to incorrect information on your application. No doubt about it, though: Being denied for a denied personal loan can add stress to your life when you expect money to come through.

Follow this guide to understand why personal loans are rejected and how to help improve your approval odds in the future.

Why Was My Personal Loan Rejected?

Here are some common reasons financial institutions reject personal loan applications. Any one of these, or a combination of factors, could lead to a personal loan application being denied.

•   Low income: Lenders may worry about your ability to repay a loan if your income is too low. However, most lenders don’t publish their requirements, nor do they always set specific cutoffs. In other words, it can be hard to know what earnings you need to show to secure a personal loan.

•   Variable income: If you don’t always have a predictable income (as may be the case with entrepreneurs, freelancers, and seasonal workers), a lender might also have concerns about your ability to repay your loan.

•   Unsteady work history: Another reason that lenders may feel you are not a good candidate for a personal loan is if you are in and out of the job market. For instance, a person who has been steadily employed at $60,000 per year could be perceived as more credit-worthy than someone who earned $100,000 for one year, was unemployed for six months, and then employed at $65,000 for nine months.

•   Low credit score: Your credit score can be one of the most important factors on a personal loan application. A poor credit score (below 580) can mean you’ve had difficulty repaying your loans on time (or at all) in the past, so a lender may deny your personal loan application. (Or, if approved, you may wind up with a higher interest rate on your loan than someone with a stellar score.) You can see if a prospective lender shares what credit score you need for a personal loan before applying to save time and energy.

•   High debt-to-income ratio: Your debt-to-income (DTI) ratio is the amount of debt you carry relative to your income. You can determine yours by adding up all your monthly debt payments and dividing that by your monthly income. Multiply that number by 100 to see if it comes in at no more than 43%, which many lenders use as a qualification. The lower your number, the better.

•   Incorrect application information: Your application may include erroneous information, such as accidentally mixing up digits on an account number. This might be an easy fix when you reapply for your personal loan.

•   Not meeting lender requirements: It’s a good idea to ensure you meet all lender requirements before you apply for a personal loan, which at the basic level include having U.S. citizenship or permanent residency, government-issued ID, a Social Security number or individual taxpayer identification number, proof of income, and being at least 18 years of age.

•   Requested too much money: You may have requested more than the maximum amount your lender was willing to lend to you. They take into consideration the amount you can comfortably afford to repay based on your income and DTI.

•   Incomplete application: You may get denied simply because you didn’t complete your paperwork when applying for a personal loan. If so, next time around, consider going over your application extra carefully.

•   Loan purpose didn’t match lender criteria: Lenders often impose restrictions on how you use your loan. If you intend to use a personal loan as a student loan, for example, the lender may have restrictions against that and deny your loan application.

By the way, it’s worth noting that even if you were preapproved for a personal loan, you might still ultimately be denied. Here’s why: The preapproval process may not give your lender the full information they need to definitively approve the loan.

Recommended: Personal Loan Guide for Beginners

What to Do After You’ve Been Rejected for a Loan

If your personal loan application has been rejected, the lender must share what’s known as an adverse action notice, which reveals which information was used to make this decision. This can point you in the right direction about what may have triggered the denial and help guide you toward getting a personal loan in the future.

You might also check with your lender directly to find out why. If the rejection was due to an error on your application, you could potentially apply again and correct that mistake. (Check with your lender about any waiting period before reapplying.)

Can You Improve Your Loan Approval Chances?

If you were rejected for a personal loan, here are some ways you can improve the odds of being approved in the future.

Finding a Cosigner

Your lender may suggest you reapply within a short period of time with a cosigner. This would be someone with good credit who agrees to take ownership of the loan if you can’t repay it in full yourself. Keep in mind just what a big commitment this is for a cosigner: They must agree to be responsible for the debt if you default.

Checking Your Credit Report

Your credit report is a statement that contains information about your credit activity and reflects how well you’ve handled debt in the past. However, your credit report may contain erroneous information about your identity, account errors, debt duplication, and more.

You can get a free annual copy of your credit report from each of the three credit bureaus at AnnualCreditReport.com, by calling 877-322-8228, or via mail at Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. If you do find any mistakes, you can dispute them and potentially build your credit score.

Building Your Credit

If your credit score wasn’t high enough to qualify for a personal loan, you may want to check your lender’s requirements and reapply when you have a better credit score. There are several ways to build your credit:

•   Be meticulous about paying your bills on time.

•   Don’t apply for too many loans or credit lines in a short period of time.

•   Keep your DTI at no more than 43%, preferably lower.

•   Maintain credit accounts in good standing; length of credit history counts toward building your score.

•   Aim for a good credit mix. Having installment loans, say, as well as credit cards can help build your score.

Recommended: What Credit Score Do You Need for a Personal Loan?

When to Reapply for a Personal Loan

How soon you can reapply for a personal loan may vary depending on your lender and the reason why you were rejected. Some lenders may allow you to quickly reapply if you bring a cosigner on board, as noted above. Others may require you to wait up to 90 days before you apply again for a personal loan. Also, you may need to wait a period of time to, say, build your credit score to bring it in line with what a lender requires. That could take months.

Your lender can likely give you some suggestions about whether it makes sense to reapply quickly or wait a while.

Alternatives to Personal Loans

If you can’t get approved for a personal loan, here are some other funding sources to consider.

•   Credit cards: Credit cards are a definite alternative to personal loans, but if you don’t pay off your monthly balance, the interest rates are higher for these than personal loans. That could lead to you having significant credit card debt. Credit cards also work differently than personal loans; what you owe is based on the amount of credit you use and the interest charged, versus how a lump-sum personal loan is paid back.

•   Home equity loan: A home equity loan differs from a personal loan because you use your home equity (the difference between the home’s value and what’s owed on the mortgage) to secure the loan. This is critical to note: If you stop making payments, the lender can seize your home. In terms of how it works, you’ll receive the money in one lump sum and pay back principal plus interest monthly over the term of the loan.

•   Home equity line of credit (HELOC): A HELOC, just like a home equity loan, is secured by your home. However, it works like a credit card, allowing you to draw on your loan as much as you want through a withdrawal period. After that period, a HELOC enters the repayment phase.

•   Cash-out refinance: A cash-out refinance is a type of mortgage refinance that allows you to borrow more than you currently owe. You can take that difference in cash. Again, as with a home equity loan or HELOC, your property will serve as collateral. If you can’t make the payments, you could lose your home.

•   Peer-to-peer loan: These loans, which bypass traditional lenders, are also called “crowdfunding loans” or “social lending loans.” They differ from loans from financial institutions because multiple investors fund them. Peer-to-peer loans may offer an alternative to individuals who can’t get loans from traditional lenders. Some peer-to-peer lenders include Prosper and Upstart.

As you consider these options, it’s important to shop around and compare interest rates and repayment terms before you make a decision.

Recommended: Personal Loan Requirements to Get Approved

The Takeaway

If you’re denied for personal loans, it could be due to low or variable income, your credit score, or other factors. It’s important to consider your options, whether reapplying or finding an alternate source of funding, so you can find the best fit for your finances.

Shopping for a personal loan? See what SoFi offers.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

FAQ

Why do I keep getting denied for a small loan?

The reasons for a personal loan denial can vary. Low income, a poor credit score, and other factors may be to blame. Often, however, you can gain insight about why your application was not approved and then work to secure funding in the future. If you are applying often for various forms of credit, that could be one reason why lenders are wary.

How can I get a loan when I can’t get approved?

If you’ve been turned down for a personal loan, you might be able to bring on a cosigner and get approved. Or you could consider waiting and applying for a personal loan with a stronger application package. You can also seek a different form of funding, such as a home equity loan or a peer-to-peer loan.

How hard is it to get a $30,000 personal loan?

You may qualify for a $30,000 personal loan if you meet the requirements, which often include having a credit score of at least 580 to qualify and above 700 for more favorable terms.

Photo credit: iStock/Milan Markovic

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOPL-Q324-009

You may think of a bank as simply a safe place to put your money. But banks do a lot more than accept deposits. They also extend loans, facilitate payments, exchange currency, set monetary policy, and provide a range of other financial services to individuals, businesses, and governments. Here are key things to know about banks, including how they work, how they make money, and the different products and services they offer.

What Is a Bank?

By definition, a bank is an institution that accepts deposits in checking and savings accounts and makes loans. In serving both functions, banks act as intermediaries between depositors (who essentially lend money to the bank) and borrowers (to whom the bank lends money). The money the bank pays to depositors and charges on loans is called interest.

Banks also offer a range of other financial products and services, including:

•   Credit cards

•   Investment accounts

•   Wealth management services

•   Individual retirement accounts (IRAs)

•   High-yield savings accounts

•   Certificates of deposit (CDs)

•   Money market accounts

•   Currency exchange

•   Safe deposit boxes

Banks also facilitate payments — from employers to employees, buyers to sellers, and taxpayers to the government — and play a major role in the nation’s economy. There are also many different types of banks, including retail banks, corporate banks, and central banks.

How Do Banks Make Money?

Banks typically generate revenue through a variety of channels. These include:

•   Interest on loans: Banks lend money to individuals and businesses at higher interest rates than what they pay on deposits, earning the interest rate spread.

•   Fees: Banks may charge fees for various services, including account maintenance, overdrafts, wire transfers, and out-of-network ATM usage.

•   Investment income: Banks may invest in securities, bonds, and other financial instruments, earning returns on these investments.

•   Interchange fees: When customers use their debit or credit cards, banks earn fees from merchants processing the transactions.

A Brief History of Banks

The concept of banking dates back to ancient civilizations, when temples were used as safe places to store valuable items and grain, and priests would lend these resources to local farmers and merchants. The temples were also responsible for keeping records of these transactions, laying the groundwork for bookkeeping.

The first modern banks emerged in Renaissance Italy, with institutions like the Medici Bank setting the standard for banking operations. Over centuries, banks evolved, expanding their products and services and adopting technological advancements to meet the growing demands of consumers and businesses. Today, banks are integral to the global economy.

Modern Bank Products for Consumers

Modern banks offer a variety of products tailored to meet the financial needs of consumers. Common banking products include:

Loans

Banks provide various types of consumer loans, such as mortgages, personal loans, and auto loans. These loans help individuals finance large purchases and manage their cash flow.

Savings and Checking Accounts

Savings and checking accounts are fundamental banking products. A savings account is designed to hold cash you don’t need right away and allow you to earn interest and grow your money over time.

Checking accounts are set up to offer easy access to funds for everyday transactions. They come with checks and typically a debit card that can be used for purchases or to withdraw funds at an ATM. Checking accounts generally earn little or no interest, though some banks now offer high-yield checking accounts.

Mortgages

Banks offer mortgage loans to help individuals purchase homes. These long-term loans typically come with fixed or variable interest rates and generally require you to use the property being purchased as collateral for the loan. Mortgage terms are typically 15, 20, or 30 years.

Investing Accounts

Many banks offer investment accounts, including IRAs and taxable brokerage accounts. These accounts enable customers to invest in stocks, bonds, mutual funds, and other financial instruments designed for long-term growth.

Credit Cards

Credit cards provide consumers with a revolving line of credit, allowing them to make purchases and pay for them over time. Banks earn interest and fees from credit card users, making it a significant revenue source.

Certificates of Deposit (CDs)

CDs are time deposits that offer a fixed interest rate for a specified term. You agree to leave your money in the account for a set period of time (which generally range from three months to five years). In return, these accounts typically pay a higher interest rate than a standard savings account.

Money Market Accounts

A money market account is a hybrid account that offers competitive interest on your balance, along with the conveniences of a checking account, such as a debit card and checks. However, you may be limited to a certain number of withdrawals per month. Some money market accounts also have minimum balance requirements.

Useful Bank Features

In addition to products, banks offer various services to help customers manage their money. Here are some features you may want to look out for when exploring different bank options.

Customer Support

Banks typically offer customer support through various channels, including phone, email, online chat, and in-person assistance. Whether you need assistance with your checking account or help choose between two banking products, a customer service rep can generally point you in the right direction.

Credit Score Checkers

Many banks offer tools that allow customers to monitor their credit scores for free. This service allows you to stay informed about your credit health and, if necessary, take steps to build your scores. Having strong credit can help you unlock credit cards, mortgages, and other types of loans with attractive rates and terms.

ATMs

Whether you open an account at a traditional brick-and-mortar institution or an online-only bank, you’ll typically have access to a wide network of fee-free automated teller machines (ATMs). This allows you to withdraw cash or make deposits without needing to visit a branch during business hours.

Online/Mobile Banking

Online banking and mobile banking apps allow you to monitor your accounts, transfer money, pay bills, and deposit checks from your computer or mobile device.

Financial Planning Tools

Many banks offer financial planning tools that help customers budget, save, and invest wisely. These tools can include calculators, goal-setting features, and personalized financial advice.

Bank Regulations

While banks are typically privately owned entities that must answer to their shareholders, banking is a highly regulated industry. Regulatory bodies, such as the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC), oversee banks’ operations, ensuring they adhere to laws and maintain sufficient capital reserves. This is to minimize disruptions and ensure the U.S. banking system runs smoothly.

The majority of U.S. banks are also insured by the FDIC. This covers deposit accounts up to $250,000 per insured bank, per depositor. Co-owners of joint accounts at the same bank are typically each insured up to $250,000. The agency’s BankFind site can help you identify FDIC-insured banks throughout the country.

Types of Banks

There are several different types of banks, each serving different purposes and customer bases. The large global banks often operate separate arms or divisions for each of these categories.

Retail Banks

Retail banks focus on individual consumers, rather than businesses or other banks. They provide personal banking services, such as checking and savings accounts, personal loans, mortgages, auto loans, short-term loans like overdraft protection, and credit cards. They may also offer access to investment products, such as mutual funds and IRAs.

While some retail banks offer in-person services through brick-and-mortar locations, others operate exclusively online. Due to lower overhead costs, online banks tend to offer higher yields on savings accounts and charge lower (or no) fees.

Recommended: What Is Neobanking and How Does it Work?

Corporate Banks

Corporate banks (also known as commercial banks) cater to large businesses and corporations. They also serve government agencies and institutions like colleges and universities. Along with business checking and savings accounts, these banks offer business loans and lines of credit, letters of credit, payment processing, foreign exchange transactions, and more for their clients.

Investment Banks

Investment banks serve as intermediaries in large, complex financial transactions. They specialize in initial public offerings (IPOs), raising capital, facilitating mergers and acquisitions, and providing advisory services to corporations and governments. Unlike retail banks, they do not take deposits from or provide loans to the general public.

Central Banks

Central banks manage a nation’s monetary policy, regulate the banking industry, and act as a lender of last resort. The central bank in the U.S. is the Federal Reserve (a.k.a, “the Fed”). The Fed sets the federal funds rates, which impacts everything from the annual percentage yields (APYs) you earn on savings accounts to the interest rates you pay on credit card balances and loans. Unlike the banks types listed above, central banks do not deal directly with the public.

Pros and Cons of Banks

Retail and commercial banks offer myriad benefits, but they also have some downsides. Here’s a look at how the pros and cons stack up.

Pros

•   Safety: Banks provide a secure place to store money, reducing the risk of theft or loss. Deposits in most banks are federally insured (up to certain limits), which means that even if the bank were to fail, customers will still recover their funds, up to the insured limit.

•   Convenient access to funds: Banks offer easy access to funds through a network of branches, ATMs, and digital banking platforms.

•   One-stop shop: Banks provide a variety of financial services beyond basic checking and savings accounts, allowing you to manage all aspects of your finances under one roof.

•   Regulatory protection: Banks are heavily regulated by government agencies. These regulations protect consumers from fraud, ensure the safety of deposits, and promote ethical banking practices.

Cons

•   Fees: Banks often charge fees for their services, including fees for account maintenance, overdrafts, and wire transfers.

•   Low interest rates: Many banks offer relatively low interest rates on savings accounts and other deposit accounts. These rates often fail to keep pace with inflation, which can diminish the purchasing power of your savings over time.

•   Complex fee structures: The complexity of bank fees can create confusion for customers and result in unexpected expenses.

•   Potential for poor customer service: Large banks may offer impersonal or poor customer service due to their size and scale.

Banks vs Credit Unions

While banks and credit unions offer similar financial services, there are key differences between them. Here’s a closer look:

Ownership

Banks,typically, are owned by shareholders and operate for profit. Credit unions, by contrast, are owned by their members and operate on a not-for-profit basis. The main goal of a credit union is to benefit its members.

Fees and Interest Rates

Credit unions often offer lower fees and better interest rates on loans and savings accounts compared to traditional banks, as they are not driven by maximizing profits.

Membership

Banks are open to the general public. Credit unions require membership, which may be based on specific criteria such as employment, geographic location, or affiliation with a particular organization.

Customer Service

Credit unions tend to provide more personalized customer service due to their smaller size and member-focused approach. While small banks can also offer personalized customer service, larger banks may lack the personal touch.

Getting Started Banking With SoFi

A bank is an excellent resource to help manage your money. You can deposit funds for safekeeping, manage everyday spending, and invest for the future. Understanding the products, services, and perks offered by different banks can help you find the institution for your needs.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How do banks make money?

Banks primarily make money by lending out deposits at higher interest rates than they pay to depositors, earning the interest rate spread. They also earn money from the fees they charge for account maintenance, overdrafts, and transactions. Additionally, banks may invest in securities and earn returns.

Why do they call it a bank?

The term “bank” is thought to originate from the Italian word “banca,” which means bench or counter. In medieval times, moneylenders conducted their business on benches in marketplaces, and the term evolved to represent financial institutions.

What is a bank, simply put?

Simply put, a bank is a financial institution that accepts deposits and makes loans. Banks also play a key role in a nation’s economy, facilitating the management and movement of money for individuals, businesses, and governments.

Photo credit: iStock/Pgiam

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2024 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

SoFi members with direct deposit activity can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.

As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.00% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.