Aren't all lenders the same?
It's the 21st century, and SoFi embraces that. We have lower costs because we use technology to deliver financial services rather than having expensive brick and mortar branches like old-school banks. We also use non-traditional underwriting that helps us lend to specific borrowers who have defaulted at extremely low-rates. Finally, we're trying to build something big, like shake-up-the-whole-consumer-finance-industry big. So, we want to pass savings along to our Members and deliver a great experience so that they want to use SoFi for all their financial needs. All of these contribute to SoFi's low rates.