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MoneyLion vs SoFi

MoneyLion is a costly credit builder loan with membership fees and high APRs. How does it compare to SoFi? Read our comparison chart below.

 MoneyLionSoFi
 Learn MoreLearn More
 

MoneyLion

SoFi

SPECIAL OFFER
Up to $500 Instacashâ„  advances - Learn More

Read MoneyLion Review

OFFER
Refinance Student Loans - Learn More

Read SoFi Review

 

Benefits and Features

Savings 
Up to 4.60% APY
CD 
N/A
Checking 0.50% APY on checking balances with direct deposit activity or qualifying deposits
Mobile App
Yes
iOS & Android
 

CreditDonkey® Reviews

 MoneyLionSoFi
Credit Building ToolsStarStarStarHalf StarEmpty Star
Credit Bureaus ReportingStarStarStarStarStar
FeesStarStarEmpty StarEmpty StarEmpty StarStarStarStarStarHalf Star
Mobile AppStarStarStarStarStar
Interest RatesStarStarStarStarHalf Star
EligibilityStarStarHalf StarEmpty StarEmpty Star
Pros & ConsPros:
  • Access your loan funds upfront
  • Reports to 3 credit bureaus
  • Free credit monitoring
Cons:
  • $19.99/month membership fees
  • Not available in all states
Pros:
  • Competitive, fixed rates
  • Low fees
  • No collateral
Cons:
  • Slower underwriting process
  • High standards for borrowers
Bottom LineCostly credit builder loan with membership fees and high APRs... Read full reviewPersonal loans with low APR and fees. Must have good credit to qualify... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Which is Better: MoneyLion or SoFi?

In short: SoFi's fees is noteworthy.


Articles on MoneyLion

MoneyLion Credit Builder Review

MoneyLion's Credit Builder loans can improve your credit in 12 months. But is it worth the price? Read on.

Apps Like MoneyLion

MoneyLion is a good app that offers a $500 cash advance. Not quite enough for you? Here are other similar cash advance apps to look at.

Articles on SoFi

SoFi Personal Loan

SoFi offers unsecured personal loans if you need to borrow money ASAP. But is it legit (or not)? Learn how SoFi personal loans actually work.

SoFi Bank Locations

SoFi is an online bank offering checking and savings accounts. But does it have physical branches? Keep reading to find out.

SoFi High Yield Savings Review

Want a high APY and easy access to your money? Get the best of both worlds with SoFi's Checking and Savings account.

SoFi Mortgage Review

Thinking about buying a home or refinancing your existing mortgage? Is SoFi a good online lender or should you stick with a traditional bank? Read on for the pros and cons.

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

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