Our selections for the best personal loans have competitive interest rates, quick funding, and positive borrower reviews.
Credible
Credible is an excellent choice because of its free online marketplace, where borrowers can submit one application and compare actual offers from multiple lenders.
By comparing rates and terms in one location, borrowers can ensure they choose the best personal loan offer while avoiding having to submit one application for each lender.
Credible’s platform also caters to a diverse range of credit profiles, making it a terrific option for those with bad to excellent credit. The ability to view customized loan options based on one’s unique financial background makes Credible a standout choice in the personal loan market.
- Compare prequalified rates from multiple lenders
- No application or origination fees
- Checking your rate doesn’t affect your credit score
- Only shows offers from its partners
| Rates (APR) | 6.99% – 35.99% |
| Loan amounts | $600 – $200,000 |
| Repayment terms | 1 – 10 years |
LightStream
LightStream offers competitive APRs on its personal loans, as well as large loan amounts of up to $100,000. Depending on your loan type, you could choose a loan term of two to 12 years, a range that gives you plenty of flexibility to repay your loan.
LightStream is unique for its Rate Beat Program. If you find a better rate on an unsecured personal loan from another lender, LightStream will beat it by 0.10 percentage points. LightStream also caps its rates much lower than most other personal loan lenders.
However, you should be confident in your credit score and income before applying. Unlike most other lenders on our roundup of the best personal loans, LightStream does not allow you to get prequalified. This means you can’t find out if you’re likely to get approved—you’ll need to apply, which means a hard inquiry on your credit report.
SoFi
SoFi is an online lender that provides personal loans from $5,000 to $100,000. Along with fast approval and no fees required, you can get a 0.25% reduction on your interest rate if you sign up for automatic payments on your loan.
- Funds available as soon as the same day
- Pays off credit card issuers and adds a 0.25% rate discount
- Check your rate without affecting your credit in 60 seconds
- A high minimum loan requirement of $5,000
| Fixed rates (APR) | 8.99% – 29.99% with all discounts |
| Loan amounts | $5,000 – $100,000 |
| Repayment terms | 2 – 7 years |
Upgrade
Upgrade is a solid choice for fair-credit borrowers. This lender will also fund personal loans starting at $1,000, which could appeal to borrowers seeking a low loan amount. Upgrade can fund your loan within one business day of verifying your application.
However, all Upgrade personal loans have a one-time origination fee between 1.85% and 9.99% of the amount borrowed, which represents the cost to underwrite the loan. This cost is factored into your overall APR, reflecting fees and interest rates.
- Review multiple loan options to choose your best terms
- Funds are available in as little as one day
- Accepts joint applications
- Check your rate without affecting your credit
- Charges an origination fee of 1.85% to 9.99%
| Rates (APR) | 8.99% – 35.99% |
| Loan amounts | $1,000 – $50,000 |
| Repayment terms | 2 – 7 years |
Upstart
Upstart accepts borrowers with credit scores of 300—the lowest possible. Upstart offers prequalification online, so you can check your rates with no impact on your credit score.
Rather than just credit score, Upstart uses an artificial intelligence-powered alternative lending model to determine whether you qualify for a loan. Upstart relies on a variety of factors to assess your finances and make an approval decision.
Upstart may charge an origination fee for your personal loan, as much as 12% of the amount borrowed.
- Funds can be available as soon as the next day
- Check your rate without affecting your credit in 5 minutes
- Charges an origination fee of up to 12%
| Rates (APR) | 7.80% – 35.99% |
| Loan amounts | $1,000 – $50,000 |
| Repayment terms | 3 – 5 years |
Happy Money
Happy Money offers an unsecured personal loan called the “Payoff Loan.” Happy Money’s Payoff Loans can help you consolidate and pay down credit card debt.
Depending on your preference, you can ask Happy Money to pay your creditors or deposit your loan in your checking or savings account. Happy Money designed its loans to pay off credit card debt.
- Choose your terms, pay-off date, and monthly payment
- Can pay off credit card companies directly
- Check your rate without affecting your credit
- A high minimum loan balance of $5,000
- Funds can only be used to pay off credit card debt
| Rates (APR) | 12.45% – 17.99% |
| Loan amounts | $5,000 – $40,000 |
| Repayment terms | 2 – 5 years |
Best Egg
Best Egg offers unsecured and secured personal loans up to $50,000. Its secured loans are available to homeowners. Unlike a home equity loan, which your home secures, items in your home secure a Best Egg loan. These include light fixtures, cabinets, and vanities.
According to Best Egg, qualifying homeowners can take out a secured loan in 24 hours without completing additional paperwork. Whether you’re opting for an unsecured or secured loan, Best Egg lets you check your rates online without impacting your credit score.
- Possibility to receive lower rates than with an unsecured loan
- Funds are available in as little as 24 hours
- Check your rate without affecting your credit
- Requires you to secure your loan with personal items in your home
- An origination fee of 0.99% to 9.99%
| Rates (APR) | 7.80% – 35.99% |
| Loan amounts | $1,000 – $50,000 |
| Repayment terms | 3 – 5 years |