Best Personal Loans With No Origination Fee in 2026
SoFi earns our top pick thanks to flexible pricing, rate discounts and added borrower perks
- Personal loans typically don’t carry out-of-pocket costs. Instead, lenders may keep a percentage of the loan as an origination fee. All of the lenders on this list are free from mandatory origination fees.
- It usually takes at least good credit to qualify for a no-fee loan (or a 670+ FICO Score).
- A no-fee loan isn’t guaranteed to save you money if it carries a higher APR. It’s important to consider all borrowing costs to find the best deal.
What is a personal loan origination fee?
An origination fee is an upfront fee that some personal loan lenders charge to cover overhead and loan processing costs. Most of the time, origination fees are a percentage of the loan amount, usually around 1% to 10%. Some lenders may charge a flat dollar amount, but this isn’t common.
While origination fees are referred to as “upfront fees,” you don’t usually have to pay them out of pocket. Instead, lenders usually deduct the applicable origination fee from the loan before sending the funds to you.
Imagine you are signing the loan agreement on a $10,000 loan with a 3% origination fee. In that case, the lender would deduct $300 from your loan to cover the origination fee and send you $9,700.
Credit score requirements for no-fee lenders
Lenders often offer no-fee options to attract lower-risk borrowers. Qualifying for a personal loan with no origination fee can be difficult due to higher credit score minimums and overall stricter underwriting standards.
Borrower requirements vary by lender, but expect to need at least good credit to qualify for a personal loan with no origination fee. The higher your score and the stronger your creditworthiness, the more likely it is that you can get a no-fee loan.
| FICO Score | Likelihood of qualifying for a no-fee loan |
|---|---|
| Very good to excellent (740+) | High |
| Good (670-739) | Moderate |
| Fair (580-669) | Limited |
To learn more about approval odds, check out our Average LendingTree Personal Loan Rates and Marketplace Data to explore real borrower data, including the average credit score for LendingTree users who received at least one offer.
| Lender | User rating | Best for | APR | Term | Amount | |
|---|---|---|---|---|---|---|
|
No-fee loans overall | 7.74% – 35.49% (with discounts) | 24 to 84 months |
$5k – $100k |
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|
No-fee loans for superior borrower experience | 7.99% – 24.99% | 36 to 84 months |
$2.5k – $40k |
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|
Small no-fee loans | 6.99% – 18.00% | 6 to 84 months |
$500 – $50k |
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|
No-fee loans for excellent credit | 6.49% – 24.89% (with autopay) | 24 to 84 months |
$5k – $100k |
||
|
No-fee loans with low rates | 6.09% – 17.99% (with autopay) | 12 to 60 months |
$600 – $50k |
Read more about how we made our picks for the best personal loans with no origination fee.
No-fee personal loan lenders at a glance
Best for: No-fee loans overall – SoFi
- APR
- 7.74% – 35.49%
Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 02/23/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions. Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.
- Unique optional origination fee structure may help you find the best deal
- Don’t need perfect credit to qualify
- Multiple rate discounts (autopay and direct pay, if consolidating)
- Same-day loans available
- Other perks, like free session with a financial planning professional
- Must borrow at least $5,000
- Not the lowest rates for excellent credit
SoFi’s origination fee structure is not like most other lenders.
Borrowers can choose to pay an origination fee of 0.00% – 7.00% (optional) to get a lower rate. Whether the fee is worth it depends on your personalized offers, but this flexibility helps SoFi stand out. If you qualify, you should get fee and no-fee offers so you can see which option works best for you.
No-fee personal loans can be hard to find if you have less-than-perfect credit, but SoFi’s credit score minimum is just 600. SoFi might also be a solid option if you need a quick loan. As long as you finalize your loan documents by 5:30 p.m. Eastern time, you could get your loan the same day you apply.
SoFi loans start at $5,000, so it might not be an option if you need a smaller loan. And while SoFi’s rates are generally competitive, borrowers with excellent credit might find a cheaper loan elsewhere if offered a higher annual percentage rate (APR).
You must meet these requirements in order to get a loan from SoFi:
- Age: Be the age of majority in your state (typically 18)
- Citizenship: Be a U.S. citizen, an eligible permanent resident or a non-permanent resident (a DACA recipient or asylum-seeker, for instance)
- Employment: Be employed, have a job offer with a start date within 90 days, or have regular income from another source
- Credit score: 600+
Best for: No-fee loans for superior borrower experience – Discover
- APR
- 7.99% – 24.99%
- Rated 4.9 out of 5 stars by LendingTree users
- U.S.-based customer service available seven days a week
- Payment assistance options available in case of financial hardship
- Need a higher credit score to qualify
- No joint loans
LendingTree users who have used Discover for a personal loan have given this online lender a nearly perfect customer satisfaction score of 4.9 stars out of 5. Discover also has repayment assistance for borrowers experiencing financial hardship. To discuss options, Discover’s customer service department is open extended hours, including nights and weekends.
At 720, Discover’s minimum credit score requirement is high compared to some personal loan lenders. Discover also doesn’t accept co-signers or offer joint loans, so you’ll have to qualify based on your own credit score and history.
You’ll need to meet these eligibility criteria to get a Discover loan:
- Age: Be at least 18
- Citizenship: Have a Social Security number
- Administrative: Have a physical address, email address and internet access
- Income: Minimum income of $40,000 (individually or as a household)
- Credit score: 720+
Best for: Small no-fee loans – First Tech Credit Union
- APR
- 6.99% – 18.00%
- Can borrow as little as $500
- Shorter repayment terms to match smaller loans
- Is a credit union, so rates are usually lower
- May still qualify with a lower credit score
- Must join the credit union (but becoming a member is easy)
If you need a small loan, First Tech Federal Credit Union may be worth considering. You have to borrow at least $1,000 with most lenders, but personal loans from First Tech Credit Union start at $500. It also offers loan terms as short as 6 months. Borrowing only what you need and paying it off as fast as you comfortably can will help you pay less total interest.
First Tech has physical branches in a few states but does business nationwide via its online platform. In addition to in-office appointments, members can contact customer service via live chat, video chat and phone. Becoming a member is mandatory to get a loan, but First Tech offers several pathways to join.
You must meet at least one of the following criteria to join First Tech:
- Work for a partnering employer
- Be related to a current First Tech member
- Live in Lane County, Ore.
- Become a member of the Computer History Museum or Financial Fitness Association (First Tech may pay for your first year of membership, and you don’t have to maintain membership to keep your First Tech account)
Best for: No-fee loans for excellent credit – LightStream
- APR (with autopay)
- 6.49% – 24.89%
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $25,000 loan at 6.49% APR with a term of 3 years would result in 36 monthly payments of $766.11. © 2024 Truist Financial Corporation. Truist, LightStream and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
- Consistently competitive rates
- Same-day loans available
- Could beat competing offer with its Rate Beat program
- Requires at least good credit to qualify
- Must borrow at least $5,000
- Hard credit hit required to check rates
Online lender LightStream (owned by Truist Bank) offers large no-fee personal loans with lower rates, an easy application process and the potential for a same-day loan. Plus, if a competitor offers you a lower rate, LightStream could beat it by 0.10 percentage points with its Rate Beat program.
LightStream doesn’t disclose its exact requirements, but it only approves borrowers with good to excellent credit. It also doesn’t allow you to check rates without taking a small, temporary hit to your credit with a hard credit pull.
LightStream doesn’t specify its exact credit score requirements, but you must have good to excellent credit to qualify. Most of the applicants approved by LightStream have the following in common:
- At least five years of on-time payments under a variety of accounts (credit cards, auto loans, etc.)
- Stable income and the ability to handle paying current debt obligations
- Savings, whether in a bank account, investment account or retirement account
Best for: No-fee loans with low rates – PenFed Credit Union
- APR (with autopay)
- 6.09% – 17.99%
- Very competitive rates for those who qualify
- Can check rates without impacting your score or becoming a member
- Accepts co-borrowers on joint loans
- Small loans available
- Must join credit union to get loan (but anyone can become a member)
- Might not qualify with bad credit
Credit union personal loans tend to carry lower rates, including PenFed. APRs start at 6.09%. Since PenFed Credit Union offers joint loans, you could add a co-borrower with excellent credit to help you qualify for lower rates.
Although its name may imply otherwise, PenFed Credit Union doesn’t require military or government affiliation to become a member. Anyone is eligible to join, and the membership and borrowing processes can be conducted entirely online.
To qualify for a PenFed loan, you must meet the following requirements:
- Membership: PenFed membership (anyone can join)
- Administrative: Open a PenFed savings account with $5 deposit; may need to submit documents to verify your identity and income
Is paying an origination fee ever worth it?
You can use a personal loan calculator to see if paying an origination fee is worth it.
Enter your loan amount, annual percentage rate (APR) and loan term. Then, calculate the total interest and add any origination fees. This amount shows how much the loan will cost you overall. When reviewing loan offers, compare the total cost of borrowing, not just the monthly payment.
Also, consider whether your original loan request will be enough after an origination fee, if the offer has one. You may need to ask for a larger loan to make up for the fee, so be sure to include this in your calculations.
It makes sense to avoid origination fees when possible, but you may miss out on a better deal if you only compare offers from no-fee lenders. If another lender has a lower APR, a loan with an origination fee can still end up cheaper overall.
How to compare personal loans with LendingTree
Based on LendingTree marketplace user data, borrowers who compare at least six personal loan offers and choose the one with the lowest rate can save $2,731 on average in total interest over a three-year term.
Many of our partner lenders offer no-fee loans — compare loan options easily and find the best deal with LendingTree.
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How we chose the best personal loans with no origination fee
We reviewed more than 40 lenders and loan marketplaces to determine the overall best personal loans with no origination fee. To make our list, lenders must offer personal loans with no origination fee and also carry competitive APRs.
From there, we assessed each lender or marketplace across four categories: eligibility and access; cost to borrow; loan terms and options; repayment support and tools.
According to our standardized rating and review process, the best personal loans with no origination fee come from SoFi, Discover, First Tech Federal Credit Union, LightStream and PenFed Credit Union.
Our categories
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are, based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings. Read more about our editorial guidelines.
Why trust our methodology?
Our writers and editors dig through the facts, contact lenders directly and even go through the application process ourselves if it helps better explain what you can expect. As a Certified Financial Education Instructor℠, I’m committed to breaking down complex financial details so people can make confident, informed decisions with their money.
Jessica’s experience in editing and financial education helps shape LendingTree articles that are clear, accurate and truly useful to readers. Her certification means our recommendations are built on a foundation of consumer-first financial knowledge — not just numbers.
Frequently asked questions
Personal loan origination fees tend to range from 1% to 10%, although not every lender charges them. Whether an origination fee applies also depends on your credit. In general, origination fees are more common and more expensive if you have bad credit, but a “good” origination fee depends on the lender and your individual credit profile.
Maybe. Some lenders — like SoFi, for instance — allow some borrowers to pay an origination fee in exchange for lower rates.
An origination fee may be worth paying if the loan’s APR is lower than competing no-fee loans. Borrowers should compare the total cost of borrowing, including interest and fees, to determine which loan is cheaper overall.
Use a personal loan calculator to see how much total interest you’ll pay on a loan. Then, see your estimated total cost of borrowing by adding any origination fees to that.