Written by Amanda Push | Edited by Katie Lowery | Updated March 28, 2024
| Lender | User rating | Best for … | APR range | Loan amounts | Loan terms | Minimum credit score | |
|---|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Debt consolidation | 8.99% - 35.99% | $5,000 to $50,000 | 24 to 60 months | 620 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Quick funding | 8.99% - 35.99% | $2,000 to $50,000 | 36 to 60 months | 600 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Paying off credit cards | 11.72% - 17.99% | $5,000 to $40,000 | 24 to 60 months | 640 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Peer-to-peer lending | 9.57% - 35.99% | $1,000 to $40,000 | 24 to 60 months | 600 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Competitor rate matching | 7.49% - 25.49% (with autopay) | $5,000 to $100,000 | 24 to 144 months | Good to excellent credit | See Personalized Results |
 | User ratings coming soon | Military members | 8.99% - 18.00% | $250 to $50,000 | Up to 60 months | Not specified | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Small loans | 7.99% - 17.99% | $600 to $50,000 | 12 to 60 months | 760 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Joint applications | 8.19% - 24.74% | $1,000 to $35,000 | 6 to 60 months | Not specified | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Easy application process | 9.116% - 29.99% (with autopay) | $2,000 to $45,000 | 36 or 60 months | 640 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Zero required fees | 8.99% - 29.99% (with discounts)* | $5,000 to $100,000 | 24 to 84 months | 680 | See Personalized Results |
 | User ratings coming soon | High borrowing amounts | 7.49% - 23.24% (with discounts) | $3,000 to $100,000 | 12 to 84 months | Not specified | See Personalized Results |
Read more about how we chose the best lenders for excellent credit.
| APR: | 8.99% - 35.99% |
| Loan terms: | 24 to 60 months |
| Loan amounts: | $5,000 to $50,000 |
| Pros | Cons |
|---|---|
No prepayment penalties so you can repay the loan early May receive funds within 24 hours after approval Allows for co-applicants | Charges an origination fee of 1.99% - 6.99% Lack of transparency around specific eligibility criteria High minimum borrowing amount |
A personal loan with Achieve comes with a competitive APR starting at 8.99%, depending on your credit score, with payback terms of 24 to 60 months. Achieve personal loans also come with an origination fee of 1.99% - 6.99% of the loan amount.
Read our Achieve personal loan review.
| APR: | 8.99% - 35.99% |
| Loan terms: | 36 to 60 months |
| Loan amounts: | $2,000 to $50,000 |
| Pros | Cons |
|---|---|
Borrowers can prequalify for a loan Flexible when it comes to how borrowers can use loans Can receive funds in one to three days (half of borrowers receive it in one) | Does not offer joint applications Personal loans above $35,000 require a special offer code Charges an origination fee of 0.99% - 8.99% |
Keep in mind, however, that Best Egg does charge an origination fee (0.99% - 8.99%) that will come out of the total amount of your loan. If you’re approved for a Best Egg personal loan, it may take anywhere from one to three business days for your funds to be deposited.
If you’re approved for a Best Egg personal loan, it may take anywhere from one to three business days for your funds to be deposited.
You can use a Best Egg personal loan for a variety of purposes, including the following:
You cannot use a Best Egg loan to cover college expenses or purchase securities.
Read our Best Egg personal loan review.
| APR: | 11.72% - 17.99% |
| Loan terms: | 24 to 60 months |
| Loan amounts: | $5,000 to $40,000 |
| Pros | Cons |
|---|---|
No late payment or application fees Can be a more affordable alternative to credit card debt Transparent around eligibility criteria | Charges an origination fee of 1.50% - 5.50% Narrow limitations on how loans can be used Funding can take three to six days |
You can borrow between $5,000 to $40,000 with a minimum APR of 11.72%. Unfortunately, this lender sometimes charges an origination fee (1.50% - 5.50%).
You might have an excellent credit rating that beats Happy Money’s minimum requirement of 640, but it still requires a debt-to-income ratio of 50% or less. You need a good credit history of at least three years and no current delinquencies.
Read our Happy Money personal loan review.
| APR: | 9.57% - 35.99% |
| Loan terms: | 24 to 60 months |
| Loan amounts: | $1,000 to $40,000 |
| Pros | Cons |
|---|---|
Joint applications available Borrowing amounts are as low as $1,000 Can use personal loan for business purposes | APR can be steep Charges an origination fee of 3.00% - 8.00% Can take several days for loan to be funded |
When taking out a personal loan with LendingClub, keep in mind that it may take several days for your loan to be deposited into your account. This lender also charges an origination fee of 3.00% - 8.00%, whereas many other lenders skip this type of fee.
Read our LendingClub personal loan review.
| APR: | 7.49% - 25.49% (with autopay) |
| Loan terms: | 24 to 144 months |
| Loan amounts: | $5,000 to $100,000 |
| Pros | Cons |
|---|---|
Does not charge any fees Autopay discount of 0.50 percentage points Offers a Rate Beat program | No prequalification available High minimum borrowing amount of $5,000 Bad-credit borrowers won’t qualify |
Low interest rates are great for those who have excellent credit scores, but keep in mind that the interest rate quote it gives you is for its autopay program. If you don’t use it, you’ll have to add 0.50 percentage point to your quoted rate.
Besides your stellar credit score, you must also have a healthy credit history with major credit cards and some sort of other debt, such as a mortgage or car payment. You also need a bit of savings, too, whether you keep it in stocks or bonds or a savings account.
Read our LightStream personal loan review.
| APR: | 8.99% - 18.00% |
| Loan terms: | Up to 60 months |
| Loan amounts: | $250 to $50,000 |
| Pros | Cons |
|---|---|
No origination fee Flexible loan amount options Same day funding available | Must be Navy Credit Union member Must have military tie to be eligible No prequalification services |
While you won’t have to pay an origination fee when you take out a Navy Federal personal loan, this lender does not offer soft credit inquiries, so checking your rates may cause your credit score to dip slightly.
Read our Navy Federal Credit Union personal loan review.
| APR: | 7.99% - 17.99% |
| Loan terms: | 12 to 60 months |
| Loan amounts: | $600 to $50,000 |
| Pros | Cons |
|---|---|
Does not charge an origination fee Low minimum loan amount Can receive funds in one to two business days | Charges late fee of $29 Vague eligibility requirements Must become PenFed member in order to receive loan |
While you won’t have to worry about any origination fees with a PenFed personal loan, this lender does charge a late fee of $29 if you’re more than five days late on your payment. You don’t have to become a PenFed member in order to apply for a loan, but if you choose to proceed with the personal loan, you will have to become a member of the credit union.
Read our PenFed Credit Union personal loan review.
| APR: | 8.19% - 24.74% |
| Loan terms: | 6 to 60 months |
| Loan amounts: | $1,000 to $35,000 |
| Pros | Cons |
|---|---|
Flexible loan terms 0.25 discount points for borrowers who have a PNC checking account No origination fee | Vague regarding eligibility requirements Terms may vary depending on where you live Unclear on funding timeline |
However, PNC Bank is vague about some of its eligibility requirements as well as how long it may take for borrowers to receive their loan funds, while other lenders are more transparent. The availability and terms of PNC Bank personal loans are also limited on where you live.
Read our PNC Bank personal loan review.
| APR: | 9.116% - 29.99% (with autopay) |
| Loan terms: | 36 or 60 months |
| Loan amounts: | $2,000 to $45,000 |
| Pros | Cons |
|---|---|
Same day funding available Application process is easy and straightforward Offers autopay discount | Charges an origination fee Doesn’t offer many details into eligibility requirements Charges a $15 per occurrence late fee |
Keep in mind that if you take out a Rocket Loans personal loan, you’ll have to pay an origination fee that will come out of the total amount of the funds you receive. Rocket Loans also charges a $15 per occurrence late fee and a $15 Automated Clearing House (ACH) return or returned check fee per occasion.
Read our Rocket Loans personal loan review.
| APR: | 8.99% - 29.99% (with discounts)* |
| Loan terms: | 24 to 84 months |
| Loan amounts: | $5,000 to $100,000 |
| Pros | Cons |
|---|---|
Borrowers don’t have to pay any required fees High six-figure borrowing limit APR discounts for autopay and direct deposit | Unavailable to residents in Mississippi High minimum loan of $5,000 Credit score of at least 680 required |
Another perk to like about SoFi is its lack of required fees — borrowers don’t have to pay origination, prepayment or even late fees. However, you may consider accepting an optional origination fee in exchange for a lower APR. Plus, if you sign up for autopay or direct deposit, you can receive a 0.25% rate discount for each.
Read our SoFi personal loan review.
| APR: | 7.49% - 23.24% |
| Loan terms: | 12 to 84 months |
| Loan amounts: | $3,000 to $100,000 |
| Pros | Cons |
|---|---|
No origination fee Can receive loans the same or next business day 0.25% relationship discount | No option to prequalify May charge late or returned payment fees High minimum loan amount |
Borrowers who go through Wells Fargo can skip out on paying an origination fee and receive a 0.25% discount if you have a Wells Fargo checking account and sign up for autopay. On the other hand, borrowers should keep in mind that you won’t be able to prequalify and the minimum loan amount is high.
Read our Wells Fargo personal loan review.
Getting a personal loan is typically a straightforward process, but there are a few ways you can prepare ahead of time to smooth the path ahead.
Check your credit report: Know your credit score ahead of time so you know what to expect since this will determine your eligibility and what kind of rates you’ll be offered. You can check your credit report for free at AnnualCreditReport.com.
Estimate how much you need: When planning to borrow a personal loan, be sure to estimate how much you’ll need ahead of time. You can use our personal loan calculator to do this. This way, you can avoid taking out more money than you require. For instance, if you plan to take out a personal loan for a home improvement project, be sure to sit down and strategize what kind of expenses you’ll need covered.
Budget for your loan: Being unable to repay and defaulting on a loan can deal heavy damage to your credit score. Your creditors may send your account to collections and may eventually file a lawsuit against you to get their money back. Because of this, you should budget and prepare ahead of time to make sure you can afford to repay a personal loan.
Gather necessary documents: When going through the personal loan application process, lenders typically require that borrowers verify the information they provide. Specifically, you may have to provide a government-issued I.D. and documents to verify your address and income. This can include your lease/mortgage agreement, as well pay stubs and W-2 forms.
Shop around for lenders: When you’re ready to find a lender to meet your financial needs, it may be wise to compare at least three financial institutions. This way, you can weigh the pros and cons of multiple options and find the rates, terms and perks that may work best for you. By filling out a single form with LendingTree, you might receive up to five loan offers from our network of lenders.
While initially applying for a personal loan may not impact your credit score (this is known as prequalification, or a soft credit inquiry), if you choose to move forward with a personal loan, you will have to go through a hard credit pull. Hard credit inquiries will temporarily have a mild negative impact on your credit score.
How you’re allowed to use a personal loan varies from lender to lender. Typically, lenders allow borrowers to use personal loans toward debt consolidation, credit card refinancing, medical bills and home improvement projects. Lenders commonly prohibit consumers from using their personal loan funds toward post-secondary education or business expenses.
Personal loans vary widely in size. They can run as high as $100,000 — like with lenders such as SoFi and Wells Fargo — or low as a few hundred dollars — like with institutions such as Navy Federal Credit Union and PenFed Credit Union. To get a large loan, lenders typically have stricter requirements that you’ll need to meet, such as credit history, income and credit score.