Best Personal Loans for Excellent Credit in August 2024

Whether you’re looking to pay off some credit card debt with a lower interest rate or need help covering medical bills, Achieve offers personal loans at $5,000 to $50,000. You may get approved on the same day you apply for an Achieve loan.

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 full Achieve personal loan review.

You’ll need a credit score of at least 620 to get a loan with Achieve. You may also need to provide:

• Proof of income
• Social Security number
• Employment status
• Proof of identity

Best Egg offers personal loans between $2,000 and $50,000. To qualify for Best Egg’s lowest APR, you’ll need an individual annual income of at least $100,000. Once you apply, you’ll receive funds in one to three business days (half of borrowers receive their money in one).

Keep in mind, however, that Best Egg does charge an origination fee (0.99% - 9.99%) that will come out of the total amount of your loan.

Read our Best Egg personal loan review.

To qualify for a Best Egg personal loan, you’ll need to meet these requirements:

• Minimum credit score: 600
• Be a U.S. citizen or permanent resident living in the U.S.
• Must not live in Iowa, Vermont, West Virginia, District of Columbia or any U.S. territories
• Have a valid email and physical address (not including PO Boxes)
• Be of legal age to get a loan in your state
• Have a checking account

Even people with high credit scores can find themselves in unexpected credit card debt. Happy Money is an online lender that offers personal loans specifically (and only) to help borrowers pay off credit card debt.

You can borrow between $5,000 to $40,000 with a minimum APR of 11.72%. Unfortunately, this lender charges an origination fee (1.50% - 5.50%), which will be taken out of your loan proceeds.

Read our full Happy Money personal loan review.

Happy Money provides clear eligibility requirements:

• Minimum credit score: 640
• Zero current delinquencies on your credit profile
• Must be 18 years or older
• Must have a valid Social Security number
• Must have a checking account
• Can’t live in Massachusetts or Nevada

LendingClub is an online marketplace where consumers can borrow anywhere from $1,000 to $40,000. With LendingClub, you can apply for a joint personal loan and prequalify for a loan, features that many other lenders don’t offer.

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.

LendingClub doesn’t offer many specifics when it comes to their requirements, but you will have to meet the following criteria:

• Minimum credit score: 600
• Be a U.S. citizen or permanent resident
• Be at least 18 years old
• Have a verifiable bank account

LightStream provides unsecured personal loans between $5,000 to $100,000 for consumers with good or excellent credit. In addition to a 0.50% autopay discount, LightStream also offers a Rate Beat program that takes 0.10% off of an approved rate from a competing lender.

LightStream does not offer prequalification services, so you’ll need to submit to a hard credit pull in order to see your rates. This will (slightly and temporarily) impact your credit score. And if you need a small loan, look elsewhere — LightStream loans start at $5,000.

If you have a robust credit history and an excellent credit score, you may qualify for a LightStream loan. Here are the criteria you’ll need to meet:

• Good or excellent credit
• At least five years of credit experience
• Owned assets such as retirement and savings accounts
• Good debt-to-income ratio
• Good payment history with no past delinquencies

Like PenFed Credit Union (see below), Navy Federal Credit Union offers a wide range of loan amounts to choose from, their lowest being just $250. However, you’ll need to become a member of the credit union in order to receive your loan.

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.

Navy Federal Credit Union only offers loans to those with military connections, including the following:

• Active duty or retired members of the armed forces
• Active duty members of the armed forces
• Delayed Entry Program
• DoD Officer Candidate/ROTC
• DoD Reservists
• Veterans, retirees and annuitants
• Household or family member of any of the above

With loans ranging from $600 to $50,000, PenFed Credit Union offers one of the lowest minimum personal loan amounts on this list. Paired with its quick funding timeline and low rates, this lender may be an attractive option for consumers who want a small loan.

While you won’t have to worry about any origination fees, PenFed 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.

PenFed does not specify its minimum credit score requirement, but you must become a PenFed Credit Union member to receive your personal loan. Members must open a PenFed savings account with a $5 deposit.

With loan terms as short as 6 months, PNC Bank may be a competitive option for borrowers looking to save money on interest. The shorter your loan term, the more money you’ll save on interest payments.

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 also depend on where you live.

Read our PNC Bank personal loan review.

PNC Bank does not provide much information when it comes to qualifying for a personal loan. The lender will likely consider factors such as your credit score, payment history and debt-to-income ratio during the application process.

Rocket Loans offers personal loans ranging from $2,000 to $45,000 with terms of 36 or 60 months. The APR with Rocket Loans depends on your credit score, monthly income and debt-to-income ratio, among other things, but it starts at 9.116% with the autopay discount.

Keep in mind that if you take out a Rocket Loans personal loan, you’ll have to pay an origination fee (up to 9.00%) that will come out of the total amount of the funds you receive. Rocket Loans also charges a $15 per occurrence 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.

Rocket Loans requires that you not only be at least 18 years old, but that you also meet the following requirements:

• Minimum credit score: 640
• Must be a U.S. citizen
• Minimum annual income of $24,000
• Must not live in Iowa, Nevada or West Virginia

SoFi is an online lender that offers many perks to borrowers that meet their minimum credit score requirement of 680 (among other criteria). Like LightStream, SoFi offers flexible loan amounts.

SoFi also doesn’t charge fees — borrowers don’t have to pay origination, prepayment or even late fees. Plus, if you sign up for autopay, you can receive a 0.25% rate discount.

Read our SoFi personal loan review.

SoFi lists clear eligibility requirements, including the following:

• Minimum credit score: 680
• Must be employed or have an employment offer to start within 90 days (if unemployed, you must verify your income from other sources)
• Must be the age of majority in your state
• Must be a U.S. citizen, permanent resident or non-permanent resident (including Deferred Action for Childhood Arrivals (DACA) program recipients and asylum-seekers) with a current immigration status

As one of the largest banking institutions in the U.S., Wells Fargo is among the few lenders on this list with physical locations. It offers a wide range of loan amounts to choose from ($3,000 to $100,000), and borrowers with excellent credit may be able to borrow up to six figures.

If you get a loan with Wells Fargo Bank, you can skip out on origination fees. On the other hand, you may have to pay late or returned payment fees.

Read our Wells Fargo personal loan review.

Wells Fargo doesn’t offer many specifics when it comes to consumers qualifying for a personal loan. It does state, however, that it only offers personal loans to current Wells Fargo customers of at least 12 months.