LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
Achieve offers possible interest rate discounts if you do any of the following: add a qualified co-borrower, show proof of “sufficient” retirement funds or allow Achieve to use at least 50% of the loan to pay off your qualifying existing debt directly (when consolidating debt). Keep in mind, it can take up to three days to get your loan funds and you’ll pay an origination fee ranging from 1.99% - 6.99%, which comes out of your borrowed amount. To learn more, read our full Achieve personal loan review.
Aside from having a credit score of 620 or higher, Achieve doesn’t provide many details on how to qualify for a personal loan. This lender will also consider other factors, including your credit history, income and debt-to-income ratio.
Best Egg only offers its lowest rates to consumers who have a minimum income of $100,000 and a credit score of at least 700. And while you can get your money within one business day, it can also take up to three business days before you see your loan funds. Best Egg’s income requirements, however, may mean that those with lower income may not receive Best Egg’s lowest rates. You’ll also have to pay an origination fee that can get as high as 0.99% - 8.99%. To learn more, read our full Best Egg personal loan review.
To get a Best Egg personal loan, you’ll need a minimum credit score of 580, must be a U.S. citizen or permanent resident and have a personal checking account and physical address. You also can’t live in the following areas:
Discover offers multiple repayment assistance options that can help keep you on track if you hit a financial hardship. Plus, its customer service department is based in the U.S. This lender has also earned high markers from LendingTree users, according to reviews.
Unfortunately, if you want to qualify for lower rates, Discover doesn’t allow you to apply with a co-borrower. Plus, with a loan limit of $40,000, you may find larger amounts elsewhere. To learn more, read our full Discover personal loan review.
Because LendingPoint has a maximum borrowing limit of $36,500, this lender may be best for consumers who are looking to make small- to mid-sized purchases. Once they’ve closed on their loan, LendingPoint borrowers may receive their money within one business day. However, if you take out a LendingPoint loan, you may have to budget for a one-time origination fee that’ll be taken out of the amount you borrow. You also won’t be able to apply with a co-borrower. To learn more, read our full LendingPoint personal loan review.
With loan lengths ranging from 24 to 84 months, LightStream offers one of the longest borrowing terms on the market. Not only that, but customers can also borrow up to $100,000 and get funds the same day they apply — plus, they won’t have to worry about any fees. Keep in mind that a good credit score won’t automatically qualify you for a LightStream loan — you’ll also need a solid credit background and to meet other criteria. Unfortunately, LightStream won’t allow you to prequalify, so you’ll have to go through a hard credit pull to see what they may offer. To learn more, read our full LightStream personal loan review.
LightStream only considers applicants with good-to-excellent credit scores. This lender will also consider factors, like your debt-to-income ratio, assets, credit background and payment history.
While many lenders only offer personal loans as small as $1,000 to $2,000, PenFed Credit Union offers funds as small as $600 and as high as $50,000. This loan amount flexibility provides consumers with more options, and they won’t have to worry about origination fees, either. You won’t need to be a member to apply for a PenFed loan, but you will need to become one if you choose to follow through with the application. But while anyone can become a member, PenFed’s lending criteria for its personal loans is unclear. To learn more, read our full PenFed personal loan review.
Other than a 760 credit score and a required membership, PenFed doesn’t provide much clarity as to what it specifically looks for in a borrower. Still, as far as membership goes, anyone can become a member as long as they open a PenFed savings account with a $5 deposit.
If you want to up your chances of getting approved or scoring a lower interest rate, Prosper allows you to add a co-borrower to your personal loan application. But it can take anywhere from one to three business days for Prosper to fund your personal loan, so you may not get your money quickly if that’s what you’re looking for in a lender. Be sure to also budget for a one-time origination fee — Prosper’s origination fee ranges from 1.00% - 7.99% of your borrowing amount. To learn more, read our full Prosper personal loan review.
It’s important to know before you apply that Reach Financial personal loans can only be used for debt consolidation or refinancing credit cards. While this may not work for borrowers who need a personal loan for other purposes, consumers who are looking to refinance their debt may receive lower APRs than what they’re currently paying. Reach funds may be available within 24 hours of closing on your loan and you’ll also have the unique perk of getting free access to your credit score. To learn more, read our full Reach Financial personal loan review.
Reach Financial borrowers will need at least a $20,000 annual income. In addition, you can’t reside in the following states: Colorado, Connecticut, Maine, Mississippi, New Jersey, Nevada, Oregon, Rhode Island, Tennessee, Utah, Vermont, West Virginia or Wyoming.
While most lenders take at least a day to fund your loan, SoFi can supply your money the same day you sign your agreement. On top of that, you could get an APR discount for signing up for autopay.
If you want to qualify for lower rates, SoFi charges a 0.00% - 7.00% origination fee. However, this fee isn’t required and you can get a loan without one. To learn more, read our full SoFi personal loan review.
Upstart’s minimum APR of just 7.80% may prove an attractive option for good credit borrowers. On top of that, Upstart’s turnaround time is quick, funding your loan within just one business day of closing. A unique perk of Upstart is that, unlike many lenders, you can use your loan funds for student debt. However, your repayment terms are limited to just 36 and 60 months — plus, Upstart may charge you an origination fee as high as 0.00% - 12.00%. To learn more, read our full Upstart personal loan review.
Good credit is generally defined as having a credit score of 670 to 739 with FICO or 700 to 749 with VantageScore. Any scores above that may be labeled as “very good” or “excellent.”
If you have a good credit score and are shopping for a personal loan, these are the factors you’ll need to consider when comparing lenders:
APR: A loan’s annual percentage rate (APR) is the amount you’ll be charged for a personal loan — this includes interest rate and fees. The better your credit, the lower your APR will likely be. One of the most common personal loan fees you’ll come across is an origination fee, a one-time administrative fee that is typically taken out of your loan amount.
Loan length: The length of your loan can influence both your monthly payments and APR. If you have a long-term loan, you’ll have smaller monthly payments but may pay more in interest. If the length of your loan is short, you’ll have higher monthly payments but your APR may be lower.
Borrowing amount: The larger the amount you want to borrow is, the stricter the requirements may be. In particular, your lender may require an excellent credit score and high income.
Requirements: Aside from your credit score, personal loan lenders also consider factors like your income, residency and debt-to-income ratio (DTI). Be sure to check with a potential lender if you meet their basic requirements before applying.
Unique features: Some lenders may offer unique perks like interest rate discounts and free monthly credit scores. Another feature to look for are no-fee personal loans.
Lender reputation: Be sure to research a lender before signing a loan agreement with them. In particular, be sure to check for regulatory action from the Federal Trade Commission (FTC) and Consumer Protection Bureau (CFPB). You can also check the CFPB complaint database.
If you have a good credit score, it’s likely that you’ll qualify for a lower APR. According to LendingTree’s personal loan statistics, the average APR for a person with a credit score between 660 to 679 is currently 32.06%. Here’s the following average personal loan APR based on credit score.
Credit score
Average APR
Average borrowing amount
720+
14.80%
$18,963
680-719
23.48%
$14,567
660-679
32.06%
$10,895
640-659
45.00%
$8,270
620-639
58.69%
$6,377
580-619
89.33%
$4,366
560-579
127.20%
$3,027
Less than 560
165.66%
$2,530
Source: LendingTree user data on closed personal loans for the third quarter of 2023.
Where to find a personal loan with good credit
The most common places to find a personal loan with good credit are banks, credit unions and online lenders. Here’s what you need to know about applying for a personal loan with each type of lender:
Banks: Banks tend to have lower APRs — but, often, they also come with strict requirements. However, if you’re already a customer of a bank that offers personal loans, you may have an easier time qualifying, especially if you have good credit.
Credit unions:Credit union personal loans are legally capped at 18% APR, and they tend to have lower interest and little to no fees in general. However, credit unions typically require that you become a member before you can access a personal loan, and some lenders have narrow criteria as to who can qualify.
Online lenders: Online loan lenders tend to have higher APRs than banks and credit unions; however, if you have a bad credit score, you may have an easier time getting a loan. Since online lenders do everything remotely, using this type of lender can also help streamline the process since you won’t have to visit a branch in person, unlike a bank or credit union.
Alternatives to personal loans for good credit
Even if you have good credit, a personal loan may not be the best fit for your particular financial position. If this is the case for you, consider these alternatives to getting a personal loan.
Credit cards: If you have good credit, you may qualify for a credit card. This type of debt is unsecured and will likely come with variable interest rates, meaning how much you pay each month could change. A good credit score may also offer access to a 0% intro APR credit card, which comes with no interest or fees for a set promotional period.
Personal line of credit: This type of debt isn’t common and you’ll likely have to go through a financial institute you already have a relationship with. A personal line of credit works like a credit card, though it also comes with withdrawal and repayment periods.
Home equity loan: If you own a house, you may be able to access a home equity loan. This works similarly to a personal loan, except you’re borrowing against the equity you’ve built up in your home over time, with your house serving as collateral for the loan.
HELOC: Another way you can take advantage of equity you’ve built up in your home is to take out a home equity line of credit (HELOC). While your home will still work as collateral, unlike a home equity loan, you’ll have variable interest rates and instead of receiving a lump sum, you’ll be able to borrow against a predetermined amount.
How we chose our picks for the best personal loans for good credit
We reviewed more than 25 lenders that offer personal loans to determine the overall 10 best personal loans for good credit. To make our list, lenders must offer competitive annual percentage rates (APRs). From there, we prioritize lenders based on the following factors:
Accessibility: Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
Rates and terms: We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.
LendingTree reviews and fact-checks our top lender picks on a monthly basis.
Frequently asked questions
A good credit score is considered to be a FICO Score of 670 and above and a minimum of 700 with VantageScore. A good credit score can help you qualify with more lenders and access better features. If your credit score is less than ideal, you may instead need to consider lenders than offer bad credit loans.
How much you can borrow with a personal loan will depend on the lender, your credit score, your credit history, your income and how much debt you have. The more solid your credit is and the higher your income, the more you’ll likely be able to borrow. To estimate how much debt you can afford to take on, you can use a personal loan calculator to determine your potential monthly payments.
You can check your credit score using LendingTree Spring or you can check with your current bank or credit union as well as with the three credit bureaus. Keep in mind that some companies may charge you, but others offer this as a free service.
Personal loans can negatively affect your credit score when you initially take one out (since your lender will run a hard credit pull on you), but this will nly cause your FICO Score to drop by up to five points. However, if you have late payments or default on a loan, this can have a much more devastating impact on your credit.
You can improve your credit score in a variety of ways but the most influential factors are going to be making on-time payments and lowering your credit utilization rate. This is how much revolving credit you’re using versus how much you have available.
*Pricing Disclosure: Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. 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 and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of 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 0%-7%, which 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. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.