Best Personal Loans for Good Credit in December 2024

Achieve offers 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 85% of the loan to pay off your qualifying existing debt directly (when consolidating debt). Discounted annual percentage rates (APRs) can help you save on the total cost of your loan.

While many lenders don’t charge upfront fees, Achieve does charge an origination fee of 1.99% - 6.99%, which will be taken out of your loan funds. Achieve loans start at $5,000, so consider other lenders on this list if you’re looking for a small loan.

Other than a credit score of at least 620, Achieve will typically ask you to provide the following documents and information:

• Proof of income
• Social Security number
• Government-issued ID
• Employment status

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. If you meet these criteria, you could qualify for their low starting rates — and you can check your rates with no damage to your credit by prequalifying.

Note that borrowers with good credit that doesn’t quite hit that 700 benchmark will get higher rates, and Best Egg charges an upfront origination fee regardless of credit score.

You must meet the requirements below to qualify for a Best Egg loan:

Citizenship: Be a U.S. citizen or permanent resident living in the U.S.
Administrative: Have a personal checking account, email address and physical address
Residency: Not live in the District of Columbia, Iowa, Vermont, West Virginia or U.S. territories
Credit score: 580

Discover offers multiple repayment assistance options that can help keep you on track if you hit a financial hardship. Plus, Discover’s customer service department is based in the U.S, and 97% of LendingTree users who borrowed from Discover recommend the lender.

Discover doesn’t allow you to apply with a co-borrower to qualify for lower rates. Since Discover loans max out at $40,000, consider other lenders if you need to cover a large expense.

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

Because LendingPoint has a maximum borrowing limit of $36,500, this lender is best for consumers who are looking to make small- to mid-sized purchases. Once you’ve closed on your loan, LendingPoint will send you your money as soon as 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 get a loan from LendingPoint, you must meet its minimum criteria:

• Age: Be 18 years old or older
• Administrative: Provide identification issued by the U.S. government, have a Social Security number and have a bank account
• Income: Have a minimum income of $35,000
• Residency: Not live in Nevada or West Virginia
• Credit score: 660

While many lenders charge upfront fees or prepayment penalties for paying off a loan early, LightStream stands out by not charging fees. They offer long repayment terms and loans as large as $100,000, which is more than many traditional lenders offer. Plus, LightStream has fast funding.

Keep in mind that you won’t automatically qualify for a LightStream loan just by having good credit — you’ll also need to meet other criteria like having a solid credit history. Unfortunately, LightStream doesn’t offer preapproval, so you’ll have to submit to a hard credit pull to see your rates and whether you qualify.

LightStream doesn’t specify its exact credit score requirements, but you must have good to excellent credit to qualify. Most of the applicants that LightStream approves 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 their current debt obligations
• Savings, whether in a bank account, investment account or retirement account

While most lenders take at least a day to fund your loan, 82% of SoFi borrowers get their money the day they close on their loan. SoFi also offers an autopay discount of 0.25%, and their loans max out at $100,000 instead of the $50,000 limit that many other lenders have.

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.

You must meet the requirements below 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: Have a job or job offer with a start date within 90 days, or have regular income from another source
• Credit score: 680