| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | 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. | Interest rate discounts | 7.99% - 29.99% | 24 to 60 months | $5,000 to $50,000 | 620 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Borrowers with high incomes | 8.99% - 35.99% | 36 to 60 months | $2,000 to $50,000 | 580 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Borrowers with low incomes | 7.99% - 24.99% | months | $2,500 to $40,000 | 660 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Smaller loan amounts | 7.99% - 35.99% | 24 to 72 months | $2,000 to $36,500 | 640 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Loan length flexibility | 7.99% - 25.49% (with autopay) | 24 to 144 months | $5,000 to $100,000 | Not specified |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Loan amount flexibility | 8.49% - 17.99% | 12 to 60 months | $600 to $50,000 | 700 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Joint applications | 6.99% - 35.99% | 24 to 60 months | $2,000 to $50,000 | 640 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Refinancing debt | 9.99% - 35.99% | 24 to 60 months | $3,500 to $40,000 | 680 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Same-day funding | 8.99% - 25.81% (with autopay) | 24 to 84 months | $5,000 to $100,000 | 680 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Lowest APRs | 5.20% - 35.99% | 36 and 60 months | $1,000 to $50,000 | 300 |
| APR range | 7.99% - 29.99% |
| Loan amounts | $5,000 to $50,000 |
| Term (months) | 24 to 60 |
| Origination fee | 1.99% - 5.99% |
| Minimum credit score | 620 |
| Pros | Cons |
|---|---|
Co-borrowers can apply Interest rate discounts available May get funds within 24 hours | Charges origination fees High minimum loan amount Can take three days to get loan |
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% - 5.99%, which comes out of your borrowed amount. To learn more, read our full Achieve personal loan review.
| APR range | 8.99% - 35.99% |
| Loan amounts | $2,000 to $50,000 |
| Term (months) | 36 to 60 |
| Origination fee | 0.99% - 8.99% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
Offers direct payment to old lenders Offers secured and unsecured loans About half of customers are paid in one day | Charges an origination fee High income needed for lowest rates Funding can take up to three days |
Best Egg only offers its lowest rates to consumers who have a minimum income of $100,000 and a credit score of at least 580. 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:
| APR range | 7.99% - 24.99% |
| Loan amounts | $2,500 to $40,000 |
| Term (months) | 36 to 84 |
| Origination fee | No origination fee |
| Minimum credit score | 660 |
| Pros | Cons |
|---|---|
No fees upfront Long loan terms Low maximum APR | No option for co-applicant May charge $39 late fee Low maximum borrowing amount |
With a minimum income requirement of just $25,000, you don’t need to make a lot of money to qualify for a Discover personal loan. On top of that, borrowers can also benefit from Discover’s long repayment terms and no origination fees. 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.
To qualify for a Discover personal loan, you’ll need to meet the following criteria:
| APR range | 7.99% - 35.99% |
| Loan amounts | $2,000 to $36,500 |
| Term (months) | 24 to 72 |
| Origination fee | 0.00% - 10.00% |
| Minimum credit score | 640 |
| Pros | Cons |
|---|---|
Fast funding timeline Flexible repayment terms Low minimum borrowing limit | Charges up to 0.00% - 10.00% origination fee No option to add co-applicant Low maximum borrowing limit |
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.
Here’s what you need to know about qualifying for a LendingPoint personal loan:
| APR range | 7.99% - 25.49% (with autopay) |
| Loan amounts | $5,000 to $100,000 |
| Term (months) | 24 to 144 |
| Origination fee | No origination fee |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Loan terms from 24 to 144 months Doesn’t charge any fees Same-day funding available | No option to prequalify High minimum loan amount Strict credit requirements |
With loan lengths ranging from 24 to 144 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.
| APR range | 8.49% - 17.99% |
| Loan amounts | $600 to $50,000 |
| Term (months) | 12 to 60 |
| Origination fee | None |
| Minimum credit score | 700 |
| Pros | Cons |
|---|---|
No origination fees APR below 18% Anyone can become a member | Loans exclusive to members Must provide $5 deposit Unclear borrowing requirements |
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.
| APR range | 6.99% - 35.99% |
| Loan amounts | $2,000 to $50,000 |
| Term (months) | 24 to 60 |
| Origination fee | 1.00% - 5.00% |
| Minimum credit score | 640 |
| Pros | Cons |
|---|---|
Can get funds in one business day Option to add a co-borrower Option to change your due date | Charges an origination fee Funding can take up to three days No autopay discounts |
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% - 5.00% of your borrowing amount. To learn more, read our full Prosper personal loan review.
Prosper dictates that you’ll need to meet the following requirements to access a personal loan:
| APR range | 9.99% - 35.99% |
| Loan amounts | $3,500 to $40,000 |
| Term (months) | 24 to 60 |
| Origination fee | 0.00% - 8.00% |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
Offers access to free credit score Funds available within 24 hours Competitive APRs | May charge an origination fee Can’t use a co-applicant Loan use limited to refinancing debt |
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.
| APR range | 8.99% - 25.81% (with autopay) |
| Loan amounts | $5,000 to $100,000 |
| Term (months) | 24 to 84 |
| Origination fee | No origination fee required |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
Same-day funding available Origination fee not required Offers unemployment protections | No physical branches you can visit High minimum loan amount Lower rates may come with a fee |
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, this lender will also work with you on adjusting your payments should you lose your job.If you want to qualify for lower rates, SoFi charges a No origination fee required 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.
To qualify for a SoFi personal loan, you’ll need to check the following requirements:
| APR range | 5.20% - 35.99% |
| Loan amounts | $1,000 to $50,000 |
| Term (months) | 36 and 60 |
| Origination fee | 0.00% - 12.00% |
| Minimum credit score | 300 |
| Pros | Cons |
|---|---|
Minimum APR of just 5.20% May get funds in one business day Funds can be used for student debt | Origination fee up to 0.00% - 12.00% No option for co-applicant Terms limited to 36 and 60 months |
Upstart’s minimum APR of just 5.20% 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.
Upstart requires that you meet the following criteria:
A good credit score is considered to be a FICO Score of 670 and above and a minimum of 661 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 personal 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 by using online marketplaces like LendingTree, but you can also 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.