Where to Get a Personal Loan
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- Online lenders: These lenders offer a convenient way to find and compare personal loans online.
- Credit unions: Personal loans from credit unions may have lower annual percentage rates and flexible terms for their members.
- Banks: Some national banks offer personal loans with competitive rates and in-person support.
Personal loans from online lenders
Pros and cons of getting a personal loan from an online lender
Pros
Pre-qualify before committing to a loan.
Convenient and fast application process.
Cons
Potentially higher APRs for bad- and fair-credit borrowers.
No in-person support.
Top online lenders for personal loans
| Lender | Loan amount | APR | Min. credit score |
|---|---|---|---|
| $5,000 - $100,000. | 8.99% - 35.49% | None. | |
| $5,000 - $100,000. | 6.49% - 25.29% | 660. | |
| $1,000 - $50,000. | 6.70% - 35.99% | None. | |
| $1,000 - $50,000. | 7.99% - 35.99% | 580. |
Personal loans from credit unions
Pros and cons of getting a personal loan from a credit union
Pros
Low APRs for fair- and bad-credit borrowers.
Softer eligibility requirements.
Cons
Membership required.
Top credit unions for personal loans
| Lender | Loan amount | APR | Min. credit score |
|---|---|---|---|
| $500 - $50,000. | 8.14% - 18.00% | 660. | |
| $250 - $50,000. | 8.99% - 18.00% | None. |
Personal loans from banks
Pros and cons of getting a personal loan from a bank
Pros
May offer rate discounts to existing customers.
In-person support.
Cons
A branch visit may be required.
May need to be an existing customer.
Top banks for personal loans
| Lender | Loan amount | APR | Min. credit score |
|---|---|---|---|
| $2,500 - $40,000. | 7.99% - 24.99% | 660. | |
| $2,000 - $30,000. | 11.49% - 20.49% | 720. | |
| $3,000 - $100,000. | 7.49% - 23.74% | None. |
How to choose a lender
Personal loans from our partners
on SoFi
8.99-35.49%
$5K- $100K
on Avant
9.95-35.99%
$2K- $35K
on Best Egg
6.99-35.99%
$2K- $50K
Types of loans to avoid
Where is the best place to get a personal loan?
Where you get a personal loan depends on which lender offers the best rate and terms for your financial situation. It's best to pre-qualify with multiple lenders to compare loans and find monthly payments that fit your budget.
Where is the best place to get a small personal loan?
Credit unions typically offer smaller loan amounts, starting at $250, which is lower than other types of lenders.
Where is the easiest place to get a personal loan?
Online lenders are often the most convenient place to get a personal loan if you’re comfortable applying online. There are online lenders that approve applications and send loan funds the same or next business day.
Article sources
- 1. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 24, 2025.
Methodology
How we chose the best personal loans
Our team of consumer lending experts follow an objective and robust methodology to rate lenders and pick the best.
35+
Lenders reviewed
We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.
25+
Categories assessed
Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.
70+
Data points analyzed
Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial technology companies and financial institutions. We collect over 70 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
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