Best Online Personal Loans of 2026

Details about the best online personal loan lenders

Each of these lenders typically approves applications within the same day and funds the loan the next day or even sooner. Here’s more about why we chose these lenders, as well as the borrower and purpose they’re best for.

Discover: Best overall online lender

Why we like it: In our latest analysis, Discover earned a 4.8 (out of 5) rating, which ties for the highest of the nearly 40 lenders we review. It shines for charging no origination fees, late fees or other fees — that’s rare among online lenders. Discover also offers low rates, with APRs ranging from 6.99% - 24.99% .

Keep in mind: You’ll need strong credit to qualify, as Discover’s minimum credit score is 660.

Earnest: If you have good or excellent credit

Why we like it: Earnest boasts some of the lowest rates on this list, from 6.24% - 24.74%, which includes a rate discount of 0.25 percentage points for automatic payments. You may also receive rate reductions of up to 0.75 percentage points as you make consecutive on-time payments and lower your principal.

Keep in mind: Earnest’s minimum credit score requirement is 680, which is the highest on this list.

Upgrade: If you prefer a secured or co-signed loan

Why we like it: In addition to unsecured loans, Upgrade lets you use home fixtures or a vehicle to secure a loan. Pledging collateral makes the loan less risky for lenders, but they can take your collateral if you don’t repay.

Upgrade also offers co-signed loans. Applying with someone who has stronger credit or securing a loan can make it easier to qualify or get better terms.

Keep in mind: Upgrade charges an origination fee from 1.85% to 9.99%.

SoFi: If you need money fast

Why we like it: With SoFi, you can potentially get approved and funded within the same day. That’s fast, even among online lenders.

We also appreciate that Sofi offers loans up to $100,000, which is higher than what most online lenders offer, and the option to repay with a co-borrower.

Keep in mind: Like with Discover and Earnest, SoFi is likely an option only if you have standout credit. While the lender doesn’t disclose a credit score minimum, it told us it seeks borrowers with good or excellent credit and that its average borrower has a score of 720 or higher.

Happen Bank (formerly LendingClub): If you’re consolidating debt

Why we like it: Happen Bank (which rebranded from LendingClub in June 2026) takes some of the work out of consolidating debt by sending your loan funds directly to your creditors. In fact, it will reduce your rate by 0.5 percentage points if you choose that option. Happen also has one of the lowest minimum APRs of the many lenders we review.

Keep in mind: Happen may charge an origination fee of up to 8%.

Upstart: If you have thin or checkered credit

Why we like it: Most personal loan lenders heavily weigh your credit scores to determine if you qualify. Upstart takes a different approach. It has no credit score requirement and considers applicants with low scores or no credit history. It factors in non-traditional criteria, such as your education and work backgrounds, to make lending decisions.

Keep in mind: Loans through Upstart may have an origination fee up to 12%. Most other lenders cap their origination fees below 10%.

LightStream: If you’re funding a home improvement project

Why we like it: While LightStream is a solid lender for many purposes — with no fees, same-day funding and a maximum loan amount of $100,000 — it offers special terms for home improvement projects. If you borrow more than $25,000 for a home improvements, you may get a term of up to 20 years. For reference, many other lenders cap terms at five or seven years.

Keep in mind: Unlike other online lenders, LightStream doesn’t let you pre-qualify directly from its website. (However, you may be able to check your personalized rates with a soft credit check via partner sites like NerdWallet.)

Rates and monthly payments for personal loans

Financial experts recommend personal loans have an annual percentage rate below 36% to be considered affordable. The loan with the lowest APR will be the least expensive.

Here’s a snapshot of average estimated personal loan APRs based on credit score ranges.

Plug your estimated APR into our personal loan calculator along with your desired loan amount and loan term to find out how much your monthly payments could be. A longer repayment term will give you lower monthly payments but will cost more in interest overall.

How to get a personal loan online

Most online loan companies let you check personalized rates before formally applying. Here’s what the process looks like.

Step-by-step video guide to getting a personal loan

» MORE: How to get a personal loan

Tips for qualifying if you have bad credit

It can be harder to qualify for a personal loan with a credit score below 600, but some online lenders have low credit score requirements or weigh other factors when assessing applications. Still, borrowers with bad credit tend to qualify for rates on the higher end of a lender's range.

If your credit isn't great, here are ways to strengthen your application:

Choose a co-signed or joint loan. Adding a co-signer to the loan application or applying for a joint loan with a co-borrower can boost your eligibility or get you a lower rate or higher loan amount. Your co-applicant is responsible for making loan payments if you fail to do so.

Get a secured loan. Most personal loans are unsecured, but some lenders offer secured loans that require collateral, like your car or a savings account, to guarantee the loan. You risk losing the collateral if you default on the loan.

Choose a lower loan amount. Lenders may view a large loan amount as risky. Borrow only what you need.

Build your credit. If you don’t need the loan immediately, do what you can to build your credit before applying.

» MORE: Boost your chances of personal loan approval

Signs of legit online loans

There are plenty of reputable online lenders, but they compete alongside predatory lenders that offer payday and other no-credit-check loans.

Check for these green flags of a legit lender.

Charges a reasonable APR: The lenders we highlighted have APRs below 36%. Predatory lenders charge much higher rates, sometimes in the triple digits. Their APRs may not be clear because borrowing costs are often presented as fees. A payday loan calculator can convert those fees into an APR.

Reviews your ability to repay. Legit lenders typically review your credit and income before approving you. Predatory lenders don’t — and they make up for this risk with high fees and short terms.

Reports to credit bureaus. Look for lenders that report your payments to the credit bureaus, meaning that on-time payments can help your credit.

Consider payday and no-credit-check loans only as a last resort after you’ve exhausted all alternatives to high-cost loans.

Alternative borrowing options

Before committing to a personal loan, consider if another financing option would work better for your situation.

Personal loans from banks and credit unions. Banks and credit unions are less likely to charge origination fees and may offer lower rates, particularly if you’re already a customer or member. Just keep in mind that these institutions may fund your loan more slowly than online lenders, and some larger banks, including Bank of America and Chase, don't offer personal loans.

Zero-interest credit cards: You’ll pay no interest on expenses you charge during the introductory rate period of a zero-interest credit card — typically the first 15 to 21 months. After that, rates can jump up to almost 30%. Credit card companies often require good to excellent credit to get a zero-interest card.

Home equity financing: If you own a home, you could take out a home equity loan or home equity line of credit (HELOC). For both, you borrow against the value of the home minus what you owe on your mortgage. Home equity loans provide a lump sum, while HELOCs work like a credit line you can draw from as needed. Interest rates for these options are lower than for unsecured personal loans, because your home serves as collateral. Repayment terms are longer, too.

Cash advance apps: If you need a small loan of $500 or less, a cash advance app can be a fast, no-credit-check option with low fees. Repayment can be due as soon as your next paycheck, so make sure you’ll have the funds to cover it.

Next steps

If an online personal loan is the best choice for you, pre-qualify with multiple lenders through NerdWallet. You’ll see results within minutes.

Pre-qualifying is free and won’t impact your credit score.

How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

30+

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.

60+

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.

Affordability

25%

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 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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