BEST OF
Personal Loans for Good Credit: Best of January 2021
Personal loans for good-credit borrowers have fixed interest rates and loan amounts from $2,000 to $100,000. Compare offers from multiple lenders before you choose.
Personal loans for good- or excellent-credit borrowers — those with FICO scores 690 and above — typically have low interest rates, and many come with perks like free credit monitoring and flexible payment options. Generally, the better your credit, the wider pick of lenders you have.
Here are the top lenders offering personal loans for borrowers with good credit.
LightStream: Best for low rates.
Marcus by Goldman Sachs: Best for flexible payments.
Payoff: Best for credit card consolidation.
SoFi: Best for high loan amounts.
Best Egg: Best for fast funding.
Prosper: Best for joint loan option.
Discover: Best for debt consolidation.
Personal loans for good- or excellent-credit borrowers — those with FICO scores 690 and above — typically have low interest rates, and many come with perks like free credit monitoring and flexible payment options. Generally, the better your credit, the wider pick of lenders you have.
Here are the top lenders offering personal loans for borrowers with good credit.
LightStream: Best for low rates.
Marcus by Goldman Sachs: Best for flexible payments.
Payoff: Best for credit card consolidation.
SoFi: Best for high loan amounts.
Best Egg: Best for fast funding.
Prosper: Best for joint loan option.
Discover: Best for debt consolidation.
Summary of Personal Loans for Good Credit: Best of January 2021
Lender | NerdWallet Rating | Est. APR | Min. Credit Score | Learn More |
---|---|---|---|---|
Best for Good credit and credit card consolidation | 5.99 - 24.99% | 640 | on Payoff's website | |
Best for Good credit and low rates | 4.49 - 20.49% | 660 | on LightStream's website | |
Best for Good credit and flexible payments | 6.99 - 19.99% | 660 | on Goldman Sachs's website | |
Best for Good credit and high loan amounts | 5.99 - 20.69% | 680 | on SoFi's website | |
Best for Good credit and fast funding | 5.99 - 29.99% | 640 | on Best Egg's website | |
Best for Good credit and joint loan option | 7.95 - 35.99% | 640 | on Prosper's website | |
Best for Good credit and debt consolidation | 6.99 - 24.99% | 660 | See my rates on NerdWallet's secure website |
Our pick for
Good credit and credit card consolidation
on Payoff's website
Payoff
Min. Credit Score
Est. APR
Loan Amount
on Payoff's website
Our pick for
Good credit and low rates
on LightStream's website
LightStream
Min. Credit Score
Est. APR
Loan Amount
on LightStream's website
Our pick for
Good credit and flexible payments
on Goldman Sachs's website
Marcus by Goldman Sachs
Min. Credit Score
Est. APR
Loan Amount
on Goldman Sachs's website
Our pick for
Good credit and high loan amounts
on SoFi's website
SoFi

Min. Credit Score
Est. APR
Loan Amount
on SoFi's website
Our pick for
Good credit and fast funding
on Best Egg's website
Best Egg
Min. Credit Score
Est. APR
Loan Amount
on Best Egg's website
Our pick for
Good credit and joint loan option
on Prosper's website
Prosper
Min. Credit Score
Est. APR
Loan Amount
on Prosper's website
Our pick for
Good credit and debt consolidation
on NerdWallet's secure website
Discover® Personal Loans
Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
What is a good-credit loan?
Having good credit can often mean lower annual percentage rates and more favorable terms on personal loans. These loans are unsecured, meaning you don't have to put up collateral like your car or savings; instead, lenders evaluate applicants' ability to repay by considering factors like credit, debt and income.
You can get a good-credit personal loan from online lenders, credit unions and some banks.
How to choose a personal loan
Consider these factors when choosing an online lender so you get a loan you can afford:
Compare rates across lenders: If you’re someone with either good or excellent credit, it pays to shop around to get the best combination of low rates and fees. Most online lenders let you pre-qualify to check rates without affecting your credit, using a soft credit check.
Loan purpose: A benefit of personal loans is you can usually use the money however you like, whether to pay off high-interest credit cards or for home improvements, and rates may vary based on the loan purpose.
Loan features: Some lenders have mobile apps where you can track your loan, which is helpful if you like to have a good handle on your finances. Others offer flexible payment schedules or options to defer a payment in case of hardship. If you’re consolidating your debt, some lenders will send your loan proceeds directly to your creditors, saving you an important step in your efforts to pay off debt.
Additional benefits: Take advantage of benefits like free credit score monitoring, financial education resources and career counseling that may be offered by your lender.
How much will a good-credit loan cost?
The APR you receive on a personal loan depends a lot on your credit score. The better your score, the lower your rate and the less interest you’ll pay over the life of the loan. The average APR for borrowers with good credit is 18%, according to a NerdWallet lender survey.
The interest rate also affects your total monthly payment, as does the term length; a longer term means lower monthly payments, but more interest. Use our personal loan calculator to estimate your monthly payments based on your credit score.
Here is what interest rates on personal loans look like, on average:
How's your credit? | Score range | Estimated APR |
---|---|---|
Excellent | 720-850 | 11.8% |
Good | 690-719 | 17.4% |
Fair | 630-689 | 23.4% |
Bad | 300-629 | 28.7% (Lowest scores unlikely to qualify.) |
Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified in NerdWallet’s lender marketplace between Jan. 1, 2020, and Dec. 31, 2020. Rates are estimates only and not specific to any lender.
Good-credit loans from banks
Traditional banks are another option if you have good to excellent credit. Most offer interest rates on par with online lenders, and if you have an existing account with the bank, you could also benefit from an easier application process and discounted rates.
American Express, which preapproves existing AmEx cardholders, is a good choice for consolidating credit card debt. It offers low rates, no fees and the option to directly pay off up to four cards.
Citizens Bank offers a 0.25% discount on a personal loan to existing customers and an additional 0.25% discount for setting up automatic payments.
PNC also offers its banking customers a 0.25% discount on a personal loan if they choose to make repayments through their checking account.
Wells Fargo allows existing customers to apply for personal loans online and offers comparatively high borrowing amounts that make it an option for funding home improvements.
Last updated on January 11, 2021
Methodology
NerdWallet's ratings for personal loans award points to lenders that offer consumer-friendly features, including soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews.
To recap our selections...
NerdWallet's Personal Loans for Good Credit: Best of January 2021
- Payoff: Best for Good credit and credit card consolidation
- LightStream: Best for Good credit and low rates
- Marcus by Goldman Sachs: Best for Good credit and flexible payments
- SoFi: Best for Good credit and high loan amounts
- Best Egg: Best for Good credit and fast funding
- Prosper: Best for Good credit and joint loan option
- Discover® Personal Loans: Best for Good credit and debt consolidation
Frequently asked questions
Good credit scores on the FICO credit scale are between 690 and 719. The credit score you need for a personal loan can vary by lender and the reason you're borrowing. The best personal loan rates and terms are reserved for those with good and excellent credit.
Lenders favor borrowers with good and excellent credit scores (FICO scores above 689). Lenders also consider your debt-to-income ratio on a loan application. When you're ready to apply for a personal loan, compare multiple lenders and pre-qualify to make sure you're getting the best rates and terms available.