Personal Loans for Good Credit: Best of June 2021

Personal loans for good-credit borrowers have fixed interest rates and loan amounts up to $100,000. Compare offers from multiple lenders before you choose.

Colin ThompsonJun 7, 2021
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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.

  • Prosper: Best for joint loan option.

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 term: Personal loans generally have terms from two to seven years, though some lenders offer extended terms for specific purposes like home improvement. A shorter loan term means you'll pay less total interest on the loan; a longer term makes your monthly payments lower and potentially more affordable.

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. 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












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.

PNC also offers its banking customers a 0.25% discount on a personal loan if they choose to make repayments through their checking account.

TD Bank offers loans to customers primarily in East Coast states, with competitive rates and quick approval and funding times.

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.

Next steps: Pre-qualify for a personal loan

Pre-qualifying for a personal loan lets you see the rate and term you may qualify for. You can pre-qualify on NerdWallet and compare offers from multiple lenders that partner with us. Pre-qualifying will not affect your credit score.

Last updated on June 7, 2021


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 June 2021

  • Payoff: Best for Good credit and credit card consolidation
  • SoFi: Best for Good credit and high loan amounts
  • LightStream: Best for Good credit and low rates
  • Marcus by Goldman Sachs: Best for Good credit and flexible payments
  • Prosper: Best for Good credit and joint loan option

Frequently asked questions