Unsecured Personal Loans: Borrow With No Collateral

Key facts

Pros

• Competitive rates among online lenders.

• Offers direct payment to creditors.

• Reports payments to all three major credit bureaus.

• No prepayment or late fees.


Cons

• Charges origination fee.

• No rate discount for autopay.

• Requires several years of credit history.


Qualifications

• Minimum credit score: 600.

• Minimum credit history: Three years.

• At least two open accounts on credit report.

• Maximum debt-to-income ratio: 50% (excluding mortgage).

• Free cash flow: At least $1,000.

• Zero credit delinquencies.

• Must be able to provide income verification.

• No bankruptcies filed within the past two years.

• Must provide Social Security number.

Available Term Lengths

2 to 5 years

Fees

• Origination fee: 0%-5%.

Disclaimer

This does not constitute an actual commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to enable us to verify your income, assets, and financial condition. Your interest rate and terms for which you are approved will be shown to you as part of the online application process. Most applicants will receive a variety of loan offerings to choose from, with varying loan amounts and interest rates. Borrower subject to a loan origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements.

Key facts

Pros

• No fees.

• Wide variety of repayment term options.

• Offers 0.25 percentage point rate discount for setting up autopay.

• Offers direct payment to creditors for debt consolidation loans.


Cons

• No co-sign, joint or secured loan option.

Qualifications

• Minimum credit score: 720 FICO.

• May need to provide proof of income, including recent pay stubs or bank statements.

• May need to provide Social Security number, Individual Tax ID number or a photo ID.

Available Term Lengths

3 to 6 years

Fees

• Origination fee: None.

• Late fee: None.

Disclaimer

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 6.99%-24.74%. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.

Key facts

Pros

• No origination fee.

• Offers direct payment to creditors with debt consolidation loans.

• Offers mobile app to manage loan.

• Able to fund loans within one business day.

• Wide variety of repayment term options.

Cons

• Charges late fee.

• No co-signed, joint or secured loan options.

• No rate discount for autopay.

Qualifications

• Minimum credit score: 720; borrower average is 750.


• Must be a U.S. citizen or permanent resident.

• Must be at least 18 years old.

• Must have a minimum household income of $40,000.

Available Term Lengths

3 to 7 years

Fees

• Origination fee: None.

• Late fee: $39.

Disclaimer

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 5.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 10.99% APR for a term of 72 months, you'll pay just $285 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

Key facts

Pros

• Offers wide range of loan amounts.

• Provides secured loan option for homeowners.

• Offers direct payment to creditors with debt consolidation loans.

Cons

• Origination fee.

• No rate discounts.

• No option to choose initial payment date.

Qualifications

• Minimum credit score: 600; borrower average is 700.

• Minimum credit history: 3 years and 3 accounts.

• Minimum income requirement is $3,500; borrower average is $80,000. Borrower must have enough cash flow to cover current financial obligations.

• Maximum debt-to-income ratio: 40% or 65% including a mortgage; borrower average is 40%.

• Employment: Must provide proof of income; part-time employees are eligible.

• Must provide valid U.S. address and Social Security number.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 0.99% - 8.99%.

• Return fee: $15 if payments are not processed.

Disclaimer

Trustpilot TrustScore as of June 2020. Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “the Best Egg personal loan”, “the Best Egg Secured Loan”, and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan,” as applicable. The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $50,000. Annual Percentage Rates (APRs) range from 7.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–8.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate.  You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories.

Key facts

Pros

• Accepts borrowers new to credit.

• Able to fund loans within one business day.

• Offers direct payment to creditors with some debt consolidation loans.

• Allows borrowers to choose and change payment date.

Cons

• Borrowers can choose from only two repayment term options.

• Charges origination fee.

• No mobile app to manage the loan.

Qualifications

• Minimum credit score: None.

• Minimum credit history: None, this lending platform accepts borrowers with credit history too limited to produce a FICO score.

• Minimum gross income: $12,000.

• Employment: Full-time job, full-time job offer starting in 6 months, a regular part-time job, or another source of regular income.

• Must have U.S. residential street address where borrower resides (unless military personnel on active duty).

• Must be at least 18 years old.

• Valid email account required.

• Personal bank account with U.S. routing number required.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 0% - 8%.

• Late fee: 5% of past due amount or $15, whichever is greater.

Disclaimer

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000).This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website.The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $14,775 including a $582 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

Key facts

Pros

• No fees.

• Offers co-sign loan options.

• Offers 0.25 percentage point rate discount for setting up autopay.

• Offers unemployment protection.

• Provides mobile app to manage your loan.

Cons

• No secured or joint loan option.

• High minimum loan amount.

Qualifications

• Must legally be an adult in your state.

• Must be a U.S. citizen, permanent resident or visa holder.

• Must be employed, have sufficient income or have an offer of employment to start within the next 90 days.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: None.

• Late fee: None.

Disclaimer

Fixed rates from 7.99% APR to 22.73% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 8/1/22 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

Key facts

Pros

• No fees.

• Rate discount for autopay.

• Long repayment terms on home improvement loans.

• Rate Beat program and Experience Guarantee.

Cons

• No option to pre-qualify on its website.

• Requires several years of credit history.

• No direct payment to creditors with debt consolidation loans.

Qualifications

• Minimum credit score: 660.

• Several years of credit history.

• Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage.

• Strong payment history with few or no delinquencies.

• Investments, retirement savings or other evidence of an ability to save money.

• Enough income to pay existing debts and a new LightStream loan.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: None.

• Late fee: None.

Disclaimer

Rates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice). AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $25,000 loan at 4.98% APR with a term of 20 years would result in 240 monthly payments of $164.71. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Key facts

Pros

• Soft credit check with pre-qualification.

• Competitive rates among fair-credit lenders.

• Offers a 0.3 percentage point rate discount for setting up autopay.

• Able to fund loans the same day.

• Offers small loans of $2,000.

Cons

• Charges origination fee.

• Does not offer direct payment to creditors with debt consolidation loans.

• No option to choose or change your payment date.

• Borrowers can choose from only two repayment term options.

• No co-sign, joint or secured loan option.

Qualifications

• Minimum credit score: 640; borrower average is 710.

• Minimum credit history: Over two years.

• Minimum annual income: $24,000; borrower average is $85,000.

• Maximum debt-to-income ratio: 40% or 70% including mortgage; borrower average is 14%.

• Must be at least 18 years old (19 in Alabama and Nebraska).

• Must provide Social Security number.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 1% to 6%.

• Late fee: $15 after 10-day grace period.

• Unsuccessful payment fee: $15.

Disclaimer

All personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. Please refer to our Disclosures and Licenses page for state required disclosures, licenses, and lending restrictions. Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). All loan applications are subject to credit review and approval. Offered loan terms depend upon your credit profile, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice. Please refer to RocketLoans.com and our Terms of Use for additional terms and conditions.

Key facts

Pros

• Offers joint loan options.

• Offers direct payment to creditors with debt consolidation loans.

• Soft credit check with pre-qualification.

• Option to change the payment date.

Cons

• Borrowers can choose from two repayment term options only.

• Charges an origination fee.

Qualifications

• Minimum credit score: 600.

• Maximum DTI: 60%; 40% for joint applicants.

• Minimum credit history: More than 18 months.

• Minimum number of accounts on credit report: Two revolving accounts.

• Monthly income after paying other debts and living expenses should be enough to cover the new personal loan payments.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 2% to 6%.

• Late fee: Greater of $15 or 5% of payment after 15-day grace period.

Disclaimer

A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 7.04% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of 7/1/21 and are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.

Key facts

Pros

• Option to include a co-signer.

• No origination fee.

• Offers a .25 percentage point rate discount for setting up autopay.

• Offers direct payment to creditors.

• Able to fund loans within 24 hours.

Cons

• High minimum loan amount.

• Charges late fee.

• Requires several years of credit history.

Qualifications

• Minimum credit score: 700 or 660 with a qualified co-signer.

• Minimum credit history: Four years and two open accounts.

• No more than three credit inquiries in the past six months.

• Maximum debt-to-income ratio: 43% (including mortgage).

• No delinquencies.

• Have not filed for bankruptcy.

• Must be a U.S. citizen or permanent resident.

• Employed for more than two years.

Available Term Lengths

3 to 5 years

Fees

• No origination.

• No prepayment.

• Late fee: $28 after 15 days.

Key facts

Pros

• Offers co-sign, joint and secure loan options.

• Able to fund loans within one business day.

• Offers direct payment to creditors with debt consolidation loans.

• Offers wide range of loan amounts and repayment terms.

• No origination or prepayment fees.

Cons

• Exclusive to credit union members.

• Reports payments to only one of the three major credit bureaus.

• No rate discount for autopay.

Qualifications

• Minimum credit score: 660.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: None.

• Prepayment fee: None.

Key facts

Pros

• No origination or prepayment fee.

• Joint loan option.

• Offers wide range of loan amounts and repayment terms.

• Rate discount for autopay.

• Able to fund loans on same or next business day.

Cons

• No option to pre-qualify.

• Some features only available to existing customers.

Qualifications

• Must provide personal and contact information.

• Must provide employment and income information; documentation may be required to verify this information.

• Must provide desired term and amount to borrow.

Available Term Lengths

1 to 7 years

Fees

• Origination fee: None.

• Late fee: $39.

Key facts

Pros

• Secured and joint loans.

• Multiple rate discounts.

• Mobile app to manage loan payments.

• Direct payment to creditors with debt consolidation loans.

• Long repayment terms on home improvement loans.

Cons

• Origination fee.

• No option to choose your payment date.

Qualifications

• Minimum credit score: 560.

• Minimum number of accounts on credit history: 1 account.

• Maximum debt-to-income ratio: 75%, including the loan you're applying for.

• Minimum length of credit history: 2 years.

• Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: 1.85% to 8%.

• Late Fee: $10.

• Failed payment fee: $10.

Disclaimer

Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 6.95%-35.97%. All personal loans have a 1.85% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early.

Key facts

Pros

• Offers direct payment to creditors with debt consolidation loans.

• Fast funding.

• Offers multiple rate discounts.

• Offers free credit score access.

Cons

• Charges origination fee.

• Borrowers can choose from only two repayment term options.

Qualifications

• Minimum credit score: 560.

• Minimum number of accounts on credit history: 1 account.

• Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.

• Minimum length of credit history: 2 years.

• Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 5.25% to 8%.

• Late fee: Up to $10.

Disclaimer

Personal loans made through Universal Credit feature Annual Percentage Rates (APRs) of 11.69%-35.93%. All personal loans have a 5.25% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 36 to 60 months. For example, if you receive a $10,000 loan with a 36-month term and a 28.47% APR (which includes a 22.99% yearly interest rate and a 7% one-time origination fee), you would receive $9,300 in your account and would have a required monthly payment of $387.05. Over the life of the loan, your payments would total $13,933.62. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early .