BEST OF

53 PL Test RoundUp

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NerdWalletJun 21, 2021

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

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This page lists all product cards currently available for Personal Loans.

Summary of PL Test RoundUp

Our pick for

Partner personal loan lenders

Avant
See my rates

on NerdWallet's secure website

Avant

3.5

NerdWallet rating 
Avant

Est. APR

9.95 - 35.95%

Loan Amount

$2,000 - $35,000

Min. Credit Score

550
See my rates

on NerdWallet's secure website


Min. Credit Score

550

Key facts

Avant's low starting rates make it a good option for borrowers with low credit scores and income.

Pros

  • Able to fund loans the next business day.

  • Option to change your payment date.

  • Soft credit check with pre-qualification.

Cons

  • Charges an origination fee.

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

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

Qualifications

  • Minimum credit score of 550.

Available Term Lengths

2 to 5 years

Fees

  • Administrative fee: Up to 4.75%.

  • Late fee: $25 (most states).

  • Unsuccessful payment fee: $15 (most states).

Disclaimer

A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33. Minimum loan amounts may vary by state. If approved, the actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. An administration fee of up to 4.75% will be deducted from the loan proceeds. Avant branded credit products are issued by Webbank, member FDIC

Read Full Review
BestEgg
Check rate

on Best Egg's website

Best Egg

4.0

NerdWallet rating 
BestEgg

Est. APR

5.99 - 29.99%

Loan Amount

$2,000 - $50,000

Min. Credit Score

640
Check rate

on Best Egg's website


Min. Credit Score

640

Key facts

Best Egg offers personal loans for borrowers who want to consolidate debt and need cash fast.

Pros

  • Competitive rates among fair-credit lenders.

  • Able to fund loans within one business day.

  • Secured loan option for homeowners.

Cons

  • Charges origination fee.

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

  • Borrowers can choose from only two repayment term options.

Qualifications

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

  • Minimum credit history: 3 years and 3 accounts.

  • Minimum income: No minimum income requirement; borrower average is $80,000. Borrower must have enough cash flow to cover current financial obligations.

  • Minimum 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% - 5.99%.

  • 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 4.99%–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%–5.99% 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.

Read Full Review
Discover
Check rate

on Discover's website

Discover® Personal Loans

5.0

NerdWallet rating 
Discover

Est. APR

6.99 - 24.99%

Loan Amount

$2,500 - $35,000

Min. Credit Score

660
Check rate

on Discover's website


Min. Credit Score

660

Key facts

Discover personal loans can be a smart way to consolidate or refinance debt for borrowers with excellent credit.

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: 660; 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 $25,000.

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 6.99%-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 6.99% APR for a term of 72 months, you’ll pay just $256 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.

Read Full Review
Earnest
See my rates

on NerdWallet's secure website

Earnest Personal Loan

5.0

NerdWallet rating 
Earnest

Est. APR

5.99 - 17.24%

Loan Amount

$5,000 - $75,000

Min. Credit Score

680
See my rates

on NerdWallet's secure website


Min. Credit Score

680

Key facts

Earnest is a good option if you're new to credit and responsible with money. Offers low rates and no fees.

Pros

  • No fees.

  • Flexible payments.

Cons

  • No co-sign or secured loan options.

  • Requires permission to scan checking account.

Qualifications

  • Minimum credit score: 680.

  • Proof of consistent income.

  • No open collections accounts.

  • Live in the District of Columbia or a state other than Alabama, Delaware, Kentucky, Nevada or Rhode Island.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application. Earnest offers personal loans with fixed interest rates between 6.99% APR and 18.24% APR for three, four, or five year terms. Earnest rate ranges are current as of 07/03/2019 and are subject to change based on market conditions and borrower eligibility. The information provided on this page is updated as of 07/03/19. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 303 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our personal loan product.

Read Full Review
FreedomPlus
Check rate

on FreedomPlus's website

FreedomPlus

3.5

NerdWallet rating 
FreedomPlus

Est. APR

7.99 - 29.99%

Loan Amount

$7,500 - $50,000

Min. Credit Score

620
Check rate

on FreedomPlus's website


Min. Credit Score

620

Key facts

FreedomPlus is best for debt consolidation, with low starting rates and direct payment to creditors.

Pros

  • Option to choose and change your payment date.

  • Offers direct payment to creditors with debt consolidation loans.

  • Soft credit check with pre-qualification.

  • Joint loan option.

Cons

  • Charges origination fee.

  • High minimum loan amount.

  • No secured or co-signed loan option.

Qualifications

  • Minimum credit score: 620; borrower average is 700.

  • Minimum debt-to-income ratio: 45%, excluding mortgage; borrower average is 23%.

  • Minimum income: None; borrowers have an average household income of $120,000.

  • Minimum credit history: three years.

  • Minimum number of accounts on credit history: two.

  • No bankruptcy in the last 24 months.

Available Term Lengths

2 to 5 years

Fees

  • Origination fee: 1.99% - 4.99%.

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

  • Unsuccessful payment fee: $15.

Disclaimer

The loan terms presented are not guaranteed and APRs presented are estimates only. To obtain a loan you must submit additional information and documentation and all loans are subject to credit review and our approval process. The range of APRs is 7.99% to 29.99% and your actual APR will depend upon factors including your credit score, usage and history, the requested loan amount, the stated loan purpose, and the term of the requested loan. To qualify for a 7.99% APR loan, a borrower will need excellent credit on a loan for an amount less than $12,000.00, and with a term equal to 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings, could help you also qualify for the lowest rate available. All loans are made by Cross River Bank and MetaBank®, N.A., Members FDIC.

Read Full Review
Lending Club
Check rate

on LendingClub's website

LendingClub

4.0

NerdWallet rating 
Lending Club

Est. APR

7.04 - 35.89%

Loan Amount

$1,000 - $40,000

Min. Credit Score

600
Check rate

on LendingClub's website


Min. Credit Score

600

Key facts

LendingClub is a pioneer of peer-to-peer lending and a good option if you want to consolidate your debt.

Pros

  • Offers co-signed and joint loan options.

  • Offers direct payment to creditors with debt consolidation loans.

  • Soft credit check with pre-qualification.

Cons

  • Borrowers can only choose from two repayment term options.

  • Rates are high compared to other fair-credit lenders.

  • Charges an origination fee.

Qualifications

  • Minimum credit score of 600. LendingClub uses FICO 8 credit scoring model.

  • Minimum credit history of three years.

  • Debt-to-income ratio of less than 40% for single applications, 35% combined for joint applicants.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 1% 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.

Read Full Review
LendingPoint
Check rate

on LendingPoint's website

LendingPoint

4.0

NerdWallet rating 
LendingPoint

Est. APR

9.99 - 35.99%

Loan Amount

$2,000 - $36,500

Min. Credit Score

580
Check rate

on LendingPoint's website


Min. Credit Score

580

Key facts

LendingPoint accepts low credit scores and has flexible payments. Rates are high but comparable to competitors.

Pros

  • Soft credit check with pre-qualification.

  • Option to choose and change your payment date.

  • Can fund a loan the business day after approval.

Cons

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

  • Rates are high compared to other bad-credit lenders.

  • Reports payments to two of the three major credit bureaus.

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

Qualifications

  • Minimum credit score of 600; borrowers’ average is 670. LendingPoint uses the FICO 9 credit scoring model.

  • At least $20,000 in annual income; average customer earns $85,000.

  • Debt-to-income ratio of less than 40%; average customer is 15%.

Available Term Lengths

2 to 4 years

Fees

  • Origination fee: 0% - 6%.

  • Late fee: $30 after 15-day grace period.

Disclaimer

Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon LendingPoint's final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $2,000 to $25,000, at rates ranging from a low of 15.49% APR to a high of 34.99% APR, with terms from 24 to 48 months.

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Lightstream
Check rate

on LightStream's website

LightStream

5.0

NerdWallet rating 
Lightstream

Est. APR

2.49 - 19.99%

Loan Amount

$5,000 - $100,000

Min. Credit Score

660
Check rate

on LightStream's website


Min. Credit Score

660

Key facts

LightStream targets strong-credit borrowers with no fees and low rates that vary based on loan purpose.

Pros

  • No fees.

  • Competitive rates among online lenders.

  • Offers .5% rate discount for setting up autopay.

  • Special features including rate beat program and satisfaction guarantee.

Cons

  • No option to pre-qualify on its website.

  • Requires several years of credit history.

  • Does not offer 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

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. AutoPay discount of .50% points is only available when selected prior to loan funding. Rates without AutoPay will be .50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 6.14% APR with a term of 3 years would result in 36 monthly payments of $304.85. Truist Bank is an Equal Housing Lender. ©2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Read Full Review
Marcus by Goldman Sachs
Check rate

on Goldman Sachs's website

Marcus by Goldman Sachs

5.0

NerdWallet rating 
Marcus by Goldman Sachs

Est. APR

6.74 - 19.74%

Loan Amount

$3,500 - $40,000

Min. Credit Score

660
Check rate

on Goldman Sachs's website


Min. Credit Score

660

Key facts

Marcus personal loans stand out with zero fees and a wide range of repayment terms.

Pros

  • No fees.

  • Wide variety of repayment term options.

  • Offers .25% 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: 660 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. 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.

Read Full Review
OneMain
Check rate

on OneMain Financial's website

OneMain Financial

4.0

NerdWallet rating 
OneMain

Est. APR

18.00 - 35.99%

Loan Amount

$1,500 - $20,000

Min. Credit Score

None
Check rate

on OneMain Financial's website


Min. Credit Score

None

Key facts

OneMain is an option for bad-credit borrowers, but it comes with high starting rates and an origination fee.

Pros

  • Option to choose your payment date.

  • Offers joint and secured loans.

  • Able to fund a loan the same or next business day.

  • Offers direct payment to creditors on debt consolidation loans.

Cons

  • Rates are high compared to other online lenders.

  • Charges origination fee.

  • No rate discount for autopay.

Qualifications

  • Minimum credit score: None.

  • Minimum income: None; average is $45,000.

Available Term Lengths

2 to 5 years

Fees

  • Origination fee: $25 to $400 or 1 - 10%.

Disclaimer

Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600. Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

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Payoff
Check rate

on Payoff's website

Payoff

4.5

NerdWallet rating 
Payoff

Est. APR

5.99 - 24.99%

Loan Amount

$5,000 - $40,000

Min. Credit Score

600
Check rate

on Payoff's website


Min. Credit Score

600

Key facts

Payoff offers loans and ongoing support to help fair- and good-credit borrowers consolidate credit card debt.

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.

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Prosper
Check rate

on Prosper's website

Prosper

3.5

NerdWallet rating 
Prosper

Est. APR

7.95 - 35.99%

Loan Amount

$2,000 - $40,000

Min. Credit Score

600
Check rate

on Prosper's website


Min. Credit Score

600

Key facts

Peer-to-peer lender Prosper has rates and fees that compare to other lenders for good-credit borrowers.

Pros

  • Option to change your payment date.

  • Offers joint loan.

  • Offers wide range of loan amounts. 


Cons

  • No rate discount for autopay.

  • Charges origination and late fees.

  • Borrowers can choose from only two repayment term options.

Qualifications

  • Minimum credit score: 640; borrower average is 726.

  • Minimum credit history: 2 years.

  • Minimum income: No minimum income requirement; borrower average is $113,000.

  • Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 18% with housing payment.

  • No bankruptcies filed within the past year.

  • At least three open accounts on credit report.

  • Fewer than five credit bureau inquiries in the last six months.

  • Must be at least 18 years old.

  • Must provide Social Security number and a U.S. bank account.


Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 2.41 to 5%.

  • Late fee: $15 or 5% of unpaid amount (whichever is greater).

  • Insufficient funds fee: $15.

Disclaimer

For example, a three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 2.41%-5%. Personal loan APRs through Prosper range from 7.95% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank, Member FDIC.

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RocketLoans
See my rates

on NerdWallet's secure website

Rocket Loans

4.0

NerdWallet rating 
RocketLoans

Est. APR

5.97 - 29.69%

Loan Amount

$2,000 - $45,000

Min. Credit Score

640
See my rates

on NerdWallet's secure website


Min. Credit Score

640

Key facts

Rocket Loans offers online personal loans to borrowers with fair credit and over two years of credit history.

Pros

  • Soft credit check with pre-qualification.

  • Competitive rates among fair-credit lenders.

  • Offers a .3% 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.

Read Full Review
SoFi
Check rate

on SoFi's website

SoFi

5.0

NerdWallet rating 
SoFi

Est. APR

4.99 - 19.63%

Loan Amount

$5,000 - $100,000

Min. Credit Score

680
Check rate

on SoFi's website


Min. Credit Score

680

Key facts

SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.

Pros

  • No fees.

  • Offers co-sign and joint loan options.

  • Offers .25% rate discount for setting up autopay.

  • Offers unemployment protection.

  • Provides mobile app to manage your loan.

Cons

  • No secured loan option.

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 4.99% APR to 19.63% APR (with AutoPay). SoFi rate ranges are current as of August 11, 2021 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.

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Upgrade
Check rate

on Upgrade's website

Upgrade

5.0

NerdWallet rating 
Upgrade

Est. APR

5.94 - 35.47%

Loan Amount

$1,000 - $50,000

Min. Credit Score

560
Check rate

on Upgrade's website


Min. Credit Score

560

Key facts

Upgrade offers personal loans plus credit-building tools; you'll need strong cash flow to qualify.

Pros

  • Allows secured and joint loans.

  • Offers a wide range of repayment terms.

  • Offers a 0.5% rate discount for setting up autopay.

  • Offers significant rate discount for checking account customers.

  • Offers rate discount with direct payment to creditors on debt consolidation loans.

Cons

  • Charges origination fee.

  • No co-signed loan option.

Qualifications

  • Minimum credit score: 560.

  • Minimum annual income: $35,000; average borrower income is $87,000.

  • Minimum credit history: 3 years.

  • Minimum number of accounts on credit history: 2.

  • Minimum monthly free cash flow: $800.

  • Maximum debt-to-income ratio: Varies between 55% and 65% including the loan you’re applying for and mortgage payments. To see your post-loan DTI, calculate your monthly payments on a personal loan, and then add them to your debt-to-income calculation.

  • Average loan amount is $10,000.

  • Average repayment term is 40 months.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: 2.9% to 8%.

Disclaimer

Personal loans made through Upgrade feature APRs of 5.94%-35.47%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% 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 $343.33. Over the life of the loan, your payments would total $12,359.97. 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. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

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Upstart
Check rate

on Upstart's website

Upstart

4.5

NerdWallet rating 
Upstart

Est. APR

6.76 - 35.99%

Loan Amount

$1,000 - $50,000

Min. Credit Score

580
Check rate

on Upstart's website


Min. Credit Score

580

Key facts

Upstart is a good option for those who have short credit histories and promising financial futures.

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: 580.

  • 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

The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 24.4% and 36 monthly payments of $36 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. 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.

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Laurel Road Personal Loan
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Laurel Road Personal Loan

5.0

NerdWallet rating 
Laurel Road Personal Loan

Est. APR

7.00 - 24.75%

Loan Amount

$5,000 - $45,000

Min. Credit Score

700
See my rates

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Min. Credit Score

700

Key facts

Laurel Road offers medium to large online loans with an autopay discount, minimal fees and special terms for healthcare professionals.

Pros

  • Option to include a co-signer.

  • No origination fee.

  • Offers a .25% 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.

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Barclays Personal Loan
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Barclays Personal Loan

4.5

NerdWallet rating 
Barclays Personal Loan

Est. APR

4.99 - 20.99%

Loan Amount

$5,000 - $35,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Barclays is good for consolidating debt if you have strong credit. May directly pay off up to five credit cards.

Pros

  • No fees.

  • Low starting rates.

  • Offers option to directly pay creditors.

Cons

  • No refinancing option.

  • Lacks co-sign option.

Qualifications

  • Good or excellent credit.

  • Proven ability to manage credit.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: None.

  • Late fee: None.

Read Full Review
Earnin
See my rates

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Earnin

Not yet rated

Earnin

Est. APR

N/A

Loan Amount

$100 - $500

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Earnin is a paycheck advance app for on-demand or hourly workers that's best used only occasionally.

Pros

  • No fees or interest.

  • Fast funding.

  • No credit check required.

Cons

  • Requires sensitive financial information.

  • May lead to poor financial habits.

Qualifications

  • Hourly, salaried or on-demand job.

  • Get paid by direct deposit.

  • Provide access to the checking account to which your paycheck is directly deposited, and connect the account to receive your cash out.

  • Upload a timesheet or turn on location services to let the app know you went to work.

Fees

  • $0; optional "tip" up to $14

Read Full Review

Our pick for

Non-partner personal loan lenders

Acima
See my rates

on NerdWallet's secure website

Acima

Not yet rated

Acima

Est. APR

N/A

Loan Amount

$500 - $5,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Acima offers lease-to-own financing, but can be costly if you don't quickly repay the lease in full.

Pros

  • Can qualify with bad credit.

  • Fast funding.

  • Soft credit check.

Cons

  • High-cost financing option.

  • Customer complaints.

Qualifications

  • Minimum credit score: None.

  • Minimum income: $1,000 per month in checking account over at least 3 months.

  • Must have no non-sufficient funds, overdrafts or negative balances on a checking account.

Available Term Lengths

3 months to 2 years

Fees

  • Purchase fee: Varies by states, but typically $25.

  • See your lease agreement for full breakdown of fees.

Read Full Review
Affirm
See my rates

on NerdWallet's secure website

Affirm

Not yet rated

Affirm

Est. APR

N/A

Loan Amount

$0 - $17,500

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Affirm may be a fit for borrowers who receive a low interest rate and can afford the monthly payments.

Pros

  • No-interest financing available.

  • No fees.

  • Offers pre-qualification.

Cons

  • Could receive a high interest rate.

  • Does not report on-time payments to the three credit bureaus.

  • Not available at all retailers.

Qualifications

  • No minimum credit score.

  • No minimum credit history.

Available Term Lengths

3 months to 1 year

Fees

  • No fees.

Read Full Review
American Express Personal Loan
See my rates

on NerdWallet's secure website

American Express Personal Loan

4.0

NerdWallet rating 
American Express Personal Loan

Est. APR

4.93 - 19.97%

Loan Amount

$3,500 - $40,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

American Express offers a no-frills loan that’s best for existing customers who want to consolidate credit card debt.

Pros

  • Offers direct payment to creditors with debt consolidation loans.

  • No origination or prepayment fees.

  • No hard credit check.

  • Includes free access to credit monitoring.

Cons

  • Exclusive to preapproved cardholders.

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

  • No rate discount for autopay.

Qualifications

  • To be eligible for a personal loan, you must be a pre-approved cardholder.

Available Term Lengths

1 to 3 years

Fees

  • Origination fee: None.

  • Late fee: $39.

  • Unsuccessful payment fee: $39.

  • Prepayment fee: None.

Read Full Review
Backed
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on NerdWallet's secure website

Backed

3.0

NerdWallet rating 
Backed

Est. APR

2.90 - 15.99%

Loan Amount

$3,000 - $25,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Backed specializes in loans for borrowers who are "backed" by a co-signer. It lends in only a few states.

Pros

  • Co-sign option.

  • Low starting rates.

  • No prepayment fee.

Cons

  • Origination fee.

  • Available in a limited number of states.

Qualifications

  • Co-signer's minimum credit score: 720.

  • Co-signer's minimum annual income: $50,000.

  • No debt-to-income ratio specified.

  • No minimum credit score.

  • No minimum annual income.

  • No debt-to-income ratio specified.

Available Term Lengths

1 to 3 years

Fees

  • Origination fee: 0.8% - 2%.

Read Full Review
Capital Good Fund
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Capital Good Fund

Not yet rated

Capital Good Fund

Est. APR

5.00 - 15.99%

Loan Amount

$300 - $50,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Capital Good Fund is a lower-cost alternative to payday loans, with fast funding and consumer-first features.

Pros

  • Low rates on small-dollar loans.

  • Application decisions made within a couple of days.

  • Accepts bad credit and thin credit histories.

Cons

  • Available in limited number of states.

Qualifications

  • Must live in Colorado, Delaware, Illinois, Florida, Massachusetts, Rhode Island or Texas.

Available Term Lengths

1 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Read Full Review
Citibank
See my rates

on NerdWallet's secure website

Citibank

3.5

NerdWallet rating 
Citibank

Est. APR

6.74 - 23.99%

Loan Amount

$2,000 - $30,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Citibank provides personal loans for good credit borrowers, but lacks some consumer-friendly features.

Pros

  • No origination or prepayment fees.

  • Offers mobile app to manage loan.

  • Offers a 0.50 percentage point rate discount for setting up autopay.

Cons

  • No option pre-qualify.

  • Must be an existing bank customer.

  • No option to choose or change your payment date.

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

Qualifications

  • Minimum credit score: None; the majority of borrowers have a FICO score of 680 or higher, according to a 2020 Securities and Exchange Commission filing.

  • Minimum annual income: $10,500.

  • An eligible Citi deposit account open for at least three months or an eligible Citi credit card account open for at least 12 months.

  • No more than one open Citibank personal loan, which must be at least six months old.

Available Term Lengths

1 to 5 years

Fees

  • Origination fee: None.

  • Late fee: $25.

Read Full Review
Citizens Bank
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Citizens Bank

4.5

NerdWallet rating 
Citizens Bank

Est. APR

6.78 - 20.88%

Loan Amount

$5,000 - $50,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Citizens Bank targets borrowers with good credit, offering rate discounts and a co-sign option.

Pros

  • No fees.

  • Autopay discount.

  • Co-sign option.

Cons

  • Lacks flexible payment options.

  • Does not offer direct payment to creditors.

Qualifications

  • At least 18 years old (19 in Alabama; 21 in Puerto Rico).

  • Good credit history.

  • Minimum annual income of $24,000.

Available Term Lengths

3 to 7 years

Fees

  • Origination fee: None.

Read Full Review
Finova
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Finova

Not yet rated

Finova

Est. APR

17.00 - 30.00%

Loan Amount

$750 - $5,000

Min. Credit Score

350
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on NerdWallet's secure website


Min. Credit Score

350

Key facts

Finova gives auto equity loans that require you to pledge your car as collateral.

Pros

  • Fast funding.

  • Accepts bad credit.

Cons

  • High rates and fees.

  • Available in a limited number of states.

Qualifications

  • Have a fully paid-off vehicle with proof of comprehensive and collision insurance coverage.

Available Term Lengths

1 to 2 years

Fees

  • Origination fee: None.

Read Full Review
First Tech Credit Union Personal Loan
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on NerdWallet's secure website

First Tech Credit Union Personal Loan

5.0

NerdWallet rating 
First Tech Credit Union Personal Loan

Est. APR

6.70 - 18.00%

Loan Amount

$500 - $50,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

First Tech offers loans for its members, with low starting rates and no origination fee.

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.

Cons

  • No option to pre-qualify.

  • No rate discount for autopay.

  • No option to change your payment date.

  • Exclusive to credit union members.

Qualifications

  • No minimum credit score required.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Prepayment fee: None.

  • Late payment: Up to $15.

  • Returned payment: $28.

Read Full Review
Greensky
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Greensky

Not yet rated

Greensky

Est. APR

4.99 - 23.99%

Loan Amount

$0 - $65,000

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

GreenSky offers home improvement financing at competitive rates and terms.

Pros

  • Fast funding.

  • Low rates.

  • High loan amounts.

Cons

  • Hard credit pull.

  • Good to excellent credit required.

Qualifications

  • Minimum credit score: None, but typically above 680.

  • Minimum income: None.

  • Minimum debt-to-income ratio: None.

  • Available in all 50 states.

Available Term Lengths

5 to 12 years

Fees

  • Account activation fee: $39.

Read Full Review
Klarna
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Klarna

Not yet rated

Klarna

Est. APR

19.99%

Loan Amount

N/A

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Klarna may be a fit for borrowers who are shopping for a big-ticket item and can comfortably afford the monthly payments.

Pros

  • No-interest financing options.

  • No prepayment fees.

  • Access to exclusive deals.


Cons

  • Offers small loan amounts.

  • Charges late fee.

  • Doesn’t report on-time payments to the credit bureaus.


Qualifications

  • No minimum credit score.

  • No minimum credit history.

Available Term Lengths

1 month to 3 years

Fees

  • Origination fee: None.

  • Late fee: Up to $7.

  • Returned payment fee: $35.

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LendUp Installment Loan
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LendUp Installment Loan

2.0

NerdWallet rating 
LendUp Installment Loan

Est. APR

30.00 - 180.00%

Loan Amount

$100 - $400

Min. Credit Score

None
See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

LendUp has multiple loan options for bad-credit borrowers, but rates can be as high as payday loans.

Pros

  • No credit check required.

  • Fast funding.

  • Payment flexibility options.

Cons

  • High rates.

  • Offers a product similar to a payday loan.

  • Installment loan rates are high compared to other installment loans.

  • Available in a limited number of states.

Qualifications

  • Have a checking account that accepts ACH transfers.

  • Live in one of the states where LendUp accepts borrowers: CA, LA, MS, MO, TN, TX, WI.

Available Term Lengths

3 months to 1 year

Fees

  • Origination fee: None.

Read Full Review
Mariner
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Mariner

2.5

NerdWallet rating 
Mariner

Est. APR

18.99 - 35.99%

Loan Amount

$1,000 - $25,000

Min. Credit Score

600
See my rates

on NerdWallet's secure website