BEST OF

49 PL Test RoundUp

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NerdWalletJune 26, 2020
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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

on Avant's website

Avant

Min. Credit Score

580

Est. APR

9.95 - 35.99%

Loan Amount

$2,000 - $35,000

on Avant's website


Min. Credit Score

580

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 within one business day.

  • Soft credit check with pre-qualification.

  • Option to change your payment date.

Cons

  • Charges origination fee.

  • No option to include co-signer.

Qualifications

  • Minimum credit score of 580.

  • At least $20,000 in gross annual income.

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

on Best Egg's website

Best Egg

BestEgg

Min. Credit Score

640

Est. APR

5.99 - 29.99%

Loan Amount

$2,000 - $35,000

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

  • Able to fund loans within one business day.

  • Soft credit check with pre-qualification.

  • Option to change your payment date.

Cons

  • Charges origination fee.

  • Charges $15 late fee.

Qualifications

  • Minimum credit score: 640; average is 700. This lender uses the FICO 8 credit score to evaluate borrowers.

  • Minimum credit history: 3 years and 3 accounts.

  • Minimum annual income: Not specified, but average is $80,000.

  • Minimum debt-to-income ratio: 40% or 65% including a mortgage.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 0.99% - 5.99%.

  • Late fee: $15.

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

Disclaimer

*Trustpilot TrustScore as of June 2020. Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. “Best Egg” is a trademark of Marlette Funding, LLC. All uses of “Best Egg” refer to “the Best Egg personal loan” and/or “Best Egg on behalf of Cross River 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 sc-ore, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000–$35,000. 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 5.99%–29.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–6.99% 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

on Discover's website

Discover® Personal Loans

Discover

Min. Credit Score

660

Est. APR

6.99 - 24.99%

Loan Amount

$2,500 - $35,000

on Discover's website


Min. Credit Score

660

Key facts

Discover is ideal for consumers with good to excellent credit who want to consolidate high-interest debt.

Pros

  • No origination fee.

  • Option to directly pay creditors.

  • Flexible payment options.

Cons

  • Charges late fees.

  • No refinancing option.

Qualifications

  • Minimum credit score required: 660; borrowers' average score is about 750.

  • Minimum credit history: Not provided.

  • Maximum debt-to-income ratio: Not provided.

Available Term Lengths

3 to 5 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. Not all applications will be approved.
Read Full Review
Earnest
See my rates

on NerdWallet's secure website

Earnest Personal Loan

Earnest

Min. Credit Score

680

Est. APR

5.99 - 17.24%

Loan Amount

$5,000 - $75,000

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

on FreedomPlus's website

FreedomPlus

FreedomPlus

Min. Credit Score

620

Est. APR

7.99 - 29.99%

Loan Amount

$7,500 - $40,000

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

  • Offers co-signed and joint loans.

  • Offers direct payment to creditors with debt consolidation loans.

  • No prepayment fee.

Cons

  • May charge origination fee.

  • High minimum loan amount.

  • Charges late fee of $15 or 5%, whichever is greater.

Qualifications

  • Minimum credit score of 620. Borrowers' average is 690. The company uses the FICO 8 credit scoring model.

  • At least $40,000 in annual income. Borrowers’ average is $80,800. Joint applicants’ average is $107,200 combined.

  • Debt-to-income ratio: Less than 40%, not including mortgage. Average borrowers have a DTI of 20%.

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
See my rates

on NerdWallet's secure website

LendingClub

Lending Club

Min. Credit Score

600

Est. APR

10.68 - 35.89%

Loan Amount

$1,000 - $40,000

See my rates

on NerdWallet's secure 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 direct payment to creditors with debt consolidation loans.

  • Joint loan option.

  • Soft credit check with pre-qualification.

Cons

  • Charges origination fee and late fees.

  • Does not offer mobile app to manage your loan.

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: 2% to 6%

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

Disclaimer

*All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history. The APR ranges from 10.68% to 35.89%. The origination fee ranges from 1% to 6% of the original principal balance and is deducted from your loan proceeds. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at the time of application. The average origination fee is 5.49% as of Q1 2017. In Georgia, the minimum loan amount is $3,025. In Massachusetts, the minimum loan amount is $6,025 if your APR is greater than 12%. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months. Borrower must be a U.S. citizen, permanent resident or be in the United States on a valid long-term visa and at least 18 years old. Valid bank account and Social Security number are required. Equal Housing Lender. All loans are subject to credit approval. LendingClub’s physical address is: 595 Market St suite 200 San Francisco Ca 94105. **Based on approximately 60% of borrowers who received offers through LendingClub’s marketing partners between Jan. 1, 2018, and July 20, 2018. The time it will take to fund your loan may vary.
Read Full Review
LendingPoint

on LendingPoint's website

LendingPoint

LendingPoint

Min. Credit Score

585

Est. APR

15.49 - 35.49%

Loan Amount

$2,000 - $25,000

on LendingPoint's website


Min. Credit Score

585

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.

  • No prepayment fee.

  • Option to change your payment date.

Cons

  • May charge an origination fee.

  • No co-sign or secured loan options.

Qualifications

  • Minimum credit score of 585; 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%.

  • LendingPoint is unavailable to borrowers in West Virginia.

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.
Read Full Review
Lightstream

on LightStream's website

LightStream

Lightstream

Min. Credit Score

660

Est. APR

3.99 - 16.99%

Loan Amount

$5,000 - $100,000

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.

  • Rate discount for autopay.

  • Low starting rates.

Cons

  • Does not offer pre-qualification on its website.

  • Requires several years of credit history.

Qualifications

  • Minimum credit score of 660.

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

  • Maximum debt-to-income ratio varies depending on existing assets and the reason for the loan.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

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). Rate quote includes AutoPay discount. AutoPay discount is only available when selected prior to loan funding. 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 $5,000 loan at 12.8% APR with a term of 3 years would result in 36 monthly payments of $168. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. SunTrust now Truist is an Equal Housing Lender. © 2020 Truist Financial Corporation. SunTrust®, Truist, LightStream®, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All rights reserved. All other trademarks are the property of their respective owners. Lending services provided by SunTrust now Truist Bank.
Read Full Review
Marcus by Goldman Sachs

on Goldman Sachs's website

Marcus by Goldman Sachs

Marcus by Goldman Sachs

Min. Credit Score

680

Est. APR

6.99 - 19.99%

Loan Amount

$3,500 - $40,000

on Goldman Sachs's website


Min. Credit Score

680

Key facts

Marcus loans stand out for low rates, no fees, and flexible loan terms and payment options.

Pros

  • No fees.

  • Flexible payment options.

  • Directly pays creditors for debt consolidation loans.

  • Rate discount with autopay.

Cons

  • No option to include co-signer.

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

Qualifications

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

  • Valid U.S. bank account, Social Security number or tax ID.

  • 680+ credit score.

  • For debt consolidation loans, you may be required to send part of the loan directly to your creditors.

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.
Read Full Review
OneMain

on OneMain Financial's website

OneMain Financial

OneMain

Min. Credit Score

None

Est. APR

18.00 - 35.99%

Loan Amount

$1,500 - $20,000

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

  • May fund a loan the same day.

  • Offers joint and secured loan options.

  • Free credit score access.

Cons

  • Charges origination fee.

  • Rates are high compared to other lenders that serve similar borrowers.

Qualifications

  • Minimum credit score: None, average is 626

  • Minimum credit history: Not provided.

  • Minimum annual income: None, average is $49,000.

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 $400. 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: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $14,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Read Full Review
Payoff

on Payoff's website

Payoff

Min. Credit Score

640

Est. APR

5.99 - 24.99%

Loan Amount

$5,000 - $40,000

on Payoff's website


Min. Credit Score

640

Key facts

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

Pros

  • Competitive rates among similar lenders.

  • Offers online educational resources.

  • Offers direct payment to creditors with debt consolidation loans.

Cons

  • No co-sign or secured loan option.

  • Charges origination fee.

Qualifications

  • Minimum credit score of 640.

  • Minimum credit history: 3 years.

  • Minimum annual income: $40,000.

  • Debt-to-income ratio: less than 50%.

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.
Read Full Review
Prosper

on Prosper's website

Prosper

Prosper

Min. Credit Score

630

Est. APR

7.95 - 35.99%

Loan Amount

$2,000 - $40,000

on Prosper's website


Min. Credit Score

630

Key facts

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

Pros

  • No prepayment fee.

  • Option to change your payment date.

  • Offers joint loan option.

Cons

  • Charges origination fee.

  • Charges late fee of $15 or 5% of the unpaid loan amount.

Qualifications

  • Minimum credit score: 640, but average is 717.

  • Minimum credit history: Two years, but average is 11.

  • Minimum annual income: None, but average is $89,000.

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

  • No bankruptcies filed within the last year.

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

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.
Read Full Review
RocketLoans
See my rates

on NerdWallet's secure website

Rocket Loans

RocketLoans

Min. Credit Score

580

Est. APR

7.16 - 29.99%

Loan Amount

$2,000 - $45,000

See my rates

on NerdWallet's secure website


Min. Credit Score

580

Key facts

Rocket Loans funds loans as fast as the next day. Its loans have low rates for borrowers with good credit.

Pros

  • Able to fund some loans the same day as approval.

  • Soft credit check with pre-qualification.

  • Rate discount for autopay.

Cons

  • Charges origination fee.

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

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

Qualifications

  • Minimum credit score: 580; borrowers’ average is 710. Rocket Loans uses the FICO 9 credit scoring model.

  • Maximum debt-to-income ratio: 40%; borrowers’ average is 14%. This lender doesn’t include a mortgage in its debt-to-income calculation.

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

  • Minimum credit history: Two years; borrowers’ average is 18 years.

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

on SoFi's website

SoFi

Min. Credit Score

680

Est. APR

5.99 - 18.53%

Loan Amount

$5,000 - $100,000

on SoFi's website


Min. Credit Score

680

Key facts

SoFi is a strong option for consumers with good to excellent credit, offering low rates, no fees and flexible payments.

Pros

  • Soft credit check with pre-qualify.

  • Flexible payment options.

  • Offers member perks.

Cons

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

  • Does not offer refinance options.

Qualifications

  • Minimum credit score: 680, but typically 700 or higher.

  • Minimum annual income: None; borrowers' average is over $100,000.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

Fixed rates from 5.99% APR to 18.53% APR (with AutoPay). SoFi rate ranges are current as of September 18, 2020 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. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. 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.
Read Full Review
Upgrade

on Upgrade's website

Upgrade

Upgrade

Min. Credit Score

580

Est. APR

7.99 - 35.97%

Loan Amount

$1,000 - $35,000

on Upgrade's website


Min. Credit Score

580

Key facts

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

Pros

  • Allows co-signed and joint loans.

  • Offers hardship program.

  • Offers direct payment to creditors with debt consolidation loans.

Cons

  • Charges origination fee.

  • Charges late fee.

Qualifications

  • Minimum credit score: 600.

  • Minimum annual income: None, but most applicants earn more than $30,000.

  • Minimum monthly free cash flow: $800.

  • Maximum debt-to-income ratio: 60%.

  • Unavailable to borrowers in: Iowa, Vermont and West Virginia.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 2.9% to 8%.

Disclaimer

Personal loans made through Upgrade feature APRs of 7.99%-35.97%. 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

on Upstart's website

Upstart

Upstart

Min. Credit Score

600

Est. APR

6.16 - 35.99%

Loan Amount

$1,000 - $50,000

on Upstart's website


Min. Credit Score

600

Key facts

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

Pros

  • Accepts borrowers new to credit.

  • Fast funding.

Cons

  • Origination and late fees.

  • No secured or co-sign option.

Qualifications

  • Minimum credit score: 600.

  • Minimum credit history: None.

  • Minimum annual income: $12,000.

  • Max debt-to-income ratio: 45%.

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

1)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 received 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. 2) § 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. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100. 3) ‡ 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 15% and 36 monthly payments of $33 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

Laurel Road Personal Loan

Min. Credit Score

660

Est. APR

8.01 - 22.81%

Loan Amount

$1,000 - $45,000

See my rates

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Min. Credit Score

660

Key facts

Laurel Road is a good-credit lender that stands out for no origination fees and a competitive rate-beat discount.

Pros

  • No origination or prepayment fees.

  • Co-sign option.

  • Autopay discounts.

Cons

  • Charges late fees.

  • Lacks flexible payment options.

Qualifications

  • Minimum credit score: 660.

  • Minimum income: None specified.

  • Debt-to-income ratio: Not disclosed.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: None.

  • Prepayment fees: None.

  • Late fees: 5% or $28, whichever is less.

Disclaimer

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Barclays Personal Loan
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Barclays Personal Loan

Barclays Personal Loan

Min. Credit Score

None

Est. APR

4.99 - 20.99%

Loan Amount

$5,000 - $35,000

See my rates

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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.

Disclaimer

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Earnin
See my rates

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Earnin

Not yet rated

Earnin

Min. Credit Score

None

Est. APR

N/A

Loan Amount

$100 - $500

See my rates

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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.

Available Term Lengths

Fees

  • $0; optional "tip" up to $14

Disclaimer

Read Full Review

Our pick for

Non-partner personal loan lenders

Acima
See my rates

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Acima

Not yet rated

Acima

Min. Credit Score

None

Est. APR

N/A

Loan Amount

$500 - $5,000

See my rates

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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 fees and interest.

  • 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 1 year

Fees

  • Rental agreement fees: $40.

Disclaimer

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Affirm
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Affirm

Not yet rated

Affirm

Min. Credit Score

None

Est. APR

N/A

Loan Amount

$0 - $17,500

See my rates

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Min. Credit Score

None

Key facts

Affirm provides no-fee loans for one-time purchases if you can't use a credit card or pay with cash.

Pros

  • No fees.

  • Soft credit check.

  • Fast funding.

Cons

  • High rates.

  • Available at select retailers.

Qualifications

  • No minimum credit score.

  • No minimum credit history.

Available Term Lengths

3 months to 3 years

Fees

  • Origination fee: None.

Disclaimer

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American Express
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American Express

American Express

Min. Credit Score

None

Est. APR

5.91 - 19.98%

Loan Amount

$3,500 - $40,000

See my rates

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Min. Credit Score

None

Key facts

American Express preapproves existing cardholders for its loans, which have competitive rates and no fees.

Pros

  • No origination fee.

  • Free credit score access.

  • Option to directly pay creditors.

Cons

  • Charges late fees.

  • No flexible payment options.

Qualifications

  • Get a preapproval offer.

  • Be the primary cardholder on an eligible American Express Card, and be in good status with American Express at the time of application.

Available Term Lengths

1 to 4 years

Fees

  • Origination fee: None.

  • Late fee: $39.

  • Unsuccessful payment fee: Amount not disclosed.

  • Prepayment fee: None.

Disclaimer

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Backed
See my rates

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Backed

Min. Credit Score

None

Est. APR

2.90 - 15.99%

Loan Amount

$3,000 - $25,000

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%.

Disclaimer

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Capital Good Fund
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Capital Good Fund

Not yet rated

Capital Good Fund

Min. Credit Score

None

Est. APR

10.00 - 24.00%

Loan Amount

$300 - $20,000

See my rates

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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

  • Accepts bad credit.

  • Fast funding.

Cons

  • Available in limited number of states.

Qualifications

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

  • Minimum credit score: None required.

  • Must have either a bank account or an approved prepaid card, with two months of statements.

  • Proof of purpose of the loan.

  • Verifiable form of income.

Available Term Lengths

1 to 4 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

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Citibank
See my rates

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Citibank

Citibank

Min. Credit Score

None

Est. APR

7.99 - 23.99%

Loan Amount

$2,000 - $50,000

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 fees.

  • Offers autopay discounts.

Cons

  • Must be an existing bank customer.

  • No flexible payment options.

  • No co-sign option.

Qualifications

  • Minimum credit score: Not provided, but typically above 680.

  • Minimum credit history: Not provided.

  • Minimum annual income: $10,500.

  • Maximum debt-to-income ratio: Not provided.

Available Term Lengths

1 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

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Citizens Bank
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Citizens Bank

Citizens Bank

Min. Credit Score

None

Est. APR

6.78 - 20.88%

Loan Amount

$5,000 - $50,000

See my rates

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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.

Disclaimer

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Finova
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Finova

Not yet rated

Finova

Min. Credit Score

350

Est. APR

17.00 - 30.00%

Loan Amount

$750 - $5,000

See my rates

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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.

Disclaimer

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First Tech Credit Union Personal Loan
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First Tech Credit Union Personal Loan

First Tech Credit Union Personal Loan

Min. Credit Score

None

Est. APR

7.70 - 18.00%

Loan Amount

$500 - $50,000

See my rates

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Min. Credit Score

None

Key facts

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

Pros

  • Does not charge origination fee.

  • Offers direct payment to creditors with debt consolidation loans.

  • Option to directly pay off creditors.

Cons

  • No option to pre-qualify.

  • Must meet membership requirements.

Qualifications

  • No minimum credit score required.

  • 2 years of credit history.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Prepayment fee: None.

  • Late payment: Up to $25.

  • Returned payment: $28.

Disclaimer

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Greensky
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Greensky

Not yet rated

Greensky

Min. Credit Score

None

Est. APR

4.99 - 23.99%

Loan Amount

$0 - $65,000

See my rates

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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.

Disclaimer

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Klarna
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Klarna

Not yet rated

Klarna

Min. Credit Score

None

Est. APR

19.99%

Loan Amount

$300

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Klarna works best if you receive a zero- or deferred-interest option and pay off the balance on time.

Pros

  • Fast funding.

  • No minimum credit score.

  • No origination fees.

Cons

  • Small loan amounts.

  • Costly if you can't repay balance in full quickly.

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 $35.

  • Returned payment fee: $35.

Disclaimer

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LendUp Installment Loan
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LendUp Installment Loan

LendUp Installment Loan

Min. Credit Score

None

Est. APR

30.00 - 180.00%

Loan Amount

$100 - $400

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.

Disclaimer

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Mariner
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Mariner

Mariner

Min. Credit Score

600

Est. APR

24.00 - 36.00%

Loan Amount

$1,000 - $25,000

See my rates

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Min. Credit Score

600

Key facts

Mariner provides fast loans for bad-credit borrowers, but charges high rates and fees.

Pros

  • Fast funding.

  • Co-sign option.

Cons

  • High rates.

  • May charge origination fee.

Qualifications

  • Minimum credit score: 600.

  • Minimum income: None specified; average is $35,000 to $45,000.

  • Debt-to-income ratio: Not specified.

Available Term Lengths

1 to 5 years

Fees

  • Origination fee: Varies by state.

  • Late fee: Varies by state.

Disclaimer

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Navy Federal Credit Union Personal Loan
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Navy Federal Credit Union Personal Loan

Navy Federal Credit Union Personal Loan

Min. Credit Score

None

Est. APR

7.49 - 18.00%

Loan Amount

$0 - $50,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Navy Federal is a good option for existing members, with low rates and no origination fee.

Pros

  • Competitive rates among credit unions.

  • No origination fee.

Cons

  • Must be a member of Navy Federal.

  • No option to pre-qualify.

Qualifications

  • No minimum qualification requirements.

  • Must meet membership requirements.

Available Term Lengths

1 to 5 years

Fees

  • Origination fee: None.

Disclaimer

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Oportun

on Oportun 's website

Oportun

Not yet rated

Oportun

Min. Credit Score

None

Est. APR

19.90 - 35.99%

Loan Amount

$300 - $10,000

on Oportun 's website


Min. Credit Score

None

Key facts

Oportun offers small loans at rates that are lower than payday loans, but still high. Fixed payments help you establish credit.

Pros

  • Financial education and counseling available.

  • Option to add a co-signer.

  • Can fund a loan within one business day.

Cons

  • Available in a limited number of states.

  • Rates are high compared to banks and other online lenders.

Qualifications

  • Proof of identity.

  • Proof of regular income.

  • Have a verified address and phone number.

  • Live in one of 12 states where Oportun operates.

Available Term Lengths

6 months to 4 years

Fees

Disclaimer

Loans subject to credit approval and may include an origination fee. Monthly payment options may not be available; Biweekly and semi-monthly payment options are standard. For example, a $5,000 loan in California would have 66 biweekly payments of $119 over 30 months at a 37.6% APR. Terms may vary by applicant and state and are subject to change. To apply, you must be at least 18 years old, must reside within our service area (AZ, CA, FL, ID, IL, MO, NJ, NM, NV, TX, UT and WI) and must not have applied for a loan with us during the past 90 days. While a prior credit history is not required to qualify, Oportun will request and consider credit checks for all applicants. California loans made pursuant to a California Financing Law License. For loans made in other states and for other information, visit oportun.com, which includes our state licenses. This is an advertisement for a consumer loan. ©2020 Oportun, Inc. All rights reserved.
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OppLoans
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OppLoans

OppLoans

Min. Credit Score

None

Est. APR

59.00 - 99.00%

Loan Amount

$500 - $4,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

OppLoans offers no-credit-check small loans with fast funding but high rates. You may have cheaper options.

Pros

  • Option to change your payment date.

  • Able to fund loans within 1-2 business days.

Cons

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

  • Short maximum repayment terms of up to 18 months in many states.

Qualifications

  • Minimum credit score: None required.

  • Minimum monthly gross income: $1,500.

  • Must be employed or receive benefits, like Social Security benefits. Borrowers cannot be self-employed.

  • Have a bank account in your name with 40 days of history.

  • Receive your paychecks through direct deposit.

  • Live in one of the states that OppLoans serves.

Available Term Lengths

0 month to 2 years

Fees

  • Origination fee: None.

Disclaimer

Not all applications are approved. Loan amounts range from $500 to $4,000 with annual percentage rates (APR) ranging from 59% to 99%. Loan lengths range from 6 to 24 months. Actual loan amounts and loan terms vary based on credit history, current income, ability to repay, and other factors. Example: A $1,000 loan repayable in 6 monthly installments with an APR of 99% would have monthly payments of $217.96. Loans may be issued by Opportunity Financial, LLC d/b/a OppLoans or one of our lending partners, depending on your state of residence. Personal loans issued by our lending partners are serviced by OppLoans. Information on the lending partners of OppLoans can be found at https://www.opploans.com/lending-partners/.
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Peerform
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Peerform

Peerform

Min. Credit Score

600

Est. APR

5.99 - 29.99%

Loan Amount

$4,000 - $25,000

See my rates

on NerdWallet's secure website


Min. Credit Score

600

Key facts

Peerform accepts low credit scores, with rates and terms similar to other bad-credit lenders.

Pros

  • Accepts borrowers with a high DTI ratio.

  • Accepts short credit history.

Cons

  • Charges origination fee.

  • No option to include co-signer.

  • Funding can take up to two weeks.

Qualifications

  • Minimum credit score: 600.

  • Minimum credit history: 1 year.

  • Minimum gross annual income: $10,000.

  • Debt-to-income ratio: 40% or lower, excluding mortgage.

Available Term Lengths

3 years

Fees

  • Origination fee: 1% to 5%.

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

Disclaimer

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PNC Bank Personal Loan
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PNC Bank Personal Loan

PNC Bank Personal Loan

Min. Credit Score

None

Est. APR

9.24 - 29.49%

Loan Amount

$1,000 - $20,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

PNC is a good option if you have an existing PNC account or want to bring along a co-signer.

Pros

  • Low rates.

  • Fast funding.

  • Co-sign option.

Cons

  • Hard credit pull at application.

  • Late fee.

  • Available in limited number of states.

Qualifications

  • No minimum credit score, income or debt-to-income ratio requirements disclosed.

  • Live in one of the states that PNC serves.

Available Term Lengths

6 months to 5 years

Fees

  • Origination fee: None.

  • Late fee: Greater of $40 or 10% of amount due, after 15-day grace period.

Disclaimer

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Rise
See my rates

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Rise

Min. Credit Score

None

Est. APR

50.00 - 299.00%

Loan Amount

$500 - $5,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

A Rise loan, for bad-credit consumers, is costly and best considered only after trying alternatives.

Pros

  • Accepts bad credit.

  • Fast funding.

  • Free credit score access.

Cons

  • High rates.

  • Hard credit pull.

  • Available in a limited number of states.

Qualifications

  • Have a job or regular source of income.

  • Have a checking account.

  • Live in one of the states that Rise serves.

Available Term Lengths

4 to 26 months

Fees

  • Origination fee: None.

Disclaimer

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USAA Personal Loan
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USAA Personal Loan

USAA Personal Loan

Min. Credit Score

None

Est. APR

6.99 - 17.65%

Loan Amount

$2,500 - $5,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Members of USAA can get competitive rates and terms on its unsecured personal loans.

Pros

  • Low rates.

  • No origination fee.

  • Fast funding.

Cons

  • Hard credit pull.

  • Must be a USAA member.

Qualifications

  • No minimum qualifications disclosed.

Available Term Lengths

1 to 7 years

Fees

  • Origination fee: None.

  • Late fee: 5% of payment amount.

Disclaimer

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U.S. Bank Personal Loan
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U.S. Bank Personal Loan

U.S. Bank Personal Loan

Min. Credit Score

None

Est. APR

6.49 - 16.49%

Loan Amount

$1,000 - $25,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

An option for existing U.S. Bank customers, with competitve interest rates and no origination fee.

Pros

  • No origination fee.

  • Co-sign option.

  • Offers autopay discounts.

Cons

  • Charges prepayment fee.

  • No option to pre-qualify.

  • Must be an existing bank customer.

Qualifications

  • Good or excellent credit.

  • U.S. Bank account open for at least 120 days.

  • Stable, sufficient income.

Available Term Lengths

1 to 5 years

Fees

  • Origination fee: None.

  • Late fee: $29 after 5-day grace period.

  • Unsuccessful payment fee: $25.

  • Prepayment fee: 1% of loan amount, ranging from $50 to $100 if loan is paid off within first 12 months.

Disclaimer

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US Bank Simple Loan
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US Bank Simple Loan

Not yet rated

US Bank Simple Loan

Min. Credit Score

None

Est. APR

71.00 - 88.00%

Loan Amount

$100 - $1,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

A small-loan option for U.S. Bank customers with bad credit or no credit history.

Pros

  • Rates are high compared with other bad credit lenders.

  • Offers small loans of $100

Cons

  • Must be an existing bank customer.

  • No option to pre-qualify.

Qualifications

  • Checking account customer for 6 months.

  • Direct deposit into account for 3 months.

Available Term Lengths

3 to 3 months

Fees

  • Origination fee: None.

Disclaimer

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Wells Fargo Personal Loan
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Wells Fargo Personal Loan

Wells Fargo Personal Loan

Min. Credit Score

600

Est. APR

5.49 - 24.49%

Loan Amount

$3,000 - $100,000

See my rates

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Min. Credit Score

600

Key facts

An option for existing Wells Fargo customers, offering rate discounts and a co-sign option.

Pros

  • Offers secured loan option.

  • Offers free credit score access.

  • Offers direct payment to creditors with debt consolidation loans.

Cons

  • Borrowers without existing Wells Fargo accounts required to apply in person.

  • No option to pre-qualify.

Qualifications

  • Minimum credit score: 600; most borrowers have scores above 660.

Available Term Lengths

1 to 7 years

Fees

  • Origination fee: None.

Disclaimer

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HSBC Personal Loan
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HSBC Personal Loan

HSBC Personal Loan

Min. Credit Score

700

Est. APR

6.99 - 22.90%

Loan Amount

$3,000 - $30,000

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Min. Credit Score

700

Key facts

The HSBC personal loan is an option for good-credit borrowers, and you don't have to bank with HSBC.

Pros

  • No origination fee.

  • Able to fund a loan by the next business day.

  • Soft credit check with pre-qualification for new customers.

Cons

  • Requires an in-person visit for existing customers.

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

  • No co-sign or secured loan option.

Qualifications

  • No minimum credit score, income or debt-to-income ratio requirements.

  • Not available in Wisconsin.

Available Term Lengths

2 to 5 years

Fees

  • Origination fee: None.

  • Late fee: 5% of monthly payment, capped at $39.

  • Returned payment fee: 5% of monthly payment, capped at $39.

Disclaimer

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Possible Finance Personal Loan
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Possible Finance Personal Loan

Not yet rated

Possible Finance Personal Loan

Min. Credit Score

None

Est. APR

151.00 - 230.00%

Loan Amount

$0 - $2,000

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Min. Credit Score

None

Key facts

Possible Finance offers a no-credit-check loan that can help you build credit, but high rates make it an expensive option.

Pros

  • Cheaper than payday loans.

  • Flexible repayments.

  • Fast funding.

Cons

  • High rates.

  • Available in a limited number of states.

Qualifications

  • Must provide a valid driver’s license and Social Security number to verify your identity.

  • Live in one of the states that Possible Finance serves: Idaho, Ohio, Utah, Texas and Washington.

  • Link a checking account with at least three months of history and monthly income deposits of at least $750.

Available Term Lengths

0 to 2 months

Disclaimer

BB&T Bank Personal Loan
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BB&T Bank Personal Loan

BB&T Bank Personal Loan

Min. Credit Score

660

Est. APR

4.74 - 18.00%

Loan Amount

$3,500 - $50,000

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on NerdWallet's secure website


Min. Credit Score

660

Key facts

Ideal if you’re a good-credit borrower looking for a low rate. Like most other banks, BB&T doesn’t offer pre-qualification.

Pros

  • Co-sign option.

  • Refinancing option.

  • Fast funding.

Cons

  • Limited service area.

  • No pre-qualify option.

Qualifications

  • Minimum credit score: 660.

  • No minimum income specified.

  • Minimum credit history: 2 years.

  • Maximum debt-to-income ratio: 40%

Available Term Lengths

2 to 5 years

Fees

  • Late fee: $35

Disclaimer

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PenFed Credit Union Personal Loan
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PenFed Credit Union Personal Loan

PenFed Credit Union Personal Loan

Min. Credit Score

600

Est. APR

6.49 - 17.99%

Loan Amount

$500 - $20,000

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on NerdWallet's secure website


Min. Credit Score

600

Key facts

A solid option for borrowers looking for small loan amounts at low rates; you can add a co-signer if you don’t qualify on your own.

Pros

  • Option to defer a payment.

  • Offers small loans of $500.

  • Option to include a co-signer.

Cons

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

  • No option to pre-qualify.

Qualifications

  • Minimum credit score: 600.

  • Some credit history required.

  • Membership required.

Available Term Lengths

1 to 5 years

Fees

  • $20-$25 late fee after five-day grace period.

  • $30 returned payment fee.

  • $5 membership fee.

Disclaimer

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ThriveCash Personal Loan
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ThriveCash Personal Loan

Not yet rated

ThriveCash Personal Loan

Min. Credit Score

None

Est. APR

8.40 - 18.00%

Loan Amount

$250 - $25,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Pros

  • Able to fund a loan the next business day.

  • Offers small loans of $250.

  • Accepts borrowers with no credit score or history.

Cons

  • Loan amount is limited by the amount on your offer letter.

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

Qualifications

  • Borrowers must be undergraduate or graduate students with an offer letter for an upcoming internship or full-time job.

  • Must be a U.S. citizen or hold a valid visa, residency card or other authorization to legally work in the U.S.

  • No bankruptcies.

Available Term Lengths

3 months to 1 year

Disclaimer

NetCredit
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NetCredit

2.5

NerdWallet rating 
NetCredit

Min. Credit Score

None

Est. APR

34.00 - 155.00%

Loan Amount

$1,000 - $10,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

Pros

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

  • Soft credit check with pre-qualify.

Cons

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

  • May charge an origination fee for lowest APRs.

  • Some loan payments may not go to principal.

Qualifications

  • Must be at least 18 in most states.

  • Must have a verifiable source of income.

  • Must have a social security number.

  • Must have a personal checking account.

  • Must have an email address.

Available Term Lengths

6 months to 6 years

Fees

  • A 5% origination fee is added to APRs below 36% in some states.

  • Late fee: Between the lesser of 5% of your loans or $10 and $25

Disclaimer

TD Bank Personal Loan
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TD Bank Personal Loan

TD Bank Personal Loan

Min. Credit Score

700

Est. APR

6.99 - 18.99%

Loan Amount

$2,000 - $50,000

See my rates

on NerdWallet's secure website


Min. Credit Score

700

Key facts

Ideal for good-credit customers and new customers with excellent credit.

Pros

  • Competitive rates among bank lenders.

  • Rate discount for autopay.

  • Offers direct payment to creditors with debt consolidation loans.

Cons

  • Requires an in-person visit.

  • No option to pre-qualify.

  • 7- to 10-day funding time is longer than most lenders.

Qualifications

  • Minimum credit score: 700 for customers; 760 for non-customers.

  • Maximum debt-to-income ratio: 60%, including mortgage.

  • Minimum credit history: None.

Available Term Lengths

1 to 5 years

Fees

  • Late fee: The lesser of 5% of the minimum amount due or $10.

Disclaimer

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  • All reviews and no roundups make NerdWallet go crazy.

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All reviews and no roundups make NerdWallet go crazy. All reviews and no roundups make NerdWallet go crazy. All reviews and no roundups make NerdWallet go crazy.

Last updated on June 26, 2020

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