BEST OF

49 PL Test RoundUp

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NerdWalletJune 26, 2020
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

on Avant's website

Avant

4.0

NerdWallet rating 
Avant

Min. Credit Score

550

Est. APR

9.95 - 35.99%

Loan Amount

$2,000 - $35,000

on Avant's 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.

  • Offers secured loan option.

Cons

  • Charge an origination fee.

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

  • No co-sign or joint 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

on Best Egg's website

Best Egg

4.0

NerdWallet rating 
BestEgg

Min. Credit Score

600

Est. APR

5.99 - 29.99%

Loan Amount

$2,000 - $35,000

on Best Egg's website


Min. Credit Score

600

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.

  • Charges $15 late 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%.

  • 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
See my rates

on NerdWallet's secure website

Discover® Personal Loans

5.0

NerdWallet rating 
Discover

Min. Credit Score

660

Est. APR

6.99 - 24.99%

Loan Amount

$2,500 - $35,000

See my rates

on NerdWallet's secure website


Min. Credit Score

660

Key facts

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

Pros

  • No origination fee.

  • Offers direct payment to creditors.

  • 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

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

4.0

NerdWallet rating 
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

  • Able to fund loans within two business days.

  • Option to change your payment date.

  • Offers direct payment to creditors with debt consolidation loans.

Cons

  • Charges origination fee.

  • High minimum loan amount.

  • No option to include co-signer.

Qualifications

  • Minimum credit score: 620; borrower average is 700. The company uses the FICO 8 credit scoring model.

  • Minimum debt-to-income ratio: 45%, excluding mortgage.

  • Minimum credit history: 3 years.

  • Minimum number of accounts on credit history: 2.

  • 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

on LendingClub's website

LendingClub

4.0

NerdWallet rating 
Lending Club

Min. Credit Score

600

Est. APR

8.05 - 35.89%

Loan Amount

$1,000 - $40,000

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 online 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 8.05% 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 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

on LendingPoint's website

LendingPoint

3.5

NerdWallet rating 
LendingPoint

Min. Credit Score

580

Est. APR

15.49 - 35.49%

Loan Amount

$2,000 - $25,000

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 change your payment date.

  • Can fund a loan the business day after approval.

Cons

  • No co-signed or joint loan option.

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

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

Qualifications

  • Minimum credit score of 580; 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.
Read Full Review
Lightstream

on LightStream's website

LightStream

5.0

NerdWallet rating 
Lightstream

Min. Credit Score

660

Est. APR

4.49 - 20.49%

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.

  • Competitive rates among online lenders.

  • Rate discount for 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.

Qualifications

  • Minimum credit score: 660.

  • Several years of credit history; excellent-credit borrowers have at least five, according to LightStream.

  • 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 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

on Goldman Sachs's website

Marcus by Goldman Sachs

5.0

NerdWallet rating 
Marcus by Goldman Sachs

Min. Credit Score

660

Est. APR

6.99 - 19.99%

Loan Amount

$3,500 - $40,000

on Goldman Sachs's website


Min. Credit Score

660

Key facts

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

Pros

  • No fees.

  • Competitive rates among online lenders.

  • Wide variety of repayment term options.

  • Rate discount for autopay.

  • Offers direct payment to creditors for debt consolidation loans.


Cons

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

  • Funding could take up to five days.

Qualifications

  • Minimum credit score: 660.

  • Must be 18 or over, 19 in Alabama and 21 in Mississippi and Puerto Rico.

  • Must have a valid U.S. bank account and Social Security or Individual Tax I.D. Number.

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

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

4.0

NerdWallet rating 
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

  • Option to choose your payment date.

  • Offers joint and secured loans.

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

  • Offers online educational resources.

Cons

  • Rates are high compared to other online lenders.

  • Charges origination fee.

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

Qualifications

  • Minimum credit score: None.

  • Minimum income: Not disclosed; 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 $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: Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. 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

5.0

NerdWallet rating 
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 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: 640.

  • 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.
Read Full Review
Prosper

on Prosper's website

Prosper

4.5

NerdWallet rating 
Prosper

Min. Credit Score

640

Est. APR

7.95 - 35.99%

Loan Amount

$2,000 - $40,000

on Prosper's website


Min. Credit Score

640

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.
Read Full Review
RocketLoans
See my rates

on NerdWallet's secure website

Rocket Loans

4.0

NerdWallet rating 
RocketLoans

Min. Credit Score

640

Est. APR

7.16 - 29.99%

Loan Amount

$2,000 - $45,000

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.

  • Rate discount for 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

on SoFi's website

SoFi

5.0

NerdWallet rating 
SoFi

Min. Credit Score

680

Est. APR

5.99 - 18.85%

Loan Amount

$5,000 - $100,000

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.

  • Rate discount for 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 US 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 5.99% APR to 18.85% APR (with AutoPay). SoFi rate ranges are current as of February 25, 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. 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

5.0

NerdWallet rating 
Upgrade

Min. Credit Score

580

Est. APR

6.94 - 35.97%

Loan Amount

$1,000 - $50,000

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 secured, co-signed and joint loans.

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

  • Rate discount for autopay.

Cons

  • Charges origination fee.

  • Charges late fee.

Qualifications

  • Minimum credit score: 580.

  • Minimum annual income: None; 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

3 to 5 years

Fees

  • Origination fee: 2.9% to 8%.

Disclaimer

Personal loans made through Upgrade feature APRs of 6.94%-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.
Read Full Review
Upstart

on Upstart's website

Upstart

4.5

NerdWallet rating 
Upstart

Min. Credit Score

580

Est. APR

8.27 - 35.99%

Loan Amount

$1,000 - $50,000

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.

Cons

  • Borrowers can choose from only two repayment term options.

  • Charges origination fee.

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

● 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. ● 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 U.S. 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. ● 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 25.79% and 36 monthly payments of $37 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.
Read Full Review
Laurel Road Personal Loan
See my rates

on NerdWallet's secure website

Laurel Road Personal Loan

5.0

NerdWallet rating 
Laurel Road Personal Loan

Min. Credit Score

700

Est. APR

7.50 - 24.75%

Loan Amount

$5,000 - $45,000

See my rates

on NerdWallet's secure website


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.

  • Rate discount for 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.

Read Full Review
Barclays Personal Loan
See my rates

on NerdWallet's secure website

Barclays Personal Loan

4.5

NerdWallet rating 
Barclays Personal Loan

Min. Credit Score

None

Est. APR

4.99 - 20.99%

Loan Amount

$5,000 - $35,000

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

on NerdWallet's secure website

Earnin

Not yet rated

Earnin

Min. Credit Score

None

Est. APR

N/A

Loan Amount

$100 - $500

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

Min. Credit Score

None

Est. APR

N/A

Loan Amount

$500 - $5,000

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 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.

Read Full Review
Affirm
See my rates

on NerdWallet's secure website

Affirm

Not yet rated

Affirm

Min. Credit Score

None

Est. APR

N/A

Loan Amount

$0 - $17,500

See my rates

on NerdWallet's secure website


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.

Read Full Review
American Express
See my rates

on NerdWallet's secure website

American Express

4.0

NerdWallet rating 
American Express

Min. Credit Score

None

Est. APR

6.91 - 19.97%

Loan Amount

$3,500 - $25,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

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

Pros

  • Offers direct payment to creditors with debt consolidation loans.

  • No origination or prepayment fees.

  • Soft credit check with pre-qualification.

  • 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 qualify, borrowers must be: A United States citizen or permanent resident.

  • To qualify, borrowers must be: At least 18 years old.

  • To qualify, borrowers must be: The primary cardholder on at least one AmEx credit card for 90 days to a year.

Available Term Lengths

1 to 3 years

Fees

  • Origination fee: None.

  • Late fee: $39.

  • Unsuccessful payment fee: Amount not disclosed.

  • Prepayment fee: None.

Read Full Review
Backed
See my rates

on NerdWallet's secure website

Backed

3.0

NerdWallet rating 
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%.

Read Full Review
Capital Good Fund
See my rates

on NerdWallet's secure website

Capital Good Fund

Not yet rated

Capital Good Fund

Min. Credit Score

None

Est. APR

5.00 - 24.00%

Loan Amount

$300 - $20,000

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

  • Accepts bad credit.

  • Fast funding.

Cons

  • Available in limited number of states.

Qualifications

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

  • 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.

Read Full Review
Citibank
See my rates

on NerdWallet's secure website

Citibank

3.0

NerdWallet rating 
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 or prepayment fees.

  • Offers secured loan option.

  • Offers mobile app to manage loan.

  • Rate discount for autopay.

Cons

  • No option pre-qualify.

  • Must be an existing bank customer.

  • No option to choose or change your payment date.

  • No co-sign or joint loan option.

Qualifications

  • Minimum credit score: None disclosed, but the majority of borrowers have a score of 680 or higher, according to a 2019 SEC filing.

  • Minimum annual income: $10,500.

  • An eligible Citi deposit account open for at least three 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: None.

Read Full Review
Citizens Bank
See my rates

on NerdWallet's secure website

Citizens Bank

4.5

NerdWallet rating 
Citizens Bank

Min. Credit Score

None

Est. APR

6.78 - 20.88%

Loan Amount

$5,000 - $50,000

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
See my rates

on NerdWallet's secure website

Finova

Not yet rated

Finova

Min. Credit Score

350

Est. APR

17.00 - 30.00%

Loan Amount

$750 - $5,000

See my rates

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
See my rates

on NerdWallet's secure website

First Tech Credit Union Personal Loan

5.0

NerdWallet rating 
First Tech Credit Union Personal Loan

Min. Credit Score

None

Est. APR

6.70 - 18.00%

Loan Amount

$500 - $50,000

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
See my rates

on NerdWallet's secure website

Greensky

Not yet rated

Greensky

Min. Credit Score

None

Est. APR

4.99 - 23.99%

Loan Amount

$0 - $65,000

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
See my rates

on NerdWallet's secure website

Klarna

Not yet rated

Klarna

Min. Credit Score

None

Est. APR

19.99%

Loan Amount

N/A

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.

Read Full Review
LendUp Installment Loan
See my rates

on NerdWallet's secure website

LendUp Installment Loan

2.0

NerdWallet rating 
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.

Read Full Review
Mariner
See my rates

on NerdWallet's secure website

Mariner

2.5

NerdWallet rating 
Mariner

Min. Credit Score

600

Est. APR

24.00 - 36.00%

Loan Amount

$1,000 - $25,000

See my rates

on NerdWallet's secure website


Min. Credit Score

600

Key facts

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

Pros

  • Reports payments to all three major credit bureaus.

  • Soft credit check with pre-qualification.

  • Option to choose your payment date.

Cons

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

  • Available in a limited number of states.

  • May charge origination fee.

  • May require in-person visit.

Qualifications

  • None specified.

  • 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.

  • Online payment fee: Varies by state.

  • Phone payment fee: Varies by state.

Read Full Review
Navy Federal Credit Union Personal Loan
See my rates

on NerdWallet's secure website

Navy Federal Credit Union Personal Loan

4.0

NerdWallet rating 
Navy Federal Credit Union Personal Loan

Min. Credit Score

None

Est. APR

7.49 - 18.00%

Loan Amount

$250 - $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

  • No origination fee.

  • Offers wide range of loan amounts and repayment terms.

  • Able to fund loans same-day.

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

Cons

  • Exclusive to credit union members.

  • No option to pre-qualify.

  • No rate discount for autopay.

  • No option to change your payment date.

Qualifications

  • No minimum qualification requirements.

  • Must meet membership requirements.

Available Term Lengths

1 to 5 years

Fees

  • Origination fee: None.

Read Full Review
Oportun

on Oportun 's website

Oportun

3.0

NerdWallet rating 
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

  • Soft credit check with pre-qualification.

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

  • Accepts borrowers new to credit.

  • Offers small loans starting at $300.

Cons

  • Available in a limited number of states.

  • Borrowers cannot choose or change their payment date.

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

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

Qualifications

  • Valid identification.

  • Proof of income.

  • Proof of address.

  • Up to four references.

  • Be 18 years or older.

Available Term Lengths

6 to 46 months

Fees

  • Origination fee: $0 - $300.

  • Late fee: Fixed amount or percent, $15 max.

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.
Read Full Review
OppLoans

on OppLoans's website

OppLoans

3.0

NerdWallet rating 
OppLoans

Min. Credit Score

None

Est. APR

59.00 - 99.00%

Loan Amount

$500 - $4,000

on OppLoans's 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/.
Read Full Review
Peerform
See my rates

on NerdWallet's secure website

Peerform

3.0

NerdWallet rating 
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

  • Competitive rates among bad-credit lenders.

  • Soft credit check with pre-qualification.

Cons

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

  • Charges origination and late fees.

  • No option to change your payment date.

  • Borrowers have only one repayment term option.

Qualifications

  • Minimum credit score: 600. This lender uses the FICO credit scoring model.

  • Minimum credit history: one year.

  • Minimum annual income: $10,000.

  • Maximum debt-to-income ratio: 40%, excluding mortgage.

  • Must be a United States citizen or permanent resident.

Available Term Lengths

3 years

Fees

  • Origination fee: 1% to 5%.

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

Read Full Review
PNC Bank Personal Loan
See my rates

on NerdWallet's secure website

PNC Bank Personal Loan

4.0

NerdWallet rating 
PNC Bank Personal Loan

Min. Credit Score

None

Est. APR

7.24 - 25.34%

Loan Amount

$1,000 - $35,000

See my rates

on NerdWallet's secure website


Min. Credit Score

None

Key facts

PNC’s unsecured personal loans are available to fair- and good-credit borrowers, but loan offerings vary by ZIP code.

Pros

  • Competitive rates among fair-credit lenders.

  • No origination fee.

  • Offers joint loan option.

  • Wide variety of repayment terms.

Cons

  • Charges late fee.

  • May require an in-person visit.

  • Product varies by location.

Qualifications

  • Minimum credit score: None; average score is 727, according to SEC filings.

  • Must be at least 18 years old.

  • Must provide Social Security number.

  • Must show photo ID.

  • Must be able to show proof of income.

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.

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Rise
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Rise

2.5

NerdWallet rating 
Rise

Min. Credit Score

None

Est. APR

50.00 - 299.00%

Loan Amount

$500 - $5,000

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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.

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USAA Personal Loan
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USAA Personal Loan

4.0

NerdWallet rating 
USAA Personal Loan

Min. Credit Score

None

Est. APR

6.99 - 17.65%

Loan Amount

$2,500 - $20,000

See my rates

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Min. Credit Score

None

Key facts

USAA offers small loans, flexible terms and minimal fees to active and retired military members and their families.

Pros

  • Competitive rates among good-credit lenders.

  • No origination or prepayment fee.

  • Rate discount for autopay.

  • Option to include a co-signer.

Cons

  • Must be a USAA member.

  • No option to pre-qualify.

  • Offers a small range of loan amounts.

  • Charges late fee.

Qualifications

  • USAA does not publicly disclose many of its borrower requirements. Borrowers with good and excellent credit scores will likely qualify for the lowest rates.

Available Term Lengths

1 to 7 years

Fees

  • Origination fee: None.

  • Late fee: 5% of payment amount.

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

4.0

NerdWallet rating 
U.S. Bank Personal Loan

Min. Credit Score

680

Est. APR

5.49 - 16.99%

Loan Amount

$1,000 - $25,000

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Min. Credit Score

680

Key facts

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

Pros

  • Competitive rates among similar lenders.

  • Rate discount for autopay.

  • Offers joint loan option.

  • Able to fund loans within one business day.

  • Offers mobile app to manage your loan.

Cons

  • No option to pre-qualify.

  • Charges prepayment fee.

  • Must be an existing bank customer.

  • Available in a limited number of states.

  • May require an in-person visit.

Qualifications

  • Minimum credit score: 680.

  • Your Social Security number or Individual Taxpayer Identification Number (ITIN).

  • Home address and employment information.

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: $50-$100 if loan is paid off within first 12 months.

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US Bank Simple Loan
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US Bank Simple Loan

4.0

NerdWallet rating 
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

  • Reports payments to all three major credit bureaus.

  • No fees.

  • Offers small loans of $100.

Cons

  • Must be an existing bank customer.

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

  • Only three-month repayment terms available.

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.

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Wells Fargo Personal Loan
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Wells Fargo Personal Loan

4.5

NerdWallet rating 
Wells Fargo Personal Loan

Min. Credit Score

None

Est. APR

5.99 - 24.49%

Loan Amount

$3,000 - $100,000

See my rates

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Min. Credit Score

None

Key facts

Wells Fargo personal loans stand out among bank lenders thanks to low rates and flexible terms, but borrowers cannot pre-qualify.

Pros

  • Competitive rates among similar lenders.

  • No origination fee.

  • Offers joint and secured loan options.

  • Offers wide range of loan amounts and repayment terms.

Cons

  • No option to pre-qualify.

  • Charges $39 late fee.

  • Some features only available to existing customers.

Qualifications

  • Must provide Social Security number.

  • Must provide contact details, including a permanent address, email and telephone number.

  • Must provide employment and income (documentation may be required to verify this information) and monthly mortgage or rent payment amount.

Available Term Lengths

1 to 7 years

Fees

  • Origination fee: None.

  • Late fee: $39.

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HSBC Personal Loan
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HSBC Personal Loan

4.0

NerdWallet rating 
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.

  • Soft credit check with pre-qualification.

  • Option to change your payment date.

  • Able to fund loans within one business day.

Cons

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

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

  • Doesn't offer direct payment to creditors with debt consolidation loans.

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.

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Possible Finance Personal Loan
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Possible Finance Personal Loan

4.0

NerdWallet rating 
Possible Finance Personal Loan

Min. Credit Score

None

Est. APR

151.00 - 257.00%

Loan Amount

$50 - $500

See my rates

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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

  • Reports payments to all three major credit bureaus.

  • Option to delay your payment.

Cons

  • Available in a limited number of states.

  • Rates are high.

  • Repayment term of two months.

  • May charge an origination fee.

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

Fees

  • Origination fee: $15 to $20 for every $100 borrowed; varies by state.

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

3.5

NerdWallet rating 
BB&T Bank Personal Loan

Min. Credit Score

700

Est. APR

5.69 - 18.00%

Loan Amount

$3,500 - $50,000

See my rates

on NerdWallet's secure website


Min. Credit Score

700

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

  • Competitive rates among good-credit lenders.

  • No origination or prepayment fees.

  • Able to fund loans within one business day.

  • Offers co-signed and secured loan options.

Cons

  • Requires an in-person visit.

  • Available in a limited number of states.

  • No rate discount for autopayments.

Qualifications

  • Minimum credit score: 700. This lender uses the FICO credit scoring model.

  • Maximum debt-to-income ratio: 40%.

Available Term Lengths

2 to 5 years

Fees

  • Late fee: $35

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PenFed Credit Union Personal Loan
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PenFed Credit Union Personal Loan

5.0

NerdWallet rating 
PenFed Credit Union Personal Loan

Min. Credit Score

700

Est. APR

6.49 - 17.99%

Loan Amount

$500 - $20,000

See my rates

on NerdWallet's secure website


Min. Credit Score

700

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

  • Soft credit check with pre-qualification.

  • Joint loan option.

  • Offers mobile app to manage your loan.

  • Offers small loans of $500.

Cons

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

  • No co-sign or secured loan option.

  • No option to change your payment date.

Qualifications

  • Minimum credit score: 700.

  • Minimum credit history: Three years.

  • Low debt-to-income ratio — many lenders require a DTI of 40% or lower.

  • Minimum income: None.

Available Term Lengths

1 to 5 years

Fees

  • Late fee: $29

  • Returned payment fee: $30

  • Membership fee: $5

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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

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
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

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

TD Bank Personal Loan
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TD Bank Personal Loan

4.5

NerdWallet rating 
TD Bank Personal Loan

Min. Credit Score

700

Est. APR

6.99 - 21.99%

Loan Amount

$2,000 - $50,000

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Min. Credit Score

700

Key facts

TD Bank’s unsecured personal loans have minimal fees and close fast, but they’re available in a limited number of states.

Pros

  • Soft credit check with pre-qualification.

  • No origination fee.

  • Option to change your payment date.

  • Able to fund loans the next business day.

  • Offers wide range of loan amounts.

Cons

  • Available in a limited number of states.

  • No rate discount for autopay.

  • Charges late fee.

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

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

Qualifications

  • Minimum credit score: The lender says it accepts applications from all credit backgrounds, but you will likely need good credit (at least 690 FICO) to qualify for a competitive rate.

  • Must be at least 18 years old.

  • Must provide Social Security number.


Available Term Lengths

3 to 5 years

Fees

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

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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.

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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