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Best Personal Loan Lenders of July 2025

Rates updated as of August 2, 2025

Best for borrowers with good to excellent credit

NerdWallet rating

5.0

Est. APR

8.99 - 35.49%

Loan amount

$5K - $100K

Min. credit score

None

Loan term

2 to 7 years

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Our take on SoFi Personal Loan

SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers. Read our review of SoFi Personal Loan

Best for home improvement loans

NerdWallet rating

4.5

Est. APR

6.49 - 25.29%

Loan amount

$5K - $100K

Min. credit score

660

Loan term

2 to 7 years

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Our take on LightStream

LightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates. Read our review of LightStream

Best for joint personal loans

NerdWallet rating

4.5

Est. APR

7.90 - 35.99%

Loan amount

$1K - $50K

Min. credit score

600

Loan term

2 to 6 years

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Our take on LendingClub

LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit. Read our review of LendingClub

Best for borrowers with bad to fair credit

NerdWallet rating

5.0

Est. APR

7.99 - 35.99%

Loan amount

$1K - $50K

Min. credit score

580

Loan term

2 to 7 years

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Our take on Upgrade

Upgrade personal loans offer multiple rate discounts and direct payment to creditors. A low minimum credit score requirement makes the perks stand out even more. Read our review of Upgrade

Best for secured personal loans

NerdWallet rating

4.5

Est. APR

6.99 - 35.99%

Loan amount

$2K - $50K

Min. credit score

600

Loan term

3 to 5 years

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Our take on Best Egg

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

Best for borrowers with short credit histories

NerdWallet rating

5.0

Est. APR

6.70 - 35.99%

Loan amount

$1K - $50K

Min. credit score

None

Loan term

3 to 5 years

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Our take on Upstart

Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases. Read our review of Upstart

How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

35+

Lenders reviewed

We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.

25+

Categories assessed

Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

70+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.

Affordability

25%

We review lenders’ annual percentage rate offerings at least twice per year and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial technology companies and financial institutions. We collect over 70 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.

NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

Meet the Nerds behind the research

Kim

9+ years of Consumer Lending experience

Kate

6+ years of Personal Finance experience

Amanda

4+ years of credit building, credit scoring experience

Nicole

8+ years of personal finance experience

Jackie

5+ years of Personal Finance experience

WORKS FEATURED IN

Ask A Nerd

Expert take: How to find the best lender for you

"Finding the best lender takes some legwork, but it mostly comes down to two things: what you can qualify for and what type of loan you want. I recommend starting with eligibility requirements. For example, if you have bad credit, start with lenders that have low minimum credit score requirements. Once you have a few choices, drill down further into loan amounts and repayment terms, to make sure they offer the type of loan you need. You can also keep an eye on perks, like direct payment to creditors if you’re consolidating debt. But the most important tip of all: Pre-qualify, pre-qualify, pre-qualify. Then pick the lender that gives you the best offer, which usually means the lowest rate."

Jackie Veling

See how much you can save with a personal loan

AmountEst. APRMonthly paymentInterest (5 years)

High interest credit card

Amount

$40,000

Est. APR

21.91%

Monthly payment

$1,102.71

Interest (5 years)

$26,162.64

Personal loan

Amount

$40,000

Est. APR

16.32%

Monthly payment

$979.54

Interest (5 years)

$18,772.19

Estimated savings

$7,390

28%less!

*All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

More picks for every personal loan need

Debt consolidation

Home improvement

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Fast cash

Joint loans

Debt consolidation

Home improvement

Bad credit loans

Emergency loans

Fast cash

Joint loans

Calculate your payment

See how different loan amounts, rates, and terms affect your monthly payment

Estimated monthly payment

$309.92

Total interest over 3 years

$1,156.95

Total loan payment

$11,156.95

Loan amount

$10,000

Interest rate

7.25%

Loan term (years)

PRINCIPAL AMOUNT — $10,000TOTAL INTEREST PAID — $1,156.95

90%

10%

Frequently asked questions

What is a personal loan?
A personal loan is money you borrow from an online lender, bank or credit union that you use to pay for almost anything. Many people use personal loans to consolidate high-interest debt, like credit cards, or to pay for a personal expense, like a wedding or large purchase. There are different types of personal loans, depending on how you plan to use the money and what you can qualify for.
What can I use a personal loan for?
Personal loans can be used for almost anything. Common uses include debt consolidation and home improvement. Even when you see loans advertised as travel loans or wedding loans, that’s just branding — you’re still getting a personal loan.
What are the requirements to qualify and apply for a personal loan?
Lenders review applicants’ credit, income and debt during the loan approval process. Requirements vary, but you’ll typically need to provide your Social Security number and proof of identity, address, income and employment. You’ll have the best chances of qualifying if you have good or excellent credit and enough income to comfortably make loan payments in addition to other financial responsibilities. Many lenders let you pre-qualify for a personal loan to check your chances of approval with no impact to your credit score.
What credit score is needed for a personal loan?
There’s no universal credit score required for a personal loan, but most lenders look for scores in at least the high-500s to mid-600s (out of 850). Borrowers with higher scores usually get better rates and terms. Lenders also consider your credit history and income before making a decision. The better your credit and finances, the more likely you are to get approved and qualify for a lower interest rate and higher loan amount.
How much can I borrow with a personal loan?
While some lenders offer loan amounts up to $100,000 for highly qualified borrowers, the more common range is $1,000 to $50,000. It's best to borrow only an amount you're certain you can afford to repay over the entire term. Use our personal loan calculator to see how different loan amounts, rates and terms affect your monthly payment.
Will checking my rates affect my credit score?
Shopping around for the best rate is a good idea, but be strategic so you don’t harm your credit. Find lenders that allow you to pre-qualify for a personal loan with a soft inquiry. Pre-qualifying won’t ding your score, so you can check multiple lenders for the best terms. Time your credit applications, including credit cards and loans, roughly six months apart to avoid credit damage.
Can I qualify for a personal loan if I have bad credit?
A bad credit score doesn’t exclude you from getting a personal loan; some online lenders have low minimum credit score requirements. Credit unions often consider your standing as a member during the loan approval process — not just your credit score. Opting for a secured, co-signed or joint loan could strengthen your chances of getting a personal loan with bad credit.
How do I get a personal loan?
The process getting a personal loan begins with checking your credit and taking steps to build your score if you can. At the same time, check your budget to make sure you can afford a monthly loan payment. Knowing this can give you a more solid sense of what to look for when shopping for loans. Once you’ve found a few good options, get pre-qualified with those lenders so you can compare offers head to head.
What interest rate can I expect in August?
Interest rates on personal loans tend to hold steady, collectively ranging from about 7% to 36% APR. Currently, as a result of economic pressures, average rates on personal loans are high. What rate you get depends largely on your credit score, income and how much debt you already have. Borrowers with good to excellent credit scores may receive rates around 15% or lower.
How quickly can I get a personal loan?
Many lenders can fund a personal loan within a day or two, though it could take about a week. The quickest personal loan lenders offer same-day funding. Gather together documents you’ll need to apply — like your I.D., paystubs and tax returns — to speed up the process, and respond to any lender requests in a timely manner.