Best Personal Loans of November 2026: Compare Rates

Which personal loan lender is best for you?

During our annual assessment of more than 35 personal loan lenders, we collected and fact-checked hundreds of data points. Then we scored lenders on affordability, customer experience, flexibility, underwriting practices and application process, with affordability carrying the most weight.

Here's what makes our picks stand out, as well as their potential downsides.

Discover: If you’re trying to avoid fees

Is it for you? Discover is a standout lender if you want to avoid fees and have strong credit. It’s one of only a handful of lenders that charges no fees, including for late payments. That means no origination fee — an often costly fee that many other lenders charge.

Discover also caps its APRs at 24.99%, whereas many online lenders’ maximums are closer to 36%. These low borrowing costs are part of why Discover is the highest-rated lender on this list, earning a 4.8 out of 5 stars in our latest review.

The downside: You’ll need a 660 credit score or higher to qualify, and Discover told us it seeks borrowers with excellent or good credit, which we consider as 690 or higher. And unlike many other lenders on this list, you can’t boost your odds of qualifying by securing your loan with collateral or applying with someone else.

Earnest: If you have good or excellent credit

Is it for you? Consider Earnest if you have good or excellent credit and want a low-rate loan. It earned a 5 out of 5 stars for affordability in our latest review, thanks largely to its competitive rates, which are capped at 29.49%, and because it doesn’t require you to pay an origination fee.

Earnest also offers three opportunities for rate discounts, including a unique way to reduce your rate by 0.75 percentage points as you successfully pay down your loan.

The downside: Earnest’s minimum credit score of 680 is among the highest of the dozens of lenders we review. Earnest told us its average borrower has a credit score of 720 or higher and an annual gross income of $100,000 or higher. And like Discover, there are no secured or co-applicant loan options.

Upgrade: If you need multiple ways to qualify

Is it for you? Upgrade is a strong choice if you have at least a 600 credit score and want a few ways to boost your approval odds. You can opt for a co-signed loan, which involves someone else agreeing to repay your loan if you don’t. Or you can take out a secured loan, which lets you use collateral that the lender can take if you don’t repay. Upgrade accepts a vehicle or home fixtures you own as collateral.

These loan types are less risky for lenders and are often easier to qualify for than single-borrower, unsecured loans (which Upgrade also offers). In our latest review, Upgrade earned a 5 out of 5 stars for flexibility, thanks in part to its multiple loan types and wide range of amounts ($1,000 to $75,000).

The downside: You’ll be charged an origination fee of 1.85% to 9.99% of the loan amount, which Upgrade takes from your proceeds.

SoFi: If you need fast funding

Is it for you? Look into SoFi if you need money ASAP. The lender told us it typically approves and funds loans within the same day. That’s a faster turnaround than any other lender on this list.

SoFi’s offers loans up to $100,000, which is more than most other lenders on this list. It also allows co-borrowers, who share responsibility for repayment and, unlike co-signers, have access to the funds. In addition to helping you repay a large loan, a co-borrower with better credit could potentially improve your chances of qualifying.

The downside: Like Discover and Earnest, you’ll likely need strong credit to qualify for SoFi. While SoFi doesn’t have a minimum credit score, it told us it seeks borrowers with good or excellent credit, which we consider as 690 or higher. Its average borrower has a score of 720 or higher and an annual gross income of $100,000 or higher.

Happen Bank: If you want to consolidate debt

Is it for you? If you’re aiming to pay off multiple debts, Happen Bank (formerly LendingClub) can simplify the consolidation process by directly sending the loan proceeds to up to 12 creditors. You can get your APR reduced by 0.5 percentage points if you opt into this feature.

Happen Bank may also be easier to qualify for than Discover and Earnest, with a minimum credit score of 600 and the ability to add a co-borrower.

The downside: Happen Bank may charge an origination fee up to 8% of your loan amount.

Patelco Credit Union: If you’re willing to join a credit union

Is it for you? You could potentially benefit from some of the most affordable personal loans on our list if you become a member of Patelco Credit Union. It caps APRs at 17.9%, whereas the next-lowest maximum APR on this list — Discover’s 24.99% — is about 7 percentage points higher. It also charges no origination fee.

You may be able to lower your APR by qualifying for its rate reductions. You could also add a more credit-worthy co-signer or co-borrower or secure your loan with a paid-off vehicle or savings account.

Patelco’s loan amounts range from $300 to $100,000, and its terms span from six months to seven years. That’s a wider spread than most other lenders offer.

The downside: While you can pre-qualify and check your rates without becoming a member, you must join the credit union if you choose to take out a loan. You’ll also have to wait two or three days for funding. The other lenders on this list don’t require a membership and can typically fund your loan the day after approval.

Upstart: If you have poor or thin credit

Is it for you? Upstart is a strong choice if you have bad credit or no credit history. For most lenders on this list, you must meet a credit score minimum requirement and have at least two or three years of credit history. Upstart has neither requirement. The lender told us it lends to borrowers across the credit spectrum, including those with bad credit (considered to be 629 or lower).

Upstart also reports your to all three credit bureaus, so consistently making on-time payments may strengthen your credit (although missing payments could hurt it).

The downside: Upstart has a maximum origination fee of 12%, which is higher than that of most other lenders.

How to choose the best personal loan for you

Personal loan amounts, terms and rate ranges can be similar between lenders. So how do you know which is best? Here are the factors to consider when comparing personal loans.

Aim for a low annual percentage rate

The loan’s APR includes interest and fees, making it the best way to compare total cost among loan options. The lower the APR, the less expensive the loan.

Unlike variable-rate products such as credit cards, personal loans have fixed rates, so the APR and monthly payment amount won’t change over the life of the loan.

💡Tip: The rate you receive depends on multiple factors, so even borrowers with perfect credit may not qualify for a lender's lowest rate. Here are the average APRs by credit band that borrowers who pre-qualified with NerdWallet received over the last 30 days:

» MORE: How to score a low rate on your personal loan

Determine how much you need to borrow

Most personal loan lenders offer small to midsize loans of $2,000 to $50,000, although a few offer amounts up to $100,000. Consider how much you need to borrow, then look for lenders that match what you need.

💡Tip: Avoid the temptation to request more than you need. You have a better chance of qualifying for an amount the lender thinks you can afford.

Consider different repayment terms

Personal loans tend to come with term lengths of two to seven years, though some lenders may offer longer terms for larger loan amounts. Think about how long you want to be repaying your loan.

💡Tip: A shorter-term loan means you’ll pay less interest overall, while a longer repayment term gives you lower monthly payments.

Ask yourself how quickly you need the funds

The time it takes to get a personal loan varies by lender, but some online lenders can approve your application in minutes and provide same-day funding or fund a loan on the next business day. Other lenders, like banks or credit unions, may take a few days.

💡Tip: You can speed up the process by promptly submitting any required documents and responding to lenders’ questions.

Factor in fees

Some personal loans have origination fees to cover the cost of processing the loan. This fee is included in the APR and often deducted from the loan funds.

Lenders may also charge a fee for late payments or a non-sufficient funds fee if you don’t have enough money in your bank account to cover the total amount of a payment. Setting up autopay and keeping an eye on your checking account can help you avoid these fees.

💡Tip: It’s typically best to avoid origination fees. But if a loan with an origination fee has a lower APR, it could cost less overall than a loan without the fee.

» MORE: How to get a personal loan in 7 steps

Personal loan calculator

Use our calculator to see how different loan amounts, rates and terms affect your monthly payment.

» MORE: Get details on how our loan payment calculator works

How to qualify for a personal loan

Personal loans are typically unsecured loans, meaning they don’t require collateral to back the loan. Instead, lenders look at the information on your loan application to determine eligibility. Here's what lenders told NerdWallet they like to see.

Know your credit

Your credit score and credit history are two of the most important factors for getting approved for a personal loan. Though lenders are most likely to approve borrowers with good credit or higher (generally scores of 690 and up), borrowers with fair or bad credit can still qualify. They just may receive a high interest rate.

Lenders also consider the length of your credit history and prefer to see at least two years across one to two accounts.

Determine your debt-to-income ratio

Debt-to-income ratio, or DTI, is another important consideration for loan approval. This measures your monthly debt payments against your gross monthly income.

If you have too much debt compared to your income, a lender may not approve you. Most lenders prefer applicants with a DTI below 50% (excluding mortgage).

» MORE: Try our debt-to-income calculator

Consider the loan details

Information about the loan you’re applying for can also influence your loan decision. For example, a larger loan with a long term is often harder to get approved for, since it means more risk for the lender. Choosing the minimum loan amount you need to cover the expense may be a better option.

You may also choose to apply for a co-signed, joint or secured loan, which can help boost your application by adding someone with better credit to the loan or guaranteeing the loan with collateral, like your car.

Pre-qualify with multiple lenders

We always recommend pre-qualifying for a personal loan to check your chances of approval and what interest rate you may get. This helps you compare loan offers between different lenders, too, and has no impact on your credit score.

You can pre-qualify through the lenders’ websites or through NerdWallet, where you can see offers from several lenders within minutes.

» GET STARTED: Pre-qualify through NerdWallet

A recap of the best personal loans of November

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 29 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

60+

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 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 60 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.

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