Ratings Methodologies for Personal Loans
NerdWallet’s overall ratings for personal loans are weighted averages of ratings in five major categories:
- Affordability.
- Customer experience.
- Underwriting and eligibility.
- Loan flexibility.
- Application process.
Breakdown of overall rating
Data collection and review process
- The largest national banks based on asset volume.
- The largest credit unions based on search volume.
- The largest digital lenders and lending platforms based on search volume.
- The largest high-interest installment lenders based on search volume.
Data accuracy
The review team
Our writers’ bylines have appeared in The New York Times, The Associated Press, USA Today, MSN, MarketWatch, Yahoo Finance and other national and regional media outlets in addition to NerdWallet. External media frequently tap our personal loans experts for input on industry trends and developments that impact consumers.
Methodology, broken down by category
Affordability (25%)
Consumer experience (20%)
Underwriting and eligibility (20%)
Loan flexibility (20%)
Application process (15%)
Discretionary (not weighted)
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