Personal Loans for Good Credit: Best of 2024
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The best personal loans for good-credit borrowers (with credit scores from 690 to 719) typically have low interest rates, plus perks like free credit monitoring and hardship assistance programs. Generally, the better your credit, the wider pick of lenders you have.
Here are the top lenders offering the best personal loans for borrowers with good credit.
LendingClub: Best for small loan amounts.
Achieve: Best for multiple rate discounts.
Happy Money: Best for credit card consolidation.
First Tech: Best for joint loans.
LightStream: Best for fast funding.
SoFi: Best for high loan amounts.
Discover: Best for low rates.
Personal Loans for Good Credit: Best
Our pick for
Good credit and small loan amounts
LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.
- Joint loan option.
- Direct payment to creditors with debt consolidation loans.
- Option to pre-qualify with a soft credit check.
- Option to change your payment date.
- Origination fee.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
Our pick for
Good credit and multiple rate discounts
Achieve Personal Loans
8.99-35.99%
$5,000-$50,000
620
- Option to pre-qualify with a soft credit check.
- Multiple rate discounts.
- Direct payment to creditors with debt consolidation loans.
- Joint loan options.
- Charges origination fee.
- Not available in all states.
- No mobile app to manage loan.
- High minimum loan amount.
- Minimum credit score: 620; borrower average is 700.
- Maximum debt-to-income ratio: 45% excluding mortgage.
- Minimum income: None; borrowers' average household income is $110,000.
- Minimum credit history: 3 years and 2 accounts.
- No active delinquencies and no bankruptcy in the last 24 months.
- Origination fee: 1.99% - 6.99%.
Our pick for
Good credit and credit card consolidation
Payoff offers loans and ongoing support to help good-credit borrowers pay off credit card debt.
- Pre-qualify with soft credit check.
- Direct payment to creditors with debt consolidation loans.
- Fast funding.
- Hardship program.
- Origination fee.
- No rate discount.
- No joint, co-sign or secured loan options.
- No option to choose initial payment date.
- Must be a U.S. citizen or permanent resident.
- Must have a valid Social Security number.
- Minimum credit score: 640.
- Minimum credit history: 6 years and 2 accounts.
- Maximum debt-to-income ratio: 55%.
- No bankruptcies filed in past two years.
- Origination fee: 1.5% to 5%.
Our pick for
Good credit and joint loans
First Tech Credit Union Personal Loan
8.99-18.00%
$500-$50,000
660
First Tech’s personal loans are a sound option for members who want a customizable loan with fast funding.
- Option to pre-qualify with a soft credit check.
- Co-sign and joint loan options.
- Wide range of loan amounts.
- Wide range of repayment term options.
- Fast funding.
- Exclusive to credit union members.
- No option to choose or change your payment date.
- No direct payment to creditors with debt consolidation loans.
- No rate discount.
- Must be a First Tech Federal Credit Union member to apply.
- Minimum credit score: 660.
- Maximum debt-to-income ratio: 50%.
- Must provide Social Security number.
- Must provide state-issued identification, like a driver's license.
- Must provide contact details.
- Late fee: $25.
Our pick for
Good credit and fast funding
LightStream targets strong-credit borrowers with no fees and low rates that vary based on loan purpose.
- No fees.
- Rate discount for autopay.
- Long repayment terms on home improvement loans.
- Rate Beat program and Experience Guarantee.
- No option to pre-qualify with a soft credit check on its website.
- No direct payment to creditors with debt consolidation loans.
- High minimum loan amount.
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 years old.
- Minimum credit score: 660.
- Must have several years of credit history with multiple account types and few or no delinquencies.
- Must have assets like retirement, investment and savings accounts.
- Origination fee: None.
- Late fee: None.
Our pick for
Good credit and high loan amounts
SoFi Personal Loan
8.99-29.99%
$5,000-$100,000
None
SoFi is a strong option for good-credit consumers, offering low rates, no fees and flexible payments.
- Joint loan option.
- Multiple rate discounts.
- Mobile app to manage loan.
- No option to choose initial payment date.
- High minimum loan amount.
- Must legally be an adult in your state.
- Must be a U.S. citizen, permanent resident or non-permanent resident with valid documentation.
- Must be employed, have sufficient income or have an offer of employment to start within 90 days.
- Origination fee: 0% to 7%.
- Late fee: None.
Our pick for
Good credit and low rates
Discover® Personal Loans
7.99-24.99%
$2,500-$40,000
660
Discover’s online experience, strong customer support and borrower perks make it a top lender for good- and excellent-credit applicants.
- No origination fee.
- Option to pre-qualify with a soft credit check.
- Fast funding.
- Mobile app to manage loan.
- May charge late fee.
- No co-sign or joint loan option.
- No rate discount.
- Minimum credit score: 660.
- Must be at least 18 years old.
- Must have a valid U.S. Social Security number.
- Minimum individual or household annual income of $25,000.
- Must have an active email address.
- Origination fee: None.
- Late fee: $39.
Compare the best personal loans for good credit
NerdWallet reviewed more than 35 financial institutions to find the best personal loans for borrowers with good credit. These are our top picks.
Best for good credit and small loan amounts
- Joint loan option.
- Direct payment to creditors with debt consolidation loans.
- Option to pre-qualify with a soft credit check.
- Option to change your payment date.
- Origination fee.
- Flexible payment date.
- Rate discount for consolidating debt.
Best for good credit and multiple rate discounts
- Option to pre-qualify with a soft credit check.
- Multiple rate discounts.
- Direct payment to creditors with debt consolidation loans.
- Joint loan options.
- Charges origination fee.
- Not available in all states.
- No mobile app to manage loan.
- High minimum loan amount.
- High minimum loan amount.
- Rate discount for adding a co-borrower, setting up direct pay and if you hold sufficient retirement assets.
Best for good credit and credit card consolidation
- Pre-qualify with soft credit check.
- Direct payment to creditors with debt consolidation loans.
- Fast funding.
- Hardship program.
- Origination fee.
- No rate discount.
- No joint, co-sign or secured loan options.
- No option to choose initial payment date.
- "Payoff Loan" can consolidate multiple credit card balances.
- Offers temporary payment protections in case of unemployment.
Best for good credit and joint loans
- Option to pre-qualify with a soft credit check.
- Co-sign and joint loan options.
- Wide range of loan amounts.
- Wide range of repayment term options.
- Fast funding.
- Exclusive to credit union members.
- No option to choose or change your payment date.
- No direct payment to creditors with debt consolidation loans.
- No rate discount.
- First payment can be deferred for up to 45 days.
- Loans can be approved the same day as application.
Best for good credit and fast funding
- No fees.
- Rate discount for autopay.
- Long repayment terms on home improvement loans.
- Rate Beat program and Experience Guarantee.
- No option to pre-qualify with a soft credit check on its website.
- No direct payment to creditors with debt consolidation loans.
- High minimum loan amount.
- Same day approval and funding available.
- Offers extended repayment terms for home improvement loans.
Best for good credit and high loan amounts
- Joint loan option.
- Multiple rate discounts.
- Mobile app to manage loan.
- No option to choose initial payment date.
- High minimum loan amount.
- Same-day funding available.
- Rate discount of 0.25% for direct payment to creditors.
Best for good credit and low rates
- No origination fee.
- Option to pre-qualify with a soft credit check.
- Fast funding.
- Mobile app to manage loan.
- May charge late fee.
- No co-sign or joint loan option.
- No rate discount.
- Personal loan refinancing available.
- No origination or prepayment fees.
NerdWallet's guide to good-credit personal loans
Most personal loans are unsecured, which means lenders evaluate applicants' ability to repay by considering factors like credit score rather than relying on collateral. A good credit score often means lower annual percentage rates (APRs) and more favorable loan terms.
This guide will help you compare and choose the best personal loans for good credit.
What are rates on good-credit loans?
Good-credit borrowers tend to get lower APRs on personal loans compared to fair- or bad-credit borrowers. A lower rate means you’ll pay less interest over the life of the loan.
The rate also affects your monthly payment. Use our personal loan calculator to estimate your monthly payments based on interest rate.
Here is what personal loan rates look like, on average:
Borrower credit rating | Score range | Estimated APR |
Excellent | 720-850. | 11.10%. |
Good | 690-719. | 13.74%. |
Fair | 630-689. | 17.51%. |
Bad | 300-629. | 21.83%. |
Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified through NerdWallet from June 1, 2024, through June 30, 2024. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below 500 — are unlikely to qualify. Information in this table applies only to lenders with maximum APRs below 36%.
How to choose a personal loan
A good credit score could get you loan offers from multiple lenders. Consider these factors to choose the right loan for your plans:
Compare rates across lenders: If you’re someone with good credit, it pays to shop around for the best combination of low rates and fees. Many lenders let you pre-qualify to check rates without affecting your credit.
Loan amount: The amount of money you could receive with a personal loan ranges from about $1,000 to $50,000, though some lenders offer up to $100,000. The amount you request from a lender may factor into their decision to qualify you, so carefully consider how much you need.
Loan purpose: A benefit of personal loans is you can use the money for almost any reason. Common uses are to pay off high-interest credit cards or finance home improvements, and rates can vary based on the loan purpose.
Loan term: Personal loan repayment terms are generally from two to seven years, though some lenders offer extended terms for specific purposes like home improvement. A shorter loan term means you'll pay less total interest on the loan; a longer term lowers your monthly payments.
Loan features: Some lenders have mobile apps where you can track your loan and manage monthly payments. Others offer flexible payment schedules or payment assistance programs. If you’re consolidating debt, some lenders will send loan proceeds directly to your creditors, saving you an important step.
Additional benefits: Take advantage of benefits a lender may offer such as free credit score monitoring and financial planning resources.
How does a personal loan affect your credit?
Though pre-qualifying for a personal loan typically won’t hurt your credit score, a lender will conduct a hard credit check when you formally apply, which can cause your score to drop a few points.
However, payment history represents 35% of an individual’s credit score, according to the credit scoring company FICO. Making on-time loan payments can build your score, while a missed payment can cause your score to drop by as much as 100 points.
If you don’t have other forms of installment credit, such as a student loan or auto loan, getting a personal loan may add to your credit mix, which makes up about 10% of your score, according to FICO.
Where to get a personal loan with good credit
Good-credit borrowers can get a personal loan from online lenders, credit unions or banks.
Online lenders
An online lender lets you pre-qualify, apply and manage the loan from your computer or phone. Good- and excellent-credit borrowers tend to get the best rates and features, so pre-qualifying with multiple lenders and comparing offers is a good idea.
» MORE: Best online loans
Credit unions
Local and national credit unions may offer lower interest rates and more flexible terms than other lenders. You typically have to be a member to borrow from a credit union.
Banks
Banks offer personal loans to existing account holders, often at low rates. Bank customers can also benefit from rate discounts and a streamlined online application process.
» MORE: Best bank loans
Alternatives to personal loans for good-credit borrowers
While a good credit score may qualify you for low personal loan rates, consider alternatives to ensure you’re getting the best deal.
Zero-interest credit card: A 0% APR credit card lets you borrow at no cost, as long you pay the card’s balance within the introductory period — typically 15 to 21 months. Most zero-interest cards require good or excellent credit.
Personal line of credit: A personal line of credit functions like a mix between a personal loan and a credit card. During the “draw” period, you borrow against your credit limit as needed, make payments and can borrow more as your balance replenishes. Your monthly payments and interest costs are based on your outstanding balance. Once the draw period ends, you’ll make monthly payments until the balance is repaid.
Home equity financing: With a home equity loan or home equity line of credit, you can borrow against your home’s equity, which is its value minus what you owe on it. Equity financing options usually have lower rates and longer repayment terms than personal loans. Your home is collateral for this type of financing, meaning if you default, the lender could take your property.
Frequently asked questions
- What is a good credit score for a personal loan?
Good credit scores are between 690 and 719. The credit score you need for a personal loan can vary by lender and the reason you're borrowing. The best personal loan rates and terms are reserved for those with good or excellent credit.
- How do I get a personal loan with good credit?
Lenders favor borrowers with good or excellent credit scores (above 689). Lenders also consider your debt-to-income ratio on a loan application. When you're ready to apply for a personal loan, compare multiple lenders and pre-qualify to make sure you're getting the best rates and terms available.
Last updated on July 23, 2024
Methodology
NerdWallet’s review process evaluates and rates personal loan products from more than 35 technology companies and financial institutions. We collect over 50 data points from each lender 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.
NerdWallet's Personal Loans for Good Credit: Best of 2024
- LendingClub: Best for Good credit and small loan amounts
- Achieve Personal Loans: Best for Good credit and multiple rate discounts
- Happy Money: Best for Good credit and credit card consolidation
- First Tech Credit Union Personal Loan: Best for Good credit and joint loans
- LightStream: Best for Good credit and fast funding
- SoFi Personal Loan: Best for Good credit and high loan amounts
- Discover® Personal Loans: Best for Good credit and low rates
