Best Personal Loans for Excellent Credit in 2026

NerdWallet’s guide to the best personal loans for excellent credit

Most — if not all — lenders accept applications from borrowers with excellent credit (which NerdWallet defines as scores of 720 or higher). The lenders on our list cater specifically to high-credit borrowers and offer low rates, large loans and fast funding.

Here’s what makes the best excellent-credit loans stand out.

Earnest: Best overall for excellent-credit loans

Earnest scored five out of five stars for affordability in our most recent review. Not only are its rates lower than those of many competitors, it also offers three ways to reduce your rate that add up to meaningful savings. On top of that, there are no required fees.

You can’t get a joint or secured loan from Earnest, but if low-cost is a priority, add Earnest to your list of lenders to pre-qualify with.

Discover: Best if you're consolidating debt

We particularly like Discover for debt consolidation. You may receive a lower rate on your Discover loan than what you’re paying on your credit cards, and that could mean big savings.

Discover can also send your loan funds straight to your creditors the day after you’re approved, simplifying the debt consolidation process for you.

SoFi: Best if you need a large loan

Like Earnest, SoFi offers three ways to get a discount off your interest rate; its rates are slightly higher, though, and its discounts aren’t as generous as Earnest’s. Still, it’s worth pre-qualifying with SoFi and comparing rates.

That’s especially true if you need a large loan. SoFi offers loans up to $100,000, while Earnest caps loans at $50,000.

Patelco: Best for flexible loan amounts and terms

We added Patelco Credit Union to our list of lenders to review this year because there’s a lot to like about its personal loans. Not only are its rates very competitive, its range of loan amounts ($300 to $100,000) and terms (six months to seven years) is among the widest of lenders we review. You’ll get maximum flexibility, whether you need a small or large loan, or a short or long term.

You have to join Patelco in order to get a loan, but you can pre-qualify and see your loan terms before committing to a membership.

LightStream: Best for home improvement projects

LightStream is a perennial favorite when it comes to home improvement loans. Its loan amounts (up to $100,000) cover even large projects. And loans of $25,000 or more that you use for home improvements may come with repayment terms up to 20 years. This long term length is unique among personal loan lenders.

LightStream also gets a five-out-of-five score for affordability, according to our methodology. And while you can’t pre-qualify on its website, you may be able to check personalized rates from LightStream via partner sites like NerdWallet.

PenFed: Best for low rates plus fast funding

PenFed is another credit union with hard-to-beat interest rates and no origination fees. On top of low rates, it offers a rate discount for autopay, and its next-day funding time is fast.

Like Patelco, you must be a credit union member to get a loan, and anyone can join.

What rates and monthly payments to expect

As with most credit products, the annual percentage rate you receive on a personal loan depends a lot on your credit score. Borrowers with excellent credit who pre-qualified through NerdWallet in the last 30 days received an average rate of 14.95% versus an average of 19.58% that good-credit applicants received.

Use our personal loan calculator to see your estimated monthly payments and total interest cost based on your desired loan amount, repayment term and estimated interest rate.

How to get the lowest rate on your loan

An excellent credit score gets you access to lenders’ lowest rates. Here are ways to shave off even more.

Opt in to rate discounts

With the exception of Discover, every lender on our list offers at least one rate discount. Most common is an autopay discount (ranging from 0.25 to 0.5 percentage points), which also ensures on-time payments. You may also get a discount for opening an account with the lender. LightStream offers a unique “rate-beat” program that can knock 0.10 percentage points off your rate.

Carefully choose your loan amount and term

With excellent credit, you may qualify for a lender’s maximum loan amount. But do you need that much money? And for how long do you want to be paying off your loan? Larger loans with longer loan terms mean you'll pay more interest. Choose a loan amount that covers your needs but also fits into a term that minimizes interest costs.

» MORE: How to choose the right loan term

Get offers from three to five lenders

Lenders all use different factors and algorithms to pre-qualify you and set your rate. You may get five completely different offers from five lenders. Pre-qualifying with multiple lenders allows you to compare offers and choose based on what you need — whether it’s the lowest cost or the most affordable monthly payment.

» MORE: How to compare personal loans

Check with your current bank or local credit union

Sites like NerdWallet let you fill out one application and get pre-qualified offers with multiple lenders. But also bring those offers to your own bank or credit union. They may offer lower rates and other perks, especially if you have a good relationship.

Beyond low rates, what should I look for?

You have multiple offers in hand. You’ve arranged them from lowest to highest cost. But can you be sure the cheapest offer is the best loan for you? Here are additional factors to consider that may tip your choice.

Funding time

How quickly do you need the funds? Most lenders these days can fund a personal loan within a few days after approval. If you need money fast, consider a lender that offers same- or next-day funding.

Flexible payments

Do you anticipate needing to change your repayment date at some point during your term? Some lenders don’t allow changes to your due date, while others let you change the date once or twice over the life of the loan.

Mobile app to track and manage your loan

If having easy access to your loan is important, make sure your lender offers a highly-rated mobile app. The best apps give you the ability to track your payments, estimate the impact of extra payments and even prompt you to refinance if rates go down.

» MORE: How to manage your personal loan

Will a personal loan hurt my excellent credit score?

Most lenders perform a soft credit inquiry when you pre-qualify. This doesn’t impact your credit score.

If you continue along the process of getting a personal loan, the lender will conduct a hard check after you submit a formal application. That hard check can cause your credit score to dip, but it’s often by only a few points.

You can build up your score by making on-time loan payments. Check that your lender reports repayment activity to all three credit bureaus (Equifax, Experian and TransUnion).

Additionally, a personal loan could benefit your score if you don’t have any other installment loans. According to FICO, credit mix accounts for 10% of your total credit score.

» MORE: How personal loans affect credit scores

Pre-qualify to get started

Always pre-qualify with multiple lenders before you choose a loan. Pre-qualifying allows you to see personalized terms, including the loan’s interest rate and monthly payments, before committing to the loan and with no impact to your credit score.

You can pre-qualify with multiple lenders on NerdWallet to compare offers and find the lowest rate.

Alternatives for excellent-credit borrowers

Having strong credit means you may qualify for many credit options. Here are a few others you might consider.

Zero-interest credit card: 0% interest credit cards let you borrow at no cost as long as you pay off your balance within the card’s 0% interest introductory period — typically 15 to 21 months. A credit card with rewards, like travel points or cash back, can be beneficial for future expenses.

Personal line of credit: A personal line of credit functions like a mix between a credit card and a personal loan. It’s a good option for expenses with unpredictable timelines and costs, such as large home improvement projects.

Home equity financing: Homeowners with excellent credit and equity in their homes may qualify for a home equity loan or home equity line of credit. These financing options usually have lower rates and longer repayment terms than personal loans or personal lines of credit. The risk, however, is potentially losing your home if you fail to repay the debt.

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.

30+

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.

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 30 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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