Personal loans with no origination fee can help save money on the overall cost of a loan while providing the full loan amount to borrowers.
Checking rates is free and won't impact your credit score.
Origination fees can take a bite from your personal loan proceeds, typically ranging from 1% to 10%. Some lenders charge this fee to cover processing costs, and they typically deduct it from the proceeds up front.
Here’s an example: Say you take out a $20,000 personal loan with a 5% origination fee. The lender takes that 5% — $1,000 — from your total amount, leaving you with $19,000. You must still repay $20,000, plus interest.
So, if possible, seek out lenders that don’t charge origination fees, like the ones listed below.
Best for no fees and large loans
2026 NerdWallet award winner
6.49 - 24.89%
$5K - $100K
660
2 to 7 years
LightStream is a solid option for borrowers with strong credit who need a large loan. Its low starting rates are hard to beat, and it charges zero fees. But it doesn't offer some common services, like direct payment to creditors for consolidation loans or a mobile app. Read our review of LightStream.
Best for debt consolidation loans
7.99 - 24.99%
$2.5K - $40K
660
3 to 7 years
Best for loans for existing customers
6.74 - 26.74%
$3K - $100K
None
1 to 7 years
Best for joint loans
8.74 - 24.99%
$1K - $50K
680
1 to 7 years
U.S. Bank is best for existing customers, who have access to larger loan amounts, longer terms, a rate discount option and faster funding. If you already bank at U.S. Bank and have at least good credit, you probably won't get a better loan elsewhere. Read our review of U.S. Bank Personal Loan.
Best for secure loans
7.89 - 18.00%
$500 - $50K
None
6 months to 7 years
First Tech Credit Union personal loans are a solid option for members who need a flexible loan. It offers a wide range of loan amounts and repayment terms, plus joint and secured loans that can be easier to qualify for. Read our review of First Tech Credit Union Personal Loan.
Best for best for a wide range of loan amounts
7.99 - 17.99%
$600 - $50K
None
1 to 5 years
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.
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
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.
Beyond skipping the origination fee, the lenders below stand out for offering competitive rates and other features that can help make the loan affordable and easy to manage.
LightStream charges zero fees — no origination, late payment or other fees. It also offers loans up to $100,000 for those who qualify. Most other lenders cap loans at $50,000. If you use those funds for a home improvement project, LightStream may offer a term up to 20 years if the loan is $25,000 or more.
Unlike many other lenders, LightStream doesn’t allow you to pre-qualify directly from its website. But you may be able to check your personalized rates through partner sites like NerdWallet.
If you want to consolidate debt, Discover saves you a step by sending your loan funds directly to creditors within one business day. Discover also says it provides same-day decisions on loan applications.
Unlike some other lenders on this list, Discover offers loans nationwide and doesn't require a pre-existing relationship.
Keep in mind that Discover only offers single-borrower, unsecured loans. If you want to add a co-applicant or secure your loan with collateral, look elsewhere.
🤓 Nerdy Tip
Many lenders that forgo origination fees require borrowers have strong credit (scores from the mid-600s and higher). So If your credit isn’t great, you may boost your chances of approval by adding a co-signer or co-borrower, or by securing your loan with collateral. Or look into these bad-credit loans, which charge origination fees but are easier to qualify for.
Wells Fargo boasts some of the lowest APRs among the lenders we survey. Borrowers may also snag a rate discount ranging from 0.25 to 0.5 percentage points if they set up automatic payments from a qualified Wells Fargo checking account.
It’s also a solid choice if you need to borrow a large sum, since it offers loans ranging from $3,000 to $100,000 for those who qualify.
One big note: All these standout features — including fast funding and flexible payment dates, too — are only available to existing customers who have had a Wells account open for at least a year.
U.S. Bank lets you apply for a joint loan with a co-borrower, who would share responsibility for loan payments. You can also secure a loan with a certificate of deposit as collateral.
Note that you don’t have to be a customer to get a U.S. Bank personal loan, but customers do receive higher loan limits, longer terms and faster funding, as well as rate discounts.
Borrowers can secure a First Tech personal loan with an investment account, savings account or certificate of deposit as collateral. The credit union offers unsecured loans, too.
First Tech also shines for its wide range of loan amounts ($500 to $50,000) and loan terms (six months to seven years).
The big flag with First Tech is that you have to be a member to get these five-star features.
Pen Fed’s terms range from one to five years, and its loan amounts range from $600 to $50,000. That’s enough to cover an emergency expense or a larger need, like debt consolidation. For the latter, PenFed also sends loan funds directly to creditors, saving you a step as you consolidate.
You don’t have to be a PenFed member to apply for a loan, but you must become a member to accept a loan. Anyone in the U.S. can join PenFed by opening a savings account and depositing at least $5.
» MORE: How to get a personal loan
Use our personal loan calculator to see estimated APRs and payments for a personal loan based on loan amount, rate and term.
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)
3
Here are other costs, besides the origination fee, to keep in mind when comparing personal loans:
Annual percentage rate: The annual percentage rate, or APR, is the sum of the loan’s interest rate plus all upfront costs, including the origination fee. Lenders are required to disclose APR and fees under the Truth in Lending Act. Use APRs to compare the actual annual borrowing costs between lenders.
🤓 Nerdy Tip
If the loan you’re considering has a lower annual percentage rate than other loan options, it’s the most affordable choice — even if it charges an origination fee, and the others don’t. That’s because APR includes origination fees, so it’s ultimately the best way to compare total loan costs. The lower the APR, the more affordable the loan.
Late fee: This common fee is charged when you miss a payment due date, although some lenders allow a 10- to 15-day grace period before charging it.
To avoid late fees, consider setting up payment reminders or automatic payments via ACH debit, which authorizes lenders to deduct the loan payment directly from your bank account. Lenders may also waive a late fee if you request it.
Insufficient funds fee: Also called an overdraft fee, this may be charged (on top of a late fee) if you’ve signed up for autopay but don’t have enough cash in your bank account to cover the loan payment. Consider setting up an alert with your bank if your balance falls below the monthly payment amount.
