Jackie Veling
Kim Lowe
Answer a few simple questions and get offers in minutes. Rates as low as 6.49% and loans up to $100,000.
Best for overall personal loans
2025 NerdWallet award winner
7.74 - 35.99%
$1K - $50K
600
2 to 7 years
Our take on Upgrade
Upgrade accepts lower credit scores than similar lenders, and it offers multiple rate discounts for its personal loans. Read our review of Upgrade
Best for debt consolidation loans
2025 NerdWallet award winner
7.90 - 35.99%
$1K - $60K
600
2 to 7 years
Our take on LendingClub
A LendingClub personal loan is a standout option for qualified borrowers who want to pay off debt with flexible terms. Read our review of LendingClub
Best for no fees and fast approval
2025 NerdWallet award winner
7.99 - 24.99%
$2.5K - $40K
660
3 to 7 years
Our take on Discover® Personal Loans
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit. Read our review of Discover® Personal Loans
Best for borrowers with bad to fair credit
11.69 - 35.99%
$1K - $50K
560
3 to 5 years
Our take on Universal Credit
A Universal Credit personal loan may be a smart choice for borrowers with lower credit scores who want to consolidate debt. Read our review of Universal Credit
Best for home improvement loans
2025 NerdWallet award winner
6.49 - 24.89%
$5K - $100K
660
2 to 7 years
Our take on LightStream
LightStream is a solid option for good- and excellent-credit borrowers, with no fees and a promise to beat competitors’ rates. Read our review of LightStream
Best for secured personal loans
6.99 - 35.99%
$2K - $50K
600
3 to 5 years
Our take on Best Egg
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt. Read our review of Best Egg
Best for borrowers with short credit histories
6.70 - 35.99%
$1K - $75K
None
3 to 5 years
Our take on Upstart
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases. Read our review of Upstart
Best for large loan amounts
2025 NerdWallet award winner
8.99 - 35.49%
$5K - $100K
None
2 to 7 years
Our take on SoFi Personal Loan
SoFi offers large online personal loans with consumer-friendly features for good- and excellent-credit borrowers. Read our review of SoFi Personal Loan
Best for range of loan amounts and terms for members
7.89 - 18.00%
$500 - $50K
None
6 months to 7 years
Our take on First Tech Credit Union Personal Loan
First Tech Credit Union personal loans are a solid option for members seeking maximum flexibility. Read our review of First Tech Credit Union Personal Loan
Best for range of loan amounts and terms for bank customers
8.74 - 24.99%
$1K - $50K
680
1 to 7 years
Our take on U.S. Bank Personal Loan
U.S. Bank customers can access a wide range of personal loan amounts and fast funding. Non-customers may qualify, but they won’t get the same perks. Read our review of U.S. Bank Personal Loan
Best for fast funding for credit union members
8.99 - 17.99%
$600 - $50K
None
1 to 5 years
Our take on PenFed Credit Union Personal Loan
PenFed offers a wide range of loan amounts and fast funding to its members. Read our review of PenFed Credit Union Personal Loan
Best for existing customers with good credit
9.99 - 19.49%
$2K - $30K
Undisclosed
1 to 5 years
Our take on Citibank
Citibank personal loans come with no fees and multiple rate discounts, but you may find more flexible options elsewhere if you have strong credit. Read our review of Citibank
6.49 - 24.89%
$5K - $100K
660
1 day
Our take on LightStream
LightStream is a solid option for good- and excellent-credit borrowers, with no fees and a promise to beat competitors’ rates. Read our review of LightStream
8.99 - 35.49%
$5K - $100K
None
1 day
Our take on SoFi Personal Loan
SoFi offers large online personal loans with consumer-friendly features for good- and excellent-credit borrowers. Read our review of SoFi Personal Loan
8.01 - 29.99%
$2K - $45K
640
1 day
Our take on Rocket Loans
Rocket Loans is a solid online loan option for good- to excellent-credit borrowers who need to borrow money fast. Read our review of Rocket Loans
6.70 - 35.99%
$1K - $75K
None
1 day
Our take on Upstart
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases. Read our review of Upstart
11.69 - 35.99%
$1K - $50K
560
1 day
Our take on Universal Credit
A Universal Credit personal loan may be a smart choice for borrowers with lower credit scores who want to consolidate debt. Read our review of Universal Credit
7.90 - 35.99%
$1K - $60K
600
1 day
Our take on LendingClub
A LendingClub personal loan is a standout option for qualified borrowers who want to pay off debt with flexible terms. Read our review of LendingClub
6.99 - 35.99%
$2K - $50K
600
1 day
Our take on Best Egg
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt. Read our review of Best Egg
9.95 - 35.99%
$2K - $35K
550
1 day
Our take on Avant
Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high. Read our review of Avant
7.99 - 35.99%
$1K - $36.5K
640
1 day
Our take on LendingPoint
LendingPoint's no-frills personal loans offer fast approval and funding to borrowers with good credit. Read our review of LendingPoint
8.99 - 18.00%
$250 - $50K
None
6 months to 5 years
Our take on Navy Federal Credit Union Personal Loan
Navy Federal Credit Union offers flexible personal loans to military members, veterans and their families. Read our review of Navy Federal Credit Union Personal Loan
7.89 - 18.00%
$500 - $50K
None
6 months to 7 years
Our take on First Tech Credit Union Personal Loan
First Tech Credit Union personal loans are a solid option for members seeking maximum flexibility. Read our review of First Tech Credit Union Personal Loan
7.90 - 35.99%
$1K - $60K
600
2 to 7 years
Our take on LendingClub
A LendingClub personal loan is a standout option for qualified borrowers who want to pay off debt with flexible terms. Read our review of LendingClub
7.74 - 35.99%
$1K - $50K
600
2 to 7 years
Our take on Upgrade
Upgrade accepts lower credit scores than similar lenders, and it offers multiple rate discounts for its personal loans. Read our review of Upgrade
6.70 - 35.99%
$1K - $75K
None
3 to 5 years
Our take on Upstart
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases. Read our review of Upstart
11.69 - 35.99%
$1K - $50K
560
3 to 5 years
Our take on Universal Credit
A Universal Credit personal loan may be a smart choice for borrowers with lower credit scores who want to consolidate debt. Read our review of Universal Credit
7.99 - 35.99%
$1K - $36.5K
640
2 to 6 years
Our take on LendingPoint
LendingPoint's no-frills personal loans offer fast approval and funding to borrowers with good credit. Read our review of LendingPoint
8.99 - 35.49%
$5K - $100K
None
2 to 7 years
Our take on SoFi Personal Loan
SoFi offers large online personal loans with consumer-friendly features for good- and excellent-credit borrowers. Read our review of SoFi Personal Loan
6.49 - 24.89%
$5K - $100K
660
2 to 7 years
Our take on LightStream
LightStream is a solid option for good- and excellent-credit borrowers, with no fees and a promise to beat competitors’ rates. Read our review of LightStream
7.74 - 35.99%
$1K - $50K
600
2 to 7 years
Our take on Upgrade
Upgrade accepts lower credit scores than similar lenders, and it offers multiple rate discounts for its personal loans. Read our review of Upgrade
6.70 - 35.99%
$1K - $75K
None
3 to 5 years
Our take on Upstart
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases. Read our review of Upstart
6.99 - 35.99%
$2K - $50K
600
3 to 5 years
Our take on Best Egg
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt. Read our review of Best Egg
7.90 - 35.99%
$1K - $60K
600
2 to 7 years
Our take on LendingClub
A LendingClub personal loan is a standout option for qualified borrowers who want to pay off debt with flexible terms. Read our review of LendingClub
8.01 - 29.99%
$2K - $45K
640
3 to 5 years
Our take on Rocket Loans
Rocket Loans is a solid online loan option for good- to excellent-credit borrowers who need to borrow money fast. Read our review of Rocket Loans
8.99 - 29.99%
$5K - $50K
640
2 to 5 years
Our take on Achieve Personal Loans
Achieve personal loans can be a good debt consolidation option for borrowers with fair credit or better who qualify for a rate discount. Read our review of Achieve Personal Loans
9.95 - 35.99%
$2K - $35K
550
2 to 5 years
Our take on Avant
Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high. Read our review of Avant
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.
See how different loan amounts, rates, and terms affect your monthly payment
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
What the nerds think
Expert take: How to find the best lender for you
"Finding the best lender takes some legwork, but it mostly comes down to two things: what you can qualify for and what type of loan you want. I recommend starting with eligibility requirements. For example, if you have bad credit, start with lenders that have low minimum credit score requirements. Once you have a few choices, drill down further into loan amounts and repayment terms, to make sure they offer the type of loan you need. You can also keep an eye on perks, like direct payment to creditors if you’re consolidating debt. But the most important tip of all: Pre-qualify, pre-qualify, pre-qualify. Then pick the lender that gives you the best offer, which usually means the lowest rate."
Personal loans are a type of installment loan you borrow from an online lender, bank or credit union that can be used for almost anything. These loans are repaid monthly with fixed interest.
Loan amounts: Most personal loan lenders offer small to midsize loans of $2,000 to $50,000. Some may have a maximum loan amount of $100,000. Depending on the amount you borrow, a personal loan can help with small unexpected expenses, debt consolidation or a large home improvement project.
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. A shorter-term loan means you’ll pay less interest, while a longer repayment term gives you lower monthly payments.
Annual percentage rates: The loan’s APR includes interest and fees, making it the best way to compare affordability 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 won’t change over the life of the loan.
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 late fee for late payments or a nonsufficient 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.
Prepayment penalties: It’s rare for a lender to charge a prepayment penalty for paying off a personal loan early. This is important, since paying the loan off as soon as possible can save you money on interest.
Funding time: 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.
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.
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 (a score in the mid 600s 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.
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 between 40% to 50% (excluding mortgage).
» MORE: Calculate your debt-to-income ratio here
Information about the loan 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.
» MORE: See your estimated payment amount with NerdWallet’s loan calculator
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.
It’s smart to pre-qualify for a personal loan to check your chances of approval and what loan interest rate you may get. This helps you compare loan offers between different lenders, too. Though you’ll need to provide your Social Security number, there’s no impact on your credit score.
Common uses of personal loans include debt consolidation, home renovations and life events. Even when you see loans advertised as wedding, adoption or travel loans, that’s just branding — you’re still getting a personal loan.
An equally important question is: Should you get a personal loan? If you get a loan with a lower rate and affordable monthly payments — and it's the cheapest option available to you — then a personal loan may be a good option for you.
Check out loans for these purposes: Debt consolidation | Home improvement | Emergencies | Weddings
There’s no universal credit score requirement for a personal loan, but most lenders look for scores in at least the high-500s to mid-600s (out of 850). Borrowers with higher scores usually get more competitive rates and terms. Lenders also consider your credit history and annual income before making a credit approval decision. The better your credit and finances, the more likely you are to get approved and qualify for a lower interest rate and higher loan amount.
Shop loans by credit: Personal loans for good credit | Personal loans for bad credit
Shopping around for the best rate is a good idea, but be strategic so you don’t harm your credit. Find lenders that allow you to pre-qualify for a personal loan with a soft inquiry. Pre-qualifying won’t ding your score, so you can check multiple lenders for the best terms. Time your credit applications, including credit cards and loans, roughly six months apart to avoid credit damage.
A bad credit score doesn’t exclude you from getting a personal loan. Some online lenders have low minimum credit score requirements and consider factors like your employment and education — not just your credit score. Still, check your credit report before you apply, and fix any errors that may be bringing down your score. Opting for a secured loan, joint loan or adding a co-signer can all strengthen your chances of getting a personal loan with bad credit.
See options for bad-credit: Cosign and joint loans | Secured loans
Personal loan rates tend to hold steady, collectively ranging from about 7% to 36% APR. Currently, average rates on personal loans are higher than rates pre-pandemic. The actual rate you get depends largely on your credit score, income and how much debt you already have. Borrowers with good to excellent credit scores may receive rates around 15% or lower, while those with bad credit will see rates above 20%.
A small loan from a predatory lender can damage your finances and trap you in a cycle of debt. You can avoid that by knowing the red flags of unsafe loans, such as rates above 36%, short repayment terms and no credit checks. If you need money to cover an emergency, consider options that don't require borrowing, like local nonprofits and community groups that can help with necessary expenses like rent, utilities and groceries.
