Best Personal Loans of September 2026: See Rates and Requirements

Details about our picks for the best personal loans

The NerdWallet editorial team recently completed our annual assessment of more than 35 online lenders, credit unions and banks that offer personal loans. We collected hundreds of data points, tripled-checked every point for accuracy and applied our unique methodology that factors cost as most important. We also scored lenders on customer experience, loan flexibility, underwriting practices and application process.

Our analysis ultimately surfaced our picks for the best personal loans. Here's why they’re standouts, as well as their potential downsides.

Discover, best for low rates and no fees

Why we like it: Discover is the highest-rated lender on our list, offering exceptionally low interest rates plus zero fees. Even without the rate discounts that other lenders offer, a Discover loan may be the lowest-cost option for qualified borrowers.

Discover also offers more flexibility than many other lenders when it comes to managing your payment dates. You can choose when your monthly payment is due and switch that due date twice during the span of the loan, as long as there’s a year between those two changes.

The downside: You'll need good credit to qualify. Discover’s minimum credit score is 660, among the highest of the lenders we review.

Earnest, best for borrowers with good or excellent credit

Why we like it: Earnest is new among the lenders we assessed this year, and we're particularly impressed with its low APRs. On top of low starting rates, Earnest offers multiple rate discounts that can further lower the cost of your loan.

If your credit is strong enough to qualify for an Earnest loan, you could get funded fast. The lender told us it typically makes instant approval decisions and often sends funds the next day.

The downside: Earnest’s minimum credit score of 680 is the highest on this list. Earnest also told us its average borrower has a credit score of 720 and an average annual gross income of $100,000 or more.

Upgrade, best for borrowers with fair credit

Why we like it: There’s a lot to like about personal loans from Upgrade, which has a relatively low minimum credit score of 600, making it accessible to more people.

The online lender offers multiple rate discounts: for setting up autopay, securing your loan with collateral and — for debt consolidation loans — letting it directly pay your lenders.

Upgrade also offers a variety of repayment terms, ranging from two to seven years, and multiple loan types. In addition to single-borrower unsecured loans, you can apply for a co-signed loan or a secured loan, using a vehicle or home fixtures as collateral.

The downside: Upgrade charges an origination fee of 1.85% to 9.99% of your loan amount.

SoFi, best for large loan amounts

Why we like it: SoFi provides loans up to $100,000 for those who qualify, which is a higher max than what most other lenders offer. You can also get a joint loan with another borrower, which may help you manage that large loan.

The lender also offers multiple rate discounts, including a reduction of 0.25 percentage points for setting up autopay.

The downside: SoFi’s smallest loans start at $5,000, so it’s not the right lender if you need a smaller loan.

Happen Bank (formerly LendingClub), best for debt consolidation loans

Why we like it: If you’re aiming to pay off multiple debts, Happen Bank (which rebranded from LendingClub in June 2026) can simplify the process by sending the loan proceeds to up to 12 creditors. It also offers a rate discount if you opt into this feature.

The downside: LendingClub may charge an origination fee up to 8% of your loan amount.

Patelco Credit Union, best for a wide range of loan amounts and terms

Why we like it: For members of Patelco Credit Union, these loans can serve a range of borrowing needs, with loan amounts from $300 to $100,000, and terms from six months to seven years. That’s a wider spread than most other lenders offer.

Patelco personal loans also stand out for offering ways to get a lower rate: You could add a more credit-worthy co-signer or secure your loan with a vehicle or savings account.

The downside: Funding can take two to three days, which is a slower turnaround time compared to other lenders on this list.

LightStream, best for home improvement loans

Why we like it: LightStream offers repayment plans of up to 20 years for loans greater than $25,000 that are used for home improvement projects. It’s also a solid choice for other large expenses — its loan amounts range from $5,000 to $100,000, which is higher than most other lenders.

LightStream also shines for charging no fees and allowing co-borrowers.

The downside: LightStream doesn’t allow you to pre-qualify with a soft credit check on its website, which is unusual. However, you may be able to check your rates with LightStream through partner sites like NerdWallet.

Upstart, best for borrowers with bad credit or short credit histories

Why we like it: Upstart is unique in that it says it doesn’t have a minimum requirement for credit score or credit history. While many lenders base approval decisions primarily on credit and income, Upstart also factors in details like college education and work history.

Upstart also offers a secured loan option, allowing qualified applicants to pledge their vehicle as collateral, which can also help approval chances.

The downside: Upstart has a maximum origination fee of 12%, which is higher than that of most other lenders.

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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How to choose the best personal loan for you

Personal loan amounts, terms and rate ranges can be similar between lenders. So how do you know which is best? Here are the factors to consider when comparing personal loans.

Aim for a low annual percentage rate

The loan’s APR includes interest and fees, making it the best way to compare total cost 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 and monthly payment amount won’t change over the life of the loan.

💡Tip: The rate you receive depends on multiple factors, so even borrowers with perfect credit may not qualify for a lender's lowest rate. Here are the average APRs by credit band that borrowers who pre-qualified with NerdWallet received over the last 30 days:

Determine how much you need to borrow

Most personal loan lenders offer small to midsize loans of $2,000 to $50,000, although a few offer amounts up to $100,000. Consider how much you need to borrow, then look for lenders that match what you need.

💡Tip: Avoid the temptation to request more than you need. You have a better chance of qualifying for an amount the lender thinks you can afford.

Consider different 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. Think about how long you want to be repaying your loan.

💡Tip: A shorter-term loan means you’ll pay less interest overall, while a longer repayment term gives you lower monthly payments.

Ask yourself how quickly you need the funds

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.

💡Tip: You can speed up the process by promptly submitting any required documents and responding to lenders’ questions.

Factor in 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 fee for late payments or a non-sufficient 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.

💡Tip: It’s typically best to avoid origination fees. But if a loan with an origination fee has a lower APR, it could cost less overall than a loan without the fee.

» MORE: How to get a personal loan in 7 steps

Personal loan calculator

Use our calculator to see how different loan amounts, rates and terms affect your monthly payment.

» MORE: Get details on how our loan payment calculator works

How to qualify for a personal loan

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. Here's what lenders told NerdWallet they like to see.

Know your credit

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.

Determine your debt-to-income ratio

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 below 50% (excluding mortgage).

» MORE: Try our debt-to-income calculator

Consider the loan details

Information about the loan you’re applying for 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.

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.

Pre-qualify with multiple lenders

We always recommend pre-qualifying for a personal loan to check your chances of approval and what interest rate you may get. This helps you compare loan offers between different lenders, too, and has no impact on your credit score.

You can pre-qualify through the lenders’ websites or through NerdWallet, where you can see offers from several lenders within minutes.

» NEXT: Pre-qualify through NerdWallet