BEST OF
8 Excellent Personal Loans of 2023
Jan 6, 2023
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Compare online personal loans for good and bad credit, debt consolidation, home improvement, fast funding and from banks. The greatest personal loan helps you reach a financial goal, whether it’s paying off high-interest debt or funding a large expense. Annual percentage rates generally range from 6% to 35.99%; the loan with the lowest rate is the least expensive — and usually the best choice. But other features, including no fees, soft credit checks and whether lenders directly pay creditors if you’re consolidating debt, set some loans apart.
| Lender | NerdWallet rating | Est. APR | Loan amount | Min. credit score | Learn more |
|---|---|---|---|---|---|
4.6/5 Excellent for Personal loans for excellent credit | 6.99-35.49% | $5,000-$100,000 | None | See my rateson NerdWallet's secure website | |
4.3/5 Excellent for good credit + credit card debt consolidation | 8.95-35.99% | $5,000-$50,000 | 620 | See my rateson NerdWallet's secure website | |
4.5/5 Excellent for good credit, home improvement, and fast funding | 7.24-24.89% | $5,000-$100,000 | 660 | See my rateson NerdWallet's secure website | |
5.0/5 Excellent for fair credit + co-signed and joint loans | 7.74-35.99% | $1,000-$50,000 | 600 | See my rateson NerdWallet's secure website | |
4.4/5 Excellent for bad credit + fast funding | 6.20-35.99% | $1,000-$75,000 | None | See my rateson NerdWallet's secure website | |
4.5/5 Excellent for fair or good credit | 5.99-35.99% | $2,000-$50,000 | 600 | See my rateson NerdWallet's secure website | |
4.3/5 Excellent for Personal loans for fair or good credit + large amounts | 6.25-35.99% | $5,000-$50,000 | 640 | See my rateson NerdWallet's secure website |
Best for
Personal loans for excellent credit
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SoFi Personal Loan
Est. APR
6.99-35.49%
Loan amount
$5,000-$100,000
Min. credit score
None
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Min. credit scoreNone
Key factsWith lightning-fast funding, no mandatory fees and large loan amounts, SoFi offers one of the best personal loans of any online lender we reviewed.
Pros
- Multiple rate discounts.
- Joint loans.
- Hardship assistance.
Cons
- High minimum loan amount.
- No secured loans.
Qualifications
- Minimum credit score: None.
- Minimum annual income: None.
- Maximum debt-to-income ratio: None.
- Minimum credit history: None.
- Must be at least 18 years old in most states (older in some).
- Must be a U.S. citizen, permanent or non-permanent resident (DACA recipients and asylum seekers included).
- Must provide proof of residency.
- Must be employed, have sufficient income from other sources or have an offer of employment to start within the next 90 days.
Available Term Lengths2 to 7 years
Fees
- Origination fee: 0% to 7%.
- Late fee: None.
DisclaimerWith all discounts. Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting
requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan,
evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time
without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2025 was around $32K.
Information current as of 07/20/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount.
SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take
out a loan originated by Cross River Bank. These rate ranges are current as of 07/20/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility
criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of
your credit worthiness, income, and other factors.
Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan
proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in
which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3)
receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details
on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place.
SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Best for
good credit + credit card debt consolidation
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Happy Money
Est. APR
8.95-35.99%
Loan amount
$5,000-$50,000
Min. credit score
620
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Min. credit score620
Key factsHappy Money lets you consolidate high-interest debt into one fixed monthly payment, but well-qualified borrowers may find lower rates or more flexible options elsewhere.
Pros
- Low starting rates.
- Direct pay to creditors.
- Same-day funding.
Cons
- May have a high origination fee.
- High minimum loan amount.
- Can't add a co-applicant or collateral to boost your chances of qualifying.
Qualifications
- Minimum credit score: 620.
- Maximum debt-to-income ratio: 55%, including housing or mortgage.
- Minimum credit history: 2 years.
- Must provide a Social Security number.
- Must have a valid email address.
- Must provide proof of employment or income.
- Must have a valid U.S. bank account.
Available Term Lengths2 to 5 years
Fees
- Origination fee: 2% to 12%.
- Late fee: $15.
- Non-sufficient funds fee: $15.
DisclaimerThis does not constitute an actual commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to enable us to verify your income, assets, and financial condition. Your interest rate and terms for which you are approved will be shown to you as part of the online application process. The interest rate and Annual Percentage Rate (APR) shown reflect a discount for enrolling in automatic payments ("autopay"). To receive and keep this discounted rate, you must enroll in autopay and maintain automatic payments. If you do not enroll in autopay, your interest rate and APR will be higher than the rate shown. Most applicants will receive a variety of loan offerings to choose from, with varying loan amounts and interest rates. Borrower subject to a loan origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions, and requirements.
Happy Money, Inc. is not a lender and is not the provider of the products or services offered by our Affiliate Partners. Affiliate Partner offers presented on this platform are provided by independent third parties ("Affiliates") with whom you will have a direct contractual relationship if you choose to proceed. Happy Money pays compensation to Affiliates from whom consumers are referred, apply for, and obtain products or services through this platform. This compensation may influence which Affiliate offers are presented and the order or prominence in which they appear; however, it does not affect the terms offered to you by the Affiliate. Happy Money does not endorse, guarantee, or warrant the products, services, rates, or terms offered by any Affiliate, and makes no representations regarding the Affiliate's lending or underwriting decisions. Happy Money plays no role in any credit or approval decisions made by Affiliates and is not responsible for issuing adverse action notices in connection with Affiliate products. If you proceed to an Affiliate's platform, your use of that platform is governed by the Affiliate's own terms of service and privacy policy. This offer does not constitute a commitment to lend or an offer to extend credit. Products and services offered by Affiliates may not be available in all states.
Best for
good credit, home improvement, and fast funding
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LightStream
Est. APR
7.24-24.89%
Loan amount
$5,000-$100,000
Min. credit score
660
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Min. credit score660
Key factsLightStream 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.
Pros
- Competitive APRs
- Rate discounts
- No fees
- Large loans and long repayment terms
- Same-day funding
Cons
- Limited ability to pre-qualify
- High minimum loan amount
- No direct payment to creditors
- No mobile app
Qualifications
- Minimum credit score: 660.
- Maximum debt-to-income ratio: 55%.
- Must provide a Social Security number.
- Must have a valid email address and U.S. bank account.
Available Term Lengths2 to 7 years
Fees
- Origination fee: None.
- Late fee: None.
DisclaimerRates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice). AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $10,000 loan at 7.99% APR with a term of 5 years would result in 60 monthly payments of $202.72. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2024 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Best for
fair credit + co-signed and joint loans
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Upgrade
Est. APR
7.74-35.99%
Loan amount
$1,000-$50,000
Min. credit score
600
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Min. credit score600
Key factsUpgrade accepts lower credit scores than similar lenders, and it offers multiple rate discounts and terms up to seven years. But you'll pay an origination fee that adds to the cost of the loan.
Pros
- Multiple rate discounts
- Secured and co-sign loans
- Fast funding
- Range of loan amounts and repayment terms
Cons
- Origination fee
- No option to choose repayment date
Qualifications
- Minimum credit score: 600.
- Minimum annual income: None.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum credit history: 3 years and 1 account.
- Must be a U.S. citizen and provide a valid Social Security number, email address, proof of residency and U.S. bank account.
Available Term Lengths2 to 7 years
Fees
- Origination: 1.85% to 9.99%.
- Late fee: Undisclosed.
DisclaimerPersonal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.74%-35.99% and a 1.85%-9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For certain discounts, collateral may be required. Repayment terms from 24 to 84 months. For example, if you receive a $10,000 unsecured loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR and other terms of your loan may vary and you may not be presented with multiple offers. If offered, your loan terms, including your rate, will depend on credit score, credit usage history, loan amount, and other factors. Late payments or other fees, as noted in your Borrower Agreement, may increase the cost of your fixed rate loan. Certain loan offers may not be available in all states. Upgrade is a financial technology company, not a bank. Personal loans issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/ .
Best for
bad credit + fast funding
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Upstart
Est. APR
6.20-35.99%
Loan amount
$1,000-$75,000
Min. credit score
None
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Min. credit scoreNone
Key factsWith its nontraditional underwriting model, Upstart is one of the best loan options available if you have a low credit score or limited credit history.
Pros
- No credit score requirement.
- Wide range of loan amounts.
- Fast funding.
- Range of loan amounts
Cons
- Origination fee.
- Only two repayment term options.
- No direct payment to creditors.
Qualifications
- Minimum credit score: None.
- Minimum annual income: None.
- Maximum debt-to-income ratio: None.
- Minimum credit history: None.
- Must be 18 years or older.
- Must provide a Social Security number and proof of residency.
- Must have a valid U.S. bank account and valid email address.
- Must provide proof of employment or income.
Available Term Lengths3 to 7 years
Fees
- Origination fee: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Returned check fee: $15.
DisclaimerThe full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.60% and a 8.51% origination fee of $851, for an APR of 23.07%. In this example, the borrower will receive $9149 and will make 60 monthly payments of $258. APR is calculated based on 5-year rates offered in December 2024. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Best for
fair or good credit
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Best Egg
Est. APR
5.99-35.99%
Loan amount
$2,000-$50,000
Min. credit score
600
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Min. credit score600
Key factsBest Egg offers a unique secured loan option, but not joint or co-sign loans. It's a good option for home improvement or debt consolidation loans, with a wide range of loan amounts and fast funding.
Pros
- Range of loan amounts
- Secured loans
- Direct payment to creditors
- Next-day funding
- Free credit score
Cons
- Origination fee
- No co-sign or joint loans
Qualifications
- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70%, including mortgage payments.
- Minimum credit history: 3 years and 1 open account.
- Must provide a Social Security number, a valid U.S. bank account and proof of employment or income.
- Must not have any previous bankruptcies.
- Must be a U.S. citizen and at least 18 years of age.
- Cannot live in Iowa, Vermont, West Virginia or Washington, D.C.
Available Term Lengths3 to 7 years
Fees
- Origination fee: 0.99% - 9.99%.
DisclaimerBest Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of
Columbia, or U.S. Territories. Eligibility is not guaranteed. The term, amount and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. If offered, your loan agreement will contain specific terms and conditions. Your application is complete when you submit it to Best Egg. Your acceptance of an offer may impact your credit score. The timing of available funds upon loan approval may vary depending upon your bank’s policies. After successful verification your money can be deposited in your bank account within 1-3 business days. Loan amounts range from $2,000–$50,000. Residents of Massachusetts have a minimum loan amount of $6,500; Ohio, $5,001; and Georgia, $3,001. Only two active Best Egg loans are available at one time and your total existing Best Egg loan balances cannot exceed $100,000.
Annual Percentage Rates (APRs) range from 6.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–9.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4 years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. Eligibility for the best available rate subject to creditworthiness. For example: a 5-year $10,000 loan with a 9.99% APR has 60 scheduled monthly payments of $201.81; a 3-year $5,000 loan with 6.99% APR has 36 scheduled monthly payments of $152.83. Best Egg loans can be prepaid at any time without penalty. Barring any unforeseen circumstances, Best Egg loans have a minimum term of 36 months and a maximum term of 60 months. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.. Best Egg loans are personal loans made by Cross River Bank, a New Jersey Chartered Bank, operating from its Wilmington, Delaware branch location, Member FDIC, Equal Housing Lender, or Column N.A., Member FDIC, Equal Housing Lender. © 2026 Marlette Marketing, LLC. All rights reserved.
The Best Egg Secured Loan + Homeowner Discount is not available if you live in Connecticut, Iowa, Louisiana, Vermont, West Virginia, the District of Columbia, or U.S. Territories. Eligibility is not guaranteed. The term, amount and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. If offered, your loan agreement will contain specific terms and conditions. Your application is complete when you submit it to Best Egg. Your acceptance of an offer may impact
your credit score. The timing of available funds upon loan approval may vary depending upon your bank’s
policies. After successful verification, your money can be deposited in your bank account within
1-3 business days. Loan amounts range from $5,000–$50,000. Residents of Massachusetts have a minimum
loan amount of $6,500; and Ohio, $5,001. Only two active Best Egg loans are available at one
time and your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 5.99%–29.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 1.49%–9.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. Eligibility for the best available rate subject to creditworthiness. For example: a 7-year secured loan of $25,000 with an APR of 9.99% has 84 scheduled monthly payments of $402.48, and a 3-year secured loan of $5,000 with an APR of 5.99% has 36 scheduled monthly payments of $150.57. Best Egg loans can be prepaid at any time without penalty. Barring any unforeseen circumstances, Best Egg loans
have a minimum term of 36 months and a maximum term of 84 months. The Best Egg Secured Loan + Homeowner Discount is a personal loan secured using a lien against the fixtures in your home. Fixtures are items permanently attached to your home as defined under applicable law. This will be your collateral for the loan. Rest assured, your home itself will not be used as collateral. Best Egg will have a lien against the fixtures until you repay your Best Egg Secured Loan in full and will file a Uniform Commercial Code notice of this lien in your local jurisdiction. If you have multiple Uniform Commercial Code - 1 (UCC-1) secured by the same collateral, then these liens will all be subject to a single Uniform Commercial Code filing. Best Egg will release each lien as the respective loan is paid in full and will release the UCC-1 filing when all such loans are repaid in full. Your home may be more difficult to sell if it is
subject to one or more liens. If you sell or transfer your home without repaying in full all UCC-1 secured by the collateral, Best Egg’s lien(s) will remain in place, and your loan(s) will immediately become due in full. If you file for bankruptcy, your home enters foreclosure, or you sell your home and don’t repay your loan within 30 days of its sale, Best Egg or subsequent owners of your Best Egg Secured Loan(s) may participate in the related proceedings to collect what you owe on your loan(s). This may include repossessing the collateral. If you co-own your home, at least one co-owner must provide their consent for your Best Egg Secured Loan(s), including the lien(s) against the fixtures in your home, as part of your application. Any co-owner of your home will not, however, be obligated as a borrower and Best Egg will not check their credit report. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg loans are personal loans made by Cross River Bank, a New Jersey Chartered Bank, operating from its Wilmington, Delaware branch location, Member FDIC, Equal Housing Lender, or Column N.A., Member FDIC, Equal Housing Lender. The Best Egg Secured Loan + Homeowner Discount is originated exclusively by Cross River Bank. © 2026 Marlette Marketing, LLC. All rights reserved.
Best for
Personal loans for fair or good credit + large amounts
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Achieve Personal Loans
Est. APR
6.25-35.99%
Loan amount
$5,000-$50,000
Min. credit score
640
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Min. credit score640
Key factsConsider Achieve if you have fair credit or better and need to borrow at least $5,000. This lender has special perks if you use the loan to consolidate debt, but be prepared to pay an origination fee.
Pros
- Multiple rate discounts.
- Fast funding.
- Accepts a variety of applicants.
Cons
- High starting loan amount.
- Origination fee.
- Can't have a thin credit profile.
Qualifications
- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70%, including mortgages.
- Minimum credit history: 3 years and 2 accounts.
- Must provide a Social Security number or Individual Taxpayer Identification Number (ITIN).
- Must be a U.S. citizen or a permanent resident.
- Must have a valid email address.
- Must provide proof of residency.
- Must provide proof of employment or income.
- Must have a valid U.S. bank account.
Available Term Lengths2 to 5 years
Fees
- Origination fee: 1.99% to 9.99%.
- Late fee: $8.
DisclaimerPersonal loans are available through our affiliate Achieve Personal Loans (NMLS ID #227977), originated by Cross River Bank, Delaware Branch, Equal Housing Lender. Loan applications are subject to credit review, underwriting criteria, and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. For loans $35,000+ must have a minimum 660 credit score. APRs range from 6.25% to 35.99% and include applicable origination fees that vary from 1.99% to 9.99%. Repayment periods range from 24 to 60 months. Example loan: four-year, $20,000 loan with an origination fee of 8.99%, a rate of 15.49%, and corresponding APR of 20.77%, would have an estimated monthly payment of $561.60 and a total cost of $26,966.26. To qualify for a 6.25% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Loan Consultants for Achieve Personal Loans are available Monday-Friday 6 AM to 8 PM AZ time, and Saturday-Sunday 7 AM to 5 PM AZ time.
Last updated on January 6, 2023
To recap our selections...
NerdWallet's Excellent Personal Loans of 2023- SoFi Personal Loan: Excellent for Personal loans for excellent credit
- Happy Money: Excellent for good credit + credit card debt consolidation
- LightStream: Excellent for good credit, home improvement, and fast funding
- Upgrade: Excellent for fair credit + co-signed and joint loans
- Upstart: Excellent for bad credit + fast funding
- Best Egg: Excellent for fair or good credit
- Achieve Personal Loans: Excellent for Personal loans for fair or good credit + large amounts