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
SoFi Personal Loan See my rateson NerdWallet's secure website	4.5/5 Excellent for Personal loans for excellent credit	8.74-35.49%	$5,000-$100,000	None	See my rateson NerdWallet's secure website
Happy Money See my rateson NerdWallet's secure website	4.0/5 Excellent for good credit + credit card debt consolidation	7.95-29.99%	$5,000-$40,000	640	See my rateson NerdWallet's secure website
LightStream See my rateson NerdWallet's secure website	4.5/5 Excellent for good credit, home improvement, and fast funding	6.49-24.89%	$5,000-$100,000	660	See my rateson NerdWallet's secure website
Upgrade 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
Upstart See my rateson NerdWallet's secure website	4.5/5 Excellent for bad credit + fast funding	6.70-35.99%	$1,000-$75,000	None	See my rateson NerdWallet's secure website
Best Egg See my rateson NerdWallet's secure website	4.5/5 Excellent for fair or good credit	6.99-35.99%	$2,000-$50,000	600	See my rateson NerdWallet's secure website
Achieve Personal Loans See my rateson NerdWallet's secure website	4.0/5 Excellent for Personal loans for fair or good credit + large amounts	8.99-29.99%	$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

4.5

NerdWallet rating

Est. APR

8.74-35.49%

Loan amount

$5,000-$100,000

Min. credit score

None

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Min. credit scoreNone

Key factsSoFi offers large online personal loans with consumer-friendly features for good- and excellent-credit borrowers.

Pros

Multiple rate discounts.
Large loans available.
Has a joint loan option.
Hardship assistance or program for borrowers in need.

Cons

No option to choose initial payment date.
High minimum loan amount.

Qualifications

Must be at least 18 years old in most states.
Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
Must be employed, have sufficient income from another source, 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.

DisclaimerFixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest 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, 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 11/03/25 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. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. 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 change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval. 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 2024 was around $33K. Information current as of 11/03/25. 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.

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Best for

good credit + credit card debt consolidation

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Happy Money

4.0

NerdWallet rating

Est. APR

7.95-29.99%

Loan amount

$5,000-$40,000

Min. credit score

640

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Min. credit score640

Key factsHappy Money offers loans and ongoing support to help fair- and good-credit borrowers consolidate credit card debt.

Pros

Option to pre-qualify with a soft credit check.
Direct payment to creditors with debt consolidation loans.
Hardship assistance or program for borrowers in need.

Cons

Charges an origination fee.
No co-signed, joint or secured loan option.
May take up to a week or longer to fund loans.

Qualifications

Must be at least 18 years old in most states.
Must be a U.S. citizen and provide proof of residency.
Must provide a valid Social Security number, email address and U.S. bank account.
Must provide proof of employment or income.
Minimum credit score: 640.
Minimum credit history: 3 years and 2 accounts.
Maximum debt-to-income ratio: 55%, including mortgage.
Not a resident of Iowa, Massachusetts and Nevada.

Available Term Lengths2 to 5 years

Fees

Origination fee: 0.25% to 10%.

DisclaimerThis offer does not constitute a commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to verify your identity, income, assets, or financial condition. The rate and terms you may be approved for will be shown to you during the application process. Loans subject to an origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements.

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Best for

good credit, home improvement, and fast funding

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LightStream

4.5

NerdWallet rating

Est. APR

6.49-24.89%

Loan amount

$5,000-$100,000

Min. credit score

660

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Min. credit score660

Key factsLightStream is a solid option for good- and excellent-credit borrowers, with no fees and a promise to beat competitors’ rates.

Pros

Competitive APRs.
Rate discounts available.
No fees.
Large loans available with long repayment terms.
·Same-day funding.

Cons

Limited ability to pre-qualify with a soft credit check.
High minimum loan amount.
No direct payment to creditors with debt consolidation loans.
No mobile app to manage loan.

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.

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Best for

fair credit + co-signed and joint loans

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Upgrade

5.0

NerdWallet rating

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 for its personal loans.

Pros

Multiple rate discounts.
Allows secured and co-signed loans.
Fast funding.
Wide variety of repayment term options.

Cons

Origination fee.
No option to choose your payment 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/ .

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Best for

bad credit + fast funding

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Upstart

4.5

NerdWallet rating

Est. APR

6.70-35.99%

Loan amount

$1,000-$75,000

Min. credit score

None

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Min. credit scoreNone

Key factsUpstart 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.

Pros

Accepts borrowers from across the credit spectrum.
Same- or next-day funding.
Has a secured loan option.
Wide range of loan amounts.

Cons

Origination fee.
Only two repayment term options.
No joint or co-signed loans.
No direct payment to creditors on debt consolidation loans.

Qualifications

Must be at least 18 years old in most states.
Must have a valid U.S. bank account, U.S. residential address and email address.
Must provide valid Social Security number.
Must provide verifiable source of income.
Minimum credit score: None.
Minimum annual income: None.
Maximum debt-to-income ratio: 50%, not including rent or mortgage, in most states.

Available Term Lengths3 to 5 years

Fees

Origination: 0% to 12%.
Late fee: 5% of the unpaid amount or $15, whichever is greater.
Insufficient funds 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.

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Best for

fair or good credit

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Best Egg

4.5

NerdWallet rating

Est. APR

6.99-35.99%

Loan amount

$2,000-$50,000

Min. credit score

600

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Min. credit score600

Key factsBest Egg is worth considering for borrowers looking for a secured loan or to consolidate debt.

Pros

Wide range of loan amounts.
Secured loan options.
Direct payment to creditors with debt consolidation loans.
Fast funding.
Free credit score monitoring.

Cons

Charges an origination fee.
No co-signed or joint loan options.

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 5 years

Fees

Origination fee: 0.99% - 9.99%.

Disclaimer*Trustpilot TrustScore as of April 2025. Best Egg loans are personal loans made by Cross River Bank, a New Jersey Chartered Bank, Member FDIC, Equal Housing Lender, or Column N.A., Member FDIC, Equal Housing Lender. 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. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. 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. For a second Best Egg loan, 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 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3‐year $5,000 loan with 7.99% APR has 36 scheduled monthly payments of $155.12. 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 products are not available if you live in Iowa,Vermont, West Virginia, the District of Columbia, or U.S. Territories. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL– Operations Manager, Email: crt-resolutions@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-282-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/

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Best for

Personal loans for fair or good credit + large amounts

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Achieve Personal Loans

4.0

NerdWallet rating

Est. APR

8.99-29.99%

Loan amount

$5,000-$50,000

Min. credit score

640

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Min. credit score640

Key factsAchieve personal loans can be a good debt consolidation option for borrowers with fair credit or better who qualify for a rate discount.

Pros

Multiple rate discounts.
Direct payment to creditors with debt consolidation loans.
Has a joint loan option.
Same- or next-day funding.
Customer support available seven days a week.

Cons

Charges an origination fee.
High minimum loan amount.
Reports payments to only two of the three major credit bureaus.
No mobile app to manage loan.

Qualifications

Minimum credit score: 640.
Maximum debt-to-income ratio: 70%, including mortgage payments.
Minimum credit history: 3 years and 2 accounts.
Must be a U.S. citizen or permanent resident.
Must provide a Social Security number or Individual Taxpayer Identification Number (ITIN).
Must have a valid email address and a valid U.S. bank account.
Must provide proof of residency and proof of employment or income.
Must not live in CO, CT, HI, KS, ME, ND, VT, WV, WI or WY.

Available Term Lengths2 to 5 years

Fees

Origination fee: 1.99% - 8.99%.
Late fee: $8.

DisclaimerPersonal loans are available through our affiliate Achieve Personal Loans (NMLS ID #227977), originated by Cross River Bank, a New Jersey State Chartered Commercial Bank, 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 8.99% to 29.99% 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 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could help you also qualify for lower rates. 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. $6,000 savings: Average savings claims for personal loans are based on 2023 data for 2, 3, and 4-year terms on funded debt consolidation loans for $21,600. Savings will vary based on several factors, subject to credit approval and other conditions. Any savings will be reflected in the offer. Statistics reflect the results of the members we and our affiliates have served since 2002 (as of Jun 2024).

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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