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Compare The Best Personal Loans

Compare and choose the right personal loan provider for your needs, whether it's for a major purchase debt consolidation, or credit card refinancing. To get started, filter the results, check your rate, and learn more about borrowing in the guide below.

location NY, Brooklyn privacyWe value privacy
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Key Facts

  • Free-to-use marketplace with a choice of vetted lending partners.
  • Borrowers are in control and can compare competitive loan options.
  • No prepayment fees and origination fees as low as 0%
  • Max Loan Amount: $100K

Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 6.99% – 35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 12%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 3, 2022, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lowest rate advertised is not available for all loan sizes, types, or purposes, and assumes a very well qualified borrower with an excellent credit profile.

To check the rates and terms you may prequalify for, Credible conducts a soft credit pull that will not affect your credit score. If you choose a lender and continue with your application, the lender will usually conduct a hard credit pull that may impact your credit score.

Debt consolidation and credit card refinancing involve using a new loan to pay off your existing balance. This does not eliminate debt, but replaces one debt with another. While personal loan rates generally are lower than credit card interest rates, you may pay more in origination fees and interest over the life of the loan depending on other loan terms. Please consult a financial advisor to determine if refinancing or consolidating is right for you.

Bonus disclosure:
“All bonus payments are by gift card.”

*Not all available financial products and offers from all financial institutions have been reviewed by this website

  • 550 Min Credit
  • 1-7 years Loan Term
  • 6.99-35.99% APR Fixed
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Key Facts

  • Competitive rates available for good credit scores and income source
  • Access to financial advisors, private networking events, & unemployment protection
  • Flexible terms & payment options with no fees whatsoever
  • Max Loan Amount: $100K

“SoFi” is a registered trademark of Social Finance, Inc. SoFi is not affiliated with colleges and universities listed on SoFi.com. Colleges and universities listed on SoFi.com do not endorse, promote or recommend SoFi loan products.

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 and 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 listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 1121636. (www.nmlsconsumeraccess.org)

Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

©2022 Social Finance, Inc. All rights reserved.”

Fixed rates from 3.99% APR to 9.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 01/16/24 and are subject to change without notice. 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 and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of 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 0%-6%, which 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.Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

  • 680 Min Credit
  • 24 to 84 months Loan Term
  • 8.99-29.99% APR Fixed
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Key Facts

  • Useful mobile app to manage your loan
  • Accepts co-signer and joint applications
  • Wide range of term lengths and amounts

This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will suit their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also assess brands we are not engaged with).

These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewers’ findings and subjective experience, and product popularity, impact the placement and position of the brands within the comparison table. In the event that we assign ratings or scoring, they are based on the standing in the comparison table or according to the other formula in the event detailed explicitly by us. See our How we Rate page and Terms of Use for information.

The reviews, ratings, and scoring are provided “as is” without guarantees or warranties regarding the information contained on our website, which shall not be considered as endorsement. We do our best to keep the information up-to-date. However, an offer’s terms might change at any time. We do not compare or include all service providers, brands, and offers available in the market. Loan Payment Example: A $35,000 personal loan financed at 4.99% APR would amount to 60 monthly payments of approximately $676.49 each.

  • 690 Min Credit
  • 1 to 5 years Loan Term
  • 8.49-17.99% APR Fixed
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Key Facts

  • Discounts for Upgrade account owners
  • No prepayment fees
  • Fast funding in 1-4 days

Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 1.85% to 9.99% origination fee), you would receive $9,500 in your account 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 on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade’s bank partners. Information on Upgrade’s lending partners can be found at https://www.upgrade.com/lending-partners/.

Fast Funding Disclosure: *Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within one (1) business day. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

  • 580 Min Credit
  • 24-84 months Loan Term
  • 8.49-35.99% APR Fixed
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Key Facts

  • Wide range of loan term lengths.
  • No prepayment penalties.
  • Enjoy additional services Axos offer.

Axos Bank® offers bank products and services. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank. All deposit accounts of the same ownership and vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and vesting at Axos Bank. For more information, read our FDIC Notice. Axos Bank NMLS# 524995. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month for a total amount of $18,432.


  • 690 Min Credit
  • 3 - 6 Yrs Loan Term
  • 11.79-20.84% APR Fixed
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Key Facts

  • Good credit gets low rates and zero fees
  • Fast and easy online process
  • $100 Loan Experience Guarantee¹
  • Max Loan Amount: $100K
  • Powered by Credible

LightStream is a part of Truist Bank. While most correspondence will come from LightStream, you might notice the name Truist on certain communications from us. We continue to serve customers across all 50 states, and you do not need to be an existing customer to qualify for a LightStream loan.

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and credit profile. The lowest rates require excellent credit. At least 22% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 07/01/2022 to 09/30/2022.

Rate is quoted with an AutoPay discount. AutoPay discount is only available before loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.

  • 660 Min Credit
  • 2-7 years Loan Term
  • 6.99-25.49% APR Fixed
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Key Facts

  • Flexible repayment options
  • Great for customers with bad credit score
  • Safe and secure

Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680

  • 580 Min Credit
  • 12 to 60 months Loan Term
  • 9.95-35.99% APR Fixed

Looking for a Home Equity Loan?

June 2024

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Key Facts

  • Mortgage Types: Purchase, Refinance, Home Equity, Adjustable, Fixed
  • Min. Credit Score: 620
  • APR: Undisclosed
  • NMLS#: 3030


pros iconClosing costs rolled into loan automatically

pros iconSmartphone app

pros iconSyncs with your bank account for easy application process

pros icon98% of financial institutions supported for digital asset verification


cons iconCan’t have face-to-face interaction with loan officer; online only

cons iconNo alternative credit data considered

  • check mark Convenient, fixed-rate payments
  • check mark Support from qualified Home Loan Experts
  • check mark Finance your next big home improvement project
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Key Facts

  • Mortgage Types: Home equity
  • Min. Credit Score: 550
  • APR: Undisclosed


pros iconProvides flexibility to use cash for a variety of purposes without incurring monthly payments or interest charges

pros iconOffers the opportunity to buy back equity at any time during the agreement

pros iconDesigned to be a flexible option for homeowners who may not qualify for traditional home equity loans or credit lines

pros iconCan help homeowners facing financial hardship or who are looking for a way to access the equity in their property


cons iconInvolves giving up a stake in the future value of your home

cons iconEach home equity agreement is subject to individual underwriting review, which means that not all borrowers may qualify

cons iconMay not be suitable for homeowners who are looking to borrow a large amount of money or who need a long-term financial solution

cons iconSome homeowners may prefer the security of a traditional loan or credit line that is secured by their home as collateral

  • check mark Minimum credit score as low as 550
  • check mark No obligation; quote within a few minutes
  • check mark Quick and easy online experience

Alternative Solutions to a Debt Consolidation Loan

June 2024

Debt Consolidation
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Key Facts

  • Recommended for more than $25,000 of unsecured debt
  • Fees between 18-25% of enrolled debt
  • Cannot be used for collateral-based debts
  • Only available in 32 states


pros iconCould help reduce the total debt owed

pros iconWilling to work with people who have been turned away or rejected by most other lenders or debt consolidation companies

pros iconOffers consumers more control over their current debt than making recurring minimum payments and increasing overall debt


cons iconThough debt can be lowered, the service itself does have a fee associated

cons iconEnrolling on to this program will lower your credit score

  • check mark Recommended debt: $25,000+
  • check mark Over $15 billion in debt resolved
  • check mark Served over 850,000 clients since 2002

It's Simple to Start Your Personal Loan Search

If you’re on the hunt for a personal loan, you may be wondering, what is a personal loan, exactly? A personal loan is money you borrow from a lending institution — be it a bank, credit union, or another third-party lender—which you will pay back over a fixed period of time. In today’s digital age, there are plenty of reputable online loans to choose from, which can be great when comparing personal loan rates.

Recommended Personal Loan Lending Partners

There are several steps involved that you’ll want to consider when searching for personal loans online.

Let’s go through each of them:

Step 1: Where to get a personal loan

First thing’s first. Where do you get a personal loan? As mentioned earlier in this article, you can obtain a personal loan from a bank, credit union, or online lending partner. A bank is the most traditional route, but credit unions are known for offering more flexible terms and rates.

You can also find personal loans online. It may require a bit more research to ensure they’re reputable and safe to use, but they can provide a convenient means to obtaining an online personal loan quickly.

Step 2: Get pre-qualified

If you want to get a quick idea of what kind of loans you qualify for — be it low interest personal loans, small personal loans, quick personal loans, and so on — get pre-qualified.

Many online lending partners can get you pre-qualification rates by conducting a soft credit check, which will not harm your credit score. Some information you may be asked for during this process includes the following:

  • Personal information: such as your name and social security number
  • Contact information: such as your phone number and email address
  • Employment details: such as your employer’s name and your gross income
  • Monthly obligations: such as any outstanding student loan debt, rent, etc.

Step 3: Start shopping

Once you have a general idea of what you qualify for and what kind of lending institution you feel comfortable borrowing from, the next step is to start shopping around for the best personal loan companies.

We recommend comparing rates from banks, credit unions, and online lenders to find the best personal loan rates. You’ll want to look at important information like APR, loan amounts, monthly payments, and fees.

Step 4: Always read the fine print

If an offer sounds too good to be true, it just may be. This is why it’s crucial to always read the fine print and conditions, and carefully review the loan agreement terms. While a lender may offer a great interest rate, they may be charging exorbitant fees, making it more expensive than another lender offering a higher interest rate.

Step 5: What happens after you apply

The entire application process, from approval to funding disbursement can take anywhere from 1 business day, to a week, or longer. Most lending partners will provide you with a timeline for how long it will take to get approved or denied, and how long it will then take to receive funds.

Top 3 Personal Loan Lending Partners

  • Fixed APR: 6.99 - 35.99%
  • Loan Term: 12-84 months
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sofi logo
  • APR: 8.99-25.81%
  • Loan Term: 24-84 months
View rates
penfed logo
  • Useful mobile app to manage your loan
  • Accepts co-signer and joint applications
View rates

Important terms to know:

Prepayment penalties: A fee for paying off the loan early. Some lending partners will charge you with a prepayment penalty fee simply for paying off the loan earlier than planned. After all, they’re missing out on the interest you would have been paying had you not paid the loan off early.

Origination fees: This is an upfront fee that some lenders will charge, essentially a cost for processing a new loan application. They are usually a percentage of the total loan.

APR: The Annual Percentage Rate (APR) is the total yearly interest rate. It factors everything in, including any fees, which is why it’s an important item you’ll want to look at when comparing lenders.

Late fees: This is a fee you’ll get hit with if you are late on a payment. The majority of lenders have some form of late fee, but some offer a nice grace-period before charging you. It’s important to know what kind of late fees you may be facing in the case that you’re ever late on your payments.

What do I need to get started?

Before diving into selecting a personal loan lending partner, it’s important to understand what you’ll need so you’re fully prepared. Let’s take a look:

Credit score

When applying for a personal loan, your credit score and credit history is everything. You will need to know where your credit score falls in the typical ranges (below), and generally what your credit report looks like. This, among a few other factors like debt-to-income ratio and income, will determine what kind of rates and terms you’ll be getting from lenders. The higher your credit score, the better the terms will be.

Credit Score Rating
720 and up Excellent credit score
690 - 719 Good credit score
630 - 689 Average credit score
300 - 629 Poor credit score

While you can request a free credit report from any of the three major credit bureaus—Equifax, Experian, and TransUnion—they do not include your actual credit score in the report. You can, however, purchase your credit score from them. You can also check a previous loan statement, credit card, or financial institution to get your credit score.

Loan amount and loan purpose

One of the first things a lender will ask for is how much money you need in total, and what it will be for. This will help narrow your search since many lenders have a personal loan minimum and maximum amount you can apply for.

The purpose of the loan can be refinancing, a major purchase, and so on.

Repayment terms

Personal loans come with a set period of time in which you pay off the loan. This can range from 12 months to 60 months or longer. While longer repayment periods can ease the burden and lower the cost of your monthly payments, keep in mind that paying back your loan over a longer period of time means paying more in interest in the long-run.

Documents and details

We already reviewed some basic information you’ll need to have for the pre-qualification process, but there’s more you’ll want to have ready on hand when you submit your full application with a lending partner or marketplace.

Here is a list of the documents or information you will likely have to submit:

  • Bank account information
  • Bank statements
  • Employment and income information (such as W2s)
  • Personal Identification
  • Collateral (for secured personal loans)

Calculate how much you can afford each month

When taking out a personal loan, one of the first things you’ll want to know is how much you can afford for your monthly payments. Luckily, many lenders and websites offer a monthly payment calculator that lets you see how the different terms affect your monthly payment.

Typically, you will need to enter things like your loan amount, terms, interest rate, credit score, and income to get an idea of your monthly payments.

Good things to know

As you search for a personal loan, you’ll encounter plenty of financial terminology. Let’s cover a few of the most important terms so you feel comfortable moving forward:

  • What makes a loan “secured” is when you back it up with some form of collateral, such as a home. This places less risk on the lending partner since they can claim the collateral if you default on your loan.
  • Unsecured personal loan: This type of personal loan is the most common and does not use any collateral. Since there is more risk to the lender, unsecured personal loans typically have higher interest rates than secured loans.
  • Fixed rate: Most loans today are fixed rate, meaning the borrower can lock in their interest rate which will never change over the life of the loan.
  • Variable rate: Unlike a fixed rate, a variable rate is an interest rate that can change depending on the market, making it harder to predict your monthly payment.
  • Cosigner: Adding a cosigner to your personal loan means having someone share the responsibility of the loan. If you do not qualify for a loan, having a cosigner with a better credit score or credit history can help get you approved or lock in a low-interest personal loan.
  • Marketplace lender: If you’re looking for quick personal loans, a marketplace lender offers a platform to compare multiple lenders within their network.
  • Direct lender: This type of lender provides personal loans directly to the borrower.

Comparing offers from multiple lending partners - which is right for you?

Now that you have a better understanding of the loan process and some common loan terms, you’re ready to determine if a lender is truly offering the best personal loans online.

When comparing multiple loan offers from various lenders, you’ll first want to know what your monthly payments will be. This is why it’s important to first figure out how much you can afford to pay each month. You can look at the terms and rates from the lenders you are comparing to see if you can afford the payments.

When you’re comparing lenders, you’ll want to pay attention to the APR. By law, all lenders must provide you with an APR, including any fees.

Remember that rates and terms depend on things like your credit score, credit history, debt-to-income ratio, and income. Some lenders are more favorable to those with great credit and will offer these individuals the best personal loan rates, while rejecting those with subpar credit scores. There are, however, plenty of lenders who cater to those with low credit scores and will offer reasonable rates. You just have to shop around.

Online-only lenders vs. traditional lenders

If this is your first time searching for a personal loan, you may only be familiar with loans directly from your brick-and-mortar bank or credit union. You might be less familiar with online-only lenders and what they can offer as well. We've compared them below.

Traditional lenders | Pros

  • Safe and secure, less likely to be scams
  • Larger banks often have brick and mortar where you can speak to someone in person
  • You can qualify for a larger loan amount if you are already a customer
  • Sometimes you can get a discounted interest rate with a bank if you are an existing customer with a good record.

Traditional lenders | Cons

  • Stricter qualifications
  • More limited when it comes to interest rates and terms
  • The application, approval, and funding process can be slower than with online lenders

Online-only lenders | Pros

  • Online lending partners often make the loan process quicker and easier
  • Offer pre-qualification, which runs a soft credit check only
  • You can quickly compare offers from various online lenders
  • Less strict qualifications
  • Easy personal loans to obtain compared to banks
  • Offer small personal loans and large personal loans

Online-only lenders | Cons

  • It's recommended to check the credibility of the site and the level of security when sharing your personal information.
  • If you are an existing customer of a bank or credit union, you might be able to get better terms.
  • It's harder to speak with someone in person. Communication is typically limited to online chat, phone, or email.

One of the biggest reasons why people defer from online lending services is the trust factor. With large banking companies or even local banks in your area, you can feel more assured since you can usually go into the physical branch and speak with someone. With online lenders, you should be extra diligent in your search and do proper research.

Loan Examples

A 5‐year $10,000 loan with 9.99% APR has 60 scheduled m. payments of $201.81 to a total of $12,108.6.
A 3‐year $5,000 loan with 5.99% APR has 36 scheduled m. payments of $150.57 to a total of $5,420.52.


1. What can I use a personal loan for?
The beauty of a personal loan is that it can be used for virtually anything—medical expenses, a vacation, a major purchase, and so on. There typically aren’t any limits to what you can use it for.

2. Who qualifies for a personal loan?
It can be easier to qualify for a personal loan if it’s secured, but if you’re choosing an unsecured personal loan, lenders will determine your eligibility based on things like credit score, credit history, income, employment stability, and debt-to-income-ratio.

3. Will applying for a personal loan hurt my credit score?
When pre-qualifying for a personal loan, lenders conduct a soft credit check, which does not harm your score. Once you move forward with a specific lending partner, they will conduct a hard credit inquiry, which can affect your credit score.

4. What information will I need when I apply?
Lenders will ask for your bank information, contact information, bank statements, pay stubs, and a driver’s license when you apply.

5. How much am I able to borrow and for how long?
How much you can borrow and for how long depends on your financial profile as well as the lender. Some lenders will have a loan minimum and maximum when it comes to loan amount, and a repayment term range, such as 36-60 months.


When it comes to securing a personal loan with the best rates and terms, the more you know about the process and everything involved, the better. Hopefully this guide answered any questions you may have had about what a personal loan is and how to go about obtaining one. The next step is to find the perfect lender for your financial situation.