Money to
pay off credit card debt.
cover an unexpected bill.
bridge the gap between jobs.
pay the auto repair shop.
enroll in an online course.
Use a personal loan however you need – whether it’s to consolidate debt, refinance high-interest credit cards, fund a major purchase, or as a short-term fix.
A personal loan can help you with debt consolidation, a big purchase, or just about any other purpose.
Most offer a fixed-rate and don’t require any collateral (such as a car or house). Plus, personal loans are flexible, featuring monthly installments over a specific term – usually two to seven years.
Strong lenders offer fast funding, a straightforward application, low interest rates to qualified borrowers, and low (or no!) fees.
Because you can get a personal loan from many banks, credit unions, and online lenders, shopping loans can be a time-intensive task.
Your credit history, desired loan amount, and location will all play a big part in dictating which company is best for you.
But don’t worry, we’ve made it easy to compare offers and get pre-qualified, fast.
Last updated January 2025
Best Personal Loan Lenders For You
Compare the top-rated lenders below. When you’re ready, click check your rate. You’ll answer just a few quick questions and then be paired with actual quotes based on your information.
You must complete a loan application and continue to meet any criteria used to select you for a loan offer. Not all applicants are approved. Loan approval and actual loan terms depend on applicant’s state of residence and ability to meet OneMain Financial credit standards such as a responsible credit history, sufficient income after monthly expenses, and if applicable, availability of eligible collateral.
Not all approved applicants qualify for larger loan amounts, lower APRs, or the most favorable loan terms.For example, larger loan amounts typically require a first lien on a motor vehicle that is no more than ten years old, meets our value requirements, and is titled in applicant’s name with valid insurance. APRs are generally higher on loans not secured by a vehicle. Example Loan:A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
OneMain charges origination fees allowed by law.Depending on the state where the loan is opened, the origination fee may be either a flat amount or a percentage of the loan amount. Flat fees vary by state, ranging from $25 to $500. Percentage-based fees vary by state, ranging from 1% to 10% of the loan amount subject to certain state limits on the fee amount. For information about these fees and minimum and maximum loan sizes available in certain states, visit omf.com/loanfees.
Current OneMain Customers: Loan offers presented to a consumer assume the individual has no active loan with OneMain or one of its affiliates. If a customer applies for a new loan offer, a OneMain representative will discuss available options.
Active-duty military, their spouse or dependents covered by the Military Lending Act (MLA) may not pledge any vehicle as collateral. If you are covered by the MLA, you are not eligible for secured loans.
Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Time to Fund Loans:Funding within one hour after loan closing through SpeedFunds® must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after closing.
* Applications submitted on this website may be funded by one of several lenders, including: FinWise Bank, a Utah-chartered bank, Member FDIC; Coastal Community Bank, Member FDIC; Midland States Bank, Member FDIC; and LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates ("APR") may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees up to 10% may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. Loans are offered from $2,000 to $36,500, at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 72 months. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $2,000. For a well-qualified customer, a requested loan of $10,000 serviced by LendingPoint over a period of 48 months that has an APR of 26.59% with an origination fee of 10% may have a payment of $340.52 per month. (Actual terms and rate depend on credit history, income, and other factors.) The total amount due under the loan terms provided is $16,345.12 and the disbursal amount is $10,000. In the example provided, the total financed amount is increased to receive the full requested loan amount after the origination fee is deducted. The total amount due is the total amount of the loan you will have paid after you have made all payments as scheduled.
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. You may be required to have some of your funds sent directly to pay off your credit cards. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from your bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/. Please refer to Upgrade's Terms of Use and Borrower Agreement for all terms, conditions and requirements.
Fixed rates from 8.99% APR to 29.99% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit 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 3/06/23 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.
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.
Please Note:
APR Disclosure: The Annual Percentage Rate is the rate at which your loan accrues interest. It is based upon the amount of your loan, cost of the loan, term of the loan, repayment amounts and timing of payments and payoff. By law, the lender or lending partner/platform must show you the APR before you enter into the loan. States have laws that may limit the APR that the lender or lending partner/platform can charge you. Rates will vary based on your credit worthiness, loan size, and other variables, with the lowest rates available to customers with excellent credit. Minimum and maximum loan amounts and APRs may vary according to state law and lender or lending partner/platform. We recommend that you read the lender’s and/or lending partner’s/platform’s personal terms and conditions in full before proceeding for a personal loan.
Representative Example: Example: If you borrow $5,000 on a 3 year repayment term and at a 10% APR, the monthly repayment will be $161.34. Total repayment will be $5,808.24. Total interest paid will be $808.24.
General Disclosure: All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider's discretion and may not be available in all states or for all types of loans. There is no guarantee you will be approved or qualify for the advertised rates, fees, or terms presented. This website does not include all lending companies or all available lending offers that may be available to you. You should read the lender's personal terms and conditions, as well as any disclosures, in full before proceeding for any loan.
What is a personal loan?
A personal loan is money borrowed from a bank, credit union or online lender that you repay in equal monthly installments, usually over two to seven years.
This money can be used for any purpose, with common motivations being debt consolidation, financing big purchases, events or vacations, home improvement projects, or covering unexpected bills.
Unlike auto loans and mortgages, personal loans aren't secured. If you fail to make payments for your car or home, the bank can take that collateral back to recoup some of their loss. With a personal loan, however, there is no collateral to take back.
As a result, lenders rely solely on your credit profile and income when considering whether to approve you for a personal loan. And, because of the higher risk, loan rates are typically higher with personal loans than they are with secured loans such as mortgages.
What interest rate can I expect?
Personal loan interest rates vary by lender, and the rate you receive depends on your credit worthiness – factors such as your credit score, income, and debt-to-income ratio.
Like most financial products, borrowers with the highest credit scores will generally receive the best rates.
| How's Your Credit? | Credit Score Range | Average Rate |
|---|---|---|
| Excellent | 720+ | 10.3% - 12.5% |
| Good | 660 - 719 | 13.5% - 15.5% |
| Fair | 620 - 659 | 17.8% - 19.9% |
| Poor | 300 - 619 | 28.5% - 32.0% |
Keep in mind these are estimates only. When you're ready, answer a few questions about yourself to get prequalified and compare offers from multiple lenders to get the best rate.
How can I use a personal loan?
Personal loans can be used to cover almost any personal expense. Most people consider a loan when they need access to funds quickly to cover various situations and life events.
Keep in mind, however, that personal loan rates are often higher and with shorter repayment terms than other secured or purpose-specific loans. So, depending on your reason for seeking cash, you'll want to consider whether a personal loan is your best option.
For example, if you're taking courses from an accredited university, a student loan will usually be the better choice. If you're looking to take an online course or get a professional certification, however, a traditional student loan often won't be an option. Instead, a personal loan can fill that gap.
Here are some of the most common uses for personal loans:
Debt consolidation
Debt consolidation is when you pay off several debts with a single personal loan.
If you have high-interest debts (such as credit cards), then a personal loan can be a powerful tool to finally getting out from beneath that debt.
Not only will you make your life easier by consolidating to a single monthly bill, but by decreasing your interest rate, more of the amount you put toward that debt each month will go toward paying down the principle versus being thrown away in interest.
To make this strategy work, you'll want to verify that the personal loan is at a lower APR than your existing debt.
In some cases, your lender can even fund your personal loan by paying your creditor directly, another time and interest-saving feature.
Medical bills
Whether it's to pay an unexpected medical bill or for a procedure not covered by insurance, a personal loan can give you the cash you need now, while offering flexible terms to pay it back over a period of time.
In most cases, you'll want to first check that the hospital or medical office doesn't have payment options that are more favorable than a personal loan, such as 0% financing.
Car repairs
Car repairs are often unexpected and expensive – a terrible combination.
A personal loan can help you pay the bill so that you're back on the road quickly.
Vacation
Vacations are another one of those "major purchases" that can be covered by a personal loan. You can use the funds to pay for travel, hotels, excursions, or anything in between.
Then, just pay the fixed amount each month to spread the cost of your vacation over the length of the loan.
Home improvements
A personal loan can get you the money you need for home improvements and repairs, or big purchases such as new appliances.
You'll want to also consider other funding options such as a home equity loan to be sure you're getting the best rate and terms. That said, some personal loan lenders will offer longer repayment terms for loans being used for home improvements.
Major purchases
A personal loan can be used for major purchases such as cars, boats, or recreational vehicles.
In the case of auto financing, personal loans come with fewer restrictions on the type of car you can purchase, providing helpful flexibility for those that need it. As a trade off, however, a personal loan will often charge higher interest rates than most auto loans, so be sure you understand the pros and cons.
Moving costs
Whether it's to another state or just across town, moving is expensive. A personal loan can be used to cover those expenses, such as renting a truck or hiring movers.
Personal loans made personal
20 million Americans have a personal loan. See how others have used these loans to get out of debt, cover unexpected emergencies, and more.
“I turned five high interest credit card bills into a single fixed payment. At the old rate, my balance was barely moving. Now I have a clear timeline to being debt-free!”
“My career had plateaued. I wanted to level up with a new certification, but didn’t have the cash to pay for the program. I used a personal loan, and then landed a job with a 20% salary increase!”
“When my car broke down, I didn’t know how I was going to pay for the repairs. And without a car, I couldn’t get to work. I used a personal loan to cover the costs and was grateful the process was so easy.”
“I tried to pay as much as I could on my credit cards each month, but I never seemed to make any progress. Getting a personal loan was the best decision. My credit score went up and I’m finally seeing the debt go down.”
How to qualify for a personal loan
Exact eligibility requirements vary from lender to lender. In general, however, most lenders will look for:
- Good credit. You'll typically need good to excellent credit to get approved for a personal loan — a good credit score is usually considered to be 700 or higher. However, there are several lenders that work with folks who have fair or poor credit. Just keep in mind that these loans generally come with higher interest rates.
- Verifiable income. During the approval process, you'll likely need to show proof of income. This can be from a traditional job, self-employment, or some other source.
- Low debt-to-income ratio. Your debt-to-income (DTI) ratio is the amount you already owe to creditors compared to your monthly income. Lenders typically like to see a DTI ratio of 40% or less, though some may make exceptions.
Get a personal loan in 4 easy steps
Here's exactly how it works:
1 Tell us about yourself
Your actual options will depend on your credit worthiness, desired loan amount, and location.
2 Choose your personal loan
Explore options from multiple lenders, and pick the one that suits your budget and time frame.
3 Complete your application
Verify your identity and finalize the legal documents to complete your personal loan application.
4 Get your cash
The money is put into your account in as little as one business day.
Compare the top lenders
Quickly compare the top personal loans to determine which lender is best for you.
| APR range | Loan amount | Longest term | Min. credit score | No origination fee? |
Funds within 1 business day? |
Custom payment date? |
Direct payment to credit card? |
|||
|---|---|---|---|---|---|---|---|---|---|---|
| Upgrade | 6.95 - 35.97% | $1,000 - $50,000 | 7 years | 560 |  No |
 Yes |
Yes |
Yes |
Your Rate | |
| SoFi | 7.99 - 22.23% | $5,000 - $100,000 | 7 years | 680 | Yes |
Yes |
Yes |
Yes |
Your Rate | |
| LendingPoint | 7.99 - 35.99% | $2,000 - $36,500 | 4 years | 600 | Varies | Yes |
Yes |
No |
Your Rate | |
| Happy Money | 5.99 - 24.99% | $5,000 - $40,000 | 5 years | 640 | No |
No |
Yes |
Yes |
Your Rate | |
| Prosper | 7.95 - 35.99% | $2,000 - $40,000 | 5 years | 600 | No |
No |
Yes |
No |
Your Rate | |
| Avant | 9.95 - 35.95% | $2,000 - $35,000 | 5 years | 550 | No |
Yes |
Yes |
No |
Your Rate | |
| Marcus | 6.99 - 19.99% | $3,500 - $40,000 | 6 years | 660 | Yes |
No |
Yes |
Yes |
Your Rate | |
| LightStream | 3.99 - 20.49% | $5,000 - $100,000 | 7 years | 660 | Yes |
Yes |
No |
No |
Your Rate | |
| LendingClub | 6.34 - 35.89% | $1,000 - $40,000 | 5 years | 600 | No |
No |
Yes |
Yes |
Your Rate | |
| OneMain | 18 - 35.99% | $1,500 - $20,000 | 5 years | 0 | No |
Yes |
Yes |
Yes |
Your Rate | |
| Upstart | 6.24 - 29.99% | $1,000 - $50,000 | 5 years | 0 | No |
Yes |
No |
Yes |
Your Rate | |
| PenFed Credit Union | 7.74 - 17.99% | $600 - $50,000 | 60 months | 650 | Yes |
No |
No |
No |
Your Rate |
Still have questions?
Here are answers to some of the most common questions regarding personal loans:
How much do personal loans cost?
Answer
There are many factors to consider when evaluating the total cost of a personal loan.
The first is your interest rate. That's how much the lender is charging you to borrow money. That interest (expressed as your APR) is paid each month on top of your principal.
For example, if you borrow $7,500 on a 4 year loan term and at a 10% APR, the monthly payment will be $190.22. When you finish paying off your loan, your payments will altogether have totaled $9,130.53, meaning that it cost you $1,630.53 in interest to have borrowed that $7,500.
After interest, you'll need to consider any fees the lender will charge. While you can't avoid interest, you will want to avoid fees if you can.
Some lenders charge an origination fee. For those that do, it's usually between 1% and 5% of the loan amount. Typically, the origination fee is deducted upfront from the loan.
For example, if the lender charges a 5% origination fee for that $7,500 loan, your payments will remain the same, but you'll only receive $7,125 when the loan is funded. That brings your total cost to $2,005.53 – the $1,630.53 in interest plus the $375 origination fee.
Other fees to watch out for are late fees and early payoff penalties.
Late fees are usually around $30-$40 each time you miss a payment. Some lenders offer a grace period before charging a late fee and others waive them altogether. Either way, these are in your control – before taking out a personal loan, be sure that you can afford to make the payments.
What is the easiest bank to get a personal loan from?
Answer
You can use a lender's minimum credit score to gauge how easy it is to get approved for a personal loan. Some lenders only approve borrowers with excellent credit, while others are willing to work with borrowers who have less than ideal credit scores.
Additionally, you may also want to check with any bank or institution that you have an existing relationship with. For example, TD Bank requires a credit score of 750 for non-TD customers, but that drops to 660 for those with active accounts.
Lastly, as a general rule of thumb, online lenders offer better chances of being approved with bad credit than the big banks.