Check out the winning personal loans
None
8.99-29.99%
$5,000-$100,000
Qualifications
- Must legally be an adult in your state.
- Must be a U.S. citizen, permanent resident or non-permanent resident with valid documentation.
- Must be employed, have sufficient income or have an offer of employment to start within 90 days.
Available Term Lengths
- 2 to 7 years
Fees
- Origination fee: 0% to 7%.
- Late fee: None.
Disclaimer: Fixed rates from 8.99% APR to 29.99% 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 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. 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%-7%, 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.
Pros
- Joint loan option.
- Multiple rate discounts.
- Mobile app to manage loan.
Cons
- No option to choose initial payment date.
- High minimum loan amount.
Why our Nerds love it
SoFi stands out with competitive rates, no required fees and multiple rate discounts. It offers fast funding, a wide range of loan amounts and terms, plus perks like free financial advice.
Read our methodology560
8.49-35.99%
$1,000-$50,000
Qualifications
- Minimum credit score: 560.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including the loan you're applying for.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
Available Term Lengths
- 3 to 7 years
Fees
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Disclaimer: 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 5% one-time 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 bank partners can be found at https://www.upgrade.com/bank-partners/.
Pros
- Secured and joint loans.
- Multiple rate discounts.
- Mobile app to manage loan payments.
- Direct payment to creditors with debt consolidation loans.
- Long repayment terms on home improvement loans.
Cons
- Origination fee.
- No option to choose your payment date.
Why our Nerds love it
Upgrade stands out for debt consolidation loans, offering direct payment to creditors, multiple ways to get a rate discount and next-day funding. It also accepts joint applications.
Read our methodology660
6.99-25.49%
$5,000-$100,000
Qualifications
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 years old.
- Minimum credit score: 660.
- Must have several years of credit history with multiple account types and few or no delinquencies.
- Must have assets like retirement, investment and savings accounts.
Available Term Lengths
- 2 to 7 years
Fees
- Origination fee: None.
- Late fee: None.
Disclaimer: Rates 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.
Pros
- No fees.
- Rate discount for autopay.
- Long repayment terms on home improvement loans.
- Rate Beat program and Experience Guarantee.
Cons
- No option to pre-qualify with a soft credit check on its website.
- No direct payment to creditors with debt consolidation loans.
- High minimum loan amount.
Why our Nerds love it
LightStream stands out for home improvement loans, offering especially large loan amounts and extended terms. Its rates are competitive, and it never charges extra fees.
Read our methodology600
8.99-35.99%
$2,000-$50,000
Qualifications
- Minimum credit score: 600.
- Must be a U.S. citizen.
- Minimum credit history: 24 months and 1 account.
- Minimum annual income: $3,500.
- Maximum debt-to-income ratio: 40% or 65% including mortgage.
Available Term Lengths
- 3 to 5 years
Fees
- Origination fee: 0.99% - 8.99%.
Disclaimer: *Trustpilot TrustScore as of December 2022. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.A., Member FDIC, Equal Housing Lender. The Best Egg Credit Card is issued exclusively by First Bank & Trust, Member FDIC, Brookings SD pursuant to a license by Visa International. Visa is a registered trademark, and the Visa logo design is a trademark of Visa International Incorporated. “Best Egg” is a trademark of Marlette Best Egg Technologies, LLC. Offers may be sent pursuant to a joint marketing agreement between Cross River Bank, Blue Ridge Bank, N.A. and/or First Bank & Trust and Marlette Marketing, LLC, a subsidiary of Best Egg, Inc. 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 8.99%–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%–8.99% 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. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. 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: [email protected], 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/
Pros
- Option to pre-qualify with a soft credit check.
- Wide range of loan amounts.
- Unsecured and secured loan options.
- Direct payment to creditors with debt consolidation loans.
- No late fees.
Cons
- Origination fee.
- No rate discounts.
- No option to choose initial payment date.
- No mobile app to manage loan.
Why our Nerds love it
Best Egg offers borrowers a wide range of loan amounts, fast funding and a unique secured loan option. Its free financial health tool is a perk for anyone tracking their credit.
Read our methodologyNone
7.80-35.99%
$1,000-$50,000
Qualifications
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 in most states.
- Must have a valid email address and Social Security number.
- Must have a bank account at a financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts.
- Minimum credit score: None.
- Minimum annual income: $12,000; this lender accepts income from employment, alimony, retirement, child support, Social Security, rentals, trusts, pensions, disability and scholarships.
- Must have a full-time job or be starting a full-time job within six months.
Available Term Lengths
- 3 to 7 years
Fees
- Origination fee: 0% to 12%.
- Late fee: 5% of past due amount or $15, whichever is greater.
- Returned check fee: $15.
Disclaimer: The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 21.58% and a 9.84% origination fee of $984, for an APR of 26.82%. In this example, the borrower will receive $9016 and will make 60 monthly payments of $275. APR is calculated based on 5-year rates offered in December 2023. 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. Most borrowers are instantly approved. The majority of unsecured loan borrowers on the Upstart marketplace are able to receive an instant decision upon submitting a completed application, without providing additional supporting documents, however final approval is conditioned upon passing the hard credit inquiry. Loan processing may be subject to longer wait times if additional documentation is required for review. If you accept your loan by 5pm EST (not including weekends or holidays), your funds will be sent on the next business day.
Pros
- Accepts borrowers new to credit.
- Fast funding.
- Option to change your payment date.
- Option to pre-qualify with a soft credit check.
- Seven-day customer service availability.
Cons
- May charge origination fee.
- No joint or co-signed loans.
- No direct payment to creditors on debt consolidation loans.
Why our Nerds love it
Upstart’s unique underwriting model helps lower-credit consumers qualify. Stand-out loan features include a wide range of loan amounts, fast funding and seven-day customer service.
Read our methodology660
7.99-24.99%
$2,500-$40,000
Qualifications
- Minimum credit score: 660.
- Must be at least 18 years old.
- Must have a valid U.S. Social Security number.
- Minimum individual or household annual income of $25,000.
- Must have an active email address.
Available Term Lengths
- 3 to 7 years
Fees
- Origination fee: None.
- Late fee: $39.
Disclaimer: This is not a commitment to lend from Discover Personal Loans. Your APR will be between 7.99% and 24.99% based on creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 13.99% APR for a term of 72 months, you'll pay just $309 per month. You must have a minimum individual or household annual income of $25,000, be over 18 years of age, and have a valid US SSN to be considered for a Discover personal loan. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history and application information meet all requirements. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. State restrictions may apply. A Discover personal loan is intended for personal use and cannot be used to pay for post-secondary education, to pay off a secured loan, or to directly pay off a Discover credit card. If your application is approved, we will send funds after you accept the loan. Your bank or creditor may take more days to process the funds. Discover makes loans without regard to race, color, religion, national origin, sex, disability, or familial status.
Pros
- No origination fee.
- Option to pre-qualify with a soft credit check.
- Fast funding.
- Mobile app to manage loan.
Cons
- May charge late fee.
- No co-sign or joint loan option.
- No rate discount.
Why our Nerds love it
For borrowers with excellent credit, Discover offers competitive rates, fast funding and special features for debt consolidation. Borrowers have multiple ways to manage their loan.
Read our methodology560
8.49-35.99%
$1,000-$50,000
Qualifications
- Minimum credit score: 560.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including the loan you're applying for.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
Available Term Lengths
- 3 to 7 years
Fees
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Disclaimer: 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 5% one-time 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 bank partners can be found at https://www.upgrade.com/bank-partners/.
Pros
- Secured and joint loans.
- Multiple rate discounts.
- Mobile app to manage loan payments.
- Direct payment to creditors with debt consolidation loans.
- Long repayment terms on home improvement loans.
Cons
- Origination fee.
- No option to choose your payment date.
Why our Nerds love it
Upgrade accepts consumers with low credit, offering competitive rates, multiple rate discount options and credit-monitoring tools. It has special features for debt consolidation and home improvement loans.
Read our methodologyFrequently asked questions
NerdWallet's award winners are chosen through a rigorous evaluation process involving 39 writers and editors. NerdWallet's ratings formulas for credit cards, for example, consider the type of card being reviewed (such as cash back, travel, or balance transfer) and the card's rates, fees, rewards, and other features. For mortgages, we evaluate loan average rates and fees, loan types and products, online rate information, ease of application and other factors. For more info, see our methodologies.
Our team of nerdy experts is composed of writers and editors — based all across the country — who have a combined 493 years of journalistic experience reviewing and writing about personal finance products for consumers.
Yes. Writers and editors use comprehensive scoring formulas that assess each financial product’s key features, weighting them according to their importance to consumers.
Nope. Editorial team members are solely responsible for creating all product reviews and ratings, and these assessments reflect their opinions alone. Only products that meet the editorial team’s standards appear in our Best-Of Awards lists, meaning no company can “buy” an award.
Our Best-Of Awards are given annually to the top financial products on the market. Our other “best” articles may:
• be longer than our Best-Of Awards list
• offer additional consumer choices
• get updated as products change or are discontinued and as new products emerge
This year's Best-Of-Awards list winners were chosen in mid-October 2023, with the exception of Best Airline Rewards Program, which was chosen in early November 2023.
Our 2023 Best-Of Award winners are still live. If you’d like to see who won last year, feel free to take a look and compare with this year’s winners.